Oct 30, 2026 earnings call — New MR IV pump ramp and record revenue
Record quarterly revenue of $24.2 million driven by ramped 3870 pump production (over 125% increase from Q2).
Revenue $0.0B (est $0.0B) · EPS $0.55 (est $0.55) · Next-quarter revenue outlook $0.0B–$0.0B
Key quotes
"With our initial testing of the waters release of a few dozen pumps during Q4 and Q1 to the broad market launch in Q2 and with having produced now over 400 systems during Q3, our teams have risen to perform extraordinarily well."
"Consider that during Q3, our sales team booked record numbers of both the 3880 monitor and 3870 pumps, proving the customer acceptance of these devices and building a very comfortable backlog for Q4."
"It's a great opportunity with still nearly 6,400 older, meaning over 5 years of age, 3860/61 pump channels in the U.S. market."
Analyst Q&A 3
pump ramp and disposable usage
Q (ROTH Capital Partners): They asked why full-year revenue guidance was lowered despite record bookings. They also asked how much of the 21% disposable growth came from new 3870 installs and how disposable pull-through compares to 3860.
A: Management said pump production ramp was difficult and they had to slow the ramp to protect quality. They said most 3870s shipped have not been used yet because in-servicing takes 6 to 8 weeks, so disposable pull-through from 3870s is essentially not seen yet and should start to show by end of Q4.
"And so yes, you have to sort of -- you have to pay that piper and you have to be careful that the ramp rate is not so ridiculously high that you can't keep the quality up." — Roger Susi (CEO)
timeline for pump sales and new customers
Q (Frank Takkinen · Lake Street): He asked how the move from roughly 1,000 3860 channels to 2,000 3870 channels translates into 2027 pump revenue and timing. He also asked why greenfield customers chose the 3870 and about monitor outlook into 2027.
A: Management said in Q4 they will increase channel output about 50% over Q3 and approach about 500 channels, with continued growth through 2027 but at smaller quarter-to-quarter step rates. They said greenfield buyers liked the 3870's updated user interface, automation, sensors and animations that make it easier to use, and that the monitor is still growing with expanded remote controls for some hospitals.
"So as we start to get towards -- in Q4, we're going to put out, as I said, another 50% or more channels over Q3 and get start to approach 500 channels." — Roger Susi (CEO)
run rate, growth, and gross margin outlook
Q (David Saxon · Needham & Company): He asked if the fourth-quarter guide still implies the pump run rate (and $100 million total run rate) discussed earlier. He also asked about 2027 growth expectations and gross margin outlook into Q4 and next year.
A: Management said the fourth-quarter guide does imply the higher pump output and about 500 units, which at the current ASP supports that run-rate math. They expect sequential gross margin improvement in Q4 versus the 76% in Q3 and said margins could return to historical 77%–78% or better in early next year, noting international mix and a higher tax rate can affect margins.
"We're looking at -- as I mentioned, we're going to push towards another 50-plus percent increase in the pump output and revenue." — Roger Susi (CEO)