Why iRadimed Shares Are Surging Today?

iRadimed Corporation IRMD reported Q4 FY21 sales of $11.87 million, up 39% Y/Y, beating the consensus of $11.63 million.

• Sales from MRI devices increased 50% to $7.97 million.
• The gross margin improved from 75.3% to 77.9%, operating margin expanded from 7.6% to 26.2%.
• The Company posted a net income of $3.89 million, up from $0.64 million a year ago.
• Adjusted EPS of $0.33 came ahead of the consensus of $0.21 and $0.07 a year ago.
• "I am very happy to report these results. Fourth-quarter revenue grew nearly 39% over the fourth quarter last year and was supported by record bookings that grew over 48% from the fourth quarter last year. For the full-year 2021, revenue grew nearly 32% over last year, with a 39% increase in bookings," said Roger Susi, President, and CEO.
• Guidance: For FY22, iRadimed expects revenue of $51.4 million - $52.2 million, surpassing the consensus of $45.62 million.
• The Company forecasts adjusted EPS of $0.91 - $1.01, compared to the consensus of $0.83.
• For Q1 FY22, the Company sales of $12.1 million - $12.3 million, above the consensus of $11.07 million, with adjusted EPS of $0.20 to $0.21.
• Price Action: IRMD shares are trading 12.70% higher at $44.27 during the market session on the last check Friday.