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

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 $0.15 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 $78.0 million and $82.0 million, with GAAP diluted earnings per share projected between $1.55 and $1.65 [3][14] Financial Performance - For Q4 2024, the company reported revenue of $19.4 million, an increase of 11% from $17.5 million in Q4 2023, and net income of $5.1 million, up 13% from $4.5 million in the same period last year [5][8] - For the full year 2024, total revenue reached $73.2 million, a 12% increase from $65.6 million in 2023, with net income also rising by 12% to $19.2 million [7][9] - Non-GAAP net income for Q4 2024 was $5.7 million, a 14% increase from $5.0 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 $7.57 million, up from $5.64 million in Q4 2023, while revenue from MRI-compatible patient vital signs monitoring systems was $6.57 million, slightly down from $6.85 million [10] - For the full year 2024, the revenue from IV infusion pump systems was $26.6 million, compared to $19.6 million in 2023, while monitoring systems generated $24.4 million, down from $25.4 million [10][11] Cash Flow and Investments - Cash flow from operations for Q4 2024 was $6.0 million, a 54% increase from $3.9 million in Q4 2023, and for the full year, it was $25.6 million, a 90% increase from $13.5 million [12][12] - The company is investing approximately $5.5 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 $19.4 million, with GAAP diluted earnings per share expected to be between $0.35 and $0.39 [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]