I RADIMED CORPORATION Announces Second Quarter 2021 Financial Results Reports second quarter 2021 revenue of $9.8 million, GAAP diluted EPS of $0.12 and non-GAAP diluted EPS of $0.14 Issues Q3 and full year 2021 financia

CORPORATION Announces Second Quarter 2021 Financial Results

Winter Springs, Florida, July 30, 2021 - iRadimed

Corporation (the "Company") (NASDAQ: IRMD), a leader in the development

of innovative magnetic resonance imaging ("MRI") medical devices and the only known provider of a non-magnetic intravenous

("IV") infusion pump system, and non-magnetic patient vital signs monitoring systems that are designed for use during MRI

procedures, today announced financial results for the three and six months ended June 30, 2021.

quarter marks another record high in total bookings for our products, giving us confidence and optimism for the second half of 2021. Our

second quarter financial results are a continuation of the growth trends we have seen over the last four quarters since the rise of COVID-19.

I am very proud of our team and their resilience in overcoming the challenges of the past year. This is an exciting time in our history

marked by growing demand for our unique products along with a new product cycle on the horizon, provides a strong platform for continued

positive results," said Roger Susi, President and Chief Executive Officer of the Company.

Three Months Ended June 30, 2021

For the second quarter ended June 30, 2021, the Company reported

revenue of $9.8 million compared to $6.8 million for the second quarter 2020. Net income was $1.5 million, or $0.12 per diluted share,

compared to a net loss of $(2.1) million, or $(0.17) per diluted share for the second quarter 2020. The increase in net income and diluted

earnings per share is primarily the result of a $3.0 million increase in revenue for the second quarter 2021. Additionally, during the

second quarter ended June 30, 2020, the Company recognized $2.8 million of general and administrative expense related to our former

Non-GAAP net income was $1.7 million for the quarter ended June 30,

2021, which excludes $0.3 million of stock compensation expense, net of tax expense. Non-GAAP net income for the quarter ended June 30,

2020 was $0.6 million, which excludes $0.3 million of on-going stock compensation expense, net of tax, and $2.4 million of expenses, net

of tax, related to the separation of our former CEO. Non-GAAP earnings per diluted share was $0.14 for the second quarter 2021, compared

to $0.05 for the second quarter 2020.

Six Months Ended June 30, 2021

For the six months ended June 30, 2021, the Company reported revenue

of $19.0 million compared to $15.5 million for the same period in 2020. Net income was $2.9 million, or $0.23 per diluted share, compared

to a net loss of $(0.3) million, or $(0.03) per diluted share for the same period in 2020. The increase in net income and diluted earnings

per share is primarily the result of a $3.5 million increase in revenue for the six months ended June 30, 2021. Additionally, during

the six months ended June 30, 2020, the Company recognized total general and administrative expense of $3.2 million related to our

Non-GAAP net income was $3.4 million for the six months ended June 30,

2021, which excludes $0.5 million of stock compensation expense, net of tax expense. Non-GAAP net income for the six months ended June 30,

2020 was $2.8 million, which excludes $0.7 million of on-going stock compensation expense, net of tax, and $2.4 million of expenses, net

of tax, related to the separation of our former CEO. Non-GAAP earnings per diluted share was $0.27 for the six months ended June 30,

2021, compared to $0.22 for the same period in 2020.

For the second quarter 2021, domestic sales were 82.0 percent of total

revenue, compared to 68.3 percent for the second quarter 2020. Gross profit margin was 74.7 percent for the second quarter 2021, compared

to 72.6 percent for the second quarter 2020.

For the six months ended June 30, 2021, domestic sales were 80.5

percent of total revenue, compared to 70.9 percent for the same period in 2020. Gross profit margin was 75.6 percent for the six months

ended June 30, 2021, compared to 73.6 percent for the same period in 2020.

Flow and Balance Sheet:

For the six months ended June 30, 2021, cash from operations was

$4.5 million, compared to $2.0 million for the same period in 2020.

the second quarter ended June 30, 2021, free cash flow was $3.5 million, compared to $0.7 million for the second quarter 2020. For

the six months ended June 30, 2021, free cash flow was $4.3 million, compared to $1.7 million for the same period in

As of June 30, 2021, the Company had combined cash and investments

For the third quarter 2021, the Company expects to report revenue of

$10.3 million to $10.5 million, GAAP diluted earnings per share of $0.14 to $0.15, and non-GAAP diluted earnings per share of $0.16 to

For the full year 2021, the Company expects to report revenue of $40.0

million to $40.4 million, GAAP diluted earnings per share of $0.53 to $0.55, and non-GAAP diluted earnings per share of $0.60 to $0.62.

The Company's non-GAAP diluted earnings per share guidance excludes

stock-based compensation expense, net of tax, which the Company expects to be approximately $0.3 million and $1.1 million for the third

quarter and full year 2021, respectively.

Use of non-GAAP Financial Measures

The Company believes the use of non-GAAP net income, free cash flow

and infrequent income tax items are helpful to our investors. These measures, which we refer to as our non-GAAP financial measures, are

not prepared in accordance with U.S. GAAP.

We calculate non-GAAP net income as net income excluding (1) stock-based

compensation expense, net of tax. Because of varying available valuation methodologies, subjective assumptions and the variety of equity

instruments that can impact a company's non-cash expenses, we believe that providing non-GAAP financial measures that exclude stock-based

compensation expense allows for meaningful comparisons between our operating results from period to period; (2) operating expenses,

net of tax, that we believe are not indicative of the Company's on-going core operating performance, and; (3) infrequent tax

items are considered based on their nature and are excluded from the provision for income taxes as these costs or benefits are not indicative

of our normal or future provision for income taxes. We calculate free cash flow as net cash provided by operating activities, less net

cash used in investing activities for purchases of property and equipment.

We consider free cash flow to be a liquidity measure that provides

useful information to management and investors about the amount of cash generated by our business that can be used for strategic opportunities,

including investing in our business, making strategic acquisitions, strengthening our balance sheet and returning cash to our shareholders

via share repurchases.

All of our non-GAAP financial measures are important tools for financial

and operational decision making and for evaluating our on-going core operating results.

A reconciliation of the non-GAAP financial measures used in this release

to the most comparable U.S. GAAP measures for the respective periods can be found in the table later in this release immediately following

the condensed statements of cash flows. These non-GAAP financial measures should not be considered in isolation or as a substitute

for a measure of the Company's operating performance or liquidity prepared in accordance with U.S. GAAP and are not indicative of

net income or cash provided by operating activities.

has scheduled a conference call to discuss this announcement beginning at 11:00 a.m. Eastern Time today, July 30, 2021. Individuals

interested in listening to the conference call may do so by dialing 1-844-413-1781 for domestic callers, or 1-716-247-5767 for international

callers, and entering the reservation code 7590809.

conference call will also be available real-time via the internet at http://www.iradimed.com/en-us/investors/events/. A

recording of the call will be available on the Company's website following the completion of the call.

Corporation is a leader in the development of innovative magnetic resonance imaging ("MRI") compatible medical devices.

We are the only known provider of a non-magnetic intravenous ("IV") infusion pump system that is specifically designed to

be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers

and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components which can create radio

frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium

MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts and

other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution

provides a seamless approach that enables accurate, safe and dependable fluid delivery before, during and after an MRI scan, which is

important to critically-ill patients who cannot be removed from their vital medications, and children and infants who must generally

be sedated to remain immobile during an MRI scan.

3880 MRI compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features

to safely and accurately monitor a patient's vital signs during various MRI procedures. The IRADIMED 3880 system operates dependably

in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The IRADIMED 3880 has a

compact, lightweight design allowing it to travel with the patient from their critical care unit, to the MRI and back, resulting in increased

patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical

care units. The features of the IRADIMED 3880 include: wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo algorithms;

non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature, and; optional advanced multi-gas anesthetic

agent unit featuring continuous Minimum Alveolar Concentration measurements. The IRADIMED 3880 MRI compatible patient vital signs monitoring