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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 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.
IRADIMED CORPORATION (NASDAQ: IRMD) will release its 2021 second quarter financial results on July 30, 2021, before market opening. Management will host a conference call at 11:00 a.m. ET to discuss these results and answer questions. Interested participants can join by calling 1-844-413-1781 domestically or 1-716-247-5767 internationally, using reservation code 7590809. The call will also be available online with a recording accessible for 90 days post-call. IRADIMED is a leader in MRI-compatible medical devices, particularly known for its MRidium IV infusion pump and 3880 monitoring system.
Iradimed Corporation (NASDAQ: IRMD) reported Q1 2021 revenue of $9.2 million, up from $8.7 million in Q1 2020. GAAP diluted EPS was $0.11 compared to $0.14 the previous year, primarily due to a $0.4 million tax expense. Non-GAAP diluted EPS was $0.13, down from $0.18. The company noted a 32% increase in IV pump revenue and 112% growth in income before taxes. Cash and investments totaled $52.7 million as of March 31, 2021. Iradimed refrained from providing financial guidance due to ongoing COVID-19 uncertainties.
IRADIMED CORPORATION (NASDAQ: IRMD) will release its Q1 2021 financial results on April 30, 2021, before market open. A conference call will follow at 11:00 a.m. ET for management to discuss these results and answer questions. Interested parties can listen by calling 1-844-413-1781 domestically or 1-716-247-5767 internationally, using reservation code 8386999. The call will also be streamed online and a recording will be available on the company’s website for 90 days post-call.
IRADIMED CORPORATION (NASDAQ: IRMD) reported fourth quarter 2020 revenue of $8.5 million, a decline from $10.9 million in Q4 2019. The company's GAAP diluted EPS was $0.05, down from $0.26 year-over-year. Non-GAAP diluted EPS was $0.07, compared to $0.30 in 2019. Total revenue for 2020 was $31.7 million, a decrease from $38.5 million in 2019. As of December 31, 2020, cash and investments totaled $52.0 million. The company remains cautious about the first half of 2021 due to ongoing uncertainties related to COVID-19.
IRADIMED CORPORATION (NASDAQ: IRMD) is set to release its Q4 2020 financial results on February 4, before market opens. A conference call will follow at 11:00 AM ET to discuss results and answer questions. Interested parties can join via phone or listen online. The company specializes in MRI-compatible medical devices, including the patented MRidium® IV infusion pump and the 3880 vital signs monitoring system, both designed to enhance patient safety during MRI procedures.
iRadimed Corporation (NASDAQ: IRMD) reported Q3 2020 revenue of $7.7 million, down from $10.0 million in Q3 2019. Net income fell to $1.1 million or $0.09 per diluted share, compared to $2.5 million or $0.20 for Q3 2019. For the first nine months, revenue declined to $23.2 million from $27.6 million in 2019, with net income of $0.7 million or $0.06 per diluted share. The company held $49.9 million in cash and investments as of September 30, 2020. Financial guidance remains unavailable due to uncertainties from the COVID-19 pandemic.
IRADIMED CORPORATION (NASDAQ: IRMD) will disclose its 2020 third-quarter financial results on October 30, before market opening. Management will host a conference call at 11:00 a.m. ET to discuss the results and address queries. Interested parties can join the call by dialing designated numbers or listen online. IRADIMED specializes in MRI-compatible medical devices, being the sole provider of a non-magnetic IV infusion pump system, which ensures safety during MRI procedures, particularly for critically ill patients and children.
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