iRadimed(US:IRMD)2025-05-05 14:02Financial 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][13] - Gross profit margin was reported at 76.1%, consistent with Q1 2024 [14] - GAAP diluted earnings per share increased by 16% to $0.37 from $0.32 in Q1 2024 [15] - 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 [16] 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 [13][14] - Patient vital signs monitoring systems revenue remained steady at $6.5 million [14] - Service revenue remained stable at $1 million [14] Market Data and Key Metrics Changes - Domestic sales accounted for 82% of total revenue in Q1 2025, up from 76% in Q1 2024 [13] - Domestic revenue increased 19% to $16 million, while international sales declined 15% to $3.5 million [14] 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 [22] - The new 3,870 MRIV pump is expected to contribute to revenue in 2026, with clearance anticipated in mid-2025 [10] - The company is nearing completion of a new facility, with full operations expected by July 2025 [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the impact of tariffs, noting that only 3% of revenue is linked to high-tariff sources [6][8] - The FDA's responsiveness has been positive, with ongoing interactions indicating progress towards device clearance [27] - The company expects Q2 2025 revenue guidance of $19.7 million to $19.9 million, with full-year revenue guidance of $78 million to $82 million [11][12] Other Important Information - Operating expenses increased to $9.4 million, primarily due to higher general and administrative costs [15] - Cash flow from operations was $4.3 million, up 10% from Q1 2024 [16] Q&A Session Summary Question: Inquiry about disposables performance - Management indicated that the strong disposable revenue was partly due to working down backlog and expects growth to align with capital growth [18][19] Question: Composition of bookings and monitoring sales recovery - Management confirmed strong bookings for monitoring systems in Q1 and early Q2, indicating confidence in recovery [21][24] Question: Status of FDA interactions and clearance timeline - Management provided updates on FDA interactions, indicating ongoing communication and a hopeful timeline for clearance within a few weeks [25][27]