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IRADIMED CORPORATION Announces Fourth Quarter and Full Year of 2024 Financial Results and Increases its Regular Quarterly Cash Dividend to $0.17 Per Share from $0.15 Per Share
IRMDiRadimed(IRMD) GlobeNewswire·2025-02-13 13:30

Core Insights - IRADIMED CORPORATION reported record financial results for Q4 2024, marking the fourteenth consecutive quarter of revenue growth, driven by strong demand for its MRI-compatible IV infusion pumps and patient monitoring systems [2][5][8] - The company announced an increase in its quarterly cash dividend from 0.15to0.15 to 0.17 per share, reflecting its strong financial position and commitment to returning value to shareholders [2][4] - For 2025, the company expects revenue between 78.0millionand78.0 million and 82.0 million, with GAAP diluted earnings per share projected between 1.55and1.55 and 1.65 [3][14] Financial Performance - For Q4 2024, the company reported revenue of 19.4million,anincreaseof1119.4 million, an increase of 11% from 17.5 million in Q4 2023, and net income of 5.1million,up135.1 million, up 13% from 4.5 million in the same period last year [5][8] - For the full year 2024, total revenue reached 73.2million,a1273.2 million, a 12% increase from 65.6 million in 2023, with net income also rising by 12% to 19.2million[7][9]−Non−GAAPnetincomeforQ42024was19.2 million [7][9] - Non-GAAP net income for Q4 2024 was 5.7 million, a 14% increase from 5.0millioninQ42023,withnon−GAAPdilutedearningspershareat5.0 million in Q4 2023, with non-GAAP diluted earnings per share at 0.44, up 13% [6][40] Revenue Breakdown - In Q4 2024, the revenue from MRI-compatible IV infusion pump systems was 7.57million,upfrom7.57 million, up from 5.64 million in Q4 2023, while revenue from MRI-compatible patient vital signs monitoring systems was 6.57million,slightlydownfrom6.57 million, slightly down from 6.85 million [10] - For the full year 2024, the revenue from IV infusion pump systems was 26.6million,comparedto26.6 million, compared to 19.6 million in 2023, while monitoring systems generated 24.4million,downfrom24.4 million, down from 25.4 million [10][11] Cash Flow and Investments - Cash flow from operations for Q4 2024 was 6.0million,a546.0 million, a 54% increase from 3.9 million in Q4 2023, and for the full year, it was 25.6million,a9025.6 million, a 90% increase from 13.5 million [12][12] - The company is investing approximately 5.5millionincashin2025tocompletetheconstructionofanewfacilityinOrlando,Florida,whichisexpectedtosupportfuturegrowth[13]GuidanceandFutureOutlook−ThecompanyanticipatesrevenueforQ12025tobebetween5.5 million in cash in 2025 to complete the construction of a new facility in Orlando, Florida, which is expected to support future growth [13] Guidance and Future Outlook - The company anticipates revenue for Q1 2025 to be between 19.2 million and 19.4million,withGAAPdilutedearningspershareexpectedtobebetween19.4 million, with GAAP diluted earnings per share expected to be between 0.35 and 0.39[3][14]−Theguidancefornon−GAAPdilutedearningspersharefor2025isprojectedtobebetween0.39 [3][14] - The guidance for non-GAAP diluted earnings per share for 2025 is projected to be between 1.71 and $1.81 [14][15]