Welcome to our dedicated page for Iradimed news (Ticker: IRMD), a resource for investors and traders seeking the latest updates and insights on Iradimed stock.
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) 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.
IRADIMED reported record revenue of $17.6 million, GAAP diluted EPS of $0.32, and non-GAAP diluted EPS of $0.36 for the first quarter of 2024. The company also declared a regular quarterly cash dividend of $0.15 per share for the second quarter of 2024. The financial results showed an increase in operating income by 18.5% compared to the same period in 2023. The company anticipates strong financial performance for the second quarter and full year of 2024.
FAQ
What is the current stock price of Iradimed (IRMD)?
What is the market cap of Iradimed (IRMD)?
What does IRADIMED CORPORATION specialize in?
Where is IRADIMED CORPORATION headquartered?
What is IRADIMED’s flagship product?
How does IRADIMED distribute its products?
What are the financial highlights of IRADIMED for the third quarter of 2023?
What are IRADIMED’s revenue projections for 2024?
What recent recognition has IRADIMED received?
What is the IRADIMED 3880 system?
How does the MRidium® IV infusion pump enhance MRI procedures?
What markets does IRADIMED serve?
