Company Performance - iRhythm Technologies reported a quarterly loss of $0.95 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.89, but an improvement from a loss of $1.47 per share a year ago, indicating a year-over-year improvement [1] - The company posted revenues of $158.68 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.34% and showing an increase from $131.93 million in the same quarter last year [2] - Over the last four quarters, iRhythm Technologies has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - iRhythm Technologies shares have increased by approximately 18.5% since the beginning of the year, contrasting with a decline of 5.3% in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is -$0.55 on revenues of $171.04 million, and for the current fiscal year, it is -$1.75 on revenues of $681.28 million [7] Industry Outlook - The Medical Info Systems industry, to which iRhythm Technologies belongs, is currently ranked in the top 18% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - The performance of iRhythm Technologies' stock may be influenced by the overall industry outlook, as empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]

Cautionary statement re forward-looking statements, non-GAAP measures and other matters Certain data in this presentation was obtained from various external sources, and neither "iRhythm Technologies, Inc. ("iRhythm" or the "Company") nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy of that third-party data or undertakes to updat ...

Financial Performance - Revenue increased by $26.7 million, or 20%, to $158.7 million for the three months ended March 31, 2025, compared to $131.9 million for the same period in 2024[159] - Gross profit rose by $21.7 million, or 25%, to $109.2 million for the three months ended March 31, 2025[159] - Adjusted EBITDA for the three months ended March 31, 2025, was a loss of $2.6 million, an improvement from a loss of $12.1 million in the same period of 2024[141] - Net loss decreased by $14.97 million, or 33%, to $30.7 million for the three months ended March 31, 2025, compared to a net loss of $45.7 million for the same period in 2024[159] Revenue Sources - The proportion of revenue from contracted third-party payors was 53% for the three months ended March 31, 2025, compared to 54% in the same period of 2024[137] Expenses - Research and development expenses increased by $4.5 million, or 27%, to $21.5 million for the three months ended March 31, 2025[159] - Selling, general and administrative expenses increased by $11.3 million, or 10%, to $120.0 million for the three months ended March 31, 2025, compared to $108.7 million in the same period of 2024[165] - Cost of revenue increased by $5.0 million, or 11%, to $49.5 million for the three months ended March 31, 2025, compared to $44.4 million for the same period in 2024[161] Cash Flow - Cash used in operating activities was $7.9 million for the three months ended March 31, 2025, a decrease of $44.1 million from $52.0 million used in the same period of 2024[176] - Cash used in investing activities was $38.1 million for the three months ended March 31, 2025, an increase of $78.1 million compared to cash provided by investing activities of $40.0 million in the prior year[177] - Cash provided by financing activities was $1.7 million for the three months ended March 31, 2025, a decrease of $502.9 million from $504.6 million in the same period of 2024[178] - As of March 31, 2025, the company had cash and cash equivalents of $375.3 million and marketable securities of $145.3 million[170] - The company reported cash, cash equivalents, and marketable securities of $520.6 million as of March 31, 2025, down from $535.6 million as of December 31, 2024[195] Agreements and Obligations - The company has achieved milestone payments totaling $11.0 million under the Development Agreement with Verily, with potential additional payments of $1.75 million[172] - The company entered into a Technology License Agreement with BioIntelliSense, Inc., which includes a $15.0 million upfront fee and $40.0 million in convertible promissory notes[173][174] - As of March 31, 2025, the company had approximately $67.7 million in open purchase orders and contractual obligations, with the majority due within one year[189] Interest and Debt - Interest income increased by $1.86 million, or 61%, to $4.92 million for the three months ended March 31, 2025[159] - A hypothetical 10% change in interest rates would have impacted interest income by $0.5 million for the three months ended March 31, 2025, compared to $0.3 million for the same period in 2024[196] - The company had $661.3 million in outstanding aggregate principal amount of fixed-rate debt related to its 2029 Notes, with an estimated fair value of $689.2 million as of March 31, 2025[197] - The 2029 Capped Calls are expected to reduce potential dilution to common stock upon conversion of the 2029 Notes[198] Risk Management - The company does not anticipate being exposed to material risks due to changes in interest rates[196] - As of March 31, 2025, there had not been a material change in foreign currency risk information disclosed in the previous annual report[199] - The company has not used any derivative financial instruments to manage interest rate risk exposure[196] - There were no material changes to the company's critical accounting estimates during the three months ended March 31, 2025[192] - The company evaluates its estimates and judgments based on historical experience and other reasonable factors[191] Operational Highlights - The company provided Zio Services to over eight million patients and collected over 2 billion hours of curated heartbeat data[135] - The utilization of home enrollment services for Zio patches has significantly increased, adapting to the needs of physicians and patients[144]

iRhythm (IRTC) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Speaker0 afternoon. Thank you for attending the iRhythm Technologies Inc. First Quarter twenty twenty five Earnings Conference Call. My name is Cameron, and I'll be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. Again, due to the interest of time, we ask that you ask one question and to re queue for any follow-up questions. I would now like to ...

Core Viewpoint - iRhythm Technologies has launched its Zio long-term continuous ECG monitoring system in Japan, offering up to 14 days of uninterrupted ECG monitoring, which is a significant improvement over existing options in the market [1][4]. Company Overview - iRhythm Technologies, Inc. is a leading digital health care company focused on creating solutions that detect, predict, and prevent disease through wearable biosensors and cloud-based data analytics [14]. - The company has a strong commitment to improving patient outcomes, supported by over 125 original research manuscripts and insights from more than 2 billion hours of curated heartbeat data [7]. Product Details - The Zio ECG Recording and Analysis System includes a patch-based ECG monitoring device that can be worn for up to 14 days and utilizes a deep-learned AI algorithm approved by Japan's Pharmaceuticals and Medical Devices Agency (PMDA) [3][5]. - The system demonstrates 99% patient compliance with prescribed wear time and 99% analyzable data, providing high-quality, actionable insights [5]. - The Zio service is associated with the highest diagnostic yield and lowest likelihood of retesting compared to other monitoring services, including Holter monitoring [5]. Market Opportunity - Japan is the second largest ambulatory cardiac monitoring market globally, with an estimated 1.6 million tests prescribed annually, a number expected to rise due to the aging population and increasing prevalence of cardiac arrhythmias [10][11]. - The launch of the Zio system is timely, addressing the growing demand for early and accurate detection of arrhythmias in Japan [4]. Clinical Validation - The clinical value of the Zio LTCM service has been validated through studies, including the CAMELOT study, which found it to be associated with the highest yield of specified arrhythmia diagnosis and the lowest likelihood of repeat testing [6][8]. - The Zio service combines advanced AI with expert clinical review to support accurate and timely diagnoses, enhancing patient care [8]. Distribution and Availability - The Zio ECG Recording and Analysis System will be available to healthcare customers in Japan starting May 2025, with nationwide availability expected by July 2025, through Senko Medical Instrument, the exclusive distribution partner [12].

SAN FRANCISCO, May 01, 2025 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today reported financial results for the three months ended March 31, 2025. First Quarter 2025 Financial Highlights Revenue of $158.7 million, a 20.3% increase compared to first quarter 2024Gross margin of 68.8%, a 250-basis point increase compared to first quarter 2024Unrestricted cash, cash equivale ...

Core Viewpoint - iRhythm Technologies, Inc. is actively participating in the Bank of America Securities 2025 Health Care Conference, showcasing its commitment to advancing digital health solutions [1][2]. Company Overview - iRhythm Technologies, Inc. is a leading digital health care company focused on creating solutions that detect, predict, and prevent disease through the use of wearable biosensors and cloud-based data analytics [3]. - The company utilizes proprietary algorithms to transform data from millions of heartbeats into clinically actionable information, aiming to enhance patient care and health outcomes [3]. Event Participation - iRhythm's management is scheduled to present at the conference on May 13, 2025, at 3:40 p.m. Pacific Time, with a live and archived webcast available for interested parties [2].

Core Insights - iRhythm Technologies, Inc. announced the results of the AVALON study, which is the largest real-world comparative evaluation of ambulatory cardiac monitoring (ACM) among commercially insured patients, demonstrating the clinical superiority of the Zio long-term continuous monitoring (LTCM) service [1][3][19] Study Findings - The AVALON study involved a cohort of 428,707 commercially insured patients, focusing on diagnostic yield, likelihood of repeat testing, and cardiovascular (CV) events [1][6][18] - Zio LTCM service showed the highest diagnostic yield at 26.5%, significantly outperforming other modalities such as non-iRhythm LTCM (18.4%), ambulatory event monitors (AEM) (17.0%), and Holter monitoring (14.7%) [10][19] - Zio LTCM service was 2.04 times more likely to result in a new arrhythmia diagnosis compared to Holter monitors and 1.69 times more likely compared to AEM [11][19] - The likelihood of retesting within 180 days was lowest for Zio LTCM, with all non-iRhythm LTCMs being 1.95 times more likely to require a retest [12][19] - Zio LTCM service was associated with the lowest adjusted odds of cardiovascular events within one year compared to other ACM modalities [13][19] Digital Engagement - The MyZio App, designed to enhance patient engagement and symptom logging, was associated with increased symptom reporting and improved symptom-rhythm correlation [4][21] - Among 164,563 patients, 18.4% used the MyZio App, which led to a 1.85-fold increase in rhythm-correlated diary entries compared to non-users [23][24] - The app users demonstrated greater engagement, with higher rates of episodes identified through both button presses and diary entries [23][24] Clinical Evidence Base - iRhythm has a comprehensive clinical evidence program with over 125 original research manuscripts and insights derived from more than 2 billion hours of curated heartbeat data [15][19] - The AVALON study builds on previous findings from the CAMELOT study, expanding the understanding of Zio LTCM's clinical impact across different patient demographics [3][8][19]

Core Viewpoint - iRhythm Technologies, Inc. will release its financial results for Q1 2025 on May 1, 2025, followed by a conference call to discuss the results [1]. Company Overview - iRhythm Technologies is a leading digital health care company focused on creating solutions that detect, predict, and prevent disease [3]. - The company utilizes wearable biosensors and cloud-based data analytics combined with proprietary algorithms to transform data from millions of heartbeats into clinically actionable information [3]. - iRhythm's vision emphasizes improving patient care through better data, insights, and health outcomes [3]. Conference Call Details - The conference call will begin at 1:30 p.m. PT / 4:30 p.m. ET on the same day as the financial results release [1]. - Interested parties can access a live and archived webcast of the conference call on the company's investor website [2].

Core Insights - iRhythm Technologies, Inc. has published its 2024 Corporate Sustainability Report, showcasing its commitment to sustainability and inclusivity in healthcare [1][2] Quality and Sustainable Technology Innovation - The company has enhanced its quality systems and improved customer experience through Electronic Health Record (EHR) integration and innovative product launches [5] - A strategic licensing agreement has been secured to advance connected patient care [5] - An Artificial Intelligence (AI) Governance Steering Committee has been formed to address AI risks and opportunities [5] Access and Health Equity - iRhythm has expanded globally by launching commercially in four European countries: Austria, the Netherlands, Spain, and Switzerland [5] - The company received regulatory approval from the Japanese Pharmaceutical and Medical Device Agency for the Zio 14-day, long-term continuous ECG monitoring system [5] Workforce and Inclusion - The company has refreshed its core values to shape its desired workplace culture [5] - The code of conduct has been revised to provide employees with resources and guidance for operating with integrity [5] - New recognition opportunities have been introduced to celebrate employees who embody the company's values [5] Environmental Impact - iRhythm completed an inventory of Scope 3 greenhouse gas emissions [5] - The company achieved 89.5% landfill waste diversion across its operations [5] - iRhythm obtained ISO 14001:2015 Environmental Management Systems Certification [5] - A life cycle analysis (LCA) of its products has been completed [5] - The company was named to Newsweek's list of America's Greenest Companies for 2025 [5]