IRADIMED Corporation reported a significant increase in financial performance for the second quarter of 2025, with total revenue reaching $20.4 million, a 14% rise from $17.9 million in the same period last year. For the first half of 2025, revenue totaled $39.9 million, up 12% from $35.5 million in the prior year. The company’s net income for the quarter was $5.8 million, or $0.45 per diluted share, compared to $4.9 million, or $0.38 per diluted share, in the second quarter of 2024. This growth in profitability was attributed to increased sales of MRI-compatible medical devices, particularly the IV infusion pump systems and disposables.
The company experienced notable changes in its operational metrics, with domestic sales accounting for 89% of total revenue in the second quarter, up from 86% in the previous year. U.S. sales increased by $2.7 million, or 17%, while international sales decreased by 8% to $2.2 million. The revenue from device sales rose by 15% to $14.6 million, driven by strong demand for the MRidium® IV infusion pump and related products. The gross profit margin remained stable at 78% for both the second quarter of 2025 and 2024.
In terms of strategic developments, IRADIMED announced the FDA clearance of its next-generation MRidium® 3870 IV infusion pump system in May 2025. The company plans to roll out this product to select healthcare facilities in the fourth quarter of 2025, with full commercial distribution expected throughout 2026. Additionally, the company is in the process of completing a new corporate office and manufacturing facility in Orlando, Florida, which is anticipated to support future growth.
Operationally, IRADIMED's workforce included 27 field sales representatives and 4 regional sales directors as of June 30, 2025. The company reported an increase in operating expenses, which rose to $9.2 million for the quarter, primarily due to higher sales and marketing costs, as well as increased general and administrative expenses. The total employee headcount has remained stable, reflecting the company's focus on maintaining operational efficiency while expanding its product offerings.
Looking ahead, IRADIMED expects continued revenue growth for the remainder of fiscal year 2025, driven by increased sales of its medical devices and related services. However, the company also anticipates higher operating expenses due to increased investments in sales and marketing, regulatory compliance, and general administrative functions. The company remains optimistic about its market position and the potential impact of new product launches on its financial performance.
About IRADIMED CORP
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