Highlights

  • Second quarter 2026 revenue was $20,466 thousand, compared with $20,409 thousand, up 0.5%; gross profit margin was 74%, compared with 78%.
  • Net income was $5.2 million, or $0.41 per diluted share, compared with $5.8 million, or $0.45, in the second quarter of 2025.
  • International revenue rose 69% to $3.7 million, while U.S. revenue decreased 8% to $16.7 million in the second quarter.
  • Management reaffirmed full-year 2026 revenue guidance of $91 million to $96 million and declared a quarterly dividend of $0.20 per share.

iRadimed Corporation (NASDAQ: IRMD) shares were trading at USD 84.08 on October 27, 2026, down 0.66%, with a relative volume at time of 2.05. The MRI compatible device maker began general release production of its MRidium 3870 IV infusion pump system in the second quarter and filed its quarterly report for the period ended June 30, 2026 on July 31, 2026.

iRadimed is incorporated in Delaware and lists its principal executive offices in Orlando, Florida. It develops, manufactures, markets, sells and distributes MRI compatible medical devices and related accessories, disposables and services. Its products include MRidium MRI compatible IV infusion pump systems, the IRadimed 3880 MRI compatible patient vital signs monitoring system and Ferro Magnetic Detection Systems. Customers include hospitals and acute care facilities in the U.S. and internationally. As of June 30, 2026, its direct U.S. sales force had 29 field sales representatives, 4 regional sales directors and 11 clinical application specialists.

Second Quarter Results

Revenue for the quarter ended June 30, 2026 was $20,466 thousand, compared with $20,409 thousand. Devices revenue was $13,849 thousand, compared with $14,614 thousand, including $6,428 thousand from MRI compatible IV infusion pump systems, compared with $8,188 thousand, and $6,665 thousand from patient vital signs monitoring systems, compared with $5,944 thousand. Disposables revenue was $4,793 thousand, compared with $4,204 thousand.

Cost of revenue was $5,306 thousand, compared with $4,454 thousand, and gross profit was $15,160 thousand, compared with $15,955 thousand. The company attributed the lower gross margin to initial production inefficiencies on new product manufacturing. General and administrative expense was $3,866 thousand, sales and marketing expense was $4,246 thousand, and research and development expense was $657 thousand.

Income before the provision for income taxes was $6.9 million, compared with $7.3 million. The provision for income tax expense was $1,670 thousand, for an effective tax rate of 24.2%, compared with 21.2% a year earlier. For the six months, revenue was $42,444 thousand, compared with $39,920 thousand.

Balance Sheet and Cash Flow

At June 30, 2026, cash and cash equivalents were $59.1 million, stockholders' equity was $101.7 million and working capital was $77.6 million, compared with $51.2 million, $94.6 million and $71.0 million at December 31, 2025. Net cash provided by operating activities for the six months was $14,230 thousand, compared with $12,039 thousand. Net cash used in financing activities was $5,397 thousand, which the company attributed primarily to a per share increase in its quarterly cash dividend. The company stated it does not anticipate requiring additional capital.

Trends and Risks

The filing states that in February 2026 the Supreme Court ruled that certain tariffs were not lawfully imposed. The company has incurred tariff costs on certain imported materials and components, is evaluating its eligibility to pursue refunds, and cannot reasonably estimate the amount or timing of any refunds. It said it has not experienced a material adverse impact from Middle East conflicts.

Outlook

The filing states that for fiscal year 2026 the company expects higher revenue and higher operating expenses compared with fiscal year 2025. On its earnings call, management gave third quarter 2026 revenue guidance of $23 million to $24.5 million and non-GAAP earnings per share guidance of $0.54 to $0.59. It reaffirmed full-year 2026 revenue guidance of $91 million to $96 million and non-GAAP earnings per share guidance of $2.09 to $2.24. Management said it plans to more than double 3870 pump production to over 300 units in the third quarter, and that it expects the effective tax rate to remain in the 24% range for the rest of the year.