IMRICOR MEDICAL SYSTEMS INC (IMR)
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IMR - IMRICOR MEDICAL SYSTEMS INC

FNArena Sector : Medical Equipment & Devices

Year End: December

GICS Industry Group : Health Care Equipment & Services

Debt/EBITDA: -1.47

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$1.43 11 Aug 2025	0.020 OPEN $1.45	1.42% HIGH $1.45	316,510 LOW $1.36

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$1.43

11 Aug
2025

0.020

OPEN

$1.45

1.42%

HIGH

$1.45

316,510

LOW

$1.36

TARGET

$2.22

55.2% upside

OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . COH . CSX . CU6 . CVB . CYC . EBR . EMV . EYE . FPH . IME . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RMD . SOM . TRJ . UBI .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY25 Forecast	FY26 Forecast
EPS (cps)	- 8.2	xxx
DPS (cps)	0.0	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	N/A	xxx
Dividend Yield	0.0%	xxx
Div Pay Ratio(%)	N/A	xxx

Title	FY25 Forecast	FY26 Forecast
EPS (cps)	- 8.1	xxx
DPS (cps)	0.0	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	N/A	xxx
Dividend Yield	0.0%	xxx
Div Pay Ratio(%)	N/A	xxx

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	- 13.3	- 5.3	xxx
DPS (cps)	xxx	0.0	0.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	N/A	xxx

This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-20.1
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	1.5 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	-4.4
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	-23.6 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-3,094.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-393.74 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-191.15 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-195.92 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-23.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	1 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	34 M
Total Debt	xxx	xxx	xxx	xxx	xxx	34 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	25 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	-

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	0.1 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	8.13 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	3 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	23 M
Research & Development	xxx	xxx	xxx	xxx	xxx	12 M
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Morgans	29/07/2025	1	Speculative Buy	$2.22	55.24%	Morgans maintains a Speculative Buy on Imricor Medical Systems with a price target of $2.22, revised down from $2.28. The broker notes the 2Q25 cash flow report showed lower-than-expected receipts of US$0.08m, while costs were well contained, with US$50.3m cash in hand covering 11 quarters of spend at current burn rates. Sales momentum in Europe is expected to improve, supported by an expanded sales team and a doubled pipeline of 27 accounts. A 3-6 month delay in US regulatory approval for atrial flutter has led Morgans to halve site acquisition forecasts for FY25-27 and increase projected losses over the same period. Despite short-term earnings downgrades, the broker remains positive on Imricor's long-term potential in the growing $8bn cardiac ablation market. FORECAST Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -8.20 cents. Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -5.41 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Morgans

29/07/2025

Speculative Buy

$2.22

55.24%

Morgans maintains a Speculative Buy on Imricor Medical Systems with a price target of $2.22, revised down from $2.28.

The broker notes the 2Q25 cash flow report showed lower-than-expected receipts of US$0.08m, while costs were well contained, with US$50.3m cash in hand covering 11 quarters of spend at current burn rates.

Sales momentum in Europe is expected to improve, supported by an expanded sales team and a doubled pipeline of 27 accounts.

A 3-6 month delay in US regulatory approval for atrial flutter has led Morgans to halve site acquisition forecasts for FY25-27 and increase projected losses over the same period.

Despite short-term earnings downgrades, the broker remains positive on Imricor's long-term potential in the growing $8bn cardiac ablation market.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -8.20 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -5.41 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Canaccord Genuity	08/08/2025	1	Initiation of coverage with Buy	$2.06	44.06%	Canaccord Genuity has initiated coverage of Imricor Medical Systems with a Buy rating and target price of $2.06. The company is developing MRI-compatible cardiac ablation systems, allowing procedures to be performed in real-time under MRI guidance instead of traditional x-ray. The technology platform is called Interventional Cardiac Magnetic Resonance (iCMR). The global market is estimated at US$12bn and the product's revenue outlook depends on site installation. The broker is forecasting 1, 8 and 15 installations driving 43, 423 and 1,371 global procedures, respectively, across FY25-27. By FY32, the forecast is for 190 global iCMR labs, including 100 in the US, for a revenue of US$250m. The analysis highlights forecasts are highly reliant on the pace of the ramp up. FORECAST Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.15 cents. Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.15 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

08/08/2025

Initiation of coverage with Buy

$2.06

44.06%

Canaccord Genuity has initiated coverage of Imricor Medical Systems with a Buy rating and target price of $2.06.

The company is developing MRI-compatible cardiac ablation systems, allowing procedures to be performed in real-time under MRI guidance instead of traditional x-ray. The technology platform is called Interventional Cardiac Magnetic Resonance (iCMR).

The global market is estimated at US$12bn and the product's revenue outlook depends on site installation. The broker is forecasting 1, 8 and 15 installations driving 43, 423 and 1,371 global procedures, respectively, across FY25-27.

By FY32, the forecast is for 190 global iCMR labs, including 100 in the US, for a revenue of US$250m. The analysis highlights forecasts are highly reliant on the pace of the ramp up.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.15 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.15 cents.

Access Extra Coverage Research History >

IMR STOCK CHART

FNArena News on IMR

1	Australian Broker Call Extra Edition – Aug 08, 2025 Aug 11 2025 - Daily Market Reports

2	Next Week At A Glance 24-28 Mar 2025 Mar 21 2025 - Weekly Reports

3	Rudi’s View: Post February Conviction Calls Mar 13 2025 - Rudi's View

4	FNArena Corporate Results Monitor – 28-02-2025 Feb 28 2025 - Australia

5	Rudi’s View: Banks, WiseTech, Redox & Integral Diagnostics Dec 19 2024 - Rudi's View

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8	ResMed Shakes Off GLP-1 Scare Feb 04 2025 - Australia

9	ResMed: Another Positive Quarterly Surprise? Jan 30 2025 - Australia

10	The Trend Remains Pro Medicus’ Friend Jan 16 2025 - Technicals

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Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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IMRICOR MEDICAL SYSTEMS INC (IMR)
Share Price Analysis and Chart