Imricor Medical Systems (IMR) Q2 2025 TU earnings summary

Executive summary

• Achieved first-in-human ventricular ablation guided by real-time iCMR at Amsterdam UMC and commenced VISABL-VT clinical trial.

• CE mark approvals received for Advantage-MR system and NorthStar 3D mapping system under new MDR.

• European sales team expanded, pipeline nearly doubled from 14 to 27 sites compared to Q1.

• Semmelweis University in Hungary performed its first real-time iCMR ablation.

• Preparing for commercial launch of 2nd generation devices and NorthStar across Europe.

Financial highlights

• Cash receipts for Q2 were $85k, temporarily impacted by non-revenue-generating clinical trial enrollments.

• Net cash outflows from operating activities were US$4.4 million, down 4% versus Q1.

• Payments for operating costs increased to $5.40 million, mainly due to higher clinical trial and regulatory expenses, partially offset by grant funding.

• Cash balance at 30 June 2025 was US$50.3 million, down from US$53.9 million at 31 March 2025.

• 11.4 quarters of funding available based on Q2 cash outflow rate.

Outlook and guidance

• Expecting a steady stream of 510(k) product submissions and approvals through the rest of 2025, supporting US commercial launch.

• Anticipates acceleration of hospital adoption as integrations with the Philips platform are completed.

• Regulatory and quality teams progressing with FDA PMA modules; module 2 under review, module 3 to be submitted early Q4.