Imricor Medical Systems (IMR) Q3 2026 earnings summary

Executive summary

• U.S. commercial launch began with Rady Children’s Hospital-San Diego; Children’s Medical Center Dallas purchased NorthStar two weeks later, with installation after quarter-end.

• The platform combines MR-compatible equipment, guidance software and single-use catheters for real-time MR-guided cardiac procedures.

• Philips compatibility, a joint turnkey iMR lab solution and DLL financing broaden hospital access.

Financial highlights

• Q3 revenue was US$188k versus US$35k in Q3 CY2025, up 437%, driven by the initial U.S. NorthStar sale and installation at Rady Children’s.

• Net loss was US$2.91m versus US$3.49m, down 17%; underlying net loss was US$7.65m, reflecting exclusion of non-cash fair-value adjustments.

• Cash and cash equivalents were US$62.1m at September 30; operating cash outflow was US$7.33m for the quarter.

• Inventory rose to US$2.6m from US$1.5m at year-end, reflecting stock secured ahead of the U.S. launch.

Outlook and guidance

• CY2026 priorities include converting the U.S. hospital pipeline into NorthStar sales and scaling the U.S. commercial organisation; Dallas revenue is expected in Q4.

• Initial NorthStar sales revenue is expected to exceed total European business revenue from CY2025.

• Additional capital equipment clearances, including the Advantage-MR EP Recorder / Stimulator, are expected to broaden the U.S. offering.

• Priorities include completing the VISABL-AFL trial, submitting the final PMA module and preparing for the FDA manufacturing pre-approval inspection.