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1. Company Snapshot

1.a. Company Description

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally.It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.The company also provides non-magnetic IV poles, wireless remote displays/controls, side car pump modules, dose error reduction systems, and SpO2 monitoring with sensors and accessories.


It serves hospitals, acute care facilities, and outpatient imaging centers.The company sells its products through direct field sales representatives, regional sales directors, clinical support representatives, and independent distributors.IRADIMED CORPORATION was incorporated in 1992 and is headquartered in Winter Springs, Florida.

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1.b. Last Insights on IRMD

IRadimed Corporation's recent performance was driven by strong Q3 2024 earnings, beating estimates with $0.43 per share, and revenue growth. The company's innovative MRI medical devices, including its non-magnetic IV infusion pump system and patient vital signs monitoring systems, continue to gain traction. Additionally, IRadimed's declaration of a regular quarterly cash dividend of $0.15 per share and its inclusion in Forbes' list of America's Most Successful Small-Cap Companies for 2025 and Fortune's 100 Fastest Growing Companies List for 2024, demonstrate the company's financial stability and growth potential.

1.c. Company Highlights

2. IRADIMED's Q3 2025 Earnings: A Strong Performance

IRADIMED Corporation reported a robust Q3 2025, with revenue increasing 16% year-over-year to $21.2 million. The company's gross profit margin stood at 78%, and earnings per share (EPS) rose 8% to $0.43, slightly below the estimated $0.47 was not the case as actual came at '0.47' for Q4 guidance, but actual EPS was not disclosed for Q3. The strong revenue growth was led by pump shipments, particularly the 3860 MRI IV pump, which grew 20% year-over-year, and MR monitor sales, which rose 16%.

Publication Date: Nov -30

📋 Highlights
  • Revenue Growth:: Q3 2025 revenue rose 16% YoY to $21.2 million, driven by 20% YoY growth in 3860 MRI IV pump shipments.
  • Profitability:: Gross profit margin held strong at 78%, with EPS increasing 8% to $0.43.
  • Replacement Market Opportunity:: ~6,300 3860 pumps in the U.S. (over 5 years old) are projected to fuel future demand.
  • New Product Launch:: The 3870 MRI IV pump, cleared in Q2 2025, targets a $50M annual revenue run rate by 2026 through higher ASP and expanded utilization.
  • Guidance & Expansion:: Full-year 2025 revenue guidance raised to $82.5–83.5 million, with a new facility supporting $50M quarterly sales and international 3870 pump entry planned for 2027.

Business Outlook and New Product Rollout

The company is poised for further growth with the upcoming rollout of the new 3870 MRI IV pump system, cleared in Q2 2025. IRADIMED expects the new pump to tap into the greenfield opportunity more effectively and drive increased utilization among existing customers. With approximately 6,300 units in the US market alone that are over 5 years old and up for replacement, the company anticipates a significant replacement demand for the 3860 pump.

Future Growth Prospects and Guidance

IRADIMED expects to break into the $100-plus million revenue range, targeting the sale of 2,000 3870 pump channels annually at a higher average selling price (ASP). This would approach a $50 million revenue run rate for pumps, in addition to disposables, maintenance, international sales, and MR monitoring business. For Q4 2025, the company expects revenue of $21.4 million to $22.4 million and GAAP diluted EPS of $0.43 to $0.47. The company has raised its full-year 2025 guidance to $82.5 million to $83.5 million, with GAAP diluted EPS expected to be $1.68 to $1.72.

Valuation and Growth Expectations

With the current valuation metrics, including a P/E Ratio of 57.38, P/S Ratio of 15.27, and EV/EBITDA of 46.45, it's clear that the market has high growth expectations priced in. Analysts estimate next year's revenue growth at 10.2%. As Roger Susi stated, the revenue from the new 3870 pump is expected to start ramping up in the third and fourth quarters of 2026, which could potentially drive the company's revenue to new heights.

3. NewsRoom

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STERIS (NYSE:STE) & iRadimed (NASDAQ:IRMD) Head to Head Comparison

Dec -03

Source: defenseworld.net

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Analyzing Thermo Fisher Scientific (NYSE:TMO) and iRadimed (NASDAQ:IRMD)

Dec -02

Source: defenseworld.net

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iRadimed Corporation (NASDAQ:IRMD) Receives Average Recommendation of “Moderate Buy” from Analysts

Dec -01

Source: defenseworld.net

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

Nov -10

Source: globenewswire.com

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Iradimed (IRMD) CEO Sold 5,000 Shares Worth $413,216

Nov -09

Source: fool.com

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Spire Wealth Management Acquires New Holdings in iRadimed Corporation $IRMD

Nov -06

Source: defenseworld.net

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AlphaQuest LLC Reduces Holdings in iRadimed Corporation $IRMD

Nov -04

Source: defenseworld.net

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IRADIMED CORPORATION (IRMD) Q3 2025 Earnings Call Transcript

Nov -03

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.00%)

6. Segments

Magnetic Resonance Imaging Compatible Patient Vital Signs Monitoring Systems

Expected Growth: 12%

Increasing adoption of MRI-compatible patient monitoring systems driven by growing demand for non-invasive diagnostic imaging, advancements in medical technology, and rising healthcare expenditure. IRadimed's innovative products address safety concerns and improve patient outcomes, contributing to the 12% growth rate.

Magnetic Resonance Imaging Compatible Intravenous Infusion Pump System

Expected Growth: 11%

The 11% growth of IRadimed Corporation's Magnetic Resonance Imaging (MRI) Compatible Intravenous Infusion Pump System is driven by increasing demand for MRI-compatible medical devices, growing adoption of infusion pumps in hospitals, and rising need for accurate and safe medication delivery. Additionally, advancements in MRI technology and expanding applications in cancer treatment and neuroimaging are contributing to the growth.

Disposables, Services and Other

Expected Growth: 10%

{'Disposables': 'Increasing adoption of MRI-compatible IV infusion pumps and consumables, driven by growing demand for outpatient and ambulatory care services.', 'Services': "Expansion of service contracts and maintenance agreements, fueled by a growing installed base of IV infusion pumps and increasing customer reliance on IRadimed's technical support.", 'Other': 'Growing sales of MRI-compatible patient monitoring and anesthesia systems, driven by hospital investments in MRI suite upgrades and expansions.'}

Extended Warranty Agreements

Expected Growth: 9%

IRadimed's Extended Warranty Agreements growth is driven by increasing demand for MRI-compatible medical devices, expansion into new markets, and strategic partnerships. The company's focus on providing comprehensive warranty solutions, coupled with its strong brand reputation and customer loyalty, contributes to the 9% growth rate.

Ferro Magnetic Detection Systems

Expected Growth: 8%

Ferro Magnetic Detection Systems from IRadimed Corporation's 8% growth is driven by increasing demand for non-invasive patient monitoring, advancements in MRI-compatible technologies, and growing adoption in outpatient settings. Additionally, the need for accurate and reliable detection systems in medical procedures, such as cardiac and neuro interventions, contributes to the segment's growth.

7. Detailed Products

MRidium 3860

A non-magnetic MRI-compatible infusion pump system designed for use in high-field MRI environments

MRidium 3870

A high-field MRI-compatible infusion pump system with advanced safety features and wireless connectivity

IRadimed Non-Magnetic IV Poles

A range of non-magnetic IV poles designed for use in MRI environments

IRadimed MRI-Safe Accessories

A range of MRI-safe accessories, including oxygen sensors, pulse oximeters, and ECG leads

8. IRadimed Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for IRadimed Corporation is medium due to the presence of alternative medical devices and equipment that can be used in place of IRadimed's products.

Bargaining Power Of Customers

The bargaining power of customers for IRadimed Corporation is low due to the specialized nature of its products and the lack of alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers for IRadimed Corporation is medium due to the presence of multiple suppliers for its raw materials and components.

Threat Of New Entrants

The threat of new entrants for IRadimed Corporation is low due to the high barriers to entry in the medical device industry, including regulatory hurdles and the need for significant capital investment.

Intensity Of Rivalry

The intensity of rivalry for IRadimed Corporation is high due to the presence of several established competitors in the medical device industry, leading to a highly competitive market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 2.78%
Debt Cost 3.95%
Equity Weight 97.22%
Equity Cost 8.29%
WACC 8.17%
Leverage 2.86%

11. Quality Control: IRadimed Corporation passed 8 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
IRadimed

A-Score: 5.7/10

Value: 0.3

Growth: 8.1

Quality: 7.9

Yield: 3.0

Momentum: 9.0

Volatility: 5.7

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Fonar

A-Score: 4.9/10

Value: 7.7

Growth: 2.3

Quality: 6.1

Yield: 0.0

Momentum: 6.0

Volatility: 7.3

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Electromed

A-Score: 4.8/10

Value: 2.9

Growth: 8.7

Quality: 7.8

Yield: 0.0

Momentum: 6.5

Volatility: 3.0

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UFP Technologies

A-Score: 4.0/10

Value: 3.1

Growth: 9.2

Quality: 6.6

Yield: 0.0

Momentum: 1.0

Volatility: 4.3

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Sensus Healthcare

A-Score: 3.4/10

Value: 7.5

Growth: 6.6

Quality: 4.2

Yield: 0.0

Momentum: 0.5

Volatility: 1.7

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electroCore

A-Score: 3.3/10

Value: 7.2

Growth: 7.2

Quality: 3.6

Yield: 0.0

Momentum: 0.5

Volatility: 1.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

94.57$

Current Price

94.57$

Potential

-0.00%

Expected Cash-Flows