IRadimed (IRMD) Q2 2026 Earnings Call Transcript

IRadimed's new 3870 MRI-compatible pump squeezed gross margins to 74% in Q2 2026, down from 78%, as the company navigated first-production manufacturing inefficiencies. Revenue reached $20.5 million, up 0.5% year-over-year, while the company hit its manufacturing target of 130-135 units for the quarter.

Demand is outpacing supply. Bookings more than doubled shipments, with 70% of replacement orders opting for quad (4-channel) systems priced above $110,000. Management plans to more than double production to over 300 units in Q3 as line efficiency improves.

The company reaffirmed full-year 2026 guidance of $91-96 million in revenue and $2.09-2.24 in non-GAAP EPS. The margin compression appears temporary, tied to the production ramp rather than pricing pressure or structural headwinds.