Electromedical & Electrotherapeutic ApparatusIFRS · EUR

IR-Med, Inc.

IR-Med, Inc. is a U.S.-based medical technology company in the electromedical and electrotherapeutic apparatus field. Based on its filings, the company appears to be developing and commercializing medical devices and related technologies, with operations exposed to manufacturing, sourcing, and regulatory execution risks.

Operating profit (EBIT)-1.9m EUR
+60.5 %y/y
Net income-1.9m EUR
+61.3 %y/y
Free cash flow-1.4m EUR
+57.1 %y/y

Fiscal year 2024 · change from previous year

Development 2020–2024

-5-4-3-2-10m EUR2020: EBIT -0.73 m EUR20202021: EBIT -3.7 m EUR20212022: EBIT -4.8 m EUR20222023: EBIT -4.9 m EUR20232024: EBIT -1.9 m EUR2024-1.9
RevenueOperating profit (EBIT)

Business

Share of revenue
Electromedical devices70 %

Medical devices that use electrical or electromagnetic technology for diagnosis or therapy.

Device development20 %

Engineering, prototyping, and product development activities for new medical technologies.

Manufacturing and sourcing10 %

Procurement of raw materials, components, and production support for device output.

Customers

IR-Med’s customers are likely healthcare providers, distributors, and other medical-device channel partners that buy specialized electromedical products for clinical use. The company’s filings also suggest exposure to international supply and market conditions, so customer demand may depend on regulatory approvals, product availability, and reimbursement or adoption dynamics.

Healthcare providers

Hospitals, clinics, and medical practices that buy devices for clinical diagnosis or therapy.

Distributors and channel partners

Medical-device distributors that purchase inventory for resale into healthcare markets.

International customers

Overseas buyers and partners whose demand is affected by trade policy, tariffs, and logistics.

Strategy

The company’s near-term focus appears centered on advancing product development while maintaining supply continuity and managing cost pressure from tariffs and trade restrictions. Protecting margins, securing sourcing flexibility, and reducing operational disruption are important because the business depends on specialized components and timely manufacturing execution.

Supply-chain resilienceShort term

Tariffs and trade tensions can raise costs or interrupt component availability.

Product commercializationMedium term

A medical-device company needs successful development and market adoption to scale.

Geography

IR-Med is headquartered in the United States, and its filings highlight exposure to U.S. trade policy and tariffs as a direct operating risk. The company also references manufacturing and development activities in countries where it or its customers operate, indicating that sourcing and supply-chain decisions may span multiple jurisdictions.

Risks

IR-Med faces material exposure to tariff changes, trade restrictions, and supply-chain disruption because its products depend on sourced components and manufacturing execution. As a medical-device company, it also faces typical industry risks such as regulatory hurdles, commercialization uncertainty, and demand variability, which can delay revenue generation and pressure margins.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Tariff-driven input cost inflation1Supply-chain disruption2
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Tariff-driven input cost inflationImpact: HighLikelihood: Medium

    U.S. tariffs may increase the cost of raw materials and components used in products.

    Exposure: Manufacturing costs and gross margin

  2. Supply-chain disruptionImpact: HighLikelihood: Medium

    Escalating trade tensions can delay sourcing, production, and delivery timelines.

    Exposure: Operations and customer fulfillment

  3. Commercialization and adoption riskImpact: Medium

    Medical-device products can face slow market acceptance and long sales cycles.

    Exposure: Revenue growth and operating leverage

  4. Regulatory and compliance riskImpact: Medium

    Electromedical products typically require approvals and ongoing compliance oversight.

    Exposure: Product launch timing and market access

Accounting

Judgemental items
Inventory and input-cost accounting

Tariff-driven cost changes can affect inventory valuation and reported margins.

Impact: Gross margin and working capital

Revenue recognition timing

Early-stage device commercialization can create uneven shipment and acceptance timing.

Impact: Quarterly revenue comparability

Development cost treatment

Whether project costs are expensed or capitalized can materially affect earnings.

Impact: Operating loss and asset balances

Impairment and reserve estimates

Small medical-device companies often rely on judgment for write-downs and contingencies.

Impact: Earnings volatility

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026