IRadimed Corporation (NASDAQ:IRMD) Q4 2022 Earnings Conference Call February 2, 2023 11:00 AM ET Company Participants Roger Susi - President & CEO Jack Glenn – CFO Conference Call Participants Scott Henry - ROTH Capital Operator Ladies and gentlemen, welcome to IRadimed Corporation Fourth Quarter and Full Year 2022 Financial Results Conference Call. Currently, all participants are in a listen-only mode. And at the end of the call, we will conduct a question-and-answer session. As a reminder, this call is be ...

Financial Data and Key Metrics Changes - In Q3 2022, revenue reached $13.4 million, a 23% increase compared to Q3 2021 [6][12] - GAAP diluted earnings per share were $0.27, representing a 35% increase from Q3 2021 [6][16] - Gross margin improved to 78.6% from 77.1% in the previous year [14] - Operating expenses were $6.4 million, or 47.8% of revenue, down from 48.6% in Q3 2021 [14] Business Line Data and Key Metrics Changes - Device revenue increased by 32.2% to $9.4 million, driven by a 46% increase in monitor revenue [12] - Revenue from disposables and services rose by 5.3% to $3.4 million [14] - The average selling price of the MRI compatible IV infusion pump system decreased to approximately $30,000 from $33,000 in Q3 2021 [13] Market Data and Key Metrics Changes - Domestic sales increased by 24.6% to $10.8 million, while international sales rose by 16.4% to $2.6 million [12] - Domestic revenue accounted for 80.6% of total revenue in Q3 2022, up from 79.6% in Q3 2021 [12] Company Strategy and Development Direction - The company plans to expand operations with a new facility expected to be three times the current size, targeted for late 2024 [18] - Management expressed confidence in continued strong demand for products, indicating a positive outlook for future quarters [5] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing supply risks but noted successful mitigation strategies [6] - The company remains optimistic about achieving its revenue guidance for the year, with Q4 revenue expected between $14.1 million and $14.8 million [10] Other Important Information - The company is in the process of resubmitting a 510-K application for the new 3870 IV pump after voluntarily withdrawing the previous submission [8][9] - Cash from operations increased to $3.9 million from $3.4 million in the same period last year [16][17] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a lack of detailed interaction during the Q&A session [18]

For the transition period from to Commission File No.: 001-36534 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 September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 IRADIMED CORPORATION (Exact name of Registrant as specified in its charter) Delaware 73-1408526 (State or other j ...

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 Delaware 73-1408526 (State or other jurisdiction of incorporation or organization) 1025 Willa Springs Drive Winter Springs, Florida 32708 (Address of principal executive offices) (Zip Code) (407) 677-8022 (Registrant's telephone number, including area code) For the Quarterly Period Ended June 30, 2022 OR ☐ TRANSITION REP ...

IRadimed Corporation (NASDAQ:IRMD) Q2 2022 Earnings Conference Call July 29, 2022 11:00 AM ET Company Participants Roger Susi – President and Chief Executive Officer Jack Glenn – Chief Financial Officer Conference Call Participants Scott Henry – ROTH Capital Partners Operator Welcome to the IRadimed Corporation Second Quarter 2022 Financial Results Conference Call. Currently, all participants are in a listen-only mode. And at the end of the call, we will conduct a question-and-answer session. As a reminder, ...

Part I [Condensed Financial Statements](index=5&type=section&id=Item%201%20Condensed%20Financial%20Statements) This section presents the unaudited condensed financial statements for IRADIMED CORPORATION as of March 31, 2022, and for the three-month period then ended, compared with prior periods, including Balance Sheets, Statements of Operations, Comprehensive Income, Stockholders' Equity, and Cash Flows, along with accompanying notes [Condensed Balance Sheets](index=6&type=section&id=Condensed%20Balance%20Sheets) The condensed balance sheet shows total assets decreased from **$82.9 million** at year-end 2021 to **$72.4 million** as of March 31, 2022, primarily due to reduced cash and cash equivalents, while stockholders' equity declined from **$72.2 million** to **$62.5 million** largely due to dividend payments Condensed Balance Sheets (in thousands) | | March 31, 2022 (unaudited) | December 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $65,514 | $76,245 | | **Total assets** | **$72,393** | **$82,881** | | **Total current liabilities** | $6,249 | $6,823 | | **Total liabilities** | $9,845 | $10,708 | | **Total stockholders' equity** | $62,548 | $72,174 | | **Total liabilities and stockholders' equity** | **$72,393** | **$82,881** | [Condensed Statements of Operations](index=7&type=section&id=Condensed%20Statements%20of%20Operations) For the three months ended March 31, 2022, revenue increased **33.5%** to **$12.3 million**, and net income grew **79.3%** to **$2.5 million**, with diluted net income per share rising to **$0.20** from **$0.11** year-over-year Condensed Statements of Operations Highlights (in thousands, except per share data) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Revenue** | $12,311 | $9,224 | | **Gross Profit** | $9,380 | $7,062 | | **Income from Operations** | $3,075 | $1,777 | | **Net Income** | $2,487 | $1,387 | | **Diluted EPS** | $0.20 | $0.11 | [Condensed Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased from **$72.2 million** at year-end 2021 to **$62.5 million** as of March 31, 2022, primarily due to a **$12.6 million** special dividend payment partially offset by **$2.5 million** in net income - A special dividend of **$1.00 per share**, totaling **$12.6 million**, was paid during the first quarter of 2022[22](index=22&type=chunk) - Net income of **$2.5 million** partially offset the decrease in retained earnings from the dividend payment[22](index=22&type=chunk) [Condensed Statements of Cash Flows](index=10&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) For Q1 2022, net cash provided by operating activities was **$1.4 million**, while investing activities used **$0.4 million** and financing activities used **$12.6 million**, resulting in a net decrease in cash and cash equivalents of **$11.6 million** Cash Flow Summary (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $1,426 | $943 | | **Net cash used in investing activities** | $(425) | $(174) | | **Net cash used in financing activities** | $(12,555) | $(36) | | **Net (decrease) increase in cash** | $(11,553) | $733 | - The significant cash outflow in financing activities was due to a **$12.6 million** dividend payment in Q1 2022[25](index=25&type=chunk)[99](index=99&type=chunk) [Notes to Unaudited Condensed Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) The notes detail accounting policies and financial results, including revenue disaggregation by geography and product type, EPS calculations, inventory, stock-based compensation, income taxes, and lease obligations, confirming the company operates in a single segment of MRI compatible medical devices - The company operates in one reportable segment: the development, manufacture, and sale of MRI compatible medical devices and related accessories[29](index=29&type=chunk) Revenue by Geographic Region (in dollars) | Region | Q1 2022 Revenue | Q1 2021 Revenue | | :--- | :--- | :--- | | United States | $9,979,340 | $7,272,830 | | International | $2,331,370 | $1,951,166 | | **Total** | **$12,310,710** | **$9,223,996** | Revenue by Type (in dollars) | Type | Q1 2022 Revenue | Q1 2021 Revenue | | :--- | :--- | :--- | | MRI compatible IV infusion pump system | $3,281,939 | $3,503,347 | | MRI compatible patient vital signs monitoring systems | $5,194,751 | $2,603,830 | | Disposables, services and other | $3,318,902 | $2,635,466 | | Amortization of extended warranty agreements | $515,118 | $481,353 | | **Total** | **$12,310,710** | **$9,223,996** | - The effective tax rate for Q1 2022 was **18.7%**, compared to **21.7%** for Q1 2021, with a full-year 2022 expectation of approximately **23%**[54](index=54&type=chunk)[55](index=55&type=chunk)[92](index=92&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2022 financial results, highlighting a **33.5%** revenue increase to **$12.3 million** driven by a **99.5%** surge in MRI compatible patient vital signs monitoring systems sales, a slight gross profit margin decrease to **76.2%**, increased operating expenses, and a strong liquidity position with **$50.4 million** in cash and investments despite a **$12.6 million** special dividend - The company is the only known provider of a non-magnetic intravenous (IV) infusion pump system specifically designed for safe use during MRI procedures[66](index=66&type=chunk) Q1 2022 Financial Highlights vs. Q1 2021 (in millions, except per share data) | Metric | Q1 2022 | Q1 2021 | Change | | :--- | :--- | :--- | :--- | | Revenue | $12.3 | $9.2 | +33.5% | | Net Income | $2.5 | $1.4 | +79.3% | | Diluted EPS | $0.20 | $0.11 | +81.8% | - Revenue from MRI compatible patient vital signs monitoring systems nearly doubled, increasing **99.5%** to **$5.2 million** in Q1 2022 from **$2.6 million** in Q1 2021[79](index=79&type=chunk) - The average selling price (ASP) of the patient vital signs monitoring system increased to approximately **$46,800** in Q1 2022 from **$38,300** in Q1 2021, driven by higher domestic sales and price increases[84](index=84&type=chunk) - Gross profit margin slightly decreased to **76.2%** in Q1 2022 from **76.6%** in Q1 2021, primarily due to unfavorable labor and overhead expenses[86](index=86&type=chunk) - The company paid a special dividend of **$12.6 million** to shareholders during the quarter ended March 31, 2022[95](index=95&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company identifies foreign currency exchange risk, primarily from Japanese Yen costs, and interest rate risk from corporate bonds, with a **10%** Yen change or **100 basis point** interest rate change deemed immaterial to net income or fair value, respectively - The company faces foreign currency risk from Japanese Yen-denominated costs, with a hypothetical **10%** change in the Yen exchange rate having an immaterial impact on net income[106](index=106&type=chunk) - Interest rate risk is associated with **$0.5 million** in corporate bonds, where a **100 basis point** change in interest rates is expected to have an immaterial effect on their fair value[108](index=108&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of March 31, 2022, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Controller and Interim Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2022[110](index=110&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the first quarter of 2022[111](index=111&type=chunk) Part II [Legal Proceedings](index=30&type=section&id=Item%201%20Legal%20Proceedings) The company anticipates potential legal proceedings in the ordinary course of business but believes the resolution of any known matters will not materially affect its financial results or position - Management believes that the resolution of any currently known legal matters will not have a material effect on the company's results of operations or financial position[114](index=114&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 - No material changes to the risk factors disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021, have occurred[115](index=115&type=chunk) [Unregistered Sale of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202%20Unregistered%20Sale%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[116](index=116&type=chunk) [Exhibits](index=31&type=section&id=Item%206%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL interactive data files - Exhibits filed include CEO and CFO certifications (31.1, 31.2, 32.1) and XBRL data files (101 series)[121](index=121&type=chunk)

IRadimed Corporation (NASDAQ:IRMD) Q1 2022 Earnings Conference Call April 29, 2022 11:00 AM ET Company Participants Roger Susi – President and Chief Executive Officer Matt Garner – Controller Conference Call Participants Scott Henry – ROTH Capital Lisa Springer – Singular Research Operator Welcome to the IRadimed Corporation First Quarter 2022 Financial Results Conference Call. Currently, all participants are in a listen-only mode. And at the end of the call, we will conduct a question-and-answer session. A ...

Company Overview - IRadimed is the world's only non-magnetic MRI patient care technology company[4] - The company's products include non-magnetic IV infusion pump systems and patient monitors[7] - IRadimed holds the number 2 market position in its sector[7] Market and Growth - The company targets a $3.1 billion capital and consumables market, including $1.4 billion for IV pumps, $1.1 billion for monitors, and $0.6 billion for ferromagnetic detectors[10] - Channel expansion, particularly in U S ambulatory imaging centers, presents a 3X revenue growth opportunity within 5 years (based on 2019 revenue)[12] - The company aims to fuel market penetration by accelerating hospital MRI pump adoption and gaining share in MRI monitor replacements[11] Financial Performance - The company's revenue for 2021 was $41.8 million[19] - Revenue is projected to be between $51.4 million and $52.2 million in 2022[19, 20] - Adjusted EPS is projected to be between $0.91 and $1.01 in 2022[18, 20] - The company has a strong financial profile with 77% gross margins[19] - As of December 31, 2021, the company had 6,062 IV pumps and 1,138 monitors[16] - As of December 31, 2022, the company had $62.5 million in cash and investments[21] MRI Safety and Risks - MRI adverse events are trending up, with a 600% increase reported to the FDA[4] - Mechanical issues account for 58% of FDA reported MRI adverse event types[5] - Projectile incidents account for 11% of FDA reported MRI adverse event types[5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 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 jurisdictio ...

IRadimed Corporation (NASDAQ:IRMD) Q4 2021 Earnings Conference Call February 4, 2022 11:00 AM ET Company Participants Roger Susi – President and Chief Executive Officer Chris Scott – Chief Financial Officer Conference Call Participants Scott Henry – ROTH Capital Lisa Springer – Singular Research Operator Welcome to the IRadimed Corporation, Fourth Quarter 2021 Financial Results Conference Call. Currently, all participants are in a listen-only mode. And at the end of the call we will conduct a question-and-a ...