Iradimed beats Q1 2026 estimates as 3870 pump outperforms, reaffirms 2026 guidance

 

Iradimed beats Q1 2026 estimates as 3870 pump outperforms, reaffirms 2026 guidance

• Q1 2026 non-GAAP EPS $0.49 (+17% YoY) and revenue $22.0M (+13% YoY) both beat analyst estimates.
• Q1 revenue $22m up 13% YoY; EPS $0.45 up 22%, strong profitability.
• Pump revenue up 28% YoY, monitor revenue up 9%, disposables flat, ferromagnetic detection revenue $0.6m.
• 3870 pump ASP running ~20% above legacy model versus 10–14% initial expectations.
• Majority of early 3870 orders are quad systems, effectively doubling pump channels per site.
• Q2 revenue guided to $20–21m, below Q1 due to controlled 3870 production ramp.
• Full-year 2026 guidance reaffirmed: revenue $91–96m, GAAP EPS $1.90–2.05, non-GAAP $2.06–2.21.
• Gross margin improved to 77% from 76%; operating income up 33% to $7.2m.
• Strong balance sheet with $56.4m cash and $7.6m free cash flow; continuing $0.20 quarterly dividend.
• Board declares cash dividend of $0.20 per share following Q1 2026 results.
• Management highly confident in large multi-year 3870 replacement opportunity driving higher pump channel volumes.
• Key risk is execution on manufacturing and supply-chain ramp to meet strong 3870 demand.
• Main concern: execution risk in ramping 3870 production while legacy pump revenue declines during the transition.
• Strong quarter, driven by robust pump growth and better-than-expected 3870 pricing and mix.

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