iRadimed narrows 2026 outlook after third-quarter revenue rises 14% to $24.2 million
Key Facts
iRadimed reported results on October 30, 2026, for the third quarter ended September 30, with revenue of $24.2 million, up 14% from $21.2 million in the same period of 2025. In the same disclosure, the company narrowed its full-year revenue and diluted earnings-per-share outlook, lowering the upper end of both while keeping the lower end of its GAAP earnings-per-share forecast at $1.90. The revision followed a quarter in which the company recorded growth in revenue and net income, while the CEO said on the results call that the pace of production increases was being managed to maintain quality. Net income was $6.5 million, compared with $5.6 million a year earlier, while GAAP diluted earnings per share rose to $0.51 from $0.43. The results put the narrower annual guidance alongside quarterly growth, with the pace of production still being managed, according to the company.
iRadimed set its 2026 revenue outlook at $91.6 million to $93.1 million, compared with the previous range of $91.0 million to $96.0 million. It now expects GAAP diluted earnings per share of $1.90 to $1.94, compared with the previous range of $1.90 to $2.05. The lower end of its GAAP earnings-per-share outlook therefore remained unchanged, while the upper end fell from $2.05 to $1.94. The company also narrowed its non-GAAP diluted earnings-per-share outlook to $2.07–$2.11, from $2.06–$2.21. The revision reflects lower upper ends for revenue and earnings per share, rather than a broad reduction across all ends of the annual outlook.
The CEO said the manufacturing team had begun achieving the production efficiencies the company had expected, as it gained experience with the new platform and increased production. On the results call, he attributed the managed pace of the increase to avoiding pushing production to a level that would harm quality. The disclosure said revenue for the first nine months of 2026 was $66.6 million, up 9% from $61.1 million in the same period. In the third quarter, domestic sales accounted for 82% of revenue, compared with 85% a year earlier, while gross margin was 76%, compared with 78%. The company said bookings for domestic pump channels rose 45% year over year, and that the four-pump configuration accounted for more than 70% of pump bookings in the quarter.
The company had kept its annual outlook unchanged in July, after reporting second-quarter revenue of $20.5 million, up just 0.5% year over year. In that update, it forecast third-quarter revenue of $23.0 million to $24.5 million; actual third-quarter revenue came in at $24.2 million, within the previous range and near its upper end. For the first nine months, operating cash flow was $21.2 million, up 12% from $19.0 million in the same period. The company attributed the increase in part to higher net income and accounts payable, partly offset by higher tax payments and inventory purchases. The CEO said quarterly bookings reached record levels, driven by record monitor-device bookings and higher bookings for domestic pump channels.
iRadimed expects fourth-quarter 2026 revenue of $25.0 million to $26.5 million and GAAP diluted earnings per share of $0.53 to $0.57. The CEO said the company believes it is well positioned to finish the year strongly, citing record bookings and growing momentum for the 3870 pump. The company also declared a quarterly cash dividend of $0.20 per share. It set November 13, 2026, as the record date for eligible shareholders, with the dividend payable on November 27. In trading on October 30, IRMD shares closed at $76.68, compared with the previous session's close of $85.74.