$IRMD

IRADIMED CORP

CIK:0001325618|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 20,466	$ 20,409	$ 42,444	$ 39,920
Cost of revenue	5,306	4,454	10,471	9,122
Gross profit	15,160	15,955	31,973	30,798
Operating expenses:
General and administrative	3,866	4,280	8,435	8,891
Sales and marketing	4,246	4,010	8,298	8,186
Research and development	657	877	1,613	1,502
Total operating expenses	8,769	9,167	18,346	18,579
Income from operations	6,391	6,788	13,627	12,219
Other income, net	497	539	1,030	1,053
Income before provision for income taxes	6,888	7,327	14,657	13,272
Provision for income tax expense	1,670	1,553	3,621	2,811
Net income	$ 5,218	$ 5,774	$ 11,036	$ 10,461
Net income per share:
Basic (in dollars per share)	$ 0.41	$ 0.45	$ 0.86	$ 0.82
Diluted (in dollars per share)	$ 0.41	$ 0.45	$ 0.86	$ 0.82
Weighted average shares outstanding:
Basic (in shares)	12,784	12,716	12,783	12,715
Diluted (in shares)	12,872	12,835	12,871	12,830

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 11,036	$ 10,461
Adjustments to reconcile net income to net cash provided by operating activities:
Allowance for credit losses	(17)	(33)
Provision for excess and obsolete inventory	53	8
Depreciation & amortization	865	402
Loss on disposal of property and equipment	0	1
Stock-based compensation	1,491	1,557
Deferred income taxes, net	(269)	263
Changes in operating assets and liabilities:
Accounts receivable	492	(333)
Inventory	(1,049)	(871)
Prepaid income taxes	2,319	207
Prepaid expenses and other current assets	245	(411)
Other assets	(5)	(6)
Accounts payable	29	5
Accrued payroll and benefits	(159)	(562)
Other accrued taxes	328	162
Warranty reserve	2	3
Deferred revenue	683	1,336
Other current liabilities	0	(150)
Accrued income taxes	(1,814)	0
Net cash provided by operating activities	14,230	12,039
Investing activities:
Purchases of property and equipment	(588)	(6,333)
Capitalized intangible assets	(324)	(408)
Net cash used in investing activities	(912)	(6,741)
Financing activities:
Dividends paid	(5,113)	(4,323)
Taxes paid related to the net share settlement of equity awards	(284)	(212)
Net cash used in financing activities	(5,397)	(4,535)
Net increase in cash and cash equivalents	7,921	762
Cash and cash equivalents, beginning of period	51,159	52,234
Cash and cash equivalents, end of period	59,080	52,996
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 3,385	$ 2,346

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 59,080	$ 51,159
Accounts receivable, net of allowance for credit losses of $174,138 as of June 30, 2026, and $190,686 as of December 31, 2025	13,192	13,667
Inventory, net	12,257	11,620
Prepaid expenses and other current assets	1,401	1,646
Prepaid income taxes	792	3,111
Total current assets	86,722	81,203
Property and equipment, net	24,208	23,856
Intangible assets, net	3,438	3,384
Deferred tax asset, net	363	94
Other assets	244	239
Total assets	114,975	108,776
Current liabilities:
Accounts payable	1,849	1,820
Accrued payroll and benefits	3,059	3,218
Other accrued taxes	641	313
Warranty reserve	146	144
Deferred revenue	3,469	2,871
Accrued income taxes	0	1,814
Total current liabilities	9,164	10,180
Deferred revenue, non-current	4,063	3,978
Total liabilities	13,227	14,158
Stockholders’ equity:
Common stock; $0.0001 par value per share; 31,500,000 shares authorized; 12,786,740 shares issued and outstanding as of June 30, 2026, and 12,781,774 shares issued and outstanding as of December 31, 2025	1	1
Additional paid-in capital	31,593	30,386
Retained earnings	70,154	64,231
Total stockholders' equity	101,748	94,618
Total liabilities and stockholders’ equity	$ 114,975	$ 108,776