Short answer
IRADIMED CORP (IRMD) filed its fiscal 2025 10-K annual report with the SEC on Mar 6, 2026. It reported revenue of $84M (+14.4% year over year) and net income of $22M.
- Top risk flagged: FDA regulatory risk: potential refusal or revocation of 510(k) clearances affecting MRidium infusion pumps and 3880 patient monitors
FY2025 key financial metrics · XBRL
- Revenue
- $84M
- +14.4% YoY
- Net income
- $22M
- +16.9% YoY
- Operating margin
- 31.2%
- +1.2 pp YoY
- Gross margin
- 76.7%
- −0.2 pp YoY
- EPS (diluted)
- $1.75
- +16.7% YoY
- ROE
- 23.8%
- +1.6 pp YoY
- Operating cash flow
- $25M
- −2.6% YoY
Source: XBRL data from the IRADIMED CORP (IRMD) FY2025 10-K on SEC EDGAR. USD.
IRADIMED CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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