Iradimed Corporation (IRMD, Financial) announced that its first-quarter revenue reached $19.5 million, marking an 11% increase compared to $17.6 million during the same period last year. The company is celebrating its fifteenth consecutive quarter of record revenue. Moreover, there was a notable 16% year-over-year increase in diluted earnings per share (EPS), reflecting the growing demand for its innovative products and the company's operational efficiency.
Iradimed is maintaining its quarterly cash dividend at $0.17 per share, reinforcing its commitment to providing value to shareholders. The company is also on schedule to complete its new manufacturing facility by July 2025, positioning itself to support anticipated growth and capitalize on the momentum built in the first quarter.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for iRadimed Corp (IRMD, Financial) is $71.00 with a high estimate of $72.00 and a low estimate of $70.00. The average target implies an upside of 32.78% from the current price of $53.47. More detailed estimate data can be found on the iRadimed Corp (IRMD) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, iRadimed Corp's (IRMD, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for iRadimed Corp (IRMD, Financial) in one year is $60.11, suggesting a upside of 12.42% from the current price of $53.47. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the iRadimed Corp (IRMD) Summary page.
IRMD Key Business Developments
Release Date: February 13, 2025
- Revenue: $19.4 million for Q4 2024, an 11% increase from Q4 2023; $73.2 million for fiscal year 2024, a 12% increase from 2023.
- Gross Margin: 76.1% for Q4 2024, slightly down from 76.9% in Q4 2023; 76.9% for fiscal year 2024, up from 76.5% in 2023.
- Domestic Sales: Increased 21% to $16.5 million in Q4 2024.
- International Sales: Decreased 24% to $2.9 million in Q4 2024.
- Device Revenue: Increased 12% to $14.3 million in Q4 2024; 13% to $52 million for fiscal year 2024.
- Pump Revenue: Increased 34% in Q4 2024; 36% for fiscal year 2024.
- Operating Expenses: $9 million or 46% of revenue for Q4 2024; $34 million or 47% of revenue for fiscal year 2024.
- Operating Income: $5.8 million for Q4 2024; $22 million for fiscal year 2024.
- Net Income (GAAP): $0.40 per diluted share for Q4 2024; $1.50 per diluted share for fiscal year 2024.
- Net Income (Non-GAAP): $0.44 per diluted share for Q4 2024; $1.66 per diluted share for fiscal year 2024.
- Cash from Operations: $6 million for Q4 2024, up from $3.9 million in Q4 2023.
- Free Cash Flow: $2.9 million for Q4 2024, down from $3.3 million in Q4 2023.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- iRadimed Corp (IRMD, Financial) reported a record quarter with revenue exceeding $19.4 million, marking the 14th consecutive record quarter.
- Gross profit was strong at 76.1%, with GAAP diluted earnings per share increasing by 11% from Q4 2023.
- Domestic sales increased by 21% to $16.5 million, accounting for 85% of total revenue for Q4 2024.
- The company has a strong backlog entering 2025, providing good visibility for the first half of the year.
- The new facility construction is progressing well, with completion expected by June, which will support future growth.
Negative Points
- International sales decreased by 24% to $2.9 million, indicating challenges in global markets.
- The gross margin for Q4 2024 was slightly below the previous year's quarter, at 76.1% compared to 76.9%.
- Operating expenses increased to $9 million, driven by higher sales and marketing expenses.
- Free cash flow decreased to $2.9 million from $3.3 million in the same period in 2023, due to ongoing capital expenditures.
- The company faces potential delays in FDA clearance for the new pump, which could impact revenue projections for 2025.
