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Dec 31, 2023
IRadimed Q4 2023 Earnings Report
IRADIMED CORPORATION reported record revenue and increased operating income for the fourth quarter of 2023.
Key Takeaways
IRADIMED CORPORATION announced its financial results for the fourth quarter ended December 31, 2023, reporting a 17.4% year-over-year revenue growth to $17.5 million. The company's net income was $4.5 million, or $0.36 per diluted share, and non-GAAP net income was $5.0 million, or $0.39 per diluted share.
Reported record revenue of $17.5 million for the fourth quarter of 2023.
GAAP diluted EPS was $0.36 and non-GAAP diluted EPS was $0.39 for the fourth quarter of 2023.
Operating income was $5.2 million, an increase of 21.3%, compared to the same period in 2022.
Initiated a quarterly dividend in 2024.
Forward Guidance
The Company expects 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 for the full-year of 2024. For the first quarter of 2024, the Company expects to report revenue of $17.0 million to $17.3 million, GAAP diluted earnings per share of $0.29 to $0.31, and non-GAAP diluted earnings per share of $0.33 to $0.35.
Positive Outlook
- Revenue of $72.0 million to $74.0 million for the full year 2024.
- GAAP diluted earnings per share of $1.37 to $1.47 for the full year 2024.
- Non-GAAP diluted earnings per share of $1.52 to $1.62 for the full year 2024.
- Revenue of $17.0 million to $17.3 million for the first quarter of 2024.
- GAAP diluted earnings per share of $0.29 to $0.31 for the first quarter of 2024.
Challenges Ahead
- Non-GAAP diluted earnings per share guidance excludes stock-based compensation expense.
- Stock-based compensation, net of tax expense, is expected to be approximately $1.9 million for the full year 2024.
Historical Earnings Impact
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