Welcome to our dedicated page for iRadimed Corporation news (Ticker: IRMD), a resource for investors and traders seeking the latest updates and insights on iRadimed Corporation 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) has appointed John (Jack) Glenn as its new Chief Financial Officer, effective on or before June 20, 2022. With over 30 years of experience in corporate finance, Glenn's expertise includes roles at Esko Bionics and Sonendo, as well as a strong background in the medical device sector. The company, recognized for its innovative MRI-compatible medical devices, aims to leverage Glenn's strategic financial management to support its ongoing growth trajectory, as stated by CEO Roger Susi.
IRADIMED CORPORATION (NASDAQ: IRMD) reported strong first-quarter 2022 results with revenue of $12.3 million, a significant increase from $9.2 million in Q1 2021. GAAP diluted earnings per share (EPS) reached $0.20, while non-GAAP diluted EPS was $0.22. The company announced a full-year revenue guidance increase to $52.5 million to $53.2 million and non-GAAP EPS guidance of $0.96 to $1.03. Domestic sales accounted for 81.1% of total revenue, indicating strong market demand. A special dividend of $1.00 per share was also declared.
IRADIMED CORPORATION (NASDAQ: IRMD) announced the resignation of Chris Scott, the Chief Financial and Operating Officer, effective May 27, 2022. Scott has been with the company since December 2013 and is leaving to pursue other opportunities. Matt Garner, the Controller, will take on the role of interim CFO during the transition. CEO Roger Susi expressed gratitude for Scott's contributions over the years and confidence in Garner's ability to lead the finance department. A formal search for a new CFO is underway.
IRADIMED CORPORATION (NASDAQ: IRMD) announced it will release its 2022 Q1 financial results on April 29, 2022, before the market opens. A conference call will follow at 11:00 a.m. ET to discuss the results and address questions. Interested participants can dial in or join via the company’s website. IRADIMED specializes in MRI-compatible medical devices, including the MRidium® IV infusion pump and the 3880 vital signs monitoring system, both designed to enhance safety during MRI procedures.
IRADIMED CORPORATION (NASDAQ: IRMD) has announced a special cash dividend of $1.00 per share, payable on February 24, 2022, to shareholders of record by February 17, 2022. This decision reflects the company's strong financial performance, with a cash reserve of nearly $62 million at the end of 2021. The Board aims to return excess cash to its shareholders while ensuring operational and investment needs are met.
iRadimed Corporation (NASDAQ: IRMD) reported fourth-quarter 2021 revenue of $11.9 million, a 39% increase from the previous year, with net income at $3.9 million or $0.31 per diluted share. For the full year 2021, revenue reached $41.8 million, up 32%, with net income of $9.3 million or $0.74 per diluted share. The company anticipates revenue guidance for 2022 between $51.4 million and $52.2 million and GAAP EPS of $0.82 to $0.90, reflecting continued demand for its MRI-compatible devices despite supply chain challenges.
IRADIMED CORPORATION (NASDAQ: IRMD) will release its 2021 fourth quarter financial results before market opening on February 4, 2022. A conference call is scheduled for the same day at 11:00 a.m. ET to discuss these results and address questions. Interested parties can listen by dialing 1-844-413-1781 or 1-716-247-5767, entering reservation code 2899922. The call will also be streamed live online, with a recording available on the company's website for 90 days post-call.
IRADIMED CORPORATION (NASDAQ: IRMD) reported third-quarter 2021 revenue of $10.9 million, a significant increase from $7.7 million in Q3 2020. The company achieved a GAAP diluted EPS of $0.20 and a non-GAAP diluted EPS of $0.23. For the nine months ended September 30, 2021, revenue reached $29.9 million, up from $23.2 million in the same period of 2020. The company has increased its full-year guidance, anticipating revenue of $41.4 million to $41.6 million and GAAP diluted EPS of $0.60 to $0.61.
IRADIMED CORPORATION (NASDAQ: IRMD) will release its third quarter financial results for 2021 before the market opens on October 29. The management will host a conference call at 11:00 a.m. ET that same day to discuss the results and answer questions. Interested participants can dial 1-844-413-1781 for domestic calls or 1-716-247-5767 for international calls. The call will also be available via the Internet and recorded for 90 days post-call.
IRADIMED CORPORATION (NASDAQ: IRMD) reported second-quarter 2021 revenue of $9.8 million, a significant increase from $6.8 million in Q2 2020. The net income reached $1.5 million, or $0.12 per diluted share, compared to a net loss of $(2.1) million in the same quarter last year. Non-GAAP diluted EPS was $0.14, reflecting a positive trend in earnings. Guidance for Q3 2021 anticipates revenue between $10.3 million and $10.5 million and full-year revenue expectations of $40.0 million to $40.4 million.
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