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IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible intravenous infusion pump systems and MRI compatible patient vital signs monitoring systems and related accessories. The company offers MRidium 3870 and 3860+ MRI Compatible IV Infusion Pump System with associated disposable IV tubing sets; 3880 MRI compatible patient vital signs monitoring system; and 3600 FMD1 with remote alarm logging unit ferromagnetic detection device. It also provides non-magnetic IV poles, wireless remote displays/controls, side car pump modules, dose error reduction systems, and SpO2 monitoring with sensors and accessories. The company serves hospitals, acute care facilities, and outpatient imaging centers. It sells its products through direct field sales representatives, regional sales directors, clinical application specialists, and independent distributors in the United States and internationally. The company was incorporated in 1992 and is headquartered in Orlando, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $84M | $27M | $22M | $17M | 23.8% | 14.4% | 16.9% |
| 2024 | $73M | $23M | $19M | $17M | 22.2% | 11.7% | 11.9% |
| 2023 | $66M | $21M | $17M | $5M | 24.1% | 23.0% | 34.0% |
| 2022 | $53M | $16M | $13M | $8M | 17.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 53.30 | 65.56 | 73.24 | 83.81 |
| Operating Revenue | - | 53.30 | 65.56 | 73.24 | 83.81 |
| Cost Of Revenue | - | 12.02 | 15.40 | 16.89 | 19.49 |
| Gross Profit | - | 41.28 | 50.16 | 56.35 | 64.32 |
| Operating Expense | - | 25.65 | 30.12 | 34.38 | 38.18 |
| Research And Development | - | 2.28 | 2.86 | 2.83 | 2.98 |
| Selling General And Administration | - | 23.38 | 27.26 | 31.55 | 35.20 |
| Total Expenses | - | 37.68 | 45.53 | 51.28 | 57.67 |
| Operating Income | - | 15.63 | 20.04 | 21.96 | 26.15 |
| Total Operating Income As Reported | - | 15.63 | 20.04 | 21.96 | 26.15 |
| EBITDA | - | 16.30 | 20.80 | 22.78 | 27.31 |
| Normalized EBITDA | - | 16.33 | 20.96 | 22.83 | 27.11 |
| EBIT | - | 15.63 | 20.04 | 21.96 | 26.15 |
| Interest Income | - | 0.58 | 1.86 | 2.19 | 2.01 |
| Net Interest Income | - | 0.58 | 1.86 | 2.19 | 2.01 |
| Other Non Operating Income Expenses | 0.02 | - | - | 0.16 | - |
| Other Income Expense | - | -0.03 | -0.16 | 0.12 | 0.20 |
| Interest Income Non Operating | - | 0.58 | 1.86 | 2.19 | 2.01 |
| Net Non Operating Interest Income Expense | - | 0.58 | 1.86 | 2.19 | 2.01 |
| Pretax Income | - | 16.18 | 21.74 | 24.28 | 28.36 |
| Tax Provision | - | 3.35 | 4.55 | 5.04 | 5.88 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.01 | -0.03 | -0.01 | 0.04 |
| Net Income Continuous Operations | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Net Income From Continuing And Discontinued Operation | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Net Income From Continuing Operation Net Minority Interest | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Net Income | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Net Income Common Stockholders | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Net Income Including Noncontrolling Interests | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Normalized Income | - | 12.85 | 17.32 | 19.27 | 22.32 |
| Diluted NI Availto Com Stockholders | - | 12.83 | 17.19 | 19.23 | 22.48 |
| Basic Average Shares | - | 12.56 | 12.60 | 12.67 | 12.72 |
| Diluted Average Shares | - | 12.64 | 12.72 | 12.78 | 12.85 |
| Reconciled Depreciation | - | 0.67 | 0.77 | 0.82 | 1.17 |
| Reconciled Cost Of Revenue | - | 12.02 | 15.40 | 16.89 | 19.49 |
| Total Unusual Items | - | -0.03 | -0.16 | -0.05 | 0.20 |
| Total Unusual Items Excluding Goodwill | - | -0.03 | -0.16 | -0.05 | 0.20 |
| Special Income Charges | - | 0 | -0.01 | 0 | 0.20 |
| Gain On Sale Of Security | - | -0.03 | -0.15 | -0.04 | 0 |
| General And Administrative Expense | - | 10.70 | 15.12 | 15.94 | 17.78 |
| Other Gand A | - | 10.70 | 15.12 | 15.94 | 17.78 |
| Gain On Sale Of Ppe | - | 0 | -0.01 | 0 | 0.20 |
| Selling And Marketing Expense | - | 12.68 | 12.14 | 15.62 | 17.42 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| IRADIMED CORPORATIONthis co. | IRMD | $1.2B | 53.21 | 12.64 | 23.8% | 41.92 |
| Alphatec Holdings, Inc. | ATEC | $1.2B | - | 98.07 | -1154.3% | - |
| Inspire Medical Systems, Inc. | INSP | $1.2B | 8.36 | 1.56 | 18.6% | 14.32 |
| CareDx, Inc. | CDNA | $1.2B | -55.93 | 3.94 | -7.0% | -248.15 |
| Kestra Medical Technologies, Ltd. | KMTS | $1.2B |
| - |
| - |
| - |
| - |
| - |
| -10.49 |
| 5.81 |
| -55.4% |
| -10.21 |
| AMN Healthcare Services, Inc. | AMN | $1.2B | - | 1.85 | -14.9% | 19.35 |
| Schrödinger, Inc. | SDGR | $1.2B | -11.47 | 3.25 | -28.4% | -6.61 |
| Wave Life Sciences Ltd. | WVE | $1.2B | - | 2.26 | -39.4% | - |
| Avanos Medical, Inc. | AVNS | $1.2B | - | 1.50 | -9.4% | - |
| Peer Median | - | -10.98 | 2.76 | -21.6% | -6.61 | |