iRadimed Launches New 3870 MR IV Pump, Guides Q3 Revenue Up 12-20%
IRMD sits 29% above its 52-week low of $67.842.
Summary
iRadimed's Q2 revenue rose 0.5% to $20.5M, but the real story is the launch of its new 3870 MR IV pump. Over 70% of new pump orders were for the quad stack configuration, and management expects revenue from the new platform to ramp significantly in H2. Q3 guidance of $23.0M-$24.5M implies 12-20% sequential growth, and full-year outlook was reaffirmed at $91M-$96M. This follows the July 31 earnings release, but adds concrete pump launch metrics and forward guidance that were not previously disclosed.
At the time of this announcement, IRMD was trading at $87.85 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $67.84 to $107.90. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.