IRADIMED CORPORATION Announces Second Quarter of 2024 Financial Results and the Declaration of its Regular Quarterly Cash Dividend of $0.15 Per Share
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) ha riportato risultati finanziari record per il secondo trimestre del 2024, con un fatturato di 17,9 milioni di dollari, in aumento dell'11,2% rispetto all'anno precedente. L'azienda ha raggiunto un utile per azione diluito GAAP di 0,38 dollari e un utile per azione diluito non GAAP di 0,42 dollari. Il reddito operativo è aumentato del 13,4% a 5,6 milioni di dollari. IRADIMED ha dichiarato un dividendo in contante trimestrale di 0,15 dollari per azione.
Per il terzo trimestre del 2024, l'azienda prevede un fatturato tra 18,0 e 18,2 milioni di dollari e un utile per azione diluito GAAP tra 0,34 e 0,37 dollari. Le previsioni per l'intero anno 2024 rimangono invariate, con un fatturato previsto tra 72,0 e 74,0 milioni di dollari e un utile per azione diluito GAAP tra 1,37 e 1,47 dollari. L'ottima performance è stata alimentata dalla crescita nella linea di prodotti delle pompe per infusione IV e dalla continua solidità dei margini lordi.
IRADIMED (NASDAQ: IRMD) reportó resultados financieros récord para el segundo trimestre de 2024, con ingresos de 17.9 millones de dólares, un aumento del 11.2% en comparación con el año anterior. La empresa logró un EPS diluido GAAP de 0.38 dólares y un EPS diluido no GAAP de 0.42 dólares. Los ingresos operativos aumentaron un 13.4% a 5.6 millones de dólares. IRADIMED declaró un dividendo en efectivo trimestral de 0.15 dólares por acción.
Para el tercer trimestre de 2024, la empresa espera ingresos entre 18.0 y 18.2 millones de dólares y un EPS diluido GAAP de 0.34 a 0.37 dólares. La guía para todo el año 2024 se mantiene sin cambios, con ingresos esperados entre 72.0 y 74.0 millones de dólares y un EPS diluido GAAP de 1.37 a 1.47 dólares. El sólido rendimiento fue impulsado por el crecimiento en la línea de productos de bombas de infusión IV y la continua fortaleza de los márgenes brutos.
IRADIMED (NASDAQ: IRMD)는 2024년 2분기 기록적인 재무 결과를 보고했으며, 매출은 1,790만 달러로 지난해 대비 11.2% 증가했습니다. 이 회사는 GAAP 희석 주당순이익(EPS) 0.38달러와 비 GAAP 희석 주당순이익 0.42달러를 달성했습니다. 운영 수익은 13.4% 증가하여 560만 달러에 달했습니다. IRADIMED는 주당 0.15달러의 분기 현금 배당금을 선언했습니다.
2024년 3분기에는 회사가 매출을 1,800만 달러에서 1,820만 달러로 예상하고 있으며, GAAP 희석 EPS는 0.34에서 0.37 달러로 예상하고 있습니다. 2024년 연간 가이던스는 변경되지 않았으며, 매출은 7,200만 달러에서 7,400만 달러, GAAP 희석 EPS는 1.37에서 1.47 달러로 예상하고 있습니다. 이처럼 강력한 성과는 IV 주입 펌프 제품 라인의 성장과 총 이익률의 지속적인 강세에 의해 견인되었습니다.
IRADIMED (NASDAQ: IRMD) a annoncé des résultats financiers record pour le deuxième trimestre 2024, avec des revenus de 17,9 millions de dollars, en hausse de 11,2 % par rapport à l'année précédente. L'entreprise a enregistré un bénéfice par action dilué GAAP de 0,38 dollars et un bénéfice par action dilué non GAAP de 0,42 dollars. Le bénéfice d'exploitation a augmenté de 13,4 % pour atteindre 5,6 millions de dollars. IRADIMED a déclaré un dividende trimestriel en espèces de 0,15 dollars par action.
Pour le troisième trimestre 2024, l'entreprise prévoit des revenus compris entre 18,0 et 18,2 millions de dollars et un bénéfice par action dilué GAAP de 0,34 à 0,37 dollars. Les prévisions pour l'année complète 2024 restent inchangées, avec des revenus attendus entre 72,0 et 74,0 millions de dollars et un bénéfice par action dilué GAAP de 1,37 à 1,47 dollars. La solide performance a été soutenue par la croissance de la gamme de produits de pompes d'infusion IV et la solidité continue des marges brutes.
IRADIMED (NASDAQ: IRMD) hat Rekordergebnisse für das zweite Quartal 2024 bekannt gegeben, mit Umsätzen von 17,9 Millionen Dollar, was einem Anstieg von 11,2% im Vergleich zum Vorjahr entspricht. Das Unternehmen erreichte GAAP verwässerte EPS von 0,38 Dollar und nicht GAAP verwässerte EPS von 0,42 Dollar. Der Betriebsgewinn stieg um 13,4% auf 5,6 Millionen Dollar. IRADIMED erklärte eine vierteljährliche Barausschüttung von 0,15 Dollar pro Aktie.
Für das dritte Quartal 2024 erwartet das Unternehmen Einnahmen zwischen 18,0 und 18,2 Millionen Dollar sowie ein GAAP verwässertes EPS von 0,34 bis 0,37 Dollar. Die Prognose für das Gesamtjahr 2024 bleibt unverändert, mit erwarteten Einnahmen von 72,0 bis 74,0 Millionen Dollar und einem GAAP verwässerten EPS von 1,37 bis 1,47 Dollar. Die starke Leistung wurde durch das Wachstum im Produktbereich der IV-Infusionspumpen und die anhaltende Stärke der Bruttomargen angetrieben.
- Record revenue of $17.9 million for Q2 2024, up 11.2% year-over-year
- GAAP diluted EPS increased to $0.38, up from $0.33 in Q2 2023
- Operating income grew by 13.4% to $5.6 million
- Gross profit margin improved to 78.1% in Q2 2024 from 75.5% in Q2 2023
- Strong growth in MRI Compatible IV Infusion Pump Systems revenue
- Increased cash flow from operations to $6.6 million in Q2 2024, up from $3.5 million in Q2 2023
- Slight decrease in Disposables, services and other revenue from $4.82 million in Q2 2023 to $4.66 million in Q2 2024
- Anticipated $12 million cash expenditure for new facility construction over the next 9-12 months
Insights
IRADIMED 's Q2 2024 results demonstrate robust financial performance and continued growth. The company reported record revenue of
Key financial highlights include:
- GAAP diluted EPS of
$0.38 , up from$0.33 in Q2 2023 - Non-GAAP diluted EPS of
$0.42 , up from$0.36 in Q2 2023 - Operating income of
$5.6 million , a13.4% increase year-over-year - Gross profit margin of
78.1% , up from75.5% in Q2 2023
The company's financial outlook remains positive, with Q3 2024 revenue guidance of
IRADIMED's strong cash flow from operations, which increased to
Overall, IRADIMED's financial performance reflects a company with strong growth momentum, improving profitability and a solid financial position to support future expansion.
IRADIMED 's Q2 2024 results underscore its strong position in the niche market of MRI-compatible medical devices. The company's continued growth, particularly in its IV infusion pump product line, demonstrates the increasing demand for specialized equipment in MRI environments.
Key product performance insights:
- MRI Compatible IV Infusion Pump Systems revenue grew significantly to
$6,881,199 , up from$4,522,568 in Q2 2023 - MRI Compatible Patient Vital Signs Monitoring Systems revenue slightly decreased to
$5,450,224 from$6,128,718 in Q2 2023 - Ferro Magnetic Detection Systems revenue doubled to
$366,402 from$183,190 in Q2 2023
The substantial growth in IV infusion pump systems revenue indicates a strong market acceptance and possibly market share gains in this segment. The slight decrease in patient vital signs monitoring systems revenue might suggest market saturation or increased competition, warranting closer attention.
The company's focus on innovation and its unique position as the only known provider of non-magnetic IV infusion pump systems and patient vital signs monitoring systems for MRI procedures gives it a competitive edge. This specialization likely contributes to its high gross profit margins, which improved to
The ongoing construction of a new facility in Orlando suggests that IRADIMED is investing in expanding its production capabilities, which could lead to economies of scale and potentially even higher margins in the future. However, investors should monitor the impact of this
Overall, IRADIMED's performance indicates a strong market position in a specialized medical device niche, with potential for continued growth as MRI technology becomes increasingly prevalent in healthcare settings.
- Reports record revenue of
$17.9 million for the second quarter of 2024, an increase of 11.2 percent over the comparable period 2023. - Reports GAAP diluted EPS of
$0.38 and non-GAAP diluted EPS of$0.42 for the second quarter of 2024. - Reports second quarter of 2024 operating income of
$5.6 million , an increase of 13.4 percent compared to the comparable period of 2023. - Declares a regular quarterly cash dividend of
$0.15 per common share for the third quarter of 2024, payable on August 30, 2024.
WINTER SPRINGS, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (the “Company”) (NASDAQ: IRMD) announced today its financial results for the three and six months ended June 30, 2024. The Company is a leader in the development of innovative magnetic resonance imaging (“MRI”) medical devices and the only known provider of a non-magnetic intravenous (“IV”) infusion pump system, and non-magnetic patient vital signs monitoring systems that are designed for use during MRI procedures.
"I am proud to share that we have achieved our highest-ever revenue for the twelfth consecutive quarter. This impressive performance was driven by the remarkable growth of our IV infusion pump product line, with the strong bookings and backlog in the first quarter continuing into the second quarter. Additionally, the continued strength in our gross margin contributed to a 13.4 percent year-over-year increase in our operating income. These results reflect the commitment and dedication of our team, and I am confident that our momentum will continue to drive further success in the second half of 2024," said Roger Susi, President and Chief Executive Officer of the Company.
“Looking ahead to the year's second half, we are confident in maintaining our strong financial performance. For the third quarter of 2024, we anticipate revenue of
The Company’s Board of Directors declared a regular quarterly cash dividend of
Three Months Ended June 30, 2024
For the three months ended June 30, 2024, the Company reported revenue of
Non-GAAP net income increased
Six Months Ended June 30, 2024
For the six months ended June 30, 2024, the Company reported revenue of
Non-GAAP net income was
Revenue Information:
| Three Months Ended | Six Months Ended | ||||||||||
| June 30, | June 30, | ||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||
| (unaudited) | (unaudited) | ||||||||||
| Devices: | |||||||||||
| MRI Compatible IV Infusion Pump Systems | $ | 6,881,199 | $ | 4,522,568 | $ | 12,073,879 | $ | 10,061,383 | |||
| MRI Compatible Patient Vital Signs Monitoring Systems | 5,450,224 | 6,128,718 | 11,911,882 | 10,825,536 | |||||||
| Ferro Magnetic Detection Systems | 366,402 | 183,190 | 616,102 | 480,779 | |||||||
| Total Devices revenue | 12,697,825 | 10,834,476 | 24,601,863 | 21,367,698 | |||||||
| Disposables, services and other | 4,662,863 | 4,815,870 | 9,869,813 | 9,250,612 | |||||||
| Amortization of extended warranty agreements | 568,188 | 480,050 | 1,055,319 | 987,170 | |||||||
| Total revenue | $ | 17,928,876 | $ | 16,130,396 | $ | 35,526,995 | $ | 31,605,480 | |||
For the three months ended June 30, 2024, domestic sales were 86.6 percent of total revenue, compared to 80.1 percent for the comparable period of 2023. The gross profit margin was 78.1 percent for the three months ended June 30, 2024, compared to 75.5 percent for the comparable period of 2023.
For the six months ended June 30, 2024, domestic sales were 81.4 percent of total revenue, compared to 78.8 percent for the six months ended June 30, 2023. The gross profit margin was 77.1 percent for six months ended June 30, 2024, compared to 75.6 percent for the same period in 2023.
Cash Flow from Operations
For the three months ended June 30, 2024, cash flow from operations was
As construction continues on the Company’s new facility in Orlando, Florida, the Company anticipates spending approximately
Financial Guidance
For the third quarter of 2024, the Company expects to report revenue of
The Company’s non-GAAP diluted earnings per share guidance excludes stock-based compensation expense, net of tax expense, which the Company expects stock-based compensation, net of tax expense, to be approximately
Use of non-GAAP Financial Measures
The Company believes using non-GAAP net income, earnings per share, and free cash flow is helpful to our investors. These measures, which we refer to as our non-GAAP financial measures, are not prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.
We calculate non-GAAP net income as net income excluding:
(1) Stock-based compensation expense, net of tax. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash expenses, we believe that providing non-GAAP financial measures that exclude stock-based compensation expense allows for meaningful comparisons between our operating results from period to period;
(2) Operating expenses, net of tax, that we believe are not indicative of the Company’s ongoing core operating performance and;
(3) Infrequent income tax items are considered based on their nature and are excluded from the provision for income taxes as these costs or benefits are not indicative of our normal or future provision for income taxes.
We calculate free cash flow as net cash provided by operating activities, less net cash used in investing activities for the development of internal software and purchases of property and equipment.
We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by our business that can be used for strategic opportunities, including investing in our business, making strategic acquisitions, strengthening our balance sheet and returning cash to our stockholders through various means.
Our non-GAAP financial measures are important tools for financial and operational decision-making and for evaluating our ongoing core operating results.
A reconciliation of the non-GAAP financial measures used in this release to the most comparable GAAP measures for the respective periods can be found in the table later in this release immediately following the condensed statements of operations. These non-GAAP financial measures should not be considered in isolation or as a substitute for a measure of the Company’s operating performance or liquidity prepared in accordance with GAAP and are not indicative of net income or cash provided by operating activities.
Conference Call
The Company has scheduled a conference call to discuss this release beginning at 12:00 p.m. Eastern Time today, August 1, 2024. Individuals interested in listening to the conference call may do so by registering here, https://register.vevent.com/register/BIa6da8f185c0d4199a6c370fbe9fba158. Once registered a dial-in number, a unique PIN, and instructions will be provided to participants.
The conference call will also be available in real-time via the Internet at http://www.iradimed.com/en-us/investors/events/. A recording of the call will be available on the Company’s website following the call's completion.
About IRADIMED CORPORATION
IRADIMED CORPORATION is a leader in developing innovative Magnetic Resonance Imaging (“MRI”) compatible medical devices. We design, manufacture, market, and distribute MRI-compatible medical devices and accessories, disposables, and related services.
We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components that can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump system has a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts, and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution provides a seamless approach that enables accurate, safe, and dependable fluid delivery before, during, and after an MRI scan, which is important to critically ill patients who cannot be removed from their vital medications and children and infants who must generally be sedated to remain immobile during an MRI scan.
Our 3880 MRI-compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The Iradimed 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The Iradimed 3880 has a compact, lightweight design, allowing it to travel with the patient from their critical care unit to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the Iradimed 3880 include wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature; and optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The Iradimed 3880 MRI-compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians.
For more information, please visit www.iradimed.com.
Forward-Looking Statements
This release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, that address activities that the Company assumes, plans, expects, believes, intends, projects, indicates, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements, including statements relating financial guidance, future quarterly cash dividends, construction costs for the Company’s new facility in Orlando, Florida, and the Company’s strategic plans, objectives, and intentions. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events. The forward-looking statements involve risks and uncertainties, including, among others, that our business plans may change as circumstances warrant.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made, which reflect management’s current estimates, projections, expectations, or beliefs, and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to; potential disruptions in our limited supply chain for our products; the Company’s ability to receive U.S. Food and Drug Administration (“FDA”) 510(k) clearance for new products and product candidates; unexpected costs, delays or diversion of management’s attention associated with the design, manufacturing or sale of new products; the Company’s ability to implement successful sales techniques for existing and future products and evaluate the effectiveness of its sales techniques; additional actions, warnings or requests from the FDA or other regulatory bodies; our significant reliance on a limited number of products; a reduction in international distribution; actions of the FDA or other regulatory bodies that could delay, limit or suspend product development, manufacturing or sales; the effect of recalls, patient adverse events or deaths on our business; difficulties or delays in the development, production, manufacturing and marketing of new or existing products and services; and changes in laws and regulations or in the interpretation or application of laws or regulations. Additional factors which could affect the forward-looking statements can be found in the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC’s website at http://www.sec.gov. All forward-looking statements are based on information available to us on the date hereof, and we assume no obligation to update forward-looking statements.
| IRADIMED CORPORATION CONDENSED BALANCE SHEETS | |||||
| June 30, | December 31, | ||||
| 2024 | 2023 | ||||
| (unaudited) | (audited) | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 48,535,140 | $ | 49,762,198 | |
| Other current assets | 25,043,094 | 26,238,914 | |||
| Total current assets | 73,578,234 | 76,001,112 | |||
| Property and equipment, net | 10,472,670 | 9,288,625 | |||
| Other assets | 5,898,443 | 6,866,361 | |||
| Total assets | $ | 89,949,347 | $ | 92,156,098 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Accounts Payable | $ | 1,121,180 | $ | 1,857,091 | |
| Deferred revenue | 2,537,402 | 2,570,407 | |||
| Dividend payable | — | 7,975,997 | |||
| Other current liabilities | 3,799,711 | 3,923,811 | |||
| Total current liabilities | 7,458,293 | 16,327,306 | |||
| Deferred revenue, non-current | 2,815,334 | 2,793,548 | |||
| Operating lease liability, non-current | 4,231 | 1,615,080 | |||
| Total liabilities | 10,277,858 | 20,735,934 | |||
| Stockholders’ equity: | |||||
| Total stockholders’ equity | 79,671,489 | 71,420,164 | |||
| Total liabilities and stockholders’ equity | $ | 89,949,347 | $ | 92,156,098 | |
| IRADIMED CORPORATION CONDENSED STATEMENTS OF OPERATIONS (Unaudited) | |||||||||||
| For the Three Months Ended | For the Six Months Ended | ||||||||||
| June 30, | June 30, | ||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||
| Revenue | $ | 17,928,876 | $ | 16,130,396 | $ | 35,526,995 | $ | 31,605,480 | |||
| Cost of revenue | 3,919,283 | 3,943,904 | 8,129,679 | 7,697,535 | |||||||
| Gross profit | 14,009,593 | 12,186,492 | 27,397,316 | 23,907,945 | |||||||
| Operating expenses: | |||||||||||
| General and administrative | 4,104,961 | 3,313,080 | 8,096,172 | 7,233,591 | |||||||
| Sales and marketing | 3,476,460 | 2,948,425 | 7,303,625 | 5,948,403 | |||||||
| Research and development | 801,129 | 961,952 | 1,622,129 | 1,755,666 | |||||||
| Total operating expenses | 8,382,550 | 7,223,457 | 17,021,926 | 14,937,660 | |||||||
| Income from operations | 5,627,043 | 4,963,035 | 10,375,390 | 8,970,285 | |||||||
| Other income, net | 642,217 | 335,387 | 1,137,371 | 677,796 | |||||||
| Income before provision for income taxes | 6,269,260 | 5,298,422 | 11,512,761 | 9,648,081 | |||||||
| Provision for income tax expense | 1,368,036 | 1,118,582 | 2,475,004 | 2,062,171 | |||||||
| Net income | $ | 4,901,224 | $ | 4,179,840 | $ | 9,037,757 | $ | 7,585,910 | |||
| Net income per share: | |||||||||||
| Basic | $ | 0.39 | $ | 0.33 | $ | 0.71 | $ | 0.60 | |||
| Diluted | $ | 0.38 | $ | 0.33 | $ | 0.71 | $ | 0.60 | |||
| Weighted average shares outstanding: | |||||||||||
| Basic | 12,664,920 | 12,596,032 | 12,663,723 | 12,594,541 | |||||||
| Diluted | 12,757,996 | 12,723,017 | 12,753,932 | 12,706,608 | |||||||
| IRADIMED CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) Non-GAAP Net Income and Diluted EPS | |||||||||||
| Three Months Ended | Six Months Ended | ||||||||||
| June 30, | June 30, | ||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||
| Net income | $ | 4,901,224 | $ | 4,179,840 | $ | 9,037,757 | $ | 7,585,910 | |||
| Excluding: | |||||||||||
| Stock-based compensation expense, net of tax expense | 481,186 | 443,426 | 977,812 | 859,698 | |||||||
| Non-GAAP net income | $ | 5,382,410 | $ | 4,623,266 | $ | 10,015,569 | $ | 8,445,608 | |||
| Weighted-average shares outstanding – diluted | 12,757,996 | 12,723,017 | 12,753,932 | 12,706,608 | |||||||
| Non-GAAP net income per share – diluted | $ | 0.42 | $ | 0.36 | $ | 0.79 | $ | 0.66 | |||
| Non-GAAP Free Cash Flow | ||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||
| June 30, | June 30, | |||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||
| Net cash provided by operating activities | $ | 6,638,527 | $ | 3,513,756 | $ | 10,521,680 | $ | 8,159,848 | ||||
| Less: | ||||||||||||
| Capital Expenditures | 1,269,770 | 378,314 | 1,748,573 | 6,935,328 | 1 | |||||||
| Free cash flow | $ | 5,368,757 | $ | 3,135,442 | $ | 8,773,107 | $ | 1,224,520 | ||||
| 1 Capital expenditures include the land acquisition of | ||||||||||||
Media Contact:
IRADIMED CORPORATION
(407) 677-8022
InvestorRelations@iradimed.com
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