iRadimed Q1 Revenue Jumps 13% to $22M; 3,870 Pump ASPs Rise 20%
iRadimed Corp reported Q1 revenue growth of 13% to $22 million and net income rising 22% to $5.8 million. Initial orders for the new 3,870 MR IV pump system show a 20% ASP increase, but Q2 guidance is set at $20–21 million due to production constraints.
1. Strong Q1 Financial Performance
iRadimed achieved 13% revenue growth to $22 million, operating income rose 33% to $7.2 million, and net income increased 22% to $5.8 million, reflecting disciplined expense management and a modified commission structure.
2. New Pump Driving Higher ASPs
Initial orders for the 3,870 MR IV pump system delivered a 20% lift in average selling price to over $100,000 per quad system, as customers shift to the more compact four-channel design.
3. Q2 Guidance and Production Constraints
Management set Q2 revenue guidance at $20–21 million, noting that manufacturing ramp constraints will delay full reflection of robust order activity for the new pump system.
4. Long-Term Outlook
The company is targeting a $50 million annual pump revenue run rate, with goals of exceeding a $100 million run rate later in 2026, while navigating a higher effective tax rate of 25% driven by equity grant timing.