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Iradimed
(NASDAQ:IRMD)
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Rating:72Outperform
Price Target:
$102.00
▲(7.95% Upside)
Action:Reiterated
Date:08/04/26
IRMD scores well on fundamentals due to exceptional margins, strong returns, and a debt-free balance sheet, reinforced by a constructive earnings outlook and reaffirmed guidance tied to the 3870 ramp and strong bookings. The overall score is held back by weak technical momentum (below key moving averages with negative MACD) and a premium valuation (P/E ~50) that increases sensitivity to any growth or ramp execution stumbles.
Positive Factors
High gross and net margins
IRADIMED’s consistently very high gross (≈76%) and net (~27%) margins reflect a differentiated, high-ASP product portfolio and strong pricing power in MRI-compatible devices. Durable margins support internal funding of R&D, dividends and growth initiatives, insulating profitability through normal capital-cycle variability.
Negative Factors
Ramp-related margin compression
Initial 3870 production inefficiencies materially compressed margins in Q2. If scale-up or learning-curve gains are slower than planned, elevated manufacturing overhead and start-up labor can persist, eroding the company’s strong margin profile and reducing free cash flow until efficiencies are realized.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross and net margins
IRADIMED’s consistently very high gross (≈76%) and net (~27%) margins reflect a differentiated, high-ASP product portfolio and strong pricing power in MRI-compatible devices. Durable margins support internal funding of R&D, dividends and growth initiatives, insulating profitability through normal capital-cycle variability.
Read all positive factors
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.
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The Fly
The FlyIradimed (IRMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.16B
Dividend Yield1.36%
Average Volume (3M)128.61K
Price to Earnings (P/E)50.2
Beta (1Y)0.64
Revenue Growth11.21%
EPS Growth11.08%
CountryUS
Employees166
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)1.82
Shares Outstanding12,783,035
10 Day Avg. Volume112,129
30 Day Avg. Volume128,611
Financial Highlights & Ratios
PEG Ratio3.34
Price to Book (P/B)13.08
Price to Sales (P/S)14.77
P/FCF Ratio72.03
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$120.00Price Target Upside27.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.08
Revenue Forecast (FY)$91.20M
Iradimed Business Overview & Revenue Model
Company Description
IRADIMED CORPORATION specializes in the engineering, production, and distribution of medical devices specifically designed for compatibility with magnetic resonance imaging (MRI) environments. The company supplies these specialized products, along...
How the Company Makes Money
IRADIMED makes money primarily by selling MRI-compatible medical devices and related recurring consumables and services. (1) Capital equipment sales: A significant portion of revenue comes from sales of its MRI-compatible patient monitoring system...
Iradimed Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive outlook driven by a successful product launch (3870 pump), strong bookings (bookings >2x units shipped), higher ASPs from quad replacements, record monitor orders, and improving recurring revenue and cash flows. Near-term challenges include margin compression and higher costs from the initial production ramp, a modest decline in quarterly net income and gross margin, and an elevated effective tax rate. Management provided clear plans and guidance to double down on ramp execution, expects significant cost reductions in Q3 and near-historic efficiencies by Q4, and reaffirmed full-year guidance — resulting in confidence that the positive drivers outweigh the near-term operational headwinds.Positive Updates
Successful 3870 Pump Launch and Production Ramp
Built 130–135 new 3870 MR IV pumps from a standing start in Q2 (met manufacturing target); bookings were more than double units shipped, indicating strong customer acceptance and a growing backlog. Management plans to ramp to over 300 units in Q3 and expects start-up costs to be >50% lower in Q3 vs Q2 as manufacturing learning-curve efficiencies improve.
Negative Updates
Gross Margin Compression from Ramp Costs
Gross margin declined to 74% in Q2 from 78% in Q2 2025 (Q2 gross profit $15.2M vs $16.0M prior year), reflecting higher manufacturing costs and inefficiencies tied to the sizable initial 3870 production ramp.
Read all updates
Q2-2026 Updates
Positive
Negative
Successful 3870 Pump Launch and Production Ramp
Built 130–135 new 3870 MR IV pumps from a standing start in Q2 (met manufacturing target); bookings were more than double units shipped, indicating strong customer acceptance and a growing backlog. Management plans to ramp to over 300 units in Q3 and expects start-up costs to be >50% lower in Q3 vs Q2 as manufacturing learning-curve efficiencies improve.
Read all positive updates
Company Guidance
IRadimed reiterated Q3 guidance of $23.0–$24.5M revenue, GAAP diluted EPS $0.49–$0.54 and non‑GAAP diluted EPS $0.54–$0.59, and reaffirmed full‑year 2026 guidance of $91–$96M revenue, GAAP diluted EPS $1.90–$2.05 and non‑GAAP diluted EPS $2.09–$2.24 (non‑GAAP excludes roughly $2.5M of stock‑based compensation net of tax). Management expects Q2 start‑up costs to be reduced by better than 50% in Q3 as 3870 production ramps from ~130–135 units in Q2 to over 300 units in Q3 and approaches historic efficiencies by Q4 (management noted a $100M run rate in Q4 is within reach); bookings in Q2 were more than double units shipped, ~70% of replacements are 4‑channel quads (ASP north of $110,000, >20% ASP lift per pump). They also forecast gross margin improvement in H2 after Q2’s 74% margin (6‑month margin 75% vs prior year 78%/77%), expect an effective tax rate around 24% for the remainder of the year, and highlighted cash of $59.1M, Q2 operating cash flow $5.9M ($14.2M YTD), non‑GAAP free cash flow $5.5M Q2 ($13.3M YTD), and a $0.20 quarterly dividend payable August 28.Iradimed Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
96
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 86.34M | 83.81M | 73.24M | 65.56M | 53.30M | 41.81M |
| Gross Profit | 65.50M | 64.32M | 56.35M | 50.16M | 41.28M | 32.05M |
| EBITDA | 31.11M | 30.74M | 25.09M | 22.50M | 16.85M | 11.24M |
| Net Income | 23.05M | 22.48M | 19.23M | 17.19M | 12.83M | 9.33M |
Balance Sheet | ||||||
| Total Assets | 114.97M | 108.78M | 98.33M | 92.16M | 85.51M | 82.88M |
| Cash, Cash Equivalents and Short-Term Investments | 59.08M | 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 | 13.23M | 14.16M | 11.51M | 20.74M | 11.84M | 10.71M |
| Stockholders Equity | 101.75M | 94.62M | 86.82M | 71.42M | 73.67M | 72.17M |
Cash Flow | ||||||
| Free Cash Flow | 24.93M | 17.18M | 17.62M | 5.46M | 8.17M | 10.52M |
| Operating Cash Flow | 27.14M | 24.95M | 25.62M | 13.47M | 10.04M | 11.26M |
| Investing Cash Flow | -2.59M | -8.42M | -8.82M | -8.01M | -1.37M | 648.24K |
| Financing Cash Flow | -18.46M | -17.60M | -14.34M | -13.66M | -12.71M | 24.43K |
Iradimed Technical Analysis
Negative
94.49
Price Trends
94.37
Negative
93.29
Negative
93.33
Negative
Market Momentum
-0.56
Positive
46.55
Neutral
28.43
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 94.49 is below the 20-day moving average (MA) of 94.93, above the 50-day MA of 94.37, and above the 200-day MA of 93.33, indicating a bearish trend. The MACD of -0.56 indicates Positive momentum. The RSI at 46.55 is Neutral, neither overbought nor oversold. The STOCH value of 28.43 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.10B | 31.11 | 16.27% | ― | 1.52% | ― | |
72 Outperform | $1.16B | 50.20 | 23.45% | 1.30% | 11.21% | 11.08% | |
63 Neutral | $787.64M | -45.78 | -8.23% | ― | 16.77% | 39.26% | |
56 Neutral | $2.27B | -62.55 | -17.88% | ― | 23.57% | -543.50% | |
55 Neutral | $476.98M | -7.84 | -13.44% | ― | 2.59% | 59.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.29B | -180.59 | -0.69% | ― | 1.60% | 98.56% |
* Healthcare Sector Average
IRMD
Iradimed
93.13
24.52
35.73%
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Iradimed Corporate Events
Executive/Board ChangesShareholder Meetings
Iradimed shareholders back board, auditor and pay policies
Positive
Jun 24, 2026
At Iradimed Corporation’s Annual Meeting of Stockholders held on June 23, 2026, shareholders elected directors Roger Susi, Monty Allen, Joe Kiani, Hilda Scharen-Guivel and James Hawkins to the board, reinforcing continuity in the companyR...
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.