Imricor Medical Systems (IMR) Q4 2025 TU earnings summary

Executive summary

• Achieved multiple world-first procedures in real-time MRI-guided cardiac ablation, including ischemic VT and preclinical in vivo PFA ablations.

• Expanded U.S. clinical trial footprint with UVA Health joining the VISABL-AFL trial and additional U.S. hospitals expected to commence procedures in Q1 2026.

• Completed major technology integrations with Philips and advanced GE integration for U.S. market entry.

• Focused on execution and conversion of a pipeline exceeding 40 sites, with new iCMR lab constructions underway in Saudi Arabia.

Financial highlights

• Net cash outflows from operating activities were US$5.2 million in Q4 CY25, up 7% from Q3 CY25; adjusted for a prior grant, up 2% sequentially.

• Receipts from customers totaled US$26,000, temporarily impacted by non-revenue-generating clinical trial enrollments.

• Payments for operating costs were US$5.4 million, down 2% from the previous quarter.

• Cash and short-term investments at 31 December 2025 totaled US$40.8 million (US$19.5 million cash, US$21.3 million in short-term investments).

Outlook and guidance

• Onboarding of U.S. clinical trial sites is expected to allow European sites to resume generating consumable procedure revenue sooner.

• Continued regulatory progress and market expansion in Europe, the Middle East, and new geographies such as Australia and New Zealand are key growth drivers.