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IRADIMED CORPORATION (NASDAQ: IRMD) is a leading developer, manufacturer, marketer, and distributor of innovative Magnetic Resonance Imaging (MRI) compatible medical devices. Incorporated in 1992 and headquartered in Winter Springs, Florida, the company specializes in MRI-compatible intravenous (IV) infusion pump systems and MRI-compatible patient vital signs monitoring systems. These products are essential for ensuring the safety and accuracy of medical procedures during MRI scans, widely used in hospitals, acute care facilities, and outpatient imaging centers both in the United States and internationally.
IRADIMED’s flagship product, the MRidium® MRI-compatible IV infusion pump system, is designed with non-magnetic components to eliminate the risks associated with traditional infusion pumps in MRI environments. The pump system uses a non-magnetic ultrasonic motor and uniquely designed non-ferrous parts to safely deliver anesthesia and other IV fluids during MRI scans.
The company also offers the IRADIMED 3880 MRI-compatible patient vital signs monitoring system, which features non-magnetic components to safely monitor vital signs during MRI procedures. The compact, lightweight design allows it to move with the patient from critical care units to MRI rooms, ensuring uninterrupted monitoring.
IRADIMED distributes its products through a robust network of direct field sales representatives, regional sales directors, clinical support representatives, and independent distributors. The company has demonstrated strong financial performance, achieving record revenue and consistent profitability. For instance, in the third quarter of 2023, IRADIMED reported a 23% year-over-year revenue growth to $16.5 million, with continued strength in its monitoring business.
Recent achievements include being listed on Forbes’ 2024 list of America’s Most Successful Small-Cap Companies and transitioning to the Nasdaq Global Market, reflecting the company’s growth trajectory and commitment to delivering value to stockholders.
Looking ahead, IRADIMED projects further growth with anticipated revenue of $72.0 million to $74.0 million for the full year 2024 and continued innovations in MRI-compatible medical devices.
IRADIMED (NASDAQ: IRMD), a pioneer in MRI-compatible medical devices and exclusive provider of non-magnetic IV infusion pump systems, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. CEO Roger Susi and CFO Jack Glenn will deliver the company presentation on Wednesday, January 15, 2025, at 5:15 p.m. Pacific Time. Investors and interested parties can access both live and archived versions of the presentation through the 'Events and Presentations' section on IRADIMED's investor website.
IRADIMED (NASDAQ: IRMD) has achieved the 24th position on Forbes' list of America's Most Successful Small-Cap Companies 2025, improving from its 59th rank in 2024. The company is recognized as the sole provider of non-magnetic IV infusion pump systems and patient vital signs monitoring systems designed for MRI procedures.
Forbes evaluated 914 companies with market values between $300 million and $2 billion, selecting the top 100 based on earnings growth, sales growth, return on equity, and total stock return over both the latest 12 months and five-year periods. The data was compiled as of November 8, 2024.
Roger Susi, President and CEO, attributed this achievement to the company's commitment to innovation, execution of strategic plans, and robust growth resulting in record financial performance.
IRADIMED (NASDAQ: IRMD) has been named to Fortune's 100 Fastest Growing Companies list for 2024, ranking 61st. The company, which specializes in non-magnetic MRI-compatible medical devices, earned this recognition based on growth in revenue, profits, and stock returns.
To qualify, companies needed a minimum market cap of $225 million, stock price of at least $5, minimum revenue of $50 million, net income of $10 million, and 20% annual growth in revenue and earnings per share over three years. The ranking considers revenue growth rate, EPS growth rate, and three-year annualized total return through June 28, 2024.
IRADIMED (NASDAQ: IRMD) reported record Q3 2024 revenue of $18.3 million, up 11% year-over-year. The company achieved GAAP diluted EPS of $0.40 and Non-GAAP diluted EPS of $0.43. Management raised full-year 2024 guidance, expecting revenue between $72.7-73.1 million and GAAP diluted EPS of $1.49-1.52. The company declared a quarterly dividend of $0.15 per share. Domestic sales represented 83% of total revenue, with gross profit margin at 77.4%. The company's MRI-compatible IV infusion pump systems showed strong performance, contributing significantly to the quarter's success.
IRADIMED (NASDAQ: IRMD) has scheduled its 2024 third quarter financial results conference call for October 31st, 2024. The company will release its financial results before market opening, followed by a management-hosted conference call at 11:00 a.m. Eastern Time. Interested participants can register for the call through a provided link, after which they will receive dial-in details and instructions. The call will be available real-time via the internet on the company's website, and a recording will be accessible afterward.
IRADIMED (NASDAQ: IRMD), a leading provider of innovative MRI-compatible medical devices, announced its participation in the 3rd Annual ROTH Healthcare Opportunities Conference. The event will take place on October 9, 2024, at the Metropolitan Club in New York.
Iradimed's CFO, Jack Glenn, will be hosting one-on-one meetings with investors during the conference. This participation demonstrates Iradimed's commitment to engaging with the investment community and showcasing its innovative products in the healthcare sector.
The conference provides an excellent platform for Iradimed to connect with potential investors and discuss its advancements in MRI-compatible medical devices. It also offers an opportunity for the company to highlight its market position and growth strategies in the healthcare technology industry.
Iradimed (NASDAQ: IRMD), a leader in MRI-compatible medical devices, announced its participation in the Lake Street 8th Annual Best Ideas Growth "Big 8" Conference. The event will be held at the Yale Club in New York on September 12, 2024. Iradimed's management team will conduct one-on-one meetings with investors during the conference.
IRADIMED (NASDAQ: IRMD) reported record Q2 2024 financial results, with revenue of $17.9 million, up 11.2% year-over-year. The company achieved GAAP diluted EPS of $0.38 and non-GAAP diluted EPS of $0.42. Operating income increased by 13.4% to $5.6 million. IRADIMED declared a quarterly cash dividend of $0.15 per share.
For Q3 2024, the company expects revenue between $18.0-$18.2 million and GAAP diluted EPS of $0.34-$0.37. The full-year 2024 guidance remains unchanged, with expected revenue of $72.0-$74.0 million and GAAP diluted EPS of $1.37-$1.47. The strong performance was driven by growth in the IV infusion pump product line and continued strength in gross margins.
IRADIMED (NASDAQ: IRMD) has announced its upcoming 2024 second quarter financial results conference call, scheduled for August 1, 2024. The company will release its financial results before the market opens on that day. The conference call, hosted by Iradimed management, will begin at 12:00 p.m. Eastern Time.
Interested individuals can participate by registering through the provided link. Upon registration, participants will receive a dial-in number, unique pin, and instructions. The call will also be available in real-time via the internet on Iradimed's investor relations website. A recording of the call will be made available on the company's website following its completion.
Iradimed (NASDAQ: IRMD), a leading provider of MRI-compatible medical devices, announced that its common stock will uplist to the Nasdaq Global Market starting June 14, 2024. This move reflects the company's growth and commitment to delivering value to shareholders. Roger Susi, CEO, emphasized that the uplisting enhances Iradimed's market visibility and aligns it with companies of high distinction. Iradimed was previously listed on the Nasdaq Capital Market since its IPO in 2014. The Nasdaq Global Market is known for its rigorous financial and corporate governance standards, including stocks of about 1,450 companies.