Iradimed posts record Q3, guidance narrowed, trimming top end due to manufacturing constraints
Iradimed posts record Q3 2026, beating estimates with non-GAAP EPS $0.55 and revenue $24.2M on 3870 pump ramp
- Q3 revenue hit a record $24.2M, up 14% YoY and 18% sequentially.
- GAAP EPS rose to $0.51 (non-GAAP $0.55), driven by operating leverage and mix.
- 3870 MR IV pump ramped strongly; Q3 production grew 125% vs Q2, with solid backlog.
- Pump revenue grew 4% YoY to $8.7M as 3870 units offset legacy pump maturity.
- Monitor systems remained a key growth engine, with $8M revenue up 17% YoY and record bookings.
- Disposables grew 21% to $5M, with minimal contribution yet from new 3870 installed base.
- Gross margin reached 76%, up sequentially, and management expects a return to 77–78%+ in 2027.
- Q4 guidance implies >$100M annualized revenue run rate and roughly $50M annualized pump revenue.
- Full-year 2026 guidance narrowed, trimming the top end due to 3870 manufacturing constraints, not demand.
- Management signals confidence in 2027 upper-teens revenue growth as 3870 scale and disposables pull-through build.
- Main concern: Executing the 3870 production ramp without quality issues, which is already constraining near-term revenue.
- Strong quarter, driven by accelerated 3870 pump adoption and continued strength in MRI monitors and disposables.
- Iradimed declared a regular quarterly cash dividend of $0.20 per share.
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