Iradimed Revises 2026 Outlook After Record Third Quarter

The Tip Desk · November 10, 2026 · 3 min read

Third-quarter revenue reached a record $24.2 million as the 3870 pump ramp reversed a near-flat second quarter.

Iradimed Corporation (IRMD), a maker of MRI-compatible infusion pumps and vital-signs monitors, reported record third-quarter revenue of $24.2 million, up 14% from a year earlier and 18% from the second quarter, after second-quarter sales of $20.5 million had been essentially unchanged year over year.

The Orlando, Florida, company said the increase was driven by the continued launch of its 3870 MR IV pump. President and Chief Executive Officer Roger Susi said manufacturing experience and a larger production run began to produce the gross-margin improvement the company had anticipated.

GAAP diluted earnings were $0.51 a share, and non-GAAP diluted earnings were $0.55 a share, compared with $0.41 GAAP and $0.46 non-GAAP in the second quarter. Net income was $6.5 million.

Gross profit margin was 76% in the three months ended September 30, 2026. The year-ago quarter’s margin was 78%.

Devices generated $17.2 million. MRI-compatible patient vital signs monitoring systems contributed $8.0 million, up from $6.9 million a year earlier. IV infusion pump systems were $8.7 million. Disposables were $5.0 million, ferro magnetic detection systems $0.5 million, amortization of extended maintenance agreements $0.8 million, and services and other $1.2 million. Domestic sales were 82% of total revenue.

Bookings set new records, the company said, including a record number of monitor units and a 45% year-over-year increase in domestic pump channels booked. More than 70% of pump bookings were for the quad-stack configuration of four pumps on a single IV pole, which the company said doubles the pump channels previously available at each MRI as customers replace older models.

Cash flow from operations was $7.0 million, matching the year-ago quarter. Non-GAAP free cash flow was $6.8 million. Cash and cash equivalents were $63.3 million at September 30.

For the fourth quarter of 2026, the company expects revenue of $25.0 million to $26.5 million, GAAP diluted earnings of $0.53 to $0.57 a share, and non-GAAP diluted earnings of $0.57 to $0.61 a share. That fourth-quarter range sits above the $23.0 million to $24.5 million revenue outlook it had given for the third quarter. Susi said the company expects to attain a $100.0 million revenue run rate in the fourth quarter.

The company revised full-year 2026 guidance to revenue of $91.6 million to $93.1 million, from a prior range of $91.0 million to $96.0 million. GAAP diluted earnings guidance is now $1.90 to $1.94 a share, from $1.90 to $2.05. Non-GAAP diluted earnings guidance is $2.07 to $2.11 a share, compared with $2.09 to $2.24 in the second-quarter outlook.

The board declared a regular quarterly cash dividend of $0.20 a share, payable November 27, 2026.