Iradimed Corp (NASDAQ: IRMD)

IRADIMED CORPORATION develops, manufactures, markets, and distributes Magnetic Resonance Imaging compatible medical devices, related accessories, disposables, and services. The company operates in the medical device industry, focusing on products that enable safe use of MRI systems for critically ill patients. Its mission is to increase patient safety and improve workflow during magnetic resonance imaging procedures.

The company generates revenue primarily from the sale of its MRI compatible infusion pumps, patient vital signs monitors, ferromagnetic detection devices, and associated disposable products. Additional revenue streams include extended maintenance agreements, service contracts, and the sale of optional accessories such as remote display units and side car pump modules. In fiscal year 2025 total revenue reached $83.8 million with operating income of $26.1 million resulting in an operating profit margin of 31.2%. Revenue by product type showed devices accounting for 72% disposables for 21% service and other for 4% and amortization of extended maintenance agreements for 3%. Geographically the United States contributed 84% of total revenue while international markets accounted for the remaining 16%.

IRADIMED CORPORATION operates through a single reportable segment that encompasses all of its MRI compatible medical device activities.

• MRI Compatible Medical Devices: This segment designs, manufactures, and markets MRI compatible infusion pumps, patient vital signs monitors, ferromagnetic detection devices, disposables, remote display units, side car modules, and dose error reduction software.

IRADIMED CORPORATION holds a leading position in the MRI compatible medical device market as the sole provider of a nonmagnetic MRI compatible infusion pump system. For MRI compatible patient vital signs monitoring the company competes with established firms such as Invivo Research now part of Philips, GE Healthcare, and Schiller AG. The addressable market for MRI compatible infusion pumps and vital signs monitors is estimated at approximately 27,350 units each based on the number of suitable MRI scanners worldwide. The company's competitive advantages include patented nonmagnetic ultrasonic motor technology, the ability to operate in magnetic fields up to 30,000 gauss for its monitoring system and up to 15,000 gauss for its infusion pump, integrated dose error reduction software, and remote display capabilities that allow control from outside the scanner room. These features reduce the risk of projectile hazards heating and radio frequency interference while providing accurate fluid delivery and uninterrupted vital signs monitoring.

The company serves hospitals and acute care facilities in the United States and internationally through a direct sales force and independent distributors. Its customers include adult and pediatric critical care units emergency departments and radiology departments that require safe IV fluid delivery and vital signs monitoring during MRI procedures. As of December 31, 2025, the company employed 29 field sales representatives, 4 regional sales directors, and 10 clinical application specialists to support its U. S. sales efforts. International sales are handled by a network of distributors covering approximately 80 countries.