In This Article:
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Revenue: $19.5 million, an 11% increase from Q1 2024.
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Gross Margin: 76.1%, consistent with Q1 2024.
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GAAP Diluted EPS: $0.37, a 16% increase from $0.32 in Q1 2024.
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Non-GAAP Diluted EPS: $0.42, up 17% from $0.36 in Q1 2024.
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Operating Income: $5.4 million, a 14% increase from $4.7 million in Q1 2024.
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Operating Expenses: $9.4 million, 48% of revenue.
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Cash Flow from Operations: $4.3 million, up 10% from $3.9 million in Q1 2024.
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Free Cash Flow: $0.4 million, down from $3.4 million in Q1 2024 due to capital expenditures.
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Domestic Revenue: $16 million, a 19% increase, accounting for 82% of total revenue.
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International Sales: $3.5 million, a 15% decline.
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Device Revenue: $13 million, a 9% increase.
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Disposable Revenue: $4.9 million, a 23% increase.
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Service Revenue: $1 million, stable.
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Research and Development Expenses: $0.6 million, a 24% decrease.
Release Date: May 05, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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iRadimed Corp (NASDAQ:IRMD) reported its 15th consecutive quarter of record revenues, achieving $19.5 million in Q1 2025, an 11% increase over the same period last year.
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Gross profit remained strong at 76.1%, with GAAP diluted earnings per share increasing by 16% from Q1 2024.
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The company experienced a 16% growth in IV and fusion pump systems revenue and a 23% increase in disposable revenue.
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Domestic sales accounted for 82% of total revenue, increasing by 19% to $16 million.
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The company is on track with its new facility, expecting full operations by the end of July 2025, mitigating potential material cost impacts effectively.
Negative Points
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International sales declined by 15% to $3.5 million, indicating challenges in global market expansion.
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Operating expenses increased to $9.4 million, driven by higher general and administrative costs, including legal and professional fees.
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Research and development expenses decreased by 24%, which may impact future innovation and product development.
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Free cash flow decreased significantly due to $3.9 million in capital expenditures, primarily for the new facility.
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The impact of tariffs remains uncertain, with potential indirect effects on supplier pricing and cost structures.
Q & A Highlights
Q: Can you provide insights into the strong performance of disposables in Q1? Was there any backlog reduction contributing to this? A: John Glenn, CFO: The growth in disposables was partly due to working down the backlog to meet customer demand. We expect future growth to align with capital growth and pump utilization.