IRADIMED CORPORATION Announces First Quarter 2025 Financial Results
IRADIMED (NASDAQ: IRMD) reported strong Q1 2025 financial results with record revenue of $19.5 million, up 11% year-over-year. The company achieved GAAP diluted EPS of $0.37 and non-GAAP diluted EPS of $0.42, representing increases of 16% and 17% respectively. The Board declared a quarterly dividend of $0.17 per share, payable on May 30, 2025.
The company maintained its full-year 2025 guidance, expecting revenue between $78.0-82.0 million and GAAP diluted EPS of $1.55-1.65. For Q2 2025, IRADIMED projects revenue of $19.7-19.9 million. Domestic sales represented 82% of total revenue, and gross profit margin remained steady at 76.1%. The company's new manufacturing facility is on track for completion in July 2025, with approximately $3.0 million in remaining construction costs.
IRADIMED (NASDAQ: IRMD) ha riportato solidi risultati finanziari per il primo trimestre 2025 con un fatturato record di 19,5 milioni di dollari, in aumento dell'11% rispetto all'anno precedente. La società ha registrato un utile per azione diluito GAAP di 0,37 dollari e un utile per azione diluito non GAAP di 0,42 dollari, con incrementi rispettivamente del 16% e del 17%. Il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale di 0,17 dollari per azione, pagabile il 30 maggio 2025.
L'azienda ha confermato le previsioni per l'intero anno 2025, prevedendo un fatturato compreso tra 78,0 e 82,0 milioni di dollari e un utile per azione diluito GAAP tra 1,55 e 1,65 dollari. Per il secondo trimestre 2025, IRADIMED prevede un fatturato tra 19,7 e 19,9 milioni di dollari. Le vendite nazionali hanno rappresentato l'82% del fatturato totale e il margine lordo è rimasto stabile al 76,1%. Il nuovo impianto produttivo dell'azienda è in fase di completamento previsto per luglio 2025, con circa 3,0 milioni di dollari di costi di costruzione residui.
IRADIMED (NASDAQ: IRMD) reportó sólidos resultados financieros en el primer trimestre de 2025 con ingresos récord de 19,5 millones de dólares, un aumento del 11% interanual. La compañía logró un EPS diluido GAAP de 0,37 dólares y un EPS diluido no GAAP de 0,42 dólares, lo que representa incrementos del 16% y 17%, respectivamente. La Junta declaró un dividendo trimestral de 0,17 dólares por acción, pagadero el 30 de mayo de 2025.
La empresa mantuvo su guía para todo el año 2025, esperando ingresos entre 78,0 y 82,0 millones de dólares y un EPS diluido GAAP de 1,55 a 1,65 dólares. Para el segundo trimestre de 2025, IRADIMED proyecta ingresos de 19,7 a 19,9 millones de dólares. Las ventas nacionales representaron el 82% del total de ingresos y el margen bruto se mantuvo estable en 76,1%. La nueva planta de fabricación de la compañía está en camino de completarse en julio de 2025, con aproximadamente 3,0 millones de dólares en costos de construcción restantes.
IRADIMED (NASDAQ: IRMD)는 2025년 1분기 강력한 재무 실적을 발표하며 사상 최대 매출 1,950만 달러를 기록, 전년 대비 11% 증가했습니다. 회사는 GAAP 희석 주당순이익(EPS) 0.37달러와 비-GAAP 희석 EPS 0.42달러를 달성했으며, 각각 16%와 17% 증가를 나타냈습니다. 이사회는 주당 0.17달러의 분기 배당금을 선언했으며, 배당금은 2025년 5월 30일에 지급될 예정입니다.
회사는 2025년 전체 가이던스를 유지하며 매출액을 7,800만 달러에서 8,200만 달러 사이, GAAP 희석 EPS를 1.55~1.65달러로 예상하고 있습니다. 2025년 2분기에는 매출액을 1,970만 달러에서 1,990만 달러로 전망합니다. 국내 매출은 전체 매출의 82%를 차지했으며, 총이익률은 76.1%로 안정적으로 유지되었습니다. 회사의 신규 제조 시설은 2025년 7월 완공 예정이며, 약 300만 달러의 건설 비용이 남아 있습니다.
IRADIMED (NASDAQ : IRMD) a publié de solides résultats financiers pour le premier trimestre 2025 avec un chiffre d'affaires record de 19,5 millions de dollars, en hausse de 11 % par rapport à l'année précédente. La société a réalisé un BPA dilué GAAP de 0,37 dollar et un BPA dilué non GAAP de 0,42 dollar, soit des augmentations respectives de 16 % et 17 %. Le conseil d'administration a déclaré un dividende trimestriel de 0,17 dollar par action, payable le 30 mai 2025.
L'entreprise a maintenu ses prévisions pour l'ensemble de l'année 2025, s'attendant à un chiffre d'affaires compris entre 78,0 et 82,0 millions de dollars et à un BPA dilué GAAP de 1,55 à 1,65 dollar. Pour le deuxième trimestre 2025, IRADIMED prévoit un chiffre d'affaires entre 19,7 et 19,9 millions de dollars. Les ventes nationales représentaient 82 % du chiffre d'affaires total, et la marge brute est restée stable à 76,1 %. La nouvelle usine de production de l'entreprise devrait être achevée en juillet 2025, avec environ 3,0 millions de dollars de coûts de construction restants.
IRADIMED (NASDAQ: IRMD) meldete starke Finanzergebnisse für das erste Quartal 2025 mit rekordverdächtigen Einnahmen von 19,5 Millionen US-Dollar, ein Plus von 11 % gegenüber dem Vorjahr. Das Unternehmen erzielte ein GAAP verwässertes Ergebnis je Aktie (EPS) von 0,37 US-Dollar und ein nicht-GAAP verwässertes EPS von 0,42 US-Dollar, was einer Steigerung von 16 % bzw. 17 % entspricht. Der Vorstand erklärte eine Quartalsdividende von 0,17 US-Dollar je Aktie, zahlbar am 30. Mai 2025.
Das Unternehmen bestätigte seine Prognose für das Gesamtjahr 2025 und erwartet einen Umsatz zwischen 78,0 und 82,0 Millionen US-Dollar sowie ein GAAP verwässertes EPS von 1,55 bis 1,65 US-Dollar. Für das zweite Quartal 2025 prognostiziert IRADIMED Umsätze zwischen 19,7 und 19,9 Millionen US-Dollar. Der Inlandsumsatz machte 82 % des Gesamtumsatzes aus, und die Bruttogewinnmarge blieb stabil bei 76,1 %. Die neue Produktionsstätte des Unternehmens soll planmäßig im Juli 2025 fertiggestellt werden, wobei noch etwa 3,0 Millionen US-Dollar an Baukosten ausstehen.
- Record revenue for 15th consecutive quarter at $19.5M, up 11% YoY
- Net income increased 15% to $4.7M compared to prior year
- Strong domestic sales growth, representing 82% of total revenue vs 76% in 2024
- Maintained healthy gross profit margin of 76.1%
- Cash flow from operations increased 10% to $4.3M
- New manufacturing facility on track for completion, supporting growth plans
- Additional $3.0M cash expenditure needed for new facility completion
- Services and other revenue declined from $1.19M to $1.04M YoY
Insights
Iradimed delivers robust 11% revenue growth with stronger 16-17% EPS growth, maintaining exceptional 76.1% gross margins while expanding manufacturing capacity.
Iradimed's Q1 2025 results demonstrate continued execution excellence with their fifteenth consecutive quarter of record revenue. The $19.5 million revenue represents solid 11% year-over-year growth, while net income grew even faster at 15% to $4.7 million. This revenue-to-earnings leverage is a positive indicator of operational efficiency and scaling economics.
The company maintains an exceptionally strong 76.1% gross margin, unchanged from the previous year despite growth initiatives. This margin level significantly exceeds typical medical device industry averages, suggesting strong pricing power, limited competition in their specialized MRI-compatible device niche, and efficient manufacturing operations.
Revenue breakdown reveals several positive trends. Their MRI Compatible IV Infusion Pump Systems grew 15.5% year-over-year, while their Ferro Magnetic Detection Systems, though smaller in absolute terms, increased by 67.5%. Equally important, disposables revenue grew 23.2% to $4.95 million, representing an expanding recurring revenue stream from the installed device base.
Domestic sales increased to 82% of total revenue from 76% in the comparable period, indicating stronger market penetration in the U.S. The company's $4.3 million in operating cash flow (up 10% year-over-year) comfortably supports both their $0.17 quarterly dividend and ongoing construction of their new Orlando manufacturing facility.
Management's guidance for Q2 2025 suggests continued sequential growth to $19.7-$19.9 million in revenue with similar profitability metrics. The reaffirmation of full-year guidance ($78.0-$82.0 million revenue) demonstrates confidence in their growth trajectory, with the new facility on track for completion in July 2025 providing capacity for future expansion.
The combination of strong revenue growth, substantial profitability, exceptional margins, and investments in capacity expansion positions Iradimed for continued success in their specialized medical device market.
Announces Regular Quarterly Cash Dividend of
Reaffirms Full Year 2025 Revenue and Earnings Guidance
- Reports record revenue of
$19.5 million for the first quarter of 2025, an increase of$1.9 million or11% , compared to the same period in 2024. - Reports GAAP diluted EPS of
$0.37 and non-GAAP diluted EPS of$0.42 for the first quarter of 2025, which are increases of16% and17% , respectively, compared to the same period in 2024. - Declares a regular quarterly cash dividend of
$0.17 per common share for the second quarter of 2025, payable on May 30, 2025.
WINTER SPRINGS, Fla., May 05, 2025 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (the “Company”) (NASDAQ: IRMD) announced today its financial results for the three months ended March 31, 2025. The Company is a leader in developing innovative magnetic resonance imaging (“MRI”) compatible medical devices. The Company is a provider of (i) non-magnetic intravenous (“IV”) infusion pump system and (ii) a non-magnetic patient vital signs monitoring system that are each designed for use during MRI procedures.
"We are excited to begin 2025 with our fifteenth consecutive quarter of record revenue, achieving
“For the second quarter of 2025 financial guidance, we expect revenue of
The Company’s board of directors (the “Board”) declared a regular quarterly cash dividend of
Three Months Ended March 31, 2025
For the three months ended March 31, 2025, the Company reported revenue of
For the three months ended March 31, 2025, the Company reported non-GAAP net income of
Revenue Information:
| Three Months Ended | ||||||
| March 31, | ||||||
| 2025 | 2024 | |||||
| Devices: | (unaudited) | |||||
| MRI Compatible IV Infusion Pump Systems | $ | 5,999,212 | $ | 5,192,680 | ||
| MRI Compatible Patient Vital Signs Monitoring Systems | 6,544,679 | 6,461,658 | ||||
| Ferro Magnetic Detection Systems | 418,204 | 249,700 | ||||
| Total Devices revenue | 12,962,095 | 11,904,038 | ||||
| Amortization of extended warranty agreements | 560,199 | 487,131 | ||||
| Disposables | 4,947,088 | 4,013,875 | ||||
| Services and other | 1,041,255 | 1,193,075 | ||||
| Total revenue | $ | 19,510,637 | $ | 17,598,119 | ||
For the three months ended March 31, 2025, domestic sales were
Cash Flow from Operations
For the three months ended March 31, 2025, cash flow from operations was
As construction continues on the Company’s new facility in Orlando, Florida, the Company anticipates spending approximately
Financial Guidance
For the second quarter of 2025 financial guidance, the Company expects revenue of
The Company’s non-GAAP diluted earnings per share guidance excludes stock-based compensation expense, net of tax expense. The Company expects stock-based compensation expense, net of tax, to be approximately
Use of Non-GAAP Financial Measures
The Company believes using Non-GAAP net income, earnings per share, and free cash flow is helpful to our investors. These measures, which we refer to as our non-GAAP financial measures, are not prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.
We calculate non-GAAP net income as net income excluding:
(1) Stock-based compensation expense, net of tax. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash expenses, we believe that providing non-GAAP financial measures that exclude stock-based compensation expense allows for meaningful comparisons between our operating results from period to period;
(2) Operating expenses, net of tax, that we believe are not indicative of the Company’s ongoing core operating performance and;
(3) Infrequent income tax items are considered based on their nature and are excluded from the provision for income taxes as these costs or benefits are not indicative of our normal or future provision for income taxes.
We calculate free cash flow as net cash provided by operating activities, less net cash used in investing activities for the development of internal software and purchases of property and equipment.
We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by our business that can be used for strategic opportunities, including investing in our business, making strategic acquisitions, strengthening our balance sheet and returning cash to our stockholders through various means.
Our non-GAAP financial measures are important tools for financial and operational decision-making and for evaluating our ongoing core operating results.
A reconciliation of the non-GAAP financial measures used in this release to the most comparable GAAP measures for the respective periods can be found in the table later in this release immediately following the condensed statements of operations. These non-GAAP financial measures should not be considered in isolation or as a substitute for a measure of the Company’s operating performance or liquidity prepared in accordance with GAAP and are not indicative of net income or cash provided by operating activities.
Conference Call
The Company has scheduled a conference call to discuss this release beginning at 9:00 a.m. Eastern Time, May 5, 2025. Individuals interested in listening to the conference call may do so by registering here, https://register-conf.media-server.com/register/BI1cddc009ba2b427a81ea445f5669adff. Once registered a dial-in number, a unique PIN, and instructions will be provided to participants.
The conference call will also be available in real-time via the Internet at http://www.iradimed.com/en-us/investors/events/. A recording of the call will be available on the Company’s website following the call's completion.
About IRADIMED CORPORATION
IRADIMED CORPORATION is a leader in developing innovative Magnetic Resonance Imaging (“MRI”) compatible medical devices. We design, manufacture, market, and distribute MRI-compatible medical devices, accessories, disposables, and related services.
We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components that can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump system has a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts, and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution provides a seamless approach that enables accurate, safe, and dependable fluid delivery before, during, and after an MRI scan, which is essential to critically ill patients who cannot be removed from their vital medications and children and infants who must generally be sedated to remain immobile during an MRI scan.
Our 3880 MRI-compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The Iradimed 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The Iradimed 3880 has a compact, lightweight design, allowing it to travel with the patient from the critical care unit to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the Iradimed 3880 include wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature, and optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The Iradimed 3880 MRI-compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians.
For more information, please visit www.iradimed.com.
Forward-Looking Statements
This release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, that address activities that the Company assumes, plans, expects, believes, intends, projects, indicates, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements, including statements relating financial guidance, future quarterly cash dividends, construction costs for the Company’s new facility in Orlando, Florida, and the Company’s strategic plans, objectives, and intentions. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events. The forward-looking statements involve risks and uncertainties, including, among others, that our business plans may change as circumstances warrant.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made, which reflect management’s current estimates, projections, expectations, or beliefs, and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to; potential disruptions in our limited supply chain for our products; the Company’s ability to receive U.S. Food and Drug Administration (“FDA”) 510(k) clearance for new products and product candidates; unexpected costs, delays or diversion of management’s attention associated with the design, manufacturing or sale of new products; the Company’s ability to implement successful sales techniques for existing and future products and evaluate the effectiveness of its sales techniques; additional actions, warnings or requests from the FDA or other regulatory bodies; our significant reliance on a limited number of products; a reduction in international distribution; actions of the FDA or other regulatory bodies that could delay, limit or suspend product development, manufacturing or sales; the effect of recalls, patient adverse events or deaths on our business; difficulties or delays in the development, production, manufacturing and marketing of new or existing products and services; and changes in laws and regulations or in the interpretation or application of laws or regulations.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of the Company’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to, those included in Part II, Item 1A, “Risk Factors” of the Company’s Quarterly Reports on Form 10-Q, and Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as well as those otherwise described or updated from time to time in our other filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
| IRADIMED CORPORATION CONDENSED BALANCE SHEETS | |||||
| March 31, | December 31, | ||||
| 2025 | 2024 | ||||
| (unaudited) | (audited) | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 50,330,880 | $ | 52,233,907 | |
| Other current assets | 24,805,885 | 22,472,302 | |||
| Total current assets | 75,136,765 | 74,706,209 | |||
| Property and equipment, net | 20,377,795 | 16,810,797 | |||
| Other assets | 6,214,875 | 6,808,769 | |||
| Total assets | $ | 101,729,435 | $ | 98,325,775 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 2,590,044 | $ | 1,896,405 | |
| Deferred revenue | 2,598,549 | 2,259,616 | |||
| Other current liabilities | 3,284,851 | 4,356,287 | |||
| Total current liabilities | 8,473,444 | 8,512,308 | |||
| Deferred revenue, non-current | 3,201,561 | 2,993,287 | |||
| Operating lease liability, non-current | — | 1,424 | |||
| Total liabilities | 11,675,005 | 11,507,019 | |||
| Stockholders’ equity: | |||||
| Total stockholders’ equity | 90,054,430 | 86,818,756 | |||
| Total liabilities and stockholders’ equity | $ | 101,729,435 | $ | 98,325,775 | |
| IRADIMED CORPORATION CONDENSED STATEMENTS OF OPERATIONS (Unaudited) | |||||
| Three Months Ended | |||||
| March 31, | |||||
| 2025 | 2024 | ||||
| Revenue | $ | 19,510,637 | $ | 17,598,119 | |
| Cost of revenue | 4,667,831 | 4,210,396 | |||
| Gross profit | 14,842,806 | 13,387,723 | |||
| Operating expenses: | |||||
| General and administrative | 4,610,832 | 3,991,211 | |||
| Sales and marketing | 4,176,273 | 3,827,165 | |||
| Research and development | 624,245 | 821,000 | |||
| Total operating expenses | 9,411,350 | 8,639,376 | |||
| Income from operations | 5,431,456 | 4,748,347 | |||
| Other income, net | 513,973 | 495,154 | |||
| Income before provision for income taxes | 5,945,429 | 5,243,501 | |||
| Provision for income tax expense | 1,258,000 | 1,106,968 | |||
| Net income | $ | 4,687,429 | $ | 4,136,533 | |
| Net income per share: | |||||
| Basic | $ | 0.37 | $ | 0.33 | |
| Diluted | $ | 0.37 | $ | 0.32 | |
| Weighted average shares outstanding: | |||||
| Basic | 12,714,224 | 12,662,526 | |||
| Diluted | 12,825,672 | 12,749,973 | |||
| IRADIMED CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) Non-GAAP Net Income and Diluted EPS | ||||||
| Three Months Ended | ||||||
| March 31, | ||||||
| 2025 | 2024 | |||||
| Net income | $ | 4,687,429 | $ | 4,136,533 | ||
| Excluding: | ||||||
| Stock-based compensation expense, net of tax benefit | 654,243 | 496,626 | ||||
| Non-GAAP net income | $ | 5,341,672 | $ | 4,633,159 | ||
| Weighted-average shares outstanding – diluted | 12,825,672 | 12,749,973 | ||||
| Non-GAAP net income per share – diluted | $ | 0.42 | $ | 0.36 | ||
| Non-GAAP Free Cash Flow | ||||||
| Three Months Ended | ||||||
| March 31, | ||||||
| 2025 | 2024 | |||||
| Net cash provided by operating activities | $ | 4,292,092 | $ | 3,883,155 | ||
| Less: | ||||||
| Capital Expenditures | 3,917,300 | 478,804 | ||||
| Free cash flow | $ | 374,792 | $ | 3,404,351 | ||
Media Contact:
IRADIMED CORPORATION
(407) 677-8022
InvestorRelations@iradimed.com
FAQ
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