IRADIMED CORP
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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FY2023 · Filed Mar 1, 2024
IRMD$86.94+0.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
| · · · · · · · | |||||
|---|---|---|---|---|---|
| · · For the Years Ended December 31, | |||||
| · · · December 31, | |||||
| · · · 2023 · 2022 | |||||
| Operating activities: · · · | |||||
| Net income | | | $17,192,776 | | $12,828,487 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | ||
| Allowance for doubtful accounts | | | 208,337 | | 102,767 |
| Provision for excess and obsolete inventory | | | 181,443 | | 55,737 |
| Depreciation and amortization | | | 765,180 | | 670,673 |
| Loss (Gain) on disposal of property and equipment | | | 12,537 | | (1,741) |
| Stock-based compensation | | | 2,186,909 | | 1,394,106 |
| Deferred income taxes, net | | | (1,171,908) | | 57,097 |
| (Gain) on maturities of investments | | | — | | (8,025) |
| Changes in operating assets and liabilities: | | | | | |
| Accounts receivable | | | 841,911 | | (8,240,688) |
| Inventory | | | (7,468,170) | | (1,308,956) |
| Prepaid expenses and other current assets | | | (562,487) | | 305,936 |
| Other assets | | | 467,223 | | (398,224) |
| Accounts payable | | | (216,436) | | 1,124,972 |
| Accrued payroll and benefits | | | (96,787) | | 57,330 |
| Other accrued taxes | | | (18,678) | | (18,396) |
| Warranty reserve | | | 23,433 | | (14,850) |
| Deferred revenue | | | 615,636 | | 530,576 |
| Other current liabilities | | | 250,000 | | (146,435) |
| Prepaid income taxes | | | 254,093 | | 3,052,345 |
| Net cash provided by operating activities | | | 13,465,012 | | 10,042,711 |
| Investing activities: | | | | ||
| Proceeds from maturities of investments | | | — | | 500,000 |
| Purchases of property and equipment | | | (7,440,510) | | (823,019) |
| Capitalized intangible assets | | | (566,657) | | (1,051,978) |
| Net cash used in investing activities | | | (8,007,167) | | (1,374,997) |
| Financing activities: | | | | ||
| Dividends paid | | | (13,222,907) | | (12,559,127) |
| Proceeds from exercises of stock options | | | 176,744 | | 146,708 |
| Taxes paid related to the net share settlement of equity awards | | | (610,348) | | (293,981) |
| Net cash used in financing activities | | | (13,656,511) | | (12,706,400) |
| Net decrease in cash and cash equivalents | | | (8,198,666) | | (4,038,686) |
| Cash and cash equivalents, beginning of period | | | 57,960,864 | | 61,999,550 |
| Cash and cash equivalents, end of period | | | $49,762,198 | | $57,960,864 |
| Supplemental disclosure of cash flow information: | | | | ||
| Dividends declared not yet paid | | | $7,975,997 | | $— |
| Cash paid for income taxes | | | $5,351,708 | | $1,711,500 |
| ROU asset recognized in exchange for new lease obligation | | | $227,982 | | $— |
| Operating and short-term lease payments recorded within cash flow provided by operating activities | | | $675,190 | | $534,469 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.