Business
IRADIMED CORPORATION Announces Second Quarter of 2024 Financial Results and the Declaration of its Regular Quarterly Cash Dividend of $0.15 Per Share
Reports record revenue of $17.9 million for the second quarter of 2024, an increase of 11.2 percent over the comparable period 2023.Reports GAAP diluted EPS
About this update from Iradimed Corporation
[{"type":"text","content":"Reports record revenue of $17.9 million for the second quarter of 2024, an increase of 11.2 percent over the comparable period 2023.Reports GAAP diluted EPS of $0.38 and non-GAAP diluted EPS of $0.42 for the second quarter of 2024.Reports second quarter of 2024 operating income of $5.6 million, an increase of 13.4 percent compared to the comparable period of 2023. Declares a regular quarterly cash dividend of $0.15 per common share for the third quarter of 2024, payable on August 30, 2024. WINTER SPRINGS, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (the “Company”) (NASDAQ: IRMD) announced today its financial results for the three and six months ended June 30, 2024. 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 proud to share that we have achieved our highest-ever revenue for the twelfth consecutive quarter. This impressive performance was driven by the remarkable growth of our IV infusion pump product line, with the strong bookings and backlog in the first quarter continuing into the second quarter. Additionally, the continued strength in our gross margin contributed to a 13.4 percent year-over-year increase in our operating income. These results reflect the commitment and dedication of our team, and I am confident that our momentum will continue to drive further success in the second half of 2024,\" said Roger Susi, President and Chief Executive Officer of the Company. “Looking ahead to the year's second half, we are confident in maintaining our strong financial performance. For the third quarter of 2024, we anticipate revenue of $18.0 million to $18.2 million, GAAP diluted earnings per share of $0.34 to $0.37, and non-GAAP diluted earnings per share of $0.38 to $0.41. We reiterate our guidance for the year, expecting to report revenue of $72.0 million to $74.0 million, GAAP diluted earnings per share of $1.37 to $1.47, and non-GAAP diluted earnings per share of $1.52 to $1.62,” added Mr. Susi. The Company’s Board of Directors declared a regular quarterly cash dividend of $0.15 per share of our outstanding common stock, payable on August 30, 2024, to stoc...