Iradimed Corp (IRMD)
NASDAQ:IRMD
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Iradimed
(NASDAQ:IRMD)
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Rating:76Outperform
Price Target:
$99.00
▲(29.55% Upside)
Action:ReiteratedDate:05/04/26
The score is driven primarily by very strong financial quality (high margins, strong ROE, minimal debt) and a constructive earnings-call outlook with reaffirmed guidance and strong early 3870 demand. These positives are tempered by weak technical momentum and a rich valuation (high P/E) that raises the bar for flawless execution on the manufacturing and product-transition ramp.
Positive Factors
High gross margins
Sustained gross margins near the mid-70s% imply durable pricing power and product differentiation in MRI-safe devices. High product-level margins provide a structural buffer against input cost inflation, fund R&D and sales efforts, and underpin persistent operating leverage as revenue scales, supporting long-term profitability.
Negative Factors
US revenue concentration
Heavy reliance on the U.S. market leaves growth and cash generation exposed to U.S. hospital purchasing cycles, reimbursement shifts, or budget constraints. Limited near-term international diversification amplifies cyclical sensitivity and makes multi-quarter revenue targets dependent on a single geography's capital spending patterns.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins near the mid-70s% imply durable pricing power and product differentiation in MRI-safe devices. High product-level margins provide a structural buffer against input cost inflation, fund R&D and sales efforts, and underpin persistent operating leverage as revenue scales, supporting long-term profitability.
Read all positive factors
Iradimed (IRMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.09B
Dividend Yield1.22%
Average Volume (3M)86.64K
Price to Earnings (P/E)52.9
Beta (1Y)0.64
Revenue Growth14.81%
EPS Growth18.80%
CountryUS
Employees160
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)1.86
Shares Outstanding12,783,035
10 Day Avg. Volume107,754
30 Day Avg. Volume86,645
Financial Highlights & Ratios
PEG Ratio3.35
Price to Book (P/B)13.08
Price to Sales (P/S)14.77
P/FCF Ratio72.03
Enterprise Value/Market Cap0.96
Enterprise Value/Revenue12.07
Enterprise Value/Gross Profit15.70
Enterprise Value/Ebitda34.08
Forecast
1Y Price Target
$118.67Price Target Upside55.28% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.02
Revenue Forecast (FY)$92.28M
Iradimed Business Overview & Revenue Model
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 intr...
How the Company Makes Money
IRadimed primarily makes money by selling MRI-compatible medical devices to healthcare providers, with revenue typically comprising (1) capital equipment sales of its MRI-safe patient monitoring systems and MRI-compatible IV infusion pump systems ...
Iradimed Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales by region (U.S., Europe, Asia, etc.), showing where Iradimed is strongest and where it has room to expand. High concentration in one market can mean exposure to local reimbursement and regulatory changes, while international growth points to new market opportunity but brings currency and distribution risks. Use this to judge diversification and growth potential.
Breaks down sales by region (U.S., Europe, Asia, etc.), showing where Iradimed is strongest and where it has room to expand. High concentration in one market can mean exposure to local reimbursement and regulatory changes, while international growth points to new market opportunity but brings currency and distribution risks. Use this to judge diversification and growth potential.
Data provided by:
The Fly
The FlyIradimed Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presents a largely positive outlook driven by strong Q1 financial results (13% revenue growth, 33% operating income growth, double-digit net income improvement), healthy margins, substantial cash generation, and an encouraging early 3870 product launch with higher-than-expected ASP and quad-system demand. Near-term headwinds are primarily transitional and execution-related: a planned conservative manufacturing ramp (130–135 3870s in Q2) leads to guidance showing a modest Q2 revenue dip versus Q1, and there are temporary tax and R&D expense effects. These lowlights appear manageable relative to the magnitude of the reported financial improvements and the sizeable replacement opportunity for the 3870, so positive momentum is the dominant theme.Positive Updates
Revenue Growth
Q1 2026 revenue of $22.0M, up 13% year-over-year versus $19.5M in Q1 2025.
Negative Updates
Near-Term Revenue Transition Pressure (Q2)
Q2 2026 guidance of $20–21M (below Q1 2026 $22.0M) reflects transition: declining revenues from older 3860 systems offsetting early 3870 shipments, so Q2 will not fully reflect strong early order activity.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Q1 2026 revenue of $22.0M, up 13% year-over-year versus $19.5M in Q1 2025.
Read all positive updates
Company Guidance
IRadimed gave Q2 guidance of $20.0–21.0M in revenue, GAAP diluted EPS of $0.40–0.44 and non‑GAAP diluted EPS of $0.44–0.48, and reaffirmed full‑year 2026 guidance of $91–96M in revenue, GAAP diluted EPS of $1.90–2.05 and non‑GAAP diluted EPS of $2.06–2.21; they expect stock‑based compensation (net of tax) of ~ $600k in Q2 and ~$2.4M for the year, targeted shipping of 130–135 new 3870 systems in Q2, and a domestic 3870 pump target north of 2,000 channels annually (approaching a ~$50M pump run‑rate) with the company confident in a $100M+ revenue run‑rate when disposables, maintenance, international sales, monitoring and FDS are included. Additional metrics noted: a U.S. replacement opportunity of ~6,400 5+‑year‑old 3860 channels (historical replacement sales ~1,100 channels/year, targeting +1,000 incremental channels/year), Q1 cash of $56.4M, Q1 cash flow from operations of $8.3M, non‑GAAP free cash flow of $7.8M after ~$500k capex, a ~25% effective tax rate this quarter (expected to trend down), and a quarterly dividend of $0.20/share payable May 29, 2026.Iradimed Financial Statement Overview
Summary
Income Statement
91
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 86.28M | 83.81M | 73.24M | 65.56M | 53.30M | 41.81M |
| Gross Profit | 66.30M | 64.32M | 56.35M | 50.16M | 41.28M | 32.05M |
| EBITDA | 30.55M | 28.53M | 22.78M | 20.80M | 16.30M | 11.22M |
| Net Income | 23.61M | 22.48M | 19.23M | 17.19M | 12.83M | 9.33M |
Balance Sheet | ||||||
| Total Assets | 114.39M | 108.78M | 98.33M | 92.16M | 85.51M | 82.88M |
| Cash, Cash Equivalents and Short-Term Investments | 56.37M | 51.16M | 52.23M | 49.76M | 57.96M | 62.50M |
| Total Debt | 0.00 | 0.00 | 154.69K | 2.04M | 2.21M | 2.48M |
| Total Liabilities | 15.88M | 14.16M | 11.51M | 20.74M | 11.84M | 10.71M |
| Stockholders Equity | 98.51M | 94.62M | 86.82M | 71.42M | 73.67M | 72.17M |
Cash Flow | ||||||
| Free Cash Flow | 24.10M | 17.18M | 17.62M | 5.46M | 8.17M | 10.52M |
| Operating Cash Flow | 28.94M | 24.95M | 25.62M | 13.47M | 10.04M | 11.26M |
| Investing Cash Flow | -4.97M | -8.42M | -8.82M | -8.01M | -1.37M | 648.24K |
| Financing Cash Flow | -17.93M | -17.60M | -14.34M | -13.66M | -12.71M | 24.43K |
Iradimed Technical Analysis
Negative
76.42
Price Trends
98.86
Negative
97.84
Negative
84.20
Positive
Market Momentum
-1.80
Positive
42.38
Neutral
27.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IRMD, the sentiment is Negative. The current price of 76.42 is below the 20-day moving average (MA) of 96.14, below the 50-day MA of 98.86, and below the 200-day MA of 84.20, indicating a neutral trend. The MACD of -1.80 indicates Positive momentum. The RSI at 42.38 is Neutral, neither overbought nor oversold. The STOCH value of 27.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IRMD.
Iradimed Risk Analysis
Iradimed disclosed 36 risk factors in its most recent earnings report. Iradimed reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Iradimed Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.09B | 52.87 | 23.83% | 1.22% | 14.81% | 18.80% | |
65 Neutral | $848.43M | 8.40 | 13.79% | ― | -0.91% | ― | |
64 Neutral | $2.27B | -21.82 | -13.44% | ― | 22.41% | -292.36% | |
56 Neutral | $590.65M | -130.15 | -11.00% | ― | 20.19% | 40.88% | |
52 Neutral | $828.85M | -139.86 | -39.90% | ― | 1.53% | -7341.66% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $482.13M | -68.23 | -20.38% | ― | 2.85% | 29.06% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.