Core Insights - Iradimed Corporation reported record revenue and profit for Q2 2025, with revenue of $20.41 million and non-GAAP EPS of $0.49, surpassing analyst expectations and the company's own guidance [1][2][9] Financial Performance - Revenue increased by 14% year-over-year from $17.93 million in Q2 2024 to $20.41 million in Q2 2025 [2][5] - Non-GAAP EPS rose 17% from $0.42 in Q2 2024 to $0.49 in Q2 2025, while GAAP EPS increased 18% from $0.38 to $0.45 [2][6] - Gross profit margin remained stable at 78% [2][6] - Free cash flow decreased by 8% year-over-year to $4.92 million [2][6] Product Performance - MRI-compatible IV infusion pump systems, the largest product group, saw revenue growth of approximately 15.5% compared to Q2 2024 [5] - Patient vital signs monitoring systems grew by approximately 1.3%, while disposables expanded by 14% [5] - Ferro magnetic detection systems experienced the highest growth at 32% compared to Q2 2024 [5] Business Strategy - The company focuses on technological innovation, expanding its installed base, and maintaining regulatory compliance [4] - A new manufacturing facility is nearing completion to meet increasing demand [4][6] Geographic Distribution - Domestic sales accounted for 89% of total revenue, up from 86% a year ago, while international sales remained flat or lower [7] Future Outlook - For Q3 2025, revenue guidance is set between $20.5 million and $20.9 million, with projected non-GAAP EPS of $0.45 to $0.49 [11] - Fiscal 2025 revenue outlook has been raised to $80.0–$82.5 million, with non-GAAP EPS expected between $1.76 and $1.86 [11] - The next-generation MRidium 3870 pump is expected to launch commercially in late 2025 [10]

Financial Performance - Net sales increased by 29% to a record of $46.7 million[13], driven by a 100% increase in Fire Services products[13] - U S net sales increased 42% to $22.5 million[13] and Europe net sales increased 102% to $12.1 million[13] - Gross margin decreased to 33.5% from 44.6% for the comparable year-ago period[13] - Adjusted EBITDA excluding FX was $0.6 million, a decrease of $3.2 million, or 84%, compared with $3.8 million for the comparable year-ago period[13] - Net loss of $3.9 million, driven by lower margins and $1.8 million of non-cash expenses[21] Balance Sheet and Cash Flow - Net inventories increased by $3.1 million, totaling $85.8 million on April 30, 2025[13] - Cash and cash equivalents increased from $17.5 million to $18.6 million[14] - Organic inventory is up $14.8 million year over year[42] Looking Ahead - The company reiterates FY 2026 revenue guidance of $210 million to $220 million and adjusted EBITDA excluding FX guidance of $24 million to $29 million[13,45]

Financial Data and Key Metrics Changes - For Q1 2025, the company achieved revenue of $19.5 million, an 11% increase from $17.6 million in Q1 2024 [4][11] - Gross profit margin was reported at 76.1%, consistent with Q1 2024 [12] - GAAP diluted earnings per share increased by 16% to $0.37 from $0.32 in Q1 2024 [13] - Non-GAAP adjusted net income was $5.3 million or $0.42 per diluted share, up 17% from $4.6 million or $0.36 per diluted share in Q1 2024 [14] Business Line Data and Key Metrics Changes - Revenue from IV infusion pump systems grew 16% to $6 million, while disposable revenue increased 23% to $4.9 million [11][12] - Patient vital signs monitoring systems revenue remained steady at $6.5 million [12] - Domestic sales accounted for 82% of total revenue, up from 76% in Q1 2024, with domestic revenue increasing 19% to $16 million [12] Market Data and Key Metrics Changes - International sales declined 15% to $3.5 million [12] - Device revenue increased 9% to $13 million, driven by pump revenue and FMD systems [12] Company Strategy and Development Direction - The company is focused on increasing monitoring sales in 2025, anticipating a decline in pump revenues later in the year [21] - The new 3,870 MRIV pump is expected to be a revenue driver in 2026, with clearance anticipated in mid-2025 [9][10] - The company is nearing completion of a new facility, with full operations expected by July 2025 [10] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the impact of tariffs, noting that only 3% of revenue is connected to high tariff sources [6][7] - The FDA's responsiveness has been positive, with ongoing interactions indicating progress towards device clearance [25][27] - The company expects Q2 2025 revenue guidance of $19.7 million to $19.9 million, reiterating full-year revenue guidance of $78 million to $82 million [10] Other Important Information - Operating expenses were $9.4 million, or 48% of revenue, down from 49% in Q1 2024 [12] - Cash flow from operations was $4.3 million, up 10% from $3.9 million in Q1 2024 [14] Q&A Session Summary Question: Any anomalies in disposable revenue growth? - Management indicated that some backlog was worked down in Q1, contributing to the growth, but expects future growth to align with capital growth [17][18] Question: Confidence in monitoring sales recovery? - Management emphasized efforts to boost monitoring sales through adjusted compensation structures, with strong bookings already seen in Q2 [20][22] Question: Status of FDA interactions and clearance timeline? - Management noted ongoing interactive questions from the FDA, suggesting a positive sign, with expectations for clarity in the next three to four weeks [24][27]