IRADIMED CORP (IRMD) FY2025 10-K Annual Report
IRADIMED CORP (IRMD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 6, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
IRADIMED CORP FY2025 10-K Analysis
Business Overview
- • Core business: Development and sale of MRI compatible medical devices, notably IV infusion pumps and patient vital signs monitors for safe MRI environment use
- • New product emphasis: MRidium 3870 MRI Compatible IV Infusion Pump System launched in 2025 with Remote Display Unit for control from MRI control room
- • Strategic shift: Discontinuation of older 3860+ infusion pump in 2026, focusing on new 3870 system; expanded intra-hospital use targeting ICU, ER, and critical care units
- • Quantitative metric: 29 U.S. direct sales reps as of Dec 31, 2025; approximately 13,098 pump system channels and 3,397 vital signs monitors sold cumulatively
- • Noteworthy fact: 2025 first commercial shipment of MRidium 3870; only known non-magnetic MRI compatible IV infusion pump operating up to 15,000 gauss magnetic field
Management Discussion & Analysis
- • Revenue $83.8M in 2025, up 14.4% YoY from $73.2M in 2024, driven by U.S. sales +$10.0M (16.4%) and international sales +$0.6M (4.8%)
- • Operating margin 31.2% in 2025 vs 30.0% in 2024; gross profit margin stable at 77% both years
- • Best segment: MRI Compatible IV Infusion Pump Systems revenue $31.6M (+18.9%), worst: Services and other $3.9M (-4.1%)
- • Cash from operations $24.9M in 2025 vs $25.6M in 2024; capex $8.4M primarily for new facility; financing outflows $17.6M, increased dividend payments and stock unit settlements
- • Management confident liquidity sufficient for 12+ months; plans to monitor capital needs, potential financing, and invest in R&D, marketing, and possible acquisitions
Risk Factors
- • FDA regulatory risk: potential refusal or revocation of 510(k) clearances affecting MRidium infusion pumps and 3880 patient monitors
- • Geopolitical risk: supply chain disruption from tariffs, trade restrictions, and political instability impacting sourcing of proprietary raw materials
- • Operational risk: single manufacturing facility in Orlando, Florida vulnerable to hurricanes or natural disasters disrupting production and shipments
- • Competitive risk: mature market for 3880 patient monitoring system with competitors offering lower prices threatening revenue and margins
- • Key-person risk: heavy dependence on founder and CEO Roger Susi with no guaranteed succession plan in place
IRADIMED CORP FY2025 Key Financial MetricsXBRL
Revenue
$84M
▲ +14.4% YoY
Net Income
$22M
▲ +16.9% YoY
Gross Margin
76.7%
▼ -19bp YoY
Operating Margin
31.2%
▲ +121bp YoY
Net Margin
26.8%
▲ +56bp YoY
ROE
23.8%
▲ +160bp YoY
Total Assets
$109M
▲ +10.6% YoY
EPS (Diluted)
$1.75
▲ +16.7% YoY
Operating Cash Flow
$25M
▼ -2.6% YoY
Source: XBRL data from IRADIMED CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on IRADIMED CORP
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.