Iradimed's Q2 2025 Earnings Call: Unpacking Key Contradictions in Pump Sales, Monitor Confidence, and Backlog Fulfillment

Pump Sales and ASP Expectations, Monitor Sales and Backlog Confidence, Sales Focus and Strategy, IV Pump Sales Strategy and Transition to New Pump, Backlog Fulfillment Timeline are the key contradictions discussed in Iradimed's latest 2025Q2 earnings call.



Record Revenue and Growth:
- IRADIMED reported revenue of $20.4 million for Q2 2025, marking a 14% increase over the same period last year.
- Growth was driven by strong performance in pump shipments, particularly the 3860 MRI IV pump, and increased shipments of the MRI patient monitor.

Domestic Sales and Market Strategy:
- Domestic sales increased 18% to $18.2 million, accounting for 89% of total revenue for Q2 2025.
- This growth was supported by the company's strategy to target replacements of older 3860 pump models with the new 3870 IV pump, aiming for a significant revenue boost in 2026.

FDA Clearance and New Product Impact:
- The FDA clearance of the new 3870 IV pump systems has opened up significant growth opportunities.
- This clearance, after a lengthy process, is expected to drive revenue growth and contribute to a projected $100 million revenue run rate in 2026.

Financial Guidance and Cash Flow:
- IRADIMED raised its guidance for full-year 2025, expecting revenues of $80 million to $82.5 million, representing a 9% to 13% growth over 2024.
- Cash flow from operations was a strong $7.7 million for the quarter, up 17% from the previous year, reflecting robust financial health.

Strong Backlog and Future Growth:
- The company reported a record backlog as of June 30, 2025, composed of both pump and monitoring orders.
- This backlog, along with the anticipated demand for the 3870 IV pump, positions IRADIMED for continued growth in the coming quarters.