IRADIMED CORPORATION Announces Fourth Quarter 2021 Financial Results Reports fourth quarter 2021 revenue of $11.9 million, GAAP diluted EPS of $0.31 and non-GAAP diluted EPS of $0.33 Announces full-year and first quarter

CORPORATION Announces Fourth Quarter 2021 Financial Results

Winter Springs, Florida, February 4, 2022 - 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 months and year ended December 31, 2021.

"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. We continue on the path of creating

significant momentum in demand for our products and expect this to carry on through 2022," said Roger Susi, President and Chief

Executive Officer of the Company.

"Despite the supply chain and covid-related challenges we faced

this year, our teams continued working diligently. I am proud of this organization for remaining focused on our mission and the important

work we do every day," said Susi.

Three Months Ended December 31, 2021

For the fourth quarter ended December 31, 2021, the Company reported

revenue of $11.9 million compared to $8.5 million for the fourth quarter 2020. Net income was $3.9 million, or $0.31 per diluted share,

compared to $0.6 million, or $0.05 per diluted share for the fourth quarter 2020. The increase in net income and diluted earnings per

share is primarily the result of a $3.3 million increase in revenue and a $0.8 million tax benefit for the fourth quarter 2021.

Non-GAAP net income was $4.2 million, or $0.33 per diluted share, for

the quarter ended December 31, 2021, and excludes $0.3 million of stock compensation expense, net of tax expense. Non-GAAP net income

for the quarter ended December 31, 2020 was $0.9 million, or $0.07 per diluted share, and excludes $0.2 million of stock compensation

expense, net of tax.

Year Ended December 31, 2021

For the year ended December 31, 2021, the Company reported

revenue of $41.8 million compared to $31.7 million for the same period in 2020. Net income was $9.3 million, or $0.74 per diluted

share, compared to $1.4 million, or $0.11 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 $10.1 million increase in revenue and a $2.5 million decrease in general and

administrative expenses, partially offset by a $2.5 million increase in income tax expense for the year ended December 31, 2021.

During the year ended December 31, 2020, the Company recognized total general and administrative expense of $3.2 million related to

Non-GAAP net income was $10.4 million, or $0.83 per diluted share,

for the year ended December 31, 2021, and excludes $1.1 million of stock compensation expense, net of tax expense. Non-GAAP net income

for the year ended December 31, 2020 was $5.0 million, or $0.40 per diluted share, which excludes $1.3 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.

Revenue Information:

For the fourth quarter 2021, domestic sales were 79.8 percent of total

revenue, compared to 83.1 percent for the fourth quarter 2020. Gross profit margin was 77.9 percent for the fourth quarter 2021, compared

to 75.3 percent for the fourth quarter 2020.

For the year ended December 31, 2021, domestic sales were 80.0 percent

of total revenue, compared to 77.4 percent for the same period in 2020. Gross profit margin was 76.6 percent for the year ended December

31, 2021, compared to 74.3 percent for the same period in 2020.

For the year ended December 31, 2021, cash from operations was $11.3

million, compared to $5.8 million for the same period in 2020.

quarter ended December 31, 2021, free cash flow was $3.3 million, compared to $2.4 million for the fourth quarter 2020. For the year ended

December 31, 2021, free cash flow was $10.8 million, compared to $5.4 million

for the same period in 2020.

For the full year 2022, the Company expects to report revenue of $51.4

million to $52.2 million, GAAP diluted earnings per share of $0.82 to $0.90, and non-GAAP diluted earnings per share of $0.91 to $1.01,

which assumes a normalized tax rate.

For the first quarter 2022, the Company expects to report revenue of

$12.1 million to $12.3 million, GAAP diluted earnings per share of $0.16 to $0.18, and non-GAAP diluted earnings per share of $0.20 to

$0.21, which assumes a normalized tax rate.

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 $1.4 million and $0.3 million for the full

year and first quarter 2022, 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

through various means.

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.

iRadimed has scheduled

a conference call to discuss this announcement beginning at 11:00 a.m. Eastern Time today, February 4, 2022. 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 2899922.

The 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.

About iRadimed Corporation

iRadimed 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.

Our 3880 MRI compatible patient vital signs monitoring system has been