$IRMD
IRADIMED CORP

2024 Q1 Form 10-K Financial Statement

#000155837024002235 Filed on March 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $17.60M $17.45M $65.56M
YoY Change 13.72% 17.42% 23.0%
Cost Of Revenue $4.210M $4.039M $15.40M
YoY Change 12.17% 10.87% 28.15%
Gross Profit $13.39M $13.41M $50.16M
YoY Change 14.22% 19.54% 21.5%
Gross Profit Margin 76.07% 76.86% 76.5%
Selling, General & Admin $7.818M $7.603M $27.26M
YoY Change 12.97% 19.51% 16.63%
% of Gross Profit 58.4% 56.68% 54.36%
Research & Development $821.0K $650.4K $2.859M
YoY Change 3.44% 7.56% 25.49%
% of Gross Profit 6.13% 4.85% 5.7%
Depreciation & Amortization $226.1K $205.4K $765.2K
YoY Change 23.85% -129.64% 14.09%
% of Gross Profit 1.69% 1.53% 1.53%
Operating Expenses $8.639M $8.253M $30.12M
YoY Change 11.99% 18.47% 17.42%
Operating Profit $4.748M $5.160M $20.04M
YoY Change 18.49% 21.3% 28.21%
Interest Expense -$148.8K $1.715M
YoY Change 210.12%
% of Operating Profit -2.88% 8.56%
Other Income/Expense, Net $495.2K $521.8K $1.703M
YoY Change 44.61% 16.03% 207.86%
Pretax Income $5.244M $5.682M $21.74M
YoY Change 20.55% 20.79% 34.35%
Income Tax $1.107M $1.142M $4.545M
% Of Pretax Income 21.11% 20.1% 20.91%
Net Earnings $4.137M $4.540M $17.19M
YoY Change 21.45% 23.61% 34.03%
Net Earnings / Revenue 23.51% 26.01% 26.22%
Basic Earnings Per Share $0.33 $1.36
Diluted Earnings Per Share $0.32 $0.36 $1.35
COMMON SHARES
Basic Shares Outstanding 12.66M 12.61M 12.60M
Diluted Shares Outstanding 12.75M 12.72M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.13M $49.76M $49.76M
YoY Change 5.49% -14.15% -14.15%
Cash & Equivalents $45.13M $49.76M $49.76M
Short-Term Investments
Other Short-Term Assets $1.036M $1.193M $1.193M
YoY Change 53.31% -94.1% -94.1%
Inventory $12.70M $12.82M $12.82M
Prepaid Expenses
Receivables $13.03M $12.22M $12.22M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $71.89M $76.00M $76.00M
YoY Change 17.27% -2.8% -2.8%
LONG-TERM ASSETS
Property, Plant & Equipment $9.452M $9.289M $11.33M
YoY Change 9.35% 287.06% 372.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $184.7K $181.4K $2.304M
YoY Change -63.28% -96.31% -53.2%
Total Long-Term Assets $16.13M $16.15M $16.15M
YoY Change 12.62% 120.6% 120.6%
TOTAL ASSETS
Total Short-Term Assets $71.89M $76.00M $76.00M
Total Long-Term Assets $16.13M $16.15M $16.15M
Total Assets $88.01M $92.16M $92.16M
YoY Change 16.39% 7.77% 7.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.285M $1.857M $1.857M
YoY Change -26.81% 3.21% 3.21%
Accrued Expenses $2.700M $3.306M $3.306M
YoY Change 29.51% 0.58% 0.58%
Deferred Revenue $2.338M $2.570M
YoY Change 12.91% -23.8%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.617M $16.33M $16.33M
YoY Change 12.74% 90.88% 90.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.276M $4.409M $4.409M
YoY Change -5.48% 34.12% 34.12%
Total Long-Term Liabilities $4.276M $4.409M $4.409M
YoY Change -5.48% 34.12% 34.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.617M $16.33M $16.33M
Total Long-Term Liabilities $4.276M $4.409M $4.409M
Total Liabilities $11.89M $20.74M $20.74M
YoY Change 5.43% 75.12% 75.12%
SHAREHOLDERS EQUITY
Retained Earnings $47.39M $43.26M
YoY Change 26.56% -8.48%
Common Stock $1.266K $1.265K
YoY Change 0.56% 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.12M $71.42M $71.42M
YoY Change
Total Liabilities & Shareholders Equity $88.01M $92.16M $92.16M
YoY Change 16.39% 7.77% 7.77%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $4.137M $4.540M $17.19M
YoY Change 21.45% 23.61% 34.03%
Depreciation, Depletion And Amortization $226.1K $205.4K $765.2K
YoY Change 23.85% -129.64% 14.09%
Cash From Operating Activities $3.883M $3.912M $13.47M
YoY Change -16.42% 28.75% 34.08%
INVESTING ACTIVITIES
Capital Expenditures $270.6K $632.8K $7.441M
YoY Change -95.77% 34.16% 804.05%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$478.8K -$632.8K -$8.007M
YoY Change -92.7% 34.16% 482.34%
FINANCING ACTIVITIES
Cash Dividend Paid $7.976M $13.22M
YoY Change -39.68% 5.29%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.040M -262.6K -13.66M
YoY Change -39.43% 32.31% 7.48%
NET CHANGE
Cash From Operating Activities 3.883M 3.912M 13.47M
Cash From Investing Activities -478.8K -632.8K -8.007M
Cash From Financing Activities -8.040M -262.6K -13.66M
Net Change In Cash -4.636M 3.017M -8.199M
YoY Change -69.47% 27.37% 103.0%
FREE CASH FLOW
Cash From Operating Activities $3.883M $3.912M $13.47M
Capital Expenditures $270.6K $632.8K $7.441M
Free Cash Flow $3.613M $3.280M $6.025M
YoY Change -306.45% 27.75% -34.66%

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CY2023 us-gaap Increase Decrease In Other Operating Assets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
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CY2023 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accounts Payable
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CY2023 us-gaap Increase Decrease In Employee Related Liabilities
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CY2022 us-gaap Increase Decrease In Employee Related Liabilities
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CY2023 us-gaap Increase Decrease In Property And Other Taxes Payable
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CY2022 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
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CY2023 irmd Increase Decrease In Warranty Reserve
IncreaseDecreaseInWarrantyReserve
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CY2022 irmd Increase Decrease In Warranty Reserve
IncreaseDecreaseInWarrantyReserve
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2023 us-gaap Increase Decrease In Other Current Liabilities
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CY2022 us-gaap Increase Decrease In Other Current Liabilities
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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254093
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
3052345
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023 us-gaap Payments To Acquire Other Productive Assets
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CY2022 us-gaap Payments To Acquire Other Productive Assets
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Payments Of Dividends
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CY2022 us-gaap Payments Of Dividends
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CY2023 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
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CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Dividends Payable Current
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CY2023 us-gaap Income Taxes Paid Net
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CY2022 us-gaap Income Taxes Paid Net
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023 irmd Operating And Short Term Lease Payments
OperatingAndShortTermLeasePayments
675190
CY2022 irmd Operating And Short Term Lease Payments
OperatingAndShortTermLeasePayments
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CY2023 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</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>
CY2023 irmd Percentage Of Fees To Group Purchasing Organizations On Sales To Its Members
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Net Income Loss
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023 irmd Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
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63340
CY2022 irmd Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
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CY2023 irmd Incremental Common Shares Attributable To Dilutive Effect Of Performance Based Restricted Stock Units
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CY2022 irmd Incremental Common Shares Attributable To Dilutive Effect Of Performance Based Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfPerformanceBasedRestrictedStockUnits
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023 us-gaap Earnings Per Share Diluted
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1.35
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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22744
CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Certain Significant Risks and Uncertainties</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:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 36pt;"><i style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Pandemic Considerations</i></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 developments associated with the recent evolving pandemic and its effects on our employees, customers, supply chain and distribution channels. The ongoing impact of the recent and potential future pandemics 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.</p><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 recent pandemic and continue to work 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 a pandemic may materially impact our financial condition, liquidity, or results of operations in future periods remains uncertain.</p>
CY2023 irmd Deduction Term For Related Cash Tax Payments
DeductionTermForRelatedCashTaxPayments
P5Y
CY2023 irmd Increase In Deferred Tax Assets Mandatory Capitalization Requirement
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500000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023 irmd Revenue From Contract With Customer Before Other Income Excluding Assessed Tax
RevenueFromContractWithCustomerBeforeOtherIncomeExcludingAssessedTax
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CY2022 irmd Revenue From Contract With Customer Before Other Income Excluding Assessed Tax
RevenueFromContractWithCustomerBeforeOtherIncomeExcludingAssessedTax
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CY2023 irmd Revenue From Disposables And Services
RevenueFromDisposablesAndServices
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CY2022 irmd Revenue From Disposables And Services
RevenueFromDisposablesAndServices
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CY2023 irmd Amortization Of Extended Warranty Agreements
AmortizationOfExtendedWarrantyAgreements
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CY2022 irmd Amortization Of Extended Warranty Agreements
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CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q4 irmd Advance Payments From Customers
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CY2022Q4 irmd Advance Payments From Customers
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CY2023Q4 irmd Shipments In Transit
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CY2022Q4 irmd Shipments In Transit
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CY2023Q4 us-gaap Extended Product Warranty Accrual
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CY2022Q4 us-gaap Extended Product Warranty Accrual
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CY2023Q4 us-gaap Contract With Customer Liability
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CY2022Q4 us-gaap Contract With Customer Liability
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CY2021Q4 us-gaap Contract With Customer Liability
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CY2022 irmd Contract With Customer Liability Increase Due To Cash Received From Customers
ContractWithCustomerLiabilityIncreaseDueToCashReceivedFromCustomers
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CY2022 irmd Contract With Customer Liability Decrease Due To Recognition Of Revenue
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CY2022Q4 us-gaap Contract With Customer Liability
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CY2023 irmd Contract With Customer Liability Increase Due To Cash Received From Customers
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CY2023 irmd Contract With Customer Liability Decrease Due To Recognition Of Revenue
ContractWithCustomerLiabilityDecreaseDueToRecognitionOfRevenue
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CY2023Q4 us-gaap Contract With Customer Liability
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CY2022Q4 us-gaap Capitalized Contract Cost Net
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CY2022Q4 us-gaap Inventory Raw Materials
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CY2023Q4 us-gaap Inventory Work In Process
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CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
369761
CY2023Q4 us-gaap Inventory Finished Goods
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1907729
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
411647
CY2023Q4 us-gaap Inventory Gross
InventoryGross
13241924
CY2022Q4 us-gaap Inventory Gross
InventoryGross
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CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
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CY2022Q4 us-gaap Inventory Adjustments
InventoryAdjustments
239288
CY2023Q4 us-gaap Inventory Net
InventoryNet
12821194
CY2022Q4 us-gaap Inventory Net
InventoryNet
5369233
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13358460
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5830142
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3430330
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2399812
CY2023 us-gaap Depreciation
Depreciation
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CY2022 us-gaap Depreciation
Depreciation
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CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2399812
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
834988
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2519053
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2069439
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
117047
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
101122
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
229330
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
226190
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
140731
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
138129
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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-10953
CY2022 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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6059
CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
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1394106
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1273073
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
349669
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
1864113
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2022 us-gaap Gain Loss On Investments
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8025
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-148842
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2023 us-gaap Gain Loss On Disposition Of Assets1
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CY2022 us-gaap Gain Loss On Disposition Of Assets1
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CY2023 us-gaap Nonoperating Income Expense
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CY2022 us-gaap Nonoperating Income Expense
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CY2023 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2023 us-gaap Current Foreign Tax Expense Benefit
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CY2022 us-gaap Current Foreign Tax Expense Benefit
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CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns And Allowances
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns And Allowances
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CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Reserves And Accruals
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CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Research And Development Costs
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CY2023Q4 us-gaap Deferred Tax Assets Other
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CY2022Q4 us-gaap Deferred Tax Assets Other
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CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2022 irmd Effective Income Tax Rate Reconciliation Cares Act Net Operating Loss Carryback
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-0.001
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023 irmd Effective Income Tax Rate Reconciliation Nondeductible Permanent Items Expense Percent
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CY2022 irmd Effective Income Tax Rate Reconciliation Nondeductible Permanent Items Expense Percent
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CY2023 irmd Effective Income Tax Rate Reconciliation Provision To Return Adjustments
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-0.017
CY2022 irmd Effective Income Tax Rate Reconciliation Provision To Return Adjustments
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-0.003
CY2023 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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0.013
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Operating Lease Cost
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2023Q4 us-gaap Purchase Obligation
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CY2022Q4 us-gaap Purchase Obligation
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CY2023Q4 us-gaap Common Stock Dividends Per Share Declared
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0.48
CY2023Q4 irmd Common Stock Quarterly Dividends Per Share Declared
CommonStockQuarterlyDividendsPerShareDeclared
0.15

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