IRADIMED CORPORATION (NASDAQ:IRMD) Q1 2024 Results Conference Call May 2, 2024 11:00 AM ET
Company Participants
Roger Susi - President and Chief Executive Officer
Jack Glenn - Chief Financial Officer
Conference Call Participants
Jason Wittes - ROTH Capital Partners
Frank Takkinen - Lake Street Capital
Operator
Welcome to IRADIMED CORPORATION First Quarter of 2024 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. This call is being recorded today, May 2, 2024, and contains time-sensitive accurate information only today.
Earlier, IRADIMED released its financial results for the first quarter of 2024. A copy of this press release announcing the Company's earnings is available under the heading News on the website, iradimed.com. A copy of the press release was also furnished to the Securities and Exchange Commission on Form 8-K and can be found at sec.gov. This call is being broadcast live over the Internet on the Company's website at iramimed.com. And a replay 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. Forward-looking statements focused 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 these forward-looking statements due to several risk factors.
For a description of 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 would like to turn the call over to Roger Susi, President and Chief Executive Officer of IRADIMED CORPORATION. Mr. Susi?
Roger Susi
Good morning. Thank you all for joining us on today's call. As recently reported, I'm once again very pleased to announce yet another consecutive quarter of record IRADIMED net revenue generated in our recent Q1 2024 quarter. This is our 11th revenue increase in a row.
As this morning's press release announced, in the first quarter of 2024, revenue came in at $17.6 million, representing a 13.7% increase over the first quarter of '23. GAAP diluted earnings per share for the first quarter were $0.32. While non-GAAP diluted earnings were $0.36 per share, a 20% increase over Q1 of '23.