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Did Iradimed beat or miss consensus estimates last quarter?

- **Record Growth**: Q4 2025 revenue up 17% YoY to $22.7 million, with full-year revenue of $83.8 million (+14% YoY).
- **3870 Launch Momentum**: 10%-14% ASP increase expected, targeting $50 million annual run rate from 2,000+ U.S. channels.
- **Replacement Opportunity**: 6,400+ outdated 3860 pumps in the U.S. present a multi-year replacement pipeline.
- **Gross Margin Expansion**: 77% full-year margin with potential H2 2026 improvement.
- **International Expansion**: Europe CE mark by end-2026, Japan approval targeted for mid-2027.

**【CEO Summary Section】**
- Q4 2025 revenue reached $22.7 million, up 17% YoY, with full-year revenue of $83.8 million (+14% YoY). GAAP EPS was $0.50 (+25%), and non-GAAP EPS was $0.54 (+23%).
- MRI-compatible infusion pumps (3860) drove 20% YoY growth, while patient monitoring systems grew 7.5%. Disposable revenue rose 18%.
- The new 3870 pump is expected to generate a $50 million annual run rate, targeting 2,000+ channels in the U.S. with 10%-14% ASP increase.
- 6,400+ 3860 pumps over 5 years old in the U.S. present a multi-year replacement opportunity, with 1,000+ units targeted annually starting Q2 2026.
- Initial 23-unit 3870 shipments in Q1, with 100-130 units expected in Q2 and ramping in H2.

**【CFO Financial Commentary】**
- Q4 2025 gross profit was $17 million (75% margin), with full-year gross profit at $64.3 million (77% margin).
- Operating expenses were $9.9 million for the quarter and $38.2 million annually, driven by G&A and R&D investments.
- Net income was $6.4 million ($0.50 EPS) for the quarter and $22.5 million ($1.75 EPS) for the year.
- Cash flow from operations was $5.9 million for the quarter and $24.9 million annually, with free cash flow of $16.5 million.
- Effective tax rate decreased to 20.7% for the year (from 22% guidance).

**【Q&A Highlights】**
- **3870 Feedback**: Early users praise the modern design and usability, with 15-20 additional orders booked pre-launch.
- **Gross Margin**: Expected to trend higher in H2 2026 with scale and higher ASPs.
- **R&D Pipeline**: Next-gen MRI monitor expected in 2028.
- **International Expansion**: CE mark for Europe by end-2026, Japan approval targeted for mid-2027.
- **3860 Transition**: Inventory managed to support 3870 ramp while fulfilling existing orders.

IRADIMED CORPORATION (IRMD) Q4 2025 Earnings Call Transcript

- **Record Revenue Growth**: $21.2 million Q3 2025 (+16% YoY), driven by 20% pump growth and 16% monitor sales.
- **New 3870 Pump Opportunity**: $50 million annual run rate target by late 2026, replacing 6,300+ outdated 3860 units.
- **Strong Margins & Cash Flow**: 78% gross margin, $7 million Q3 cash flow, and $11 million YTD free cash flow.
- **2027 International Expansion**: CE Mark (Europe) and Japan clearance by end-2026, full international rollout in 2027.
- **Scalable Infrastructure**: New 2.5x larger facility supports $50+ million quarterly revenue with expansion capacity.

**【CEO Opening Remarks】**
- Q3 2025 revenue reached $21.2 million, up 16% YoY, marking the 17th consecutive quarter of record revenue.
- Gross profit margin remained strong at 78%, with GAAP EPS increasing 8% YoY to $0.43.
- The 3860 MRI IV pump saw 20% YoY growth, driven by extended maintenance offers and replacement demand.
- Launched the new 3870 pump in Q2 2025, targeting a $50 million annual revenue run rate by late 2026 through replacement of 6,300+ outdated 3860 units.
- Q4 2025 guidance: $21.4–$22.4 million revenue, $0.43–$0.47 GAAP EPS, and $0.47–$0.50 non-GAAP EPS.
- Full-year 2025 guidance raised to $82.5–$83.5 million revenue, up from $80–$82.5 million.

**【CFO Financial Commentary】**
- Q3 2025 revenue: $21.2 million (+16% YoY), with 85% from domestic sales vs. 83% in Q3 2024.
- Pump systems revenue: $8.3 million (+20% YoY), monitors: $6.9 million (+16% YoY), disposables: $4.1 million (+12% YoY).
- Gross profit: $16.4 million (+16% YoY), operating expenses: $9.7 million (+15% YoY) due to sales commissions and R&D.
- Net income: $5.6 million (+12% YoY), cash flow from operations: $7 million Q3, $19 million YTD.
- Free cash flow: $5.7 million Q3, $11 million YTD, with $13.3 million spent on new facility construction.

**【Q&A Highlights】**
- **3870 Pump Rollout Timeline**: Full U.S. sales team deployment in January 2026, bookings expected to ramp in Q2 2026, with revenue impact visible in late 2026.
- **Gross Margin Sustainability**: 78% margin maintained despite facility transition; domestic sales mix may support margin stability.
- **Inventory Management**: Building 3870 inventory in Q4 2025 to meet Q1 2026 demand; 3860 inventory sufficient for Q1–Q2 2026 shipments.
- **International Expansion**: Targeting CE Mark (Europe) by Q4 2026 and Japan clearance by end-2026, with full international 3870 adoption in 2027.
- **New Facility Capacity**: 2.5x larger than previous, capable of supporting $50 million+ quarterly revenue with expansion potential on owned land.

IRADIMED CORPORATION (IRMD) Q3 2025 Earnings Call Transcript

- **Record Revenue Growth**: Q2 2025 revenue of $20.4 million (+14% YoY) driven by 3860 pump and monitor sales.
- **Breakthrough Product Launch**: FDA-cleared 3870 pump targets $50 million in domestic revenue by 2026 through 6,200+ older pump replacements.
- **Financial Strength**: $5.8 million net income, 78% gross margin, and $53 million cash on hand.
- **Strategic Expansion**: 12% ASP increase for 3870 and potential greenfield growth via improved usability.

**【CEO Summary Section】**
- Q2 2025 revenue reached $20.4 million, a 14% year-over-year increase, driven by strong performance of the 3860 MRI IV pump and patient monitor sales.
- FDA clearance for the new 3870 pump was granted, setting the stage for a significant product transition. The company anticipates replacing 6,200+ older pumps in the U.S., targeting $50 million in domestic pump revenue by 2026.
- Updated guidance: Q3 2025 revenue of $20.5-$20.9 million (12-14% growth), full-year 2025 revenue of $80-$82.5 million (9-13% growth), and GAAP EPS of $1.60-$1.70.
- Tariffs and DOGE impacts were minimal, with pre-tariff inventory cushioning the short-term effect.

**【CFO Financial Commentary】**
- Q2 2025 GAAP net income was $5.8 million ($0.45 EPS), up 18% YoY. Non-GAAP EPS was $0.49, reflecting strong cost control and 78% gross margin.
- Revenue breakdown: $8.2 million from pumps (+19%), $5.9 million from monitors (+9%), and $4.2 million from disposables (+14%).
- Cash flow from operations was $7.7 million, with $53 million in cash as of Q2. Capital expenditures of $6.7 million were incurred for the new facility.

**【Q&A Key Highlights】**
- **Backlog Composition**: Record backlog as of Q2, with strong pump and monitor orders. Pump backlog is 5-6 months, monitor backlog is 4-5 weeks.
- **3870 Launch Strategy**: Limited 3870 sales in Q4 2025 (40-50 units) to gather feedback, with full-scale sales beginning in Q2 2026. ASP for 3870 is expected to be 12% higher than 3860.
- **Market Expansion Potential**: New pump's user-friendly design may attract previously hesitant customers, creating greenfield opportunities beyond replacement sales.
- **Operational Transition**: Q1 2026 pump bookings may be temporarily weak due to sales team focus shift, but revenue will remain strong due to existing backlog.

IRADIMED CORPORATION (IRMD) Q2 2025 Earnings Call Transcript

- **Revenue Milestone**: 15th consecutive quarter of record revenue at $19.5 million (+11% YoY).
- **Product Momentum**: 23% disposable growth, monitor sales recovery on track, and 3870 pump clearance expected mid-2025.
- **Financial Strength**: Non-GAAP EPS $0.42, strong cash flow despite $3.5 million facility investment.
- **Operational Efficiency**: Tariff risks managed, new facility nearing completion, and FDA interactions responsive.

**【CEO Summary Section】**
- **Record Revenue Growth**: Q1 2025 revenue of $19.5 million, up 11% year-over-year, marking the 15th consecutive quarter of record revenues.
- **Key Drivers**: Strong pump shipments (3860 MRI IV pump) and 23% growth in disposable revenue. Monitor bookings remained stable, aligning with 2025 sales plans.
- **New Product Pipeline**: The 3870 MR IV pump expected to receive FDA clearance in mid-2025, with limited revenue contribution in Q4 2025. The new pump is projected to dominate sales by 2026-2027.
- **Tariff and FDA Update**: Minimal direct cost impact from tariffs (3% of BOM cost), though supplier pricing tactics are monitored. FDA interactions remain responsive, with recent progress on 510(k) clearance.
- **Guidance**: Q2 2025 revenue $19.7-19.9 million; full-year guidance $78-82 million. New facility nearing completion, with move-in planned for June-July 2025.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Pumps ($6 million, +16%), disposables ($4.9 million, +23%), monitors ($6.5 million). Domestic sales ($16 million, +19%) outpaced international decline (-15%).
- **Gross Margin**: 76.1%, consistent with prior year, reflecting effective cost management.
- **Operating Expenses**: $9.4 million (48% of revenue), driven by legal costs (+16%) and sales commissions. R&D expenses decreased 24% due to pump development completion.
- **Earnings**: GAAP EPS $0.37 (+16%), non-GAAP EPS $0.42 (+17%). Cash flow from operations $4.3 million, with free cash flow down due to $3.5 million facility spending.

**【Q&A Highlights】**
- **Disposable Growth**: Q1 surge partly due to backlog reduction; expects future growth aligned with pump utilization.
- **Monitor Recovery**: Strong Q1 bookings and early Q2 momentum, supported by sales incentives and stable ASPs.
- **FDA Progress**: Interactive FDA feedback suggests potential expedited clearance, though timeline remains uncertain.
- **Capital Spending**: $3.5 million spent on new facility; $3 million more needed for completion.


IRadimed (IRMD)-5 May 25-2025 Q1 Earnings call transcript

- **Record Q4 Growth**: $19.4 million revenue (+11% YoY), driven by domestic pump sales and monitor bookings. 
- **2025 Outlook**: $78-82 million revenue target, with monitor sales set to accelerate. 
- **New Pump Momentum**: 3870 pump expected to replace 800-1,000 systems annually starting 2026. 
- **Financial Strength**: 76.1% gross margin, $6 million operating cash flow, and $1.50 GAAP EPS for 2024. 
- **Minimal Tariff Risk**: Tariffs impact <3% of BOM costs, no material margin impact.

**【CEO Summary Section】**
- **Q4 2024 Financial Highlights**: Revenue of $19.4 million (+11% YoY), GAAP EPS of $0.40 (+11% YoY), and Non-GAAP EPS of $0.44 (+13% YoY). Full-year 2024 revenue reached $73.2 million (+12% YoY). 
- **New Pump Progress**: 3870 MR IV pump expected to receive FDA clearance by mid-2025, with limited 2025 revenue and full ramp-up in 2026. 
- **Facility Update**: New manufacturing facility on track for June 2025 completion, with $5.5 million remaining construction costs. 
- **2025 Guidance**: Revenue of $78-82 million, GAAP EPS of $1.55-1.65, and Non-GAAP EPS of $1.71-1.81. 

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Domestic sales up 21% to $16.5 million (85% of Q4 2024), driven by pump sales (+34% YoY). International sales declined 24% to $2.9 million. 
- **Gross Margin**: 76.1% in Q4 2024 (down 0.8% YoY) due to higher variable costs. Full-year gross margin improved to 76.9% (+0.4% YoY). 
- **Operating Expenses**: $9 million (46% of revenue) in Q4, up 8% YoY due to higher sales commissions. 
- **Cash Flow**: Free cash flow of $2.9 million in Q4, with $6 million in operating cash flow. 

**【Q&A Key Takeaways】**
- **Sales Strategy Shift**: 2025 focus on monitor sales, with Q4 2024 bookings up significantly (20%+ of total orders). Pump sales remain strong, with 800-1,000 system replacements expected in 2026. 
- **R&D & Margin Outlook**: R&D expenses to remain stable (~$2 million/year), with gross margin expected to stay in 76-77% range. 
- **Tariff Impact**: Tariffs on <3% of BOM costs, negligible impact on gross margin. 
- **Leverage Potential**: S&M expenses tied to bookings, with potential for margin expansion if sales exceed guidance.

Actual											0.18	0.05	0.11	0.07	0.13	0.14	0.23	0.33	0.22	0.26	0.29	0.32	0.3	0.36	0.43	0.39	0.36	0.42	0.43	0.44	0.42	0.49	0.47	0.54
Forecast											0.15	-0.005	0.1	0.105	0.1	0.095	0.17	0.195	0.21	0.235	0.245	0.3	0.2833	0.31	0.3633	0.38	0.335	0.365	0.405	0.44	0.41	0.435	0.455	0.48
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+20.00%	+1100.00%	+10.00%	-33.33%	+30.00%	+47.37%	+35.29%	+69.23%	+4.76%	+10.64%	+18.37%	+6.67%	+5.89%	+16.13%	+18.36%	+2.63%	+7.46%	+15.07%	+6.17%	0.00%	+2.44%	+12.64%	+3.30%	+12.50%

IRMD

IRMD fundamentals

IRMD Q4 2025 Earnings

Earnings Call

You can ask Aime

IRMD

IRMD fundamentals

IRMD Q4 2025 Earnings

Earnings Call

IRMD Earnings Call Summary for Q4/202511:00 AM on Feb 10, 2026

IRMD Earnings Call Summary for Q3/202511:00 AM on Nov 3, 2025

IRMD Earnings Call Summary for Q2/202511:00 AM on Aug 1, 2025

IRMD Earnings Call Summary for Q1/20259:00 AM on May 5, 2025

IRMD Earnings Call Summary for Q4/202411:00 AM on Feb 13, 2025

You can ask Aime