Iradimed reported record third-quarter revenue as demand for its MRI-compatible infusion pumps and patient-monitoring products grew. The medical-device maker also raised its fourth-quarter revenue outlook but lowered the top end of its full-year revenue and earnings forecasts, and declared a quarterly dividend of $0.20 per share.
Management attributed the quarter’s growth to the launch of its new 3870 MR IV pump. It said production is ramping up and gross margin improved sequentially, while customer bookings reached records.
Key details
- Revenue and earnings increased: Third-quarter revenue was $24.2 million, up 14% from $21.2 million a year earlier and 18% from the second quarter. Net income rose 17% year over year to $6.5 million. Diluted earnings per share were $0.51 on a GAAP basis and $0.55 excluding stock-based compensation.
- Year-to-date growth continued: For the first nine months of 2026, revenue totaled $66.6 million, up 9% from the same period in 2025. Net income increased 9% to $17.5 million, and diluted earnings per share rose 10% to $1.37.
- Bookings set records: The company said quarterly bookings reached a record, including a record number of patient monitors booked and a 45% year-over-year increase in domestic pump channels booked. More than 70% of pump bookings were for a “quad stack” configuration, with four pumps on one IV pole. Iradimed said customers are replacing older models and adopting the setup, which doubles the pump channels available at each MRI.
- Production efficiencies are beginning to show: Iradimed said its manufacturing team is increasing output of the 3870 pump and beginning to realize anticipated efficiencies. Gross margin improved from the prior quarter, though the company did not provide a margin figure in the announcement.
- Fourth-quarter outlook: Iradimed expects revenue of $25.0 million to $26.5 million, GAAP diluted EPS of $0.53 to $0.57 and non-GAAP diluted EPS of $0.57 to $0.61. The company described the revenue forecast as reaching a $100 million annualized run rate.
- Full-year guidance revised: The company now expects 2026 revenue of $91.6 million to $93.1 million, compared with its prior range of $91.0 million to $96.0 million. Its GAAP EPS forecast is now $1.90 to $1.94, versus $1.90 to $2.05 previously; non-GAAP EPS is expected at $2.07 to $2.11, compared with $2.06 to $2.21.
- Quarterly dividend: The board declared a $0.20-per-share cash dividend. Shareholders of record on November 13 will be paid on November 27.
What changes for investors
The quarter’s higher revenue and record bookings point to stronger demand, particularly for the new pump and the four-pump configuration. The updated full-year outlook is more cautious at the upper end: the company cut the maximum revenue and earnings it expects for 2026, even as it raised its fourth-quarter revenue forecast. The dividend provides a scheduled cash return of $0.20 per share.