IRADIMED CORPORATION. (NASDAQ:IRMD) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Roger Susi - President and Chief Executive Officer Jack Glenn - CFO Conference Call Participants Frank Takkinen - Lake Street Capital Markets Jason Wittes - ROTH Capital Partners Operator Welcome to the IRadimed Corporation Third Quarter of 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this call is being recorded today, October 31st, 2024, and contains time- ...

Revenue and Income - Revenue for the three months ended September 30, 2024, was $18,325,959, representing an increase of 11% compared to $16,504,640 for the same period in 2023[11]. - Net income for the three months ended September 30, 2024, was $5,049,491, slightly down from $5,067,180 in the same quarter of 2023[11]. - Net income for the nine months ended September 30, 2024, was $14,087,248, compared to $12,653,090 for the same period in 2023, reflecting a growth of approximately 11%[16]. - Total revenue for the nine months ended September 30, 2024, reached $53,852,954, a 12.5% increase compared to $48,110,120 for the same period in 2023[26]. - Basic net income per share remained stable at $0.40 for both the three months ended September 30, 2024, and 2023[11]. - Diluted net income per share for the nine months ended September 30, 2024, was $1.10, compared to $0.99 for the same period in 2023[32]. Expenses - Operating expenses for the three months ended September 30, 2024, totaled $8,402,586, an increase of 21% from $6,932,044 in the prior year[11]. - Total operating expenses for the nine months ended September 30, 2024, were $25,424,512, up from $21,869,704 in 2023, reflecting an increase of 16.5%[11]. - Research and development expenses increased to $639,467 for the three months ended September 30, 2024, compared to $452,555 in 2023, reflecting a rise of 41%[11]. - Sales and marketing expenses increased by $0.9 million, or 31.0%, to $3.8 million for the three months ended September 30, 2024[81]. - General and administrative expenses increased by $0.4 million, or 11.1%, to $4.0 million for the three months ended September 30, 2024[79]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period increased to $51,721,051 from $46,745,124, marking an increase of about 10%[16]. - Operating cash flow for the nine months ended September 30, 2024, was $19,637,394, significantly higher than $9,552,532 for the same period in 2023[16]. - Cash provided by operating activities increased by $10.0 million to $19.6 million for the nine months ended September 30, 2024, compared to $9.6 million for the same period in 2023[94]. - Cash used in investing activities decreased by $1.6 million to $5.8 million for the nine months ended September 30, 2024, compared to $7.4 million for the same period in 2023[95]. - Cash used in financing activities decreased by $1.5 million to $11.9 million for the nine months ended September 30, 2024, compared to approximately $13.4 million for the same period in 2023[96]. Revenue Breakdown - Revenue from the United States for the three months ended September 30, 2024, was $15,207,195, up from $13,948,368 in the same period of 2023, indicating a growth of approximately 9%[26]. - International revenue for the three months ended September 30, 2024, was $3,118,764, compared to $2,556,272 in the same period of 2023, reflecting a growth of about 22%[26]. - Revenue from sales in the U.S. increased by $1.3 million, or 9.4%, to $15.2 million for the three months ended September 30, 2024[70]. - Revenue from sales of devices increased by $1.2 million, or 10.4%, to $13.0 million for the three months ended September 30, 2024[71]. - Revenue from sales of disposables, services, and other increased by $0.5 million, or 11.9%, to $4.7 million for the three months ended September 30, 2024[72]. Stockholder Equity and Dividends - The total stockholders' equity as of September 30, 2024, was $83,432,625, an increase from $74,568,000 as of September 30, 2023[13]. - The company paid dividends of $11,776,128 during the nine months ended September 30, 2024, compared to $13,222,907 in the same period of 2023[16]. - The company declared a regular quarterly cash dividend of $0.15 per share on October 30, 2024, to be paid on November 25, 2024[53]. Future Outlook - The company anticipates continued growth in revenue driven by new product introductions and market expansion efforts[3]. - Future performance may be impacted by regulatory approvals and market acceptance of new products[3]. - The company expects higher revenue for the remainder of 2024 compared to the same period in 2023, primarily due to increased sales of medical devices and related services[63]. Inventory and Assets - Total inventory as of September 30, 2024, was $11,251,549, down from $12,821,194 at the end of 2023[34]. - Total property and equipment, net, increased to $14,155,985 as of September 30, 2024, from $9,288,625 as of December 31, 2023[36]. - The company recorded a net cash used in investing activities of $5,760,057 for the nine months ended September 30, 2024, compared to $7,374,351 in the same period of 2023[16]. Tax and Compliance - The company recorded a provision for income tax expense of $1,368,830 for the three months ended September 30, 2024, with an effective tax rate of 21.3%[42]. - The effective tax rate for the three months ended September 30, 2024, was 21.3%, compared to 20.9% for the same period in 2023[42][43]. - For the nine months ended September 30, 2024, the company recorded a provision for income tax expense of $3,843,834, with an effective tax rate of 21.4%[88].

分组1 - iRadimed reported quarterly earnings of $0.43 per share, exceeding the Zacks Consensus Estimate of $0.39 per share, with an earnings surprise of 10.26% [1] - The company achieved revenues of $18.33 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.72%, and showing an increase from $16.51 million year-over-year [2] - iRadimed has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] 分组2 - The stock has gained approximately 11.5% since the beginning of the year, while the S&P 500 has increased by 21.9%, suggesting underperformance relative to the broader market [3] - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $20.02 million, and for the current fiscal year, it is $1.61 on revenues of $73.74 million [7] - The Medical - Instruments industry, to which iRadimed belongs, is currently ranked in the top 24% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Exhibit 99.1 IRADIMED CORPORATION Announces Third Quarter of 2024 Financial Results and the Declaration of its Regular Quarterly Cash Dividend of $0.15 Per Share ● Reports record revenue of $18.3 million for the third quarter of 2024, an increase of $1.8 million or 11% over the comparable period 2023. ● Reports GAAP diluted EPS of $0.40 and Non-GAAP diluted EPS of $0.43 for the third quarter of 2024. ● Raising year end guidance on GAAP diluted earnings per share to $1.49 to $1.52 from $1.37 to $1.47, and No ...

WINTER SPRINGS, Fla., Oct. 24, 2024 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (NASDAQ: IRMD) announced today that the Company will release its 2024 third quarter financial results before the market opens on Thursday, October 31, 2024. Iradimed management will host a conference call the same day beginning at 11:00 a.m. Eastern Time to discuss those results and to answer questions. Individuals interested in participating in the conference call may do so by registering here, https://register.vevent.com/register ...

WINTER SPRINGS, Fla., Oct. 03, 2024 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION ("Iradimed") (NASDAQ: IRMD), a leading provider of innovative magnetic resonance imaging (MRI) compatible medical devices, announced today that it will participate in the 3rd Annual ROTH Healthcare Opportunities Conference. Iradimed's CFO, Jack Glenn, will host one-on-one meetings with investors at the 3rd Annual ROTH Healthcare Opportunities Conference at the Metropolitan Club in New York on October 9, 2024. About IRADIMED CORPORA ...

WINTER SPRINGS, Fla., Sept. 10, 2024 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION ("Iradimed") (NASDAQ: IRMD), a leading provider of innovative magnetic resonance imaging (MRI) compatible medical devices, announced today that the Company will be participating in the Lake Street 8th Annual Best Ideas Growth "Big 8" Conference. Iradimed management will host one-on-one meetings between company management and investors at the Lake Street 8th Annual Best Ideas Growth "Big 8" Conference at the Yale Club in New York o ...

IRADIMED CORPORATION (NASDAQ:IRMD) Q2 2024 Results Conference Call August 1, 2024 12:00 PM ET Company Participants Roger Susi - President and Chief Executive Officer Matt Garner - Controller Conference Call Participants Frank Takkinen - Lake Street Capital Jason Wittes - ROTH Capital Partners Operator Welcome to the IRadimed Corporation Second Quarter of 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this call is being recorded today, August 1, 2024, and contains time-sensiti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No.: 001-36534 IRADIMED CORPORATION (Exact name of Registrant as specified in its charter) Delaware 73-1408526 (State or other jurisd ...

IRadimed (IRMD) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this maker of IV devices that can be used in MRI machines would post earnings of $0.34 per share when it actually produced earnings of $0.36, delivering a surprise of 5.88%. Ove ...