Iradimed reported third‑quarter 2025 revenue of $21.2 million, a 16% year‑over‑year increase from $18.3 million in Q3 2024. Gross margin stood at 78%, and net income reached $5.6 million, translating to GAAP diluted earnings per share of $0.43. Operating cash flow fell 23% to $7.0 million, while the company maintained $53 million in cash and equivalents at quarter end.
The company raised its full‑year 2025 revenue guidance to $82.5–$83.5 million and GAAP diluted EPS to $1.68–$1.72. Fourth‑quarter guidance projects revenue of $21.4–$22.4 million and EPS of $0.43–$0.49. Iradimed will pay its regular $0.17 quarterly dividend on November 25, 2025.
Operational highlights include the full operationalization of a new Orlando manufacturing facility, built at a cost of approximately $13.3 million, and the planned limited commercial shipments of the MRidium 3870 MRI‑compatible IV infusion pump in December 2025, with a full U.S. rollout in the first quarter of 2026. The company’s backlog for pumps and monitors reached an all‑time high, and management expects the 3870 launch to accelerate replacement cycles for older units, positioning the company to surpass a $100 million revenue run‑rate in 2026. Iradimed has achieved 17 consecutive quarters of record revenue, extending a streak that began in Q2 2024.
The 78% gross margin reflects strong pricing power and efficient production, while the decline in operating cash flow is attributed to higher inventory levels, prepaid expenses, and accounts receivable. The company’s competitive advantage lies in being the only provider of a non‑magnetic IV infusion pump system designed for MRI procedures, a niche that supports sustained demand and growth.
Iradimed’s Q3 earnings per share of $0.43 exceeded the prior year’s $0.40 and the preceding quarter’s $0.45, underscoring continued profitability growth amid expanding product demand.
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