Iradimed revenue, income jump, guidance upped

 

• Reports record revenue of $16.5 million for the third quarter of 2023.
  
  
• GAAP diluted EPS of $0.40 and non-GAAP diluted EPS of $0.43.
  
  
• Third quarter operating income of $5.9 million, an increase of 43% compared to the same period in 2022.

 IRADIMED CORPORATION (the “Company”) (NASDAQ: IRMD) announced today its financial results for the three and nine months ended September 30, 2023. The Company is a leader in the development of innovative magnetic resonance imaging (“MRI”) medical devices and the only known provider of a non-magnetic intravenous (“IV”) infusion pump system, and non-magnetic patient vital signs monitoring systems that are designed for use during MRI procedures.

"I am pleased to announce that in the third quarter of 2023, we not only achieved record revenue of $16.5 million but also demonstrated our continued commitment to profitability with a noteworthy 43% increase in operating income. This ninth consecutive quarter of record revenues was again led by our monitoring business, which grew by 40% over the second quarter of 2023. I am immensely proud of our team’s dedicated efforts in delivering these outstanding results,” said Roger Susi, President and Chief Executive Officer of the Company. “As for our guidance for the remainder of the year, we expect to report revenue of $16.9 million to $17.4 million for the fourth quarter, GAAP diluted earnings per share of $0.35 to $0.38 and non-GAAP diluted earnings per share of $0.38 to $0.41. For the full-year 2023 financial guidance, we expect revenue of $65.0 million to $65.5 million and raise our guidance for GAAP diluted earnings per share to $1.34 to $1.37 and non-GAAP diluted earnings per share to $1.48 to $1.51,” added Mr. Susi.

Iradimed has scheduled a conference call to discuss this announcement beginning at 11:00 a.m. Eastern Time today, November 3, 2023. Individuals interested in listening to the conference call may do so by registering here, https://register.vevent.com/register/BI128479408327463f9d559a793be4df6a. Once registered a dial-in number, a unique PIN, and instructions will be provided to participants.

The conference call will also be available in real-time via the Internet at http://www.iradimed.com/en-us/investors/events/. A recording of the call will be available on the Company’s website following the call's completion.

https://www.globenewswire.com/news-release/2023/11/03/2773139/32443/en/IRADIMED-CORPORATION-Announces-Third-Quarter-2023-Financial-Results.html