Imricor Medical Systems Inc
ASX:IMR

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Imricor Medical Systems Inc Logo
Imricor Medical Systems Inc
ASX:IMR
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Price: 1.54 AUD -5.81%
Market Cap: 494.3m AUD

Imricor Medical Systems Inc
Investor Relations

Imricor Medical Systems, Inc. is a medical device company, which engages in the design, manufacture, and distribution of magnetic resonance imaging (MRI) compatible products for cardiac catheter ablation procedures. The company is headquartered in Burnsville, Minnesota. The company went IPO on 2019-08-30. The firm is engaged in designing, manufacturing, and selling MRI-compatible products for cardiac catheter ablation procedures to treat arrhythmias. Its products include Vision-mitral regurgitation (MR) Ablation Catheter, Advantage-MR electrophysiology (EP) Recorder/Stimulator and Vision-MR Dispersive Electrode. The Vision-MR Ablation Catheter is designed to work under real-time MRI guidance. Advantage-MR EP Recorder/Stimulator System provides technology that allows physicians to utilize both the EP recording system and a cardiac stimulator while ablating within the iCMR environment. The firm sells its products to hospitals and clinics for use in iCMR labs, in which ablation procedures using the Vision-MR Ablation Catheter can be performed.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Aug 25, 2025
AI Summary
Q2 2025

Revenue Drop: Imricor reported total revenue of $197,000 for the half, down 52% from the prior period, mainly due to lower equipment sales.

Increased Loss: Net loss rose to $13.1 million, a 92% increase, driven by fair value changes in convertible notes and higher investment in R&D and commercial teams.

Strong Cash Position: The company ended the period with a cash balance of $50.3 million, following a $42.8 million equity raise, providing over 11 quarters of funding.

Regulatory Progress: NorthStar system was submitted for FDA 510(k) approval in July and is expected to be approved by year-end; other products are set for sequential submissions and approvals through early 2025.

Commercial Pipeline Rebuilding: The European sales team has been rebuilt with experienced staff, and the hospital pipeline is growing, with several sites moving toward closure.

US Market Momentum: More US hospitals than expected are interested in joining the VISABL-AFL trial, potentially enabling a faster launch in the American market once approved.

Outlook: Imricor expects steady regulatory progress and pipeline conversion, with anticipated commercial growth in Europe, the Middle East, and the US.

Key Financials
Revenue
$197,000
Sales of Consumable Devices
$135,000
Net Loss
$13.1 million
Underlying Net Loss
$9.99 million
Operating Cash Outflow
$9.1 million
Cash Balance
$50.3 million
Equity Raise Proceeds
$42.8 million
Outstanding Convertible Notes (Fair Value)
$23.7 million
Outstanding Convertible Notes (Principal & Accrued Interest)
$6.3 million
Earnings Call Recording
Other Earnings Calls
2025
2024
2021
2020
2019

Management

Mr. Steven Wedan
President, CEO & Executive Chairman
No Bio Available
Mr. Jonathon Gut
CFO & VP of Finance
No Bio Available
Mr. Gregg Stenzel
Chief Operating Officer
No Bio Available
Mr. Greg Englehardt
Vice President of Global Sales
No Bio Available
Mr. Nick Twohy
Vice President of Marketing & Business Development
No Bio Available
Mr. Kobe Lizheng
Company Secretary & Local Agent
No Bio Available

Contacts

Address
MINNESOTA
Burnsville
400 Gateway Blvd
Contacts
+19528188402
imricor.com