IRadimed Corporation (NASDAQ:IRMD) Q1 2023 Earnings Conference Call May 4, 2023 11:00 AM ET
Company Participants
Roger Susi - President and Chief Executive Officer
Jack Glenn - Chief Financial Officer
Conference Call Participants
Frank Takkinen - Lake Street Capital
Scott Henry - ROTH Capital
Operator
Welcome to IRadimed Corporation First Quarter of the 2023 Financial Results Conference Call. Currently, all participants are in a listen-only mode. And at the end of the call, we will conduct a question-and-answer session. As a reminder, this call is being recorded today, May 4, 2023, and contains time-sensitive information that is accurate only as of today.
Earlier, IRadimed released its financial results for the first quarter of 2023. A copy of this press release announcing the company’s earnings is available under the heading News on their company’s website at iradimed.com. It released, a press release copy was also furnished to the Securities and Exchange Commission on Form 8-K and can be found at the sec.gov. This call is also being broadcast live over the internet on the company’s website at iradimed.com and a replay of the call will be available on the website for the next 90 days.
Some of the information in today’s session will constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Looking forward statements focus on future performance results, plans and events and may include the company’s expected future results. IRadimed reminds you that future results may differ materially from those forward-looking statements due to the severe risk factors. For a description of the relevant risks and uncertainties that may affect the company’s business, please see the Risk Factors section of the company’s most recent reports filed with the Securities and Exchange Commission, which may be obtained free from the SEC website at sec.gov.
I will now turn the call over to Mr. Roger Susi, President and Chief Executive Officer of IRadimed Corporation. Mr. Susi, please go ahead.
Roger Susi
Good morning and thank you all for joining us in today’s call. Once again, I have to put in task of reporting that IRadimed has had yet another excellent and exceptional quarter revenue and earnings growth. As we reported in this morning’s release. Q1 2023 was our top revenue quarter ever and our seventh consecutive quarter of record revenues.
As reported in this morning’s release first quarter 2023 revenue was $15.5 million representing a 26% increase over the first quarter of last year. GAAP diluted earnings per share for the first quarter were $0.27 with non-GAAP diluted earnings per share for the first quarter ‘23 at $0.30 per share, a 36% increase over the first quarter of 2022.