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what it is
Iradimed sells MRI-safe pumps and monitors that keep IVs and vital signs working inside scanner rooms.
how it gets paid
Last year Iradimed made $84M in revenue. MRidium infusion pumps was the main engine at $38M, or 45% of sales.
why it's growing
Revenue grew 14.4% last year. Revenue rose 188% vs. prior year, and EPS reached $1.25.
what just happened
IRMD posted $61M in quarterly revenue with a 77.4% gross margin.
At a glance
B+ balance sheet — decent shape, but not bulletproof
40/100 earnings predictability — expect surprises
60.7x trailing p/e — you're paying up for this one
0.8% dividend yield — cash in your pocket every quarter
22.2% return on capital — every dollar works hard here
xvary composite: 56/100 — below average
What they do
Iradimed sells MRI-safe pumps and monitors that keep IVs and vital signs working inside scanner rooms.
MRI rooms punish ordinary gear. IRMD sells hardware built for 30,000 gauss, so your pump does not become a paperweight near the magnet. The 77.4% gross margin says hospitals pay for that safety, and the gap versus generic equipment is the whole business.
How they make money
$84M
annual revenue · their business grew +14.4% last year
MRidium infusion pumps
$38M
+14.4%
3880 patient monitors
$23M
+13.0%
Accessories and service
$11M
+12.0%
U.S. direct sales
$7M
+14.4%
International distributors
$5M
+14.4%
The products that matter
MRI-safe infusion pump system
3870 MRidium IV Infusion Pump System
sole FDA-cleared product in its niche
it's the product behind the company's moat, supporting a 76.7% gross margin and anchoring the larger $60M device revenue base.
core
MRI-compatible patient monitoring
MRI-Compatible Patient Monitors
part of $60M device revenue
this sits inside the $60M device segment and helps hospitals buy a broader MRI workflow, not just a single pump.
adjacent
recurring disposables and service
Disposables & Service
$24M · 29% of revenue
this $24M stream matters because recurring revenue is steadier than equipment sales, but it's still not large enough to carry the whole story on its own.
recurring
Key numbers
60.7x
trailing p/e
You are paying 60.7 times trailing earnings for a company with 31.1% operating margin. That is a rich price for a niche, even when the niche is working.
31.1%
op margin
A 31.1% operating margin means 31 cents of every sales dollar stayed after running the business. That is why the market pays up.
22.2%
roc
A 22.2% return on capital means management turns invested money into profit at a healthy clip. That is the difference between a decent small cap and a boring one.
0.8%
dividend yield
You are not buying this for income. At 0.8%, the dividend is a token, not the thesis.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 40 / 100
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for IRMD right now.
source: institutional data · return history unavailable
What just happened
beat estimates
IRMD posted $61M in quarterly revenue with a 77.4% gross margin.
Revenue rose 188% vs. prior year, and EPS reached $1.25. The business is still tiny in absolute dollars, but the margin profile is the part the market pays for.
$61M
revenue
$1.25
eps
77.4%
gross margin
the number that mattered
$61M mattered most because it shows a tiny niche company can still print big quarterly growth while keeping 77.4% gross margin.
source: company earnings report, 2026
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What could go wrong
the top risk is a rival winning MRI-safe infusion pump clearance.
high
regulatory moat erosion
the entire story starts with sole FDA clearance in MRI infusion. if that exclusivity weakens, the current 76.7% gross margin becomes much harder to defend.
this is the one risk that can hit both pricing power and the multiple at the same time.
med
hospital capital spending slowdown
device sales were $60M of total 2025 revenue. that's 71% of the business still tied to customers making equipment purchases, not just reordering consumables.
if hospital budgets tighten, the bigger revenue bucket feels it first.
med
valuation compression
the stock trades at 60.7x trailing earnings while management guides to $91M–$94M in 2026 revenue. that's healthy growth, but not enough room for complacency.
a small miss can matter more here than at a cheaper stock because the premium is doing part of the work.
a competitor clearance or demand slowdown would hit a business where $60M of $84M revenue still comes from device sales, and the stock already trades at 60.7x earnings.
source: institutional data · regulatory filings · risk analysis
Pay attention to
guidance
2026 revenue target
management guided to $91M–$94M. if growth starts slipping under that range, the premium multiple loses its easiest defense.
margin
gross margin staying near 76.7%
that number is the proof of pricing power. if it fades, you should assume the moat is getting less comfortable.
competition
any sign of rival FDA progress
IRMD's best asset is being alone in MRI-safe infusion. you do not need a full launch to hurt sentiment — just evidence the room may get crowded.
mix shift
disposables & service getting bigger
that segment is $24M today, or 29% of revenue. if it grows faster than device sales, the business gets a little less cyclical and a little more durable.
Analyst rankings
earnings predictability
40 / 100
in human-speak: the business is profitable, but quarterly results are not smooth enough to treat like clockwork.
risk rank
3
middle-of-the-pack safety. not fragile, not a bunker stock.
price stability
40 / 100
the stock can move around. that's what happens when a small-cap story carries a premium multiple.
source: institutional data
Institutional activity
institutional ownership data for IRMD is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$100
current price
n/a
target midpoint · n/a from current
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