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 CORPORATION (NASDAQ: IRMD) announced that CEO Roger Susi will present at the 35th Annual Roth Conference on March 13, 2023, at 11:30 am PT in Laguna Niguel, CA. The event will feature 1-on-1 meetings, thematic panels, and presentations from around 400 companies. A live webcast and replay of the fireside chat will be available on Iradimed’s investor page. Iradimed is known for its innovative MRI-compatible medical devices, including its patented MRidium® IV infusion pump system, designed to ensure safety during MRI procedures. The company also manufactures the 3880 MRI-compatible patient vital signs monitoring system, enhancing patient care during MRI scans.
IRADIMED CORPORATION (NASDAQ: IRMD) issued an Urgent Medical Device Correction Letter regarding potential issues with the 1057 Syringe Adapter Set. This device may experience reduced flow and inlet occlusion during use with the MRidium infusion pump, impacting an estimated 0.4% of recently manufactured sets. The company received five customer complaints, none resulting in injury or death. This proactive measure is taken with FDA knowledge and does not affect other products. Importantly, IRADIMED does not anticipate any material financial impact from this corrective action.
IRADIMED CORPORATION (NASDAQ: IRMD) reported strong financial results for Q4 and full-year 2022. Revenue for Q4 reached $14.9 million, up from $11.9 million in Q4 2021, while full-year revenue was $53.3 million, compared to $41.8 million in 2021. GAAP diluted EPS for Q4 was $0.29, and $1.02 for the year. The company announced a special cash dividend of $1.05 per share, payable on February 21, 2023. For 2023, IRADIMED expects revenue between $61 million and $63 million with diluted EPS guidance of $1.10 to $1.20.
IRADIMED CORPORATION (NASDAQ: IRMD) will announce its 2022 Q4 financial results on February 2, 2023, before market opening. Following the release, management will host a conference call at 11:00 a.m. ET to discuss the results and engage with investors. Participants can register for the call and access it via a unique dial-in number provided post-registration. IRADIMED specializes in MRI-compatible medical devices, notably their MRidium® intravenous infusion pump system and the 3880 patient vital signs monitoring system, both of which enhance patient safety during MRI procedures.
IRADIMED CORPORATION (NASDAQ: IRMD) reported preliminary fourth-quarter 2022 revenue of $14.9 million, marking a 25% increase from the previous year and surpassing guidance of $14.1 million to $14.8 million. This achievement reflects six consecutive quarters of revenue growth, with full-year revenue up 27.5% year-over-year. For 2023, the company projects revenue between $61 million and $63 million and diluted earnings per share of $1.10 to $1.20. The first quarter guidance anticipates revenue of $14.6 million to $14.9 million and diluted earnings per share of $0.23 to $0.25. These results signify strong demand for their MRI-compatible medical devices.
IRADIMED CORPORATION (NASDAQ: IRMD) reported strong financial results for Q3 2022, with revenue reaching $13.4 million, a 23% increase year-over-year, and operating income of $4.1 million, up 32%. GAAP diluted EPS increased 35% to $0.27. For the first nine months, total revenue was $38.4 million, compared to $30.0 million in 2021. The company also announced plans to purchase 27 acres for future expansion in Orlando, Florida and anticipates consistent growth with stronger bookings.
IRADIMED CORPORATION (NASDAQ: IRMD) will release its 2022 third quarter financial results on November 3, 2022, before market opening. A conference call to discuss these results is scheduled for the same day at 11:00 a.m. Eastern Time. Interested participants can register for the call online.
IRADIMED specializes in innovative MRI-compatible medical devices, including its patented MRidium IV infusion pump and the IRADIMED 3880 vital signs monitoring system, both designed to optimize patient safety and care during MRI procedures.
IRADIMED CORPORATION announced preliminary financial results for Q3 2022, reporting approximately $13.4 million in revenue, a 23% increase from the prior year, surpassing guidance of $13.1 million - $13.3 million. This marks the company's highest revenue quarter and a continuation of a four-quarter trend of record revenues. However, the company voluntarily withdrew its 510(k) application for the MR IV pump due to the FDA's request for additional information, which they aim to resolve for a future resubmission.
IRADIMED CORPORATION (NASDAQ: IRMD) announced the appointment of Hilda Scharen-Guivel to its Board of Directors, effective October 4, 2022. With her extensive experience in regulatory oversight within the medical device industry, including her recent role at the FDA, her expertise is expected to be pivotal as the company develops new products. Following her appointment, the Board consists of five directors, three of whom are independent. IRADIMED specializes in MRI-compatible medical devices, and the addition of Scharen-Guivel may enhance the company’s growth trajectory.
IRADIMED CORPORATION (NASDAQ: IRMD) reported a record second quarter 2022 revenue of $12.7 million, marking a significant increase from $9.8 million in Q2 2021. Diluted GAAP EPS was $0.26, up from $0.12 year-over-year. For the six months ended June 30, revenue reached $25.0 million compared to $19.0 million in the same period in 2021. The company anticipates third-quarter guidance of $13.1 million to $13.3 million in revenue and full-year guidance of $52.5 million to $53.2 million.
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