IRadimed Corp. Assets Stable at $126.7M
Ticker: IRMD · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1325618
Sentiment: neutral
Topics: financials, assets, 10-q
TL;DR
IRadimed assets flat at $126.7M as of Q3 2024. Steady as she goes.
AI Summary
IRadimed Corp. reported total assets of $126.7 million as of September 30, 2024, a slight increase from $126.6 million at the end of fiscal year 2023. The company's retained earnings and additional paid-in capital figures are detailed across various reporting periods, indicating consistent financial activity. The filing covers the period ending September 30, 2024.
Why It Matters
This filing provides a snapshot of IRadimed's financial health, showing stable asset levels which is crucial for investors assessing the company's stability and growth potential.
Risk Assessment
Risk Level: low — The filing indicates stable financial figures with no immediate red flags, suggesting a low-risk profile based on this report.
Key Numbers
- $126.7M — Total Assets (As of September 30, 2024, showing stable asset base.)
- $126.6M — Total Assets (As of December 31, 2023, indicating minimal change.)
Key Players & Entities
- IRADIMED CORP (company) — Filer
- $126.7 million (dollar_amount) — Total assets as of September 30, 2024
- $126.6 million (dollar_amount) — Total assets as of December 31, 2023
- 2024-09-30 (date) — Reporting period end date
FAQ
What was the net change in IRadimed Corp.'s total assets from the end of fiscal year 2023 to September 30, 2024?
IRadimed Corp.'s total assets remained virtually unchanged, moving from $126.6 million at the end of fiscal year 2023 to $126.7 million as of September 30, 2024.
What is the primary business of IRADIMED CORP?
IRADIMED CORP operates in the SURGICAL & MEDICAL INSTRUMENTS & APPARATUS industry, SIC code 3841.
What is the fiscal year end for IRADIMED CORP?
The fiscal year end for IRADIMED CORP is December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on October 31, 2024.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
Filing Stats: 4,167 words · 17 min read · ~14 pages · Grade level 20 · Accepted 2024-10-31 16:15:36
Key Financial Figures
- $0.0001 — h registered: Common stock, par value $0.0001 IRMD NASDAQ Global Market Indicat
Filing Documents
- irmd-20240930x10q.htm (10-Q) — 1349KB
- irmd-20240930xex31d1.htm (EX-31.1) — 13KB
- irmd-20240930xex31d2.htm (EX-31.2) — 12KB
- irmd-20240930xex32d2.htm (EX-32.2) — 9KB
- 0001558370-24-014056.txt ( ) — 5505KB
- irmd-20240930.xsd (EX-101.SCH) — 34KB
- irmd-20240930_cal.xml (EX-101.CAL) — 48KB
- irmd-20240930_def.xml (EX-101.DEF) — 98KB
- irmd-20240930_lab.xml (EX-101.LAB) — 304KB
- irmd-20240930_pre.xml (EX-101.PRE) — 220KB
- irmd-20240930x10q_htm.xml (XML) — 975KB
Financial Statements
Financial Statements 6 (a) Condensed Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 (Audited) 6 (b) Condensed Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 7 (c) Condensed Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 8 (d) Condensed Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (Unaudited) 9 (e) Notes to Unaudited Condensed Financial Statements 10 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 Item 4
Controls and Procedures
Controls and Procedures 23 Part II Other Information 24 Item 1
Legal Proceedings
Legal Proceedings 24 Item 1A
Risk Factors
Risk Factors 24 Item 2 Unregistered Sale of Equity Securities and Use of Proceeds 24 Item 3 Default Upon Senior Securities 24 Item 4 Mine Safety Disclosures 24 Item 5 Other Information 24 Item 6 Exhibits 25
Signatures
Signatures 26 2 Table of Contents CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (this "Quarterly Report") that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this Quarterly Report the words "believe," "anticipate," "expect," "may," "will," "assume," "should," "predict," "could," "would," "intend," "targets," "estimates," "projects," "plans," and "potential," and other similar words and expressions of the future, are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking, including statements about the Company's future financial and operating results and the Company's plans, objectives, and intentions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: our ability to receive 510(k) clearance for our products and product candidates, complete inspections conducted by the U.S. Food & Drug Administration ("FDA") or other regulatory bodies resulting in favorable outcomes, additional actions by or requests from the FDA, including a request to cease domestic distribution of p
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Financial Statements
Item 1. Condensed Financial Statements IRADIMED CORPORATION CONDENSED BALANCE SHEETS September 30, December 31, 2024 2023 (unaudited) (audited) ASSETS Current assets: Cash and cash equivalents $ 51,721,051 $ 49,762,198 Accounts receivable, net of allowance for credit losses of $ 277,437 as of September 30, 2024, and $ 368,835 as of December 31, 2023 10,364,786 12,224,273 Inventory, net 11,251,549 12,821,194 Prepaid expenses and other current assets 948,841 1,193,447 Total current assets 74,286,227 76,001,112 Property and equipment, net 14,155,985 9,288,625 Intangible assets, net 2,891,657 2,519,053 Operating lease right-of-use asset 264,075 2,043,043 Deferred tax asset, net 2,464,604 2,122,816 Other assets 184,213 181,449 Total assets $ 94,246,761 $ 92,156,098 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,400,544 $ 1,857,091 Accrued payroll and benefits 3,284,226 2,775,103 Other accrued taxes 193,688 103,241 Warranty reserve 118,203 117,463 Deferred revenue 2,555,105 2,570,407 Dividend payable — 7,975,997 Current portion of operating lease liabilities 261,244 427,963 Other current liabilities 250,000 250,000 Accrued income taxes — 250,041 Total current liabilities 8,063,010 16,327,306 Deferred revenue, non-current 2,748,295 2,793,548 Operating lease liabilities, non-current 2,831 1,615,080 Total liabilities 10,814,136 20,735,934 Stockholders' equity: Common stock; $ 0.0001 par value per share; 31,500,000 shares authorized; 12,669,912 shares issued and outstanding as of September 30, 2024, and 12,660,313 shares issued and outstanding as of December 31, 2023 1,267 1,265 Additional paid-in capital 29,886,087 28,160,745 Retained earnings 53,545,271 43,258,154 Total stockholders' equity 83,432,625 71,420,164 Total liabilities and stockholders' equity $ 94,246,761 $ 92,15