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Jun 30, 2020
IRadimed Q2 2020 Earnings Report
iRadimed's second quarter revenue was depressed due to the pandemic, but saw encouraging signs from international demand and increased ability to engage U.S. customers.
Key Takeaways
iRadimed Corporation reported a decrease in revenue for the second quarter of 2020, with a net loss due to a one-time charge from the separation of its former CEO. However, the company saw encouraging signs from international demand and increased engagement with U.S. customers.
Second quarter revenue was $6.8 million, compared to $9.2 million for the second quarter 2019.
Net loss was $(2.1) million, or $(0.17) per diluted share, compared to net income of $2.1 million, or $0.17 per diluted share for the second quarter 2019.
Non-GAAP net income was $0.6 million for the quarter ended June 30, 2020, compared to $2.4 million for the quarter ended June 30, 2019.
Free cash flow was $0.7 million for the second quarter ended June 30, 2020, compared to $2.4 million for the second quarter 2019.
Forward Guidance
Due to the high degree of uncertainty created by the global impact of COVID-19, the Company withdrew its previous guidance on April 7, 2020 and is not providing any additional financial guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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