Business
IRADIMED CORPORATION Announces Second Quarter 2021 Financial Results
Reports second quarter 2021 revenue of $9.8 million, GAAP diluted EPS of $0.12 and non-GAAP diluted EPS of $0.14Issues Q3 and full year 2021 financial
About this update from Iradimed Corporation
[{"type":"text","content":"Reports second quarter 2021 revenue of $9.8 million, GAAP diluted EPS of $0.12 and non-GAAP diluted EPS of $0.14Issues Q3 and full year 2021 financial guidance WINTER SPRINGS, Fla., July 30, 2021 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (the “Company”) (NASDAQ: IRMD), 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, today announced financial results for the three and six months ended June 30, 2021. “This quarter marks another record high in total bookings for our products, giving us confidence and optimism for the second half of 2021. Our second quarter financial results are a continuation of the growth trends we have seen over the last four quarters since the rise of COVID-19. I am very proud of our team and their resilience in overcoming the challenges of the past year. This is an exciting time in our history marked by growing demand for our unique products along with a new product cycle on the horizon, provides a strong platform for continued positive results,” said Roger Susi, President and Chief Executive Officer of the Company. Three Months Ended June 30, 2021 For the second quarter ended June 30, 2021, the Company reported revenue of $9.8 million compared to $6.8 million for the second quarter 2020. Net income was $1.5 million, or $0.12 per diluted share, compared to a net loss of $(2.1) million, or $(0.17) per diluted share for the second quarter 2020. The increase in net income and diluted earnings per share is primarily the result of a $3.0 million increase in revenue for the second quarter 2021. Additionally, during the second quarter ended June 30, 2020, the Company recognized $2.8 million of general and administrative expense related to our former CEO. Non-GAAP net income was $1.7 million for the quarter ended June 30, 2021, which excludes $0.3 million of stock compensation expense, net of tax expense. Non-GAAP net income for the quarter ended June 30, 2020 was $0.6 million, which excludes $0.3 million of on-going stock compensation expense, net of tax, and $2.4 million of expenses, net of tax, related to the separation of our former CEO. Non-GAAP earnings per diluted share was $0.14 ...