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Jun 30, 2022
IRadimed Q2 2022 Earnings Report
IRadimed reported record revenue and increased profitability in Q2 2022.
Key Takeaways
IRadimed Corporation announced its Q2 2022 financial results, reporting record revenue of $12.7 million, a GAAP diluted EPS of $0.26, and a non-GAAP diluted EPS of $0.26. The company's orders exceeded shipments, resulting in a strong backlog entering the second half of the year.
Reported highest ever revenue quarter and third consecutive quarter of record revenues.
Orders booked in the quarter exceeded shipments, providing a strong backlog.
Domestic sales accounted for 85.0% of total revenue.
Gross profit margin was 79.7%.
Forward Guidance
For the third quarter 2022, the Company expects to report revenue of $13.1 million to $13.3 million, GAAP diluted earnings per share of $0.21 to $0.24, and non-GAAP diluted earnings per share of $0.22 to $0.25.
Positive Outlook
- Expects revenue of $13.1 million to $13.3 million
- GAAP diluted earnings per share of $0.21 to $0.24
- Non-GAAP diluted earnings per share of $0.22 to $0.25
- Increased full year 2022 financial guidance
- Full year 2022 revenue of $52.5 million to $53.2 million
Challenges Ahead
- GAAP diluted earnings per share of $0.89 to $0.95
- Non-GAAP diluted earnings per share of $0.96 to $1.03
- Non-GAAP diluted earnings per share guidance excludes stock-based compensation expense, net of tax
- Stock-based compensation expense for the third quarter 2022 is expected to be approximately $0.3 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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