#USA #International Isotopes #Idaho Falls #Cobalt Products #Theranostics

International Isotopes Inc. Reports Record Growth for Q4 and Fiscal Year 2024

International Isotopes Inc., a prominent player in the radioisotope production industry, has recently disclosed its financial results for the fourth quarter and the entire fiscal year 2024. The data indicates a remarkable growth trajectory, underscored by a 24% increase in fourth-quarter revenues, reaching $3.9 million, and a 13% rise in annual revenues, amounting to $13.9 million.

In terms of net income, the fourth quarter experienced a staggering increase of 325%, totaling $245,819, up from a previous loss of $109,055 during the same period last year. For the entire fiscal year, net income also saw a significant recovery, rising to $8,574 from a loss of $869,016 in the prior year. The company's non-GAAP EBITDA showed an impressive 332% increase, reaching $615,934, with non-GAAP adjusted EBITDA soaring by 379% to $1,236,282.

Shahe Bagerdjian, President and CEO of International Isotopes, expressed his satisfaction with the results, stating, "2024 was another historic year for INIS, having posted record revenue in consecutive years alongside achieving operational profitability. The combined efforts in R&D, strategic marketing, and operational enhancements have been pivotal in unlocking significant improvements in our EBITDA metrics. Despite facing challenges in the first half due to raw material shortages, we concluded the year on a strong note and expect 2025 to maintain our upward momentum as we introduce new products and expand our market presence across all segments."

Segment Performance Overview

The revenues of International Isotopes from various segments reveal trends that contributed to the overall financial success:

1. Theranostics Products: This segment generated revenue of $1,748,905 in Q4 and $8,006,315 for the fiscal year. Comparatively, these figures reflect a minor quarterly decline of 3.4% but an annual growth of approximately 17%. The decrease for the quarter was attributed to the timing of orders after outages experienced by competitors, while the annual growth is mainly due to sustained demand for generic sodium iodide I-131 products used in thyroid cancer treatment.

2. Nuclear Medicine Standards: Revenue from this category amounted to $1,419,503 for Q4 and $3,519,216 for the entire fiscal year. The fourth quarter saw an increase of 14%, while the annual revenue indicated a decline of about 20%. This decline can be largely traced back to a global shortage of Cobalt-57 isotope, which hampered supply from January to July 2024.

3. Cobalt Products: This segment reported a significant revenue surge, generating $724,560 in Q4 and $2,365,572 annually, marking increases of 613% and 128% respectively compared to the prior year. The considerable quarterly growth is attributed to the timing and scale of high-value cobalt-60 source sales, indicating strong market demand.

4. Medical Devices Products: As a new segment for 2024, the Medical Devices category reported negligible sales. However, the company has invested heavily in this area, anticipating growth in 2025 with the launch of products like The Swirler® and Tru-Fit™ Mouthpiece under the RadVent brand. Investment into joint ventures aimed at enhancing product offerings further underlines this segment’s strategic importance.

Future Outlook

International Isotopes is committed to maintaining its growth trajectory. The ongoing improvements in supply chains and product introductions over the next year are expected to solidify the company’s market position and enhance its financial performance. As the world increasingly turns to nuclear medicine and isotopes for therapeutic purposes, the company is well-positioned to capitalize on these trends while continuing to innovate and expand its product lines.

In summary, International Isotopes Inc. has showcased remarkable resilience and adaptability in the face of challenges, achieving a robust financial performance in 2024. The company's proactive strategies in enhancing its operational capacity, combined with its commitment to innovation, suggest a promising outlook as it ventures into 2025 and beyond.