Business
IRADIMED CORPORATION Announces Third Quarter 2021 Financial Results
Reports third quarter 2021 revenue of $10.9 million, GAAP diluted EPS of $0.20 and non-GAAP diluted EPS of $0.23Increases full-year 2021 financial guidance
About this update from Iradimed Corporation
[{"type":"text","content":"Reports third quarter 2021 revenue of $10.9 million, GAAP diluted EPS of $0.20 and non-GAAP diluted EPS of $0.23Increases full-year 2021 financial guidance WINTER SPRINGS, Fla., Oct. 29, 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 nine months ended September 30, 2021. “I am pleased with these financial results and continue to be proud of our performance and resiliency in an everchanging environment marked by the continued uncertainties of COVID. With these financial results, we are on pace to post approximately 8 percent revenue growth over the pre-COVID 2019 year as well as achieve the highest full-year revenue in Iradimed’s history,” said Roger Susi, President and Chief Executive Officer of the Company. Three Months Ended September 30, 2021 For the third quarter ended September 30, 2021, the Company reported revenue of $10.9 million compared to $7.7 million for the third quarter 2020. Net income was $2.6 million, or $0.20 per diluted share, compared to $1.1 million, or $0.09 per diluted share for the third quarter 2020. The increase in net income and diluted earnings per share is primarily the result of a $3.2 million increase in revenue for the third quarter 2021. Non-GAAP net income was $2.8 million, or $0.23 per diluted share, for the quarter ended September 30, 2021, and excludes $0.3 million of stock compensation expense, net of tax expense. Non-GAAP net income for the quarter ended September 30, 2020 was $1.4 million, or $0.11 per diluted share, and excludes $0.3 million of stock compensation expense, net of tax. Nine Months Ended September 30, 2021 For the nine months ended September 30, 2021, the Company reported revenue of $29.9 million compared to $23.2 million for the same period in 2020. Net income was $5.4 million, or $0.43 per diluted share, compared to $0.7 million, or $0.06 per diluted share for the same period in 2020. The increase in net income and diluted earnings per share is primarily the result of a $6.8 million increase in revenue and a $2....