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iRadimed Corporation (IRMD-2.46%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing revenue of $73.2 million, an increase from $65.6 million in the previous year. The increase is attributed to higher sales of MRI compatible IV infusion pump systems.
Cost of revenue for the year was $16.9 million, representing 23.1% of sales, compared to 23.5% in the previous year. Gross profit increased to $56.3 million, with a margin of 76.9%.
Operating expenses were $34.4 million, up from $30.1 million, primarily due to increased sales and marketing expenses.
Net income for the year was $19.2 million, up from $17.2 million in the previous year. Basic and diluted earnings per share were $1.52 and $1.50, respectively.
Cash provided by operating activities was $25.6 million, while cash used in investing and financing activities was $8.8 million and $14.3 million, respectively.
iRadimed had a working capital of $66.2 million as of December 31, 2024. The company plans to continue investing in research and development and expanding its sales force.
The filing also details various financial agreements, including a lease amendment for its headquarters and manufacturing facility in Winter Springs, Florida.
iRadimed's board declared a regular quarterly cash dividend of $0.17 per share, payable on March 5, 2025.
The company continues to focus on expanding its market presence for MRI compatible medical devices and emphasizes the importance of innovation in its product offerings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the iRadimed Corporation annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.