$IRMD
IRADIMED CORP

2021 Form 10-K Financial Statement

#000110465922030317 Filed on March 04, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $41.81M $8.550M $31.72M
YoY Change 31.83% -21.49% -17.65%
Cost Of Revenue $9.765M $2.110M $8.143M
YoY Change 19.92% -22.99% -7.64%
Gross Profit $32.05M $6.440M $23.57M
YoY Change 35.95% -20.98% -20.63%
Gross Profit Margin 76.65% 75.32% 74.33%
Selling, General & Admin $20.33M $5.280M $22.43M
YoY Change -9.37% -4.52% 14.31%
% of Gross Profit 63.42% 81.99% 95.14%
Research & Development $1.905M $510.0K $1.903M
YoY Change 0.13% 34.21% 32.79%
% of Gross Profit 5.94% 7.92% 8.07%
Depreciation & Amortization $1.407M $340.0K $1.339M
YoY Change 5.08% 21.43% 7.77%
% of Gross Profit 4.39% 5.28% 5.68%
Operating Expenses $22.23M $5.790M $24.33M
YoY Change -8.62% -2.03% 15.56%
Operating Profit $9.818M $650.0K -$756.1K
YoY Change -1398.48% -70.98% -108.74%
Interest Expense $18.61K $140.0K
YoY Change -86.71% -65.0%
% of Operating Profit 0.19%
Other Income/Expense, Net $18.61K $10.00K $139.2K
YoY Change -86.64% -91.67% -64.84%
Pretax Income $9.836M $660.0K -$616.9K
YoY Change -1694.53% -71.91% -106.82%
Income Tax $510.8K $830.0K -$1.986M
% Of Pretax Income 5.19% 125.76%
Net Earnings $9.325M $640.0K $1.369M
YoY Change 581.19% -80.25% -85.79%
Net Earnings / Revenue 22.3% 7.49% 4.32%
Basic Earnings Per Share $0.76 $0.11
Diluted Earnings Per Share $0.74 $51.12K $0.11
COMMON SHARES
Basic Shares Outstanding 12.35M 12.27M 12.12M
Diluted Shares Outstanding 12.59M 12.44M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.50M $51.98M $51.98M
YoY Change 20.24% 12.39% 12.39%
Cash & Equivalents $62.00M $50.07M $50.07M
Short-Term Investments $501.9K $1.910M $1.910M
Other Short-Term Assets $1.001M $770.0K $770.0K
YoY Change 29.96% 87.8% 87.8%
Inventory $4.300M $3.934M $3.930M
Prepaid Expenses
Receivables $5.137M $4.575M $4.570M
Other Receivables $3.306M $2.480M $2.480M
Total Short-Term Assets $76.24M $63.74M $63.74M
YoY Change 19.62% 8.09% 8.11%
LONG-TERM ASSETS
Property, Plant & Equipment $4.551M $2.120M $4.840M
YoY Change -5.96% 3.23% -3.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $966.4K $262.0K $1.530M
YoY Change -36.84% 12.93% -19.47%
Total Long-Term Assets $6.636M $7.331M $7.330M
YoY Change -9.46% -5.59% -5.66%
TOTAL ASSETS
Total Short-Term Assets $76.24M $63.74M $63.74M
Total Long-Term Assets $6.636M $7.331M $7.330M
Total Assets $82.88M $71.07M $71.07M
YoY Change 16.62% 6.5% 6.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $782.9K $657.1K $660.0K
YoY Change 18.62% -33.88% -33.33%
Accrued Expenses $3.231M $2.070M $2.070M
YoY Change 56.11% -31.0% -31.0%
Deferred Revenue $1.949M
YoY Change 16.62%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.823M $4.917M $4.920M
YoY Change 38.67% -16.07% -16.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.885M $4.760M $4.760M
YoY Change -18.39% -11.03% -11.03%
Total Long-Term Liabilities $3.885M $4.760M $4.760M
YoY Change -18.39% -11.03% -11.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.823M $4.917M $4.920M
Total Long-Term Liabilities $3.885M $4.760M $4.760M
Total Liabilities $10.71M $9.682M $9.680M
YoY Change 10.62% -13.59% -13.57%
SHAREHOLDERS EQUITY
Retained Earnings $37.67M
YoY Change 3.77%
Common Stock $1.231K
YoY Change 4.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $72.17M $61.38M $61.38M
YoY Change
Total Liabilities & Shareholders Equity $82.88M $71.07M $71.07M
YoY Change 16.62% 6.5% 6.5%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $9.325M $640.0K $1.369M
YoY Change 581.19% -80.25% -85.79%
Depreciation, Depletion And Amortization $1.407M $340.0K $1.339M
YoY Change 5.08% 21.43% 7.77%
Cash From Operating Activities $11.26M $2.500M $5.817M
YoY Change 93.52% -36.71% -43.15%
INVESTING ACTIVITIES
Capital Expenditures $482.3K -$110.0K $443.0K
YoY Change 8.88% -52.17% 20.29%
Acquisitions
YoY Change
Other Investing Activities $1.390M $400.0K $880.0K
YoY Change 57.95% -65.81% -76.15%
Cash From Investing Activities $648.2K $300.0K $247.0K
YoY Change 162.48% -67.74% -92.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.43K -280.0K 522.5K
YoY Change -95.33% 600.0% -74.14%
NET CHANGE
Cash From Operating Activities 11.26M 2.500M 5.817M
Cash From Investing Activities 648.2K 300.0K 247.0K
Cash From Financing Activities 24.43K -280.0K 522.5K
Net Change In Cash 11.93M 2.520M 6.587M
YoY Change 81.13% -47.93% -57.38%
FREE CASH FLOW
Cash From Operating Activities $11.26M $2.500M $5.817M
Capital Expenditures $482.3K -$110.0K $443.0K
Free Cash Flow $10.78M $2.610M $5.374M
YoY Change 100.5% -37.56% -45.52%

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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2020 us-gaap Profit Loss
ProfitLoss
1369001
CY2019 us-gaap Profit Loss
ProfitLoss
9630959
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
31338
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
118217
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
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CY2019 us-gaap Inventory Write Down
InventoryWriteDown
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CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1406823
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1338824
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
3962021
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
1854965
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-523607
CY2020 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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CY2019 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
18593
CY2020 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
17272
CY2019 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
10764
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
575543
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2690487
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3114649
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
393316
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
282904
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-123680
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1038047
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1098908
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
487650
CY2021 us-gaap Increase Decrease In Other Operating Assets
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-26557
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
65187
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
171002
CY2021 us-gaap Increase Decrease In Accounts Payable
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30414
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-403567
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
149319
CY2021 us-gaap Increase Decrease In Employee Related Liabilities
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1099778
CY2020 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-451427
CY2019 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
363888
CY2021 us-gaap Increase Decrease In Property And Other Taxes Payable
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36334
CY2020 us-gaap Increase Decrease In Property And Other Taxes Payable
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-492595
CY2019 us-gaap Increase Decrease In Property And Other Taxes Payable
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463576
CY2021 irmd Increase Decrease In Warranty Reserve
IncreaseDecreaseInWarrantyReserve
18826
CY2020 irmd Increase Decrease In Warranty Reserve
IncreaseDecreaseInWarrantyReserve
8293
CY2019 irmd Increase Decrease In Warranty Reserve
IncreaseDecreaseInWarrantyReserve
7237
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
48062
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-12202
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
700348
CY2020 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
38014
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-829227
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1106264
CY2019 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-3055
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-4048
CY2019 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-859
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11258156
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5817496
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10232733
CY2021 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1390000
CY2020 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
883715
CY2019 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
3687000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
482325
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
443003
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
368281
CY2021 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
259434
CY2020 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
193743
CY2019 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
117531
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
648241
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
246969
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3201188
CY2021 irmd Proceeds From Issuance Of Stock Option And Warrants Exercised
ProceedsFromIssuanceOfStockOptionAndWarrantsExercised
623242
CY2020 irmd Proceeds From Issuance Of Stock Option And Warrants Exercised
ProceedsFromIssuanceOfStockOptionAndWarrantsExercised
1730100
CY2019 irmd Proceeds From Issuance Of Stock Option And Warrants Exercised
ProceedsFromIssuanceOfStockOptionAndWarrantsExercised
2493315
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
598817
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1207618
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
473143
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24425
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
522482
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2020172
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11930822
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6586947
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15454093
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50068728
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43481781
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28027688
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61999550
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50068728
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43481781
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
970000
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
12000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
27713
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3182724
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
490108
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
429888
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
428176
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities in the financial statements and the reported amount of revenue and expenses during the reporting period. Such estimates include allowances for potentially uncollectible accounts receivable, valuation of inventory, intangible assets, stock-based compensation, deferred income taxes, reserves for warranty obligations, and the provision for income taxes. Actual results could differ from those estimates.</p>
CY2021 irmd Percentage Of Fees To Group Purchasing Organizations On Sales To Its Members
PercentageOfFeesToGroupPurchasingOrganizationsOnSalesToItsMembers
0.03
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
60361
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
46484
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
95933
CY2020 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
6959
CY2019 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
155983
CY2021Q4 irmd Shipments In Transit
ShipmentsInTransit
70295
CY2021 us-gaap Net Income Loss
NetIncomeLoss
9325471
CY2020 us-gaap Net Income Loss
NetIncomeLoss
1369001
CY2019 us-gaap Net Income Loss
NetIncomeLoss
9630959
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12346173
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12123556
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11282214
CY2019 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
55361
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
172792
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
267815
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
843957
CY2021 irmd Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
59996
CY2020 irmd Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
48715
CY2019 irmd Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
94912
CY2021 irmd Incremental Common Shares Attributable To Dilutive Effect Of Performance Based Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfPerformanceBasedRestrictedStockUnits
-11892
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12590853
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12440086
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12276444
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.76
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4597
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
42690
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25439
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Certain Significant Risks and Uncertainties</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We market our products to end users in the United States and to third-party distributors internationally. Sales to end users in the United States are generally made on open credit terms. Management maintains an allowance for potential credit losses.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We have deposited our cash and cash equivalents with various financial institutions. Our cash and cash equivalents balances exceed federally insured limits periodically throughout the year. We have not incurred any losses related to these balances.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our medical devices require clearance from the Food and Drug Administration and international regulatory agencies prior to commercialized sales. Our future products may not receive required approvals. If we were denied such approvals, or if such approvals were revoked or delayed or if we were unable to timely renew certain approvals for existing products, it would have a materially adverse impact on our business, results of operations and financial condition.</p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Times New Roman','Times','serif';">Certain key components of our products essential to their functionality are sole-sourced. Any disruption in the availability of these components would have a materially adverse impact on our business, results of operations and financial condition.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 10pt 0pt;"><i style="font-style:italic;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">COVID-19 Considerations</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The COVID-19 pandemic, and related governmental and societal responses thereto, continue to cause disruption in global supply and distribution channels and significantly change the way companies manage their business. From the beginning of this global health crisis, our priority has been the safety and well-being of our employees and continuing to supply our customers with access to our therapeutic and diagnostic device solutions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We continue to monitor the developments associated with the COVID-19 pandemic and its effects on our employees, customers, supply chain and distribution channels. The ongoing impact of the pandemic depends on several factors including the severity and duration of the pandemic and the extent and severity of the impact on our customers, which is uncertain and unpredictable. Our future results of operations and cash flows may suffer adverse effects from disruptions in our supply chain and manufacturing operations, delays in payments on outstanding accounts receivable, uncertain demand for our products, and effects of any actions we may take to address financial and operational challenges our customers may face. Our future results may potentially be heavily determined by global vaccination rates, duration of the pandemic, its geographic spread, further business disruptions and the overall impact on the global economy. Other risks and uncertainties that we face include, but are not limited to:</p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">disruptions in our supply chain that may limit our ability to procure materials necessary to manufacture our products or procuring materials at elevated costs resulting in diminished financial results;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">postponement or cancellation of MRI medical procedures and their uncertain return which adversely impacts our business;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">potential temporary or prolonged closure of our office and production facility;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">the health of our employees and ability to meet our staffing needs;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">potential new or continued governmental actions that may limit employees’ ability to work;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">civil unrest relating to government, corporate and societal responses to the pandemic;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">volatility in economic conditions and the financial markets, and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">other unanticipated effects that remain unknown.</span></td></tr></table><div style="margin-top:12pt;"/><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We are actively managing our response to the COVID-19 pandemic and working with our customers, distributors, vendors, and suppliers and assessing the potential effects to our financial position, results of operations and cash flows. As of the date of the issuance of these financial statements, the extent to which COVID-19, or its variants, may materially impact our financial condition, liquidity, or results of operations in future periods remains uncertain.</p>
CY2021Q4 irmd Advance Payments From Customers
AdvancePaymentsFromCustomers
551267
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
41814581
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31717372
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38517141
CY2021 irmd Revenue From Contract With Customer Before Other Income Excluding Assessed Tax
RevenueFromContractWithCustomerBeforeOtherIncomeExcludingAssessedTax
27070162
CY2020 irmd Revenue From Contract With Customer Before Other Income Excluding Assessed Tax
RevenueFromContractWithCustomerBeforeOtherIncomeExcludingAssessedTax
19124004
CY2019 irmd Revenue From Contract With Customer Before Other Income Excluding Assessed Tax
RevenueFromContractWithCustomerBeforeOtherIncomeExcludingAssessedTax
27761639
CY2021 irmd Revenue From Disposables And Services
RevenueFromDisposablesAndServices
12797605
CY2020 irmd Revenue From Disposables And Services
RevenueFromDisposablesAndServices
10723847
CY2019 irmd Revenue From Disposables And Services
RevenueFromDisposablesAndServices
8914822
CY2021 irmd Amortization Of Extended Warranty Agreements
AmortizationOfExtendedWarrantyAgreements
1946814
CY2020 irmd Amortization Of Extended Warranty Agreements
AmortizationOfExtendedWarrantyAgreements
1869521
CY2019 irmd Amortization Of Extended Warranty Agreements
AmortizationOfExtendedWarrantyAgreements
1840680
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
41814581
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31717372
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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