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IRMD

IRadimed Corporation

IRMD

IRadimed Corporation • NASDAQ
$93.22 ▲ 0.42% (+0.39)
Market Cap $1.19 B
52w High $93.43
52w Low $47.48
Dividend Yield 0.68%
P/E 56.5
Volume 21.02K
Outstanding Shares 12.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $21.202M ▲ $9.661M ▲ $5.577M ▼ 26.302% ▼ $0.438 ▼ $7.681M ▼
Q2-2025 $20.409M ▲ $9.167M ▼ $5.774M ▲ 28.291% ▲ $0.45 ▲ $7.92M ▲
Q1-2025 $19.511M ▲ $9.411M ▲ $4.687M ▼ 24.025% ▼ $0.37 ▼ $5.626M ▼
Q4-2024 $19.389M ▲ $8.961M ▲ $5.147M ▲ 26.545% ▼ $0.41 ▲ $6.539M ▲
Q3-2024 $18.326M $8.403M $5.049M 27.554% $0.4 $5.987M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $56.526M ▲ $114.722M ▲ $16.37M ▲ $98.352M ▲
Q2-2025 $52.996M ▲ $106.447M ▲ $12.146M ▲ $94.301M ▲
Q1-2025 $50.331M ▼ $101.729M ▲ $11.675M ▲ $90.054M ▲
Q4-2024 $52.234M ▲ $98.326M ▲ $11.507M ▲ $86.819M ▲
Q3-2024 $51.721M $94.247M $10.814M $83.433M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.577M ▼ $6.986M ▼ $-1.264M ▲ $-2.192M ▲ $3.53M ▲ $5.848M ▲
Q2-2025 $5.774M ▲ $7.746M ▲ $-2.824M ▲ $-2.258M ▲ $2.665M ▲ $4.923M ▲
Q1-2025 $4.687M ▼ $4.292M ▼ $-3.917M ▼ $-2.278M ▲ $-1.903M ▼ $594.624K ▼
Q4-2024 $5.147M ▲ $5.987M ▼ $-3.057M ▲ $-2.417M ▼ $512.856K ▼ $2.93M ▼
Q3-2024 $5.049M $9.116M $-4.011M $-1.918M $3.186M $5.104M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
MRI Compatible Patient Vital Signs Monitoring Systems
MRI Compatible Patient Vital Signs Monitoring Systems
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement IRadimed’s income statement shows a company that has moved from being small and emerging to solidly profitable and steadily growing. Revenue has climbed each year over the past five years, and profits have grown even faster than sales. This suggests the business is scaling well, with costs staying under control as it sells more products. Gross margins look strong, meaning the company keeps a large share of each dollar of sales after direct costs. Operating profits and net income have both trended upward, with earnings per share rising significantly since the early pandemic period. That points to a focused niche business with good pricing power and disciplined spending, rather than a volume-only growth story. The main risk on the income side is concentration: performance is heavily tied to a relatively narrow set of specialized MRI-compatible devices. Any disruption in demand, pricing, or regulation in this niche could have an outsized impact on earnings, even though the current trajectory is clearly positive.

Balance Sheet

Balance Sheet The balance sheet looks clean, conservative, and cash-rich. Total assets have grown gradually, and shareholder equity has increased over time, which is what you want to see in a steadily profitable company. A key strength is the absence of debt, which reduces financial risk and gives management more flexibility through different economic or hospital spending cycles. Cash balances are sizable relative to the company’s size and have stayed consistently high, rather than being drawn down to cover losses or heavy borrowing. Overall, the company appears to be funding its growth mainly from its own profits, not from lenders. The main consideration is that, with such a strong balance sheet, future returns will depend more on how effectively management reinvests that cash into new products, markets, or shareholder-focused uses, rather than on balance-sheet repair.

Cash Flow

Cash Flow Cash flow performance reinforces the income statement story. The business has regularly generated cash from operations, and this cash generation stepped up meaningfully in the most recent year. That suggests earnings are of good quality and not just “paper profits.” Free cash flow has been positive throughout the period, even after accounting for investment in equipment and other capital needs. Recent years show a modest pickup in capital spending, which can be a healthy sign that the company is investing in its own capacity, technology, or infrastructure while still comfortably covering those outlays from internal cash. The main watchpoint is that, as the company invests more in growth and new products, cash needs could rise. For now, though, the pattern is of a self-funding business with room to support product development, sales expansion, and possibly strategic initiatives without straining its finances.

Competitive Edge

Competitive Edge IRadimed occupies a very specific niche: MRI-compatible infusion pumps, patient monitors, and related safety devices. Within that niche, it appears to hold a leading, and in some aspects near-unique, position. Being the only known provider of a dedicated non-magnetic IV infusion pump system for MRI use gives it a strong advantage in a market where safety, regulatory clearance, and reliability matter a great deal. This specialization creates real barriers to entry. Designing non-magnetic equipment that functions safely inside an MRI environment is technically challenging, heavily regulated, and requires deep domain expertise. Hospitals and imaging centers tend to be cautious about switching vendors for such critical devices, which can lead to sticky, long-term relationships. The reported pullback of a key competitor strengthens IRadimed’s position, potentially leaving it as the default choice for many facilities. The flip side is concentration risk: being dominant in a niche can be very profitable but also ties the company’s fortunes to that specific area. If large imaging equipment makers or diversified device companies decide to re-enter or target this space, competitive pressure could eventually rise from a stronger base.

Innovation and R&D

Innovation and R&D Innovation is at the heart of IRadimed’s story. The company’s patented non-magnetic ultrasonic motor and non-ferrous component designs are not just incremental tweaks; they are fundamental to making MRI-compatible devices work safely and reliably. This technical edge underpins both its current products and its competitive moat. The product lineup—MRI-safe infusion pumps, patient monitoring systems, and ferrous metal detectors—forms a focused ecosystem for the MRI suite. Each product supports the others and deepens the company’s relationship with hospitals by offering an integrated solution rather than standalone items. Looking ahead, the new generation MRidium 3870 infusion pump, with improved user interface and flexibility, is positioned as a key future growth driver. If adoption and pricing develop as hoped, it could trigger a replacement cycle among existing customers and help win new ones. Still, there is execution risk: regulatory timelines, hospital budgeting cycles, and clinician acceptance all influence how quickly new products translate into real-world sales. Overall, IRadimed appears to be investing in continuous product improvement rather than chasing broad, unfocused expansion, which can be a positive sign for long-term durability of its niche.

Summary

Putting it all together, IRadimed looks like a focused, profitable niche medical device company with a strong financial base and a defensible position in a specialized corner of the MRI suite. On the financial side, it shows steadily rising sales, expanding profits, a debt-free balance sheet, and consistent positive cash flow. This combination suggests an operationally disciplined business with real economic strength, not just top-line growth. Strategically, its edge comes from deep specialization in MRI-compatible devices, protected by patents, regulatory know-how, and practical performance in high-stakes hospital environments. The withdrawal of a key competitor tilts the field further in its favor, though it also underscores the narrowness of the market it serves. Future outcomes will depend on how well IRadimed can: - Drive adoption of its next-generation pump and related products, - Maintain its technological lead and regulatory approvals, - Manage concentration risk around a relatively small but critical market. Overall, the company appears financially sound and strategically well-positioned within its chosen niche, with both clear strengths and typical risks tied to specialization, product concentration, and ongoing innovation demands.

NEWS

November 10, 2025 · 9:00 AM UTC

IRADIMED CORPORATION Named to TIME's List of America's Growth Leaders for 2026

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November 3, 2025 · 8:30 AM UTC

IRADIMED CORPORATION Reports Record Third Quarter 2025 Financial Results

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October 27, 2025 · 4:05 PM UTC

IRADIMED CORPORATION to Hold Third Quarter of 2025 Financial Results Conference Call on November 3, 2025

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