IRadimed (IRMD) investor relations material

Executive summary

• Q2 2026 revenue was $20.5 million, up 0.5% year-over-year, with GAAP EPS of $0.41 and net income of $5.2 million, down from $5.8 million in Q2 2025.

• Successfully launched and ramped production of the 3870 MRI IV pump, with strong demand for quad stack configurations and bookings more than double shipments.

• Record domestic sales of patient monitors and strong backlog for both pumps and monitors.

• International sales grew 69% while U.S. sales declined 8% for the quarter; domestic sales accounted for 82% of revenue.

• Board declared a $0.20 per share quarterly dividend, payable August 28, 2026.

Financial highlights

• Gross margin was 74%, down from 78% last year due to higher startup costs and production inefficiencies for the 3870 ramp.

• Non-GAAP net income was $5.9 million ($0.46 per share), down from $6.4 million ($0.49) year-over-year.

• Cash and equivalents rose to $59.1 million; operating cash flow for the quarter was $5.9 million, and six-month cash flow was $14.2 million.

• Operating margin was 31% of revenue; effective tax rate was 24.2% for the quarter.

• Working capital at June 30, 2026 was $77.6 million; total assets were $115.0 million, with stockholders' equity at $101.7 million.

Outlook and guidance

• Q3 2026 revenue expected at $23–$24.5 million; GAAP EPS $0.49–$0.54; non-GAAP EPS $0.54–$0.59.

• Full-year 2026 guidance reaffirmed: revenue $91–$96 million, GAAP EPS $1.90–$2.05, non-GAAP EPS $2.09–$2.24.

• Gross margin expected to improve in H2 2026 as manufacturing efficiencies return.

• Operating expenses projected to rise due to increased sales, marketing, and regulatory costs.

• Management believes current liquidity is sufficient for at least the next 12 months.