Iradimed Corporation Intrinsic Value – IRADIMED CORPORATION Reports Second Quarter FY2023 Earnings Results on August 3 2023
August 14, 2023
🌥️Earnings Overview
On August 3 2023, IRADIMED CORPORATION ($NASDAQ:IRMD) reported their earnings results for the second quarter of FY2023, which ended on June 30 2023. Total revenue for the quarter amounted to USD 16.1 million compared to the previous year – an increase of 26.8%. Net income was up 29.0% year-over-year, standing at USD 4.2 million.
Stock Price
The results showed improvement in the company’s performance, which was reflected in the stock market. On Thursday, IRADIMED CORPORATION stock opened at $46.1 and closed at $48.2, representing a 10.2% increase from the previous closing price of 43.7. The company also reported a decrease in overhead costs and an increase in operating margins, which contributed to the overall improvement in profits.
Overall, IRADIMED CORPORATION’s second quarter FY2023 earnings results were well received by investors, resulting in a surge in stock prices. The company’s strong performance shows that its strategic initiatives are bearing fruit and that they can sustain their strong performance in the long-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Iradimed Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 59.88 | 14.69 | 24.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Iradimed Corporation. More…
| Operations | Investing | Financing |
| 15.14 | -7.96 | -13.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Iradimed Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 81.43 | 12.43 | 5.48 |
Key Ratios Snapshot
Some of the financial key ratios for Iradimed Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.1% | 89.1% | 29.0% |
| FCF Margin | ROE | ROA |
| 12.0% | 16.3% | 13.3% |
Analysis – Iradimed Corporation Intrinsic Value
At GoodWhale, we have conducted a comprehensive analysis of IRADIMED CORPORATION‘s fundamentals to arrive at our valuation. Our proprietary Valuation Line calculation gives the intrinsic value of IRADIMED CORPORATION’s share to be around $43.6. Currently, the stock is trading at $48.2, which is overvalued by 10.5%. Therefore, investors should carefully consider whether the current price is too high for the potential return from the stock. More…
Peers
The company was founded in 1997 and is headquartered in Winter Springs, Florida. iRadimed Corp’s main competitors are PROCEPT BioRobotics Corp, Nanomix Corp, and Axogen Inc.
– PROCEPT BioRobotics Corp ($NASDAQ:PRCT)
The company has a market cap of 1.76B as of 2022 and a ROE of -19.45%. The company is engaged in the development of medical devices and robotic technologies. The company’s products include the DaVinci surgical system, which is used in a variety of minimally invasive surgeries, and the Procept Bionic System, which is used for the treatment of lower back pain.
– Nanomix Corp ($OTCPK:NNMX)
Nanomix Corp is a company that specializes in nanotechnology. They have a market cap of 26.3 million as of 2022 and a return on equity of 46.85%. Nanomix Corp is a company that is constantly innovating and expanding theirnanotechnology. They are constantly exploring new ways to apply nanotechnology in order to improve the quality of their products. Nanomix Corp is a company that is always looking for new ways to improve their products and services.
– Axogen Inc ($NASDAQ:AXGN)
Axogen Inc is a medical technology company that develops and markets products for the treatment of peripheral nerve injuries. The company’s products are used by surgeons for the repair of damaged nerves in the arm, leg, and hand.
Summary
IRADIMED CORPORATION reported strong second quarter results for FY2023, with total revenue reaching USD 16.1 million, a 26.8% year-over-year increase, and net income of USD 4.2 million, a 29.0% year-over-year increase. This positive performance was reflected in IRADIMED CORPORATION’s stock price, which rose the same day as the earnings announcement. Investors may consider IRADIMED CORPORATION a potential investment opportunity given the company’s improving performance and robust financials. Further research into the underlying drivers of IRADIMED CORPORATION’s success would provide investors with additional information for making informed decisions.
