Q2 2026 IRadimed Corp Earnings Call Transcript
Key Points
- iRadimed Corp (IRMD) successfully achieved its manufacturing target for the new 3,870 MRI IV pump system, ramping production from zero to over 130 units in Q2 2026.
- Bookings for the new 3,870 pump were more than double the units shipped, indicating strong customer acceptance and demand.
- 70% of replacement orders for the older 3,860 systems were for the higher-priced four-channel quad pump system, boosting average selling prices (ASP) by over 20%.
- The company saw record domestic sales of 71 MRI-compatible patient monitors in Q2, maintaining a high ASP.
- Recurring revenue streams showed strong growth, with disposables revenue up 14% and extended maintenance agreement amortization up 28% year-over-year.
- iRadimed Corp (IRMD) ended Q2 with a strong cash position of $59.1 million and generated $14.2 million in operating cash flow for the first half of 2026, an 18% increase year-over-year.
- Gross margin declined to 74% in Q2 2026 from 78% in the prior year quarter, due to higher manufacturing costs and inefficiencies from the initial production ramp of the new 3,870 pump.
- Total revenue growth was nearly flat, increasing only 0.5% year-over-year to $20.5 million, as the company transitioned from the older 3,860 pump to the new 3,870 model.
- GAAP net income decreased to $5.2 million ($0.41 per diluted share) in Q2 2026, down from $5.8 million ($0.45 per diluted share) in Q2 2025.
- The effective tax rate increased to 24.2% in Q2 2026 from 21.2% in the prior year quarter, and the company no longer expects a large windfall deduction, leading to a higher expected tax rate for the remainder of the year.
- The company is still in a controlled production ramp phase, with Q3 production planned to more than double to over 300 units, which will continue to incur startup costs and inefficiencies, though at a reduced level compared to Q2.
Hello and welcome to the Already Made Corporation's second quarter of 2026 Financial Results Conference Call.
( Operators Instructions )
This call is being recorded today, July 31, 2026, and contains time-sensitive, accurate information that is valid only for today.
Earlier AlreadyMed released its financial results for the second quarter of 2026.
A copy of this press release announcing the company's earnings is available under the headings News on their website at AlreadyMed.com.
A copy of the press release was also furnished to the Securities and Exchange Commission on Form 8-K and can be found at sec.gov.
This call is being broadcast live on the company's website at arreadymad.com, and a replay will be available there for the next 90 days.
Some of the information in today's section will constitute forward-looking statements within the meaning of the Private Security Litigation Reform Act of 1,995.
Forward-looking statements focus on future performance, results, plans, and events, and may include the company's expected future
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