Iradimed Corp ( (IRMD) ) has released its Q3 earnings. Here is a breakdown of the information Iradimed Corp presented to its investors.
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Iradimed Corporation, a leader in the development of innovative MRI-compatible medical devices, reported its financial results for the third quarter of 2024, showcasing record-breaking revenues and strategic advancements.
The company announced a record revenue of $18.3 million for the third quarter of 2024, marking an 11% increase compared to the same period in 2023. Additionally, Iradimed declared a quarterly cash dividend of $0.15 per share, highlighting its robust financial position and commitment to shareholder returns.
Key performance metrics include GAAP diluted earnings per share of $0.40 and Non-GAAP diluted earnings per share of $0.43 for the quarter. Moreover, the company raised its year-end guidance for both GAAP and Non-GAAP EPS, indicating a positive outlook for its financial performance. The domestic sales constituted 83% of total revenue with a gross profit margin of 77.4%.
Iradimed’s strong domestic performance in IV infusion pumps contributed significantly to its quarterly success, while management expressed confidence in maintaining this momentum into the fourth quarter. The company anticipates fourth-quarter revenue between $18.8 million and $19.2 million, with corresponding earnings per share projections reflecting steady growth.
Looking ahead, Iradimed Corporation aims to sustain its growth trajectory by leveraging its unique product offerings in the MRI-compatible medical devices market, as well as continuing to provide regular dividends, subject to business conditions and board approval.
