IRADIMED CORP Revenue Disclosure
2 — Revenue
Disaggregation of Revenue
We disaggregate revenue from contracts with customers by geographic region and revenue type as we believe it best depicts the nature, amount, timing and uncertainty of our revenue and cash flow.
Revenue information by geographic region is as follows:
| Year Ended | ||||||||
December 31, | |||||||||
2025 | | 2024 | |||||||
(in thousands) | |||||||||
United States | $ | 70,558 | $ | 60,607 | |||||
International |
| 13,256 |
| 12,635 | |||||
Total revenue | $ | 83,814 | $ | 73,242 | |||||
Revenue information by type is as follows:
| | Year Ended | |||||||||
December 31, | |||||||||||
2025 | | 2024 | |||||||||
(in thousands) | |||||||||||
Devices: |
|
| |
| | ||||||
MRI Compatible Intravenous ("IV") Infusion Pump Systems | $ | 31,636 | $ | 26,599 | |||||||
MRI Compatible Patient Vital Signs Monitoring Systems |
| 26,427 |
| 24,412 | |||||||
Ferro Magnetic Detection Systems |
| 1,916 |
| 910 | |||||||
Total devices revenue |
| 59,979 |
| 51,920 | |||||||
Amortization of extended maintenance agreements |
| 2,380 |
| 2,249 | |||||||
Disposables |
| 17,564 |
| 15,017 | |||||||
Services and other | 3,891 | 4,056 | |||||||||
Total revenue | $ | 83,814 | $ | 73,242 | |||||||
Contract Liabilities
Our contract liabilities consist of:
| As of December 31, | ||||||||
| 2025 | | 2024 | ||||||
(in thousands) | |||||||||
Advance payments from customers | $ | 486 | $ | 88 | |||||
Shipments in-transit |
| 93 |
| 2 | |||||
Extended maintenance agreements |
| 6,270 |
| 5,163 | |||||
Total | $ | 6,849 | $ | 5,253 | |||||
Changes in the contract liabilities during the period indicated are as follows:
| Deferred | |||
| Revenue | |||
(in thousands) | ||||
Contract liabilities, December 31, 2024 | $ | 5,253 | ||
Increases due to cash received from customers |
| 5,400 | ||
Decreases due to recognition of revenue |
| (3,804) | ||
Contract liabilities, December 31, 2025 | $ | 6,849 | ||
Capitalized Contract Costs
Our capitalized contract costs totaled $239 and $180 as of December 31, 2025 and 2024, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 2, 2023 | |
| 2021 | Mar 4, 2022 | |
| 2020 | Mar 5, 2021 | |
| 2019 | Mar 6, 2020 | |
| 2018 | Mar 7, 2019 | |
| 2017 | Mar 8, 2018 | |
| 2016 | Mar 10, 2017 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.