Sometimes you just have to pay for quality. I advocate this no more than with IRadimed Corporation (NASDAQ: IRMD ), a business with among the most exceptional economic characteristics I have come across inEquity strategist (US Equities)Technical focus on fundamental value drivers of business economics to uncover high probability long-term compounders. Seeking to buy at appropriate prices relative to intrinsic worth. Partners are represented over the cross-section of financial markets, from speculators, hedg ...

Iradimed Corporation (IRMD 13.04%), a medical device maker specializing in MRI-compatible infusion pumps and patient monitoring systems, reported its second quarter 2025 earnings on August 1, 2025. The headline news was another round of record revenue and profit, with revenue of $20.41 million and non-GAAP earnings per share of $0.49. These results comfortably topped analyst forecasts, which had called for $20.01 million in revenue and $0.435 in non-GAAP EPS. Compared to the guidance issued last quarter, bo ...

FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 12705 Ingenuity Drive Orlando, Florida 32826 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No.: 001-36534 IRADIMED CORPORATION (Exact name of Registrant as specified in its charte ...

Financial Data and Key Metrics Changes - For Q2 2025, the company reported revenue of $20.4 million, a 14% increase from $17.9 million in Q2 2024 [12] - Gross profit margin remained strong at 78%, with net income increasing 18% to $5.8 million or $0.45 per diluted share compared to $4.9 million or $0.38 per diluted share in 2024 [14] - The company raised its full-year revenue guidance to $80 million to $82.5 million, reflecting a 9% to 13% growth over 2024's $73.2 million [10] Business Line Data and Key Metrics Changes - MRI compatible IV infusion pump systems contributed $8.2 million, up 19% year over year, while patient vital signs monitoring systems contributed $5.9 million, up 9% [12] - Disposables revenue grew 14% to $4.2 million, indicating increased utilization of devices [13] - Domestic sales increased 18% to $18.2 million, while international sales decreased 9% to $2.2 million, with domestic revenue accounting for 89% of total revenue [13] Market Data and Key Metrics Changes - The company anticipates a significant demand for replacing older 3,860 model pumps, with over 6,200 units in the U.S. market alone that are over five years old [8] - The company expects to increase annual sales from 1,000 to 2,000 channels for pump replacements starting in 2026 [9] Company Strategy and Development Direction - The company aims to achieve a revenue run rate exceeding $100 million by 2026, driven by the new 3,870 pump and increased replacement sales [7] - The new pump is expected to have a higher average selling price (ASP) of approximately 12% more than the existing pump, which may positively impact gross margins [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong backlog and anticipated continued growth, particularly with the introduction of the new 3,870 pump [18] - The company acknowledged potential operational inefficiencies during the transition to a new facility but remains optimistic about future performance [10] Other Important Information - The company declared a quarterly dividend of $0.17 per share for Q3, payable on August 28, 2025 [10] - Cash flow from operations was reported at $7.7 million for the quarter, up 17% from $6.6 million in 2024 [15] Q&A Session Summary Question: Can you talk about the composition of the current backlog? - Management confirmed a record backlog as of June 30, composed of both pumps and monitoring systems, providing good visibility into the second half of the year [17] Question: How do you expect 3860 sales to trend in front of 3,870 launching? - Management indicated that orders for the older pump would remain strong until the new pump is actively marketed, expected around December [20] Question: What is the expected ramp-up to the $50 million of pump revenue? - Management expects a gradual increase in bookings for the new pump, with Q1 anticipated to be weak but strong growth expected in subsequent quarters [25] Question: How long does it take to fulfill the backlog? - The backlog for monitors is about four to five weeks, while the pump backlog is approximately five to six months [35] Question: Will there be upgrades from the backlog? - Management stated that only a limited number of new pumps would be delivered this year for feedback purposes, with no significant upgrades expected from the backlog [36]

iRadimed (IRMD) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +8.89%. A quarter ago, it was expected that this maker of IV devices that can be used in MRI machines would post earnings of $0.43 per share when it actually produced earnings of $0.42, delivering a surprise of -2.33%.Ove ...

Exhibit 99.1 "We are proud to report our sixteenth consecutive quarter of record revenue, reaching $20.4 million in the second quarter of 2025, a 14% increase year-over-year. Our GAAP diluted EPS of $0.45, up 18% year- over-year and an increase of 22% from the first quarter of 2025, which exceeds our guidance and reflects our relentless focus on operational excellence. Our gross profit margin for the quarter was 78%, driven in part by increased overhead absorption as we ramped up finished goods inventory ah ...

Core Insights - Iradimed Corporation reported record revenue of $20.4 million for Q2 2025, marking a 14% increase year-over-year, and a GAAP diluted EPS of $0.45, up 18% year-over-year [3][9][10] - The company raised its full-year 2025 revenue guidance to a range of $80.0 million to $82.5 million, and GAAP diluted EPS guidance to $1.60 to $1.70 [4][17] - A quarterly cash dividend of $0.17 per share was declared, payable on August 28, 2025 [5][9] Financial Performance - For Q2 2025, net income was reported at $5.8 million, an 18% increase from $4.9 million in Q2 2024, translating to $0.45 per diluted share [6][10] - Non-GAAP net income for Q2 2025 was $6.4 million, a 19% increase from $5.4 million in Q2 2024, with non-GAAP diluted EPS at $0.49, up 17% [7][11] - For the first half of 2025, total revenue reached $39.9 million, a 12% increase from $35.5 million in the same period of 2024, with net income of $10.5 million, up 16% [10][11] Operational Highlights - The gross profit margin for Q2 2025 was 78%, consistent with the same period in 2024, driven by increased overhead absorption [3][12] - Domestic sales accounted for 89% of total revenue in Q2 2025, compared to 86% in Q2 2024 [12] - The company completed the construction of a new facility in Orlando, Florida, with total construction costs of approximately $12.6 million [16] Future Outlook - For Q3 2025, the company expects revenue between $20.5 million and $20.9 million, with GAAP diluted EPS guidance of $0.41 to $0.45 [4][17] - The anticipated commercialization of a next-generation MRI-compatible IV infusion pump is expected to drive sustained growth starting late 2025 [3][4]

Core Viewpoint - Iradimed Corporation will release its 2025 second quarter financial results on August 1, 2025, and will host a conference call to discuss these results [1][2]. Company Overview - Iradimed Corporation is a leader in developing MRI-compatible medical devices, specifically known for its non-magnetic intravenous infusion pump system designed for safe use during MRI procedures [3]. - The company has developed the patented MRidium® MRI compatible IV infusion pump system, which eliminates dangers associated with standard infusion pumps that contain magnetic components [3]. - The Iradimed 3880 MRI compatible patient vital signs monitoring system is designed with non-magnetic components, allowing it to operate in magnetic fields up to 30,000 gauss, ensuring patient safety during MRI procedures [4]. Product Features - The MRidium® system provides accurate and safe delivery of anesthesia and IV fluids during MRI scans, crucial for critically ill patients and children who require sedation [3]. - The Iradimed 3880 system features wireless ECG, SpO2 monitoring, non-magnetic respiratory CO2 monitoring, and advanced multi-gas anesthetic agent unit capabilities [4].

Core Insights - Iradimed Corporation has received FDA 510(k) clearance for its next-generation MRidium® 3870 IV Infusion Pump System, reinforcing its position as the only supplier of non-magnetic MRI infusion pump devices [1][3] - The MRidium® 3870 is designed to meet the increasing demand for safe fluid delivery in MRI environments, featuring advanced technology such as a non-magnetic ultrasonic pump motor and an intuitive touchscreen interface [2][3] Company Overview - Iradimed Corporation specializes in developing innovative MRI-compatible medical devices, including infusion pumps and patient monitoring systems [4][5] - The company is recognized as the only provider of a non-magnetic intravenous infusion pump system specifically designed for MRI procedures, addressing safety concerns associated with standard infusion pumps [5] Product Features - The MRidium® 3870 includes features such as non-interfering RF emissions, non-ferrous components, and the ability to operate as a four-channel IV infusion pump system, enhancing patient safety and workflow efficiency [2][3] - The system also incorporates a modern drug library solution, accommodating various patient care areas and drug listings, which broadens its application in MRI settings [2] Strategic Plans - The company plans to strategically roll out the MRidium® 3870 infusion pump, with initial deployments to select healthcare facilities in Q4 2025, followed by a ramp-up in material shipments throughout 2026 [3]

[Cautionary Note Regarding Forward-Looking Statements](index=3&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This report contains forward-looking statements, subject to numerous risks and uncertainties that could cause actual results to differ materially - This report contains forward-looking statements, subject to **numerous risks and uncertainties** that could cause actual results to differ materially[8](index=8&type=chunk) - Key risks include **FDA 510(k) clearance**, **reliance on limited products**, **supply chain integrity**, **competition**, **regulatory changes**, and **geopolitical impacts**[8](index=8&type=chunk)[10](index=10&type=chunk)[13](index=13&type=chunk) - The company disclaims any obligation to update forward-looking statements, advising readers to consider **detailed risks** in this 10-Q and 2024 Annual Report on Form 10-K[11](index=11&type=chunk) [Part I: Financial Information](index=8&type=section&id=Part%20I%20Financial%20Information) [Item 1: Financial Statements](index=8&type=section&id=Item%201%20Financial%20Statements) Unaudited Q1 2025 financials reflect asset growth, 11% revenue increase, and strong net income, with robust operating cash flow [Condensed Balance Sheets](index=8&type=section&id=Condensed%20Balance%20Sheets) Total assets increased by March 31, 2025, primarily due to property and equipment investments, with stockholders' equity also growing Condensed Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $50,331 | $52,234 | | Total current assets | $75,137 | $75,242 | | Property and equipment, net | $20,378 | $16,811 | | Total assets | $101,729 | $98,326 | | **Liabilities & Equity** | | | | Total current liabilities | $8,473 | $8,512 | | Total liabilities | $11,675 | $11,507 | | Total stockholders' equity | $90,054 | $86,819 | | Total liabilities and stockholders' equity | $101,729 | $98,326 | [Condensed Statements of Operations](index=9&type=section&id=Condensed%20Statements%20of%20Operations) Q1 2025 saw an 11% revenue increase, with gross profit rising and net income growing 13.3%, leading to higher diluted EPS Q1 2025 vs Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $19,511 | $17,598 | 10.9% | | Gross Profit | $14,843 | $13,388 | 10.9% | | Income from Operations | $5,431 | $4,748 | 14.4% | | Net Income | $4,687 | $4,137 | 13.3% | | Diluted EPS | $0.37 | $0.32 | 15.6% | [Condensed Statements of Stockholders' Equity](index=10&type=section&id=Condensed%20Statements%20of%20Stockholders%27%20Equity) Stockholders' equity increased in Q1 2025, primarily driven by net income and partially offset by declared dividends - Key changes in stockholders' equity for Q1 2025 include **net income of $4.7 million**, **dividends declared of $2.2 million**, and **stock-based compensation expense of $0.8 million**[20](index=20&type=chunk) [Condensed Statements of Cash Flows](index=11&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Q1 2025 cash flows show strong operating cash, significant investment in property, and cash used for financing, resulting in a net decrease Q1 2025 vs Q1 2024 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,292 | $3,883 | | Net cash used in investing activities | ($3,917) | ($479) | | Net cash used in financing activities | ($2,278) | ($8,040) | | **Net decrease in cash** | **($1,903)** | **($4,636)** | - The significant increase in cash used for investing activities in Q1 2025 is attributed to **$3.7 million in purchases of property and equipment**, compared to just **$0.3 million in Q1 2024**[23](index=23&type=chunk) - Cash used in financing activities decreased significantly year-over-year, as Q1 2024 included a **large special dividend payment of nearly $8.0 million**, compared to the **regular quarterly dividend of $2.2 million in Q1 2025**[23](index=23&type=chunk) [Notes to Unaudited Condensed Financial Statements](index=12&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) Notes confirm single segment, detail U.S. revenue growth, international decline, ongoing IRS examination, and a declared quarterly dividend Revenue Breakdown by Geography and Type (Q1 2025 vs Q1 2024, in thousands) | Revenue Category | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | **By Geography** | | | | | United States | $15,953 | $13,409 | 19.0% | | International | $3,558 | $4,189 | (15.1%) | | **By Type** | | | | | Total Devices | $12,962 | $11,904 | 8.9% | | Disposables | $4,947 | $4,014 | 23.2% | - The company is currently under an **IRS examination** for the tax year ended December 31, 2021, but has not accounted for any proposed adjustments[49](index=49&type=chunk) - On May 5, 2025, the Board of Directors declared a **regular quarterly cash dividend of $0.17 per share**, payable on May 30, 2025[58](index=58&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q1 2025 revenue growth to strong U.S. demand, maintaining stable gross margins despite rising operating expenses, and anticipates continued fiscal 2025 growth - The company is a leader in **MRI compatible medical devices**, including its **non-magnetic MRidium® IV infusion pump system**, the **3880 patient vital signs monitoring system**, and the **3600 ferromagnetic detection device**[61](index=61&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk) - For the remainder of fiscal year 2025, the company anticipates **higher revenue** compared to 2024, driven by increased sales across its product lines, and expects **higher operating expenses** in sales, marketing, regulatory, and G&A areas[69](index=69&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Q1 2025 revenue increased 11% driven by U.S. sales growth, offsetting international decline, with stable gross margins and varied operating expense changes Revenue by Type (Q1 2025 vs Q1 2024, in millions) | Revenue Type | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Devices | $13.0 | $11.9 | 9% | | Disposables | $4.9 | $4.0 | 23% | | Services and other | $1.0 | $1.2 | (13%) | | **Total Revenue** | **$19.5** | **$17.6** | **11%** | - General and administrative expenses increased by **15% to $4.6 million**, primarily due to higher legal, professional, and payroll expenses[84](index=84&type=chunk) - Research and development expenses decreased by **25% to $0.6 million**, mainly due to a reduction in the purchase of prototype materials[86](index=86&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with substantial cash and working capital, with operating cash flow supporting investments and dividends, and a shelf registration available - The company has a **shelf registration statement on Form S-3**, effective May 8, 2024, allowing for the sale of up to **$75.0 million of its common stock**, with the full amount remaining available as of March 31, 2025[93](index=93&type=chunk) - Cash used in investing activities increased to **$3.9 million in Q1 2025** from **$0.5 million in Q1 2024**, primarily due to **construction costs for a new facility**[96](index=96&type=chunk) - The company commenced a **regular quarterly dividend in 2024**, in addition to a **special dividend paid in March 2024**[97](index=97&type=chunk) [Item 3: Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risks have occurred since the 2024 Annual Report on Form 10-K - There have been **no material changes in market risks** since the 2024 Annual Report[103](index=103&type=chunk) [Item 4: Controls and Procedures](index=32&type=section&id=Item%204%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of March 31, 2025[105](index=105&type=chunk) - **No changes to internal control over financial reporting** occurred during the quarter that would have a material effect[106](index=106&type=chunk) [Part II: Other Information](index=33&type=section&id=Part%20II%20Other%20Information) [Item 1: Legal Proceedings](index=33&type=section&id=Item%201%20Legal%20Proceedings) The company is not currently party to any legal proceedings expected to have a material adverse effect on its operations - The company may become party to legal proceedings in the ordinary course of business but does not believe any known matters will have a **material adverse effect**[108](index=108&type=chunk) [Item 1A: Risk Factors](index=33&type=section&id=Item%201A%20Risk%20Factors) No material changes to risk factors from the 2024 Annual Report, except for expanded discussion on potential adverse effects of changing trade policies and tariffs - A key risk factor highlighted is the **uncertainty and potential adverse impact of changes in trade policies**, such as tariffs imposed by the U.S. and retaliatory measures by other countries[110](index=110&type=chunk) - Tariffs could **increase the cost of sourced materials**, impact product pricing, and potentially **reduce sales and profitability**, making the company susceptible to trade disputes due to global sales and sourcing[111](index=111&type=chunk) [Item 2: Unregistered Sale of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202%20Unregistered%20Sale%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the period - None[113](index=113&type=chunk) [Item 3: Default Upon Senior Securities](index=35&type=section&id=Item%203%20Default%20Upon%20Senior%20Securities) Not applicable - Not Applicable[114](index=114&type=chunk) [Item 4: Mine Safety Disclosures](index=35&type=section&id=Item%204%20Mine%20Safety%20Disclosures) Not applicable - Not Applicable[115](index=115&type=chunk) [Item 5: Other Information](index=35&type=section&id=Item%205%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during Q1 2025 - No directors or officers adopted or terminated a **Rule 10b5-1 trading arrangement** during the quarter ended March 31, 2025[116](index=116&type=chunk) [Item 6: Exhibits](index=36&type=section&id=Item%206%20Exhibits) The report lists various exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files - Key exhibits include **CEO and CFO certifications** (31.1, 31.2, 32.1) and **Inline XBRL documents** (101 series)[117](index=117&type=chunk)