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Imricor Medical Systems (IMR) investor relations material

Imricor Medical Systems H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary25 Aug, 2025

Executive summary

  • Achieved major regulatory milestones, including CE Mark approval for second-generation ablation and diagnostic catheters and NorthStar 3D mapping system, and submitted the second PMA module to the US FDA, with US FDA approval for NorthStar expected by year-end.

  • European sales team was rebuilt and expanded, growing the hospital pipeline from 7 to 26 sites, and a new entity was established in the Netherlands to accelerate commercialization.

  • Revenue for the half year was $197,000, down 52% year-over-year, mainly due to lower equipment sales and clinical trial recruitment; consumable sales remained flat.

  • Net loss for the period was $13.1 million, up 92% year-over-year, primarily due to fair value changes in convertible notes and warrants; adjusted net loss was $9.99 million, up 27%.

  • Strong cash position of $50.3 million at period end, bolstered by a $42.8–$44.1 million equity raise in March 2025.

Financial highlights

  • Total revenue for the half year was $197,000, down 52% year-over-year, mainly due to lower equipment and capital sales.

  • Consumable device sales were flat at $135,000 year-over-year; product mix shifted toward consumables over equipment.

  • Operating cash outflow for the half year was $9.1 million, up due to increased investment in commercial, regulatory, and R&D activities.

  • Net loss for the period was $13.1 million, up 92% year-over-year, primarily due to fair value changes in convertible notes and warrants; adjusted net loss was $9.99–$10.0 million, up 26–27%.

  • Cash and cash equivalents at period end were $50.3 million, up from $15.7 million at December 2024, following a major equity raise.

Outlook and guidance

  • Anticipates FDA approval for NorthStar and US commercial launch by year-end, with additional device approvals expected through Q4 and early Q1 next year.

  • European and Middle Eastern commercial pipelines are maturing, with new site activations expected through 2026.

  • Ongoing clinical trials in Europe and the US are expected to accelerate adoption and support further regulatory submissions.

  • Management concluded that existing working capital is sufficient to fund operations for at least 12 months from the reporting date.

  • Market for electrophysiology/catheter ablation devices is forecast to grow at a 15% CAGR, driven by demographic trends and technological advances.

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Q3 202526 Oct, 2025
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Frequently asked questions

Imricor Medical Systems Inc. specializes in the development of innovative MRI-compatible medical devices for MRI-guided cardiac catheter ablation procedures. Their products aim to enhance the success rates and reduce the overall costs of these procedures. Key products from Imricor include the Vision-MR Ablation Catheter and the Advantage-MR EP Recorder/Stimulator, both designed for use under real-time MRI guidance to offer a safer, faster, and more effective treatment compared to traditional x-ray guided catheter ablation methods. Imricor Medical Systems Inc. is headquartered in Burnsville, Minnesota, and its shares are listed on the ASX.

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