iRhythm Technologies (IRTC) Financials

$114.00 -0.16 (-0.14%)

Closing price 05/15/2026 04:00 PM Eastern

Extended Trading

$113.98 -0.02 (-0.02%)

As of 05/15/2026 06:02 PM Eastern

Annual Income Statements for iRhythm Technologies

This table shows iRhythm Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-23	-21	-30	-50	-55	-44	-101	-116	-123	-113	-45
Consolidated Net Income / (Loss)	-23	-21	-30	-50	-55	-44	-101	-116	-123	-113	-45
Net Income / (Loss) Continuing Operations	-23	-21	-30	-50	-55	-44	-101	-116	-123	-113	-45
Total Pre-Tax Income	-23	-21	-30	-50	-55	-44	-101	-116	-123	-113	-44
Total Operating Income	-22	-16	-28	-46	-55	-44	-100	-114	-125	-116	-57
Total Gross Profit	21	43	71	108	162	195	214	282	332	408	527
Total Revenue	36	64	99	147	215	265	323	411	493	592	747
Operating Revenue	36	64	99	147	215	265	323	411	493	592	747
Total Cost of Revenue	15	21	28	39	52	70	109	129	161	184	220
Operating Cost of Revenue	15	21	28	39	52	70	109	129	161	184	220
Total Operating Expenses	43	59	99	154	217	239	314	395	457	523	585
Selling, General & Admin Expense	37	52	85	133	180	197	275	322	386	419	493
Research & Development Expense	6.35	7.15	13	21	37	41	39	47	60	104	88
Impairment Charge	-	-	-	-	-	-	-	-	11	0.64	4.46
Total Other Income / (Expense), net	-1.06	-5.32	-2.15	-4.64	0.25	0.07	-1.05	-2.10	2.51	2.78	14
Interest Expense	1.06	3.25	3.39	6.14	1.64	1.52	1.17	4.14	3.65	20	13
Interest & Investment Income	-	-	-	-	-	-	-	2.35	6.35	22	22
Other Income / (Expense), net	-	-2.07	1.24	1.50	1.90	1.59	0.12	-0.31	-0.20	1.25	5.44
Income Tax Expense	-	0.00	0.00	0.04	0.07	0.23	0.37	0.27	0.75	0.57	0.95
Basic Earnings per Share	($16.57)	($3.95)	($1.31)	($2.11)	($2.16)	($1.58)	($3.46)	($3.88)	($4.04)	($3.63)	($1.39)
Weighted Average Basic Shares Outstanding	1.38M	5.29M	22.63M	23.89M	25.27M	27.75M	29.33M	29.92M	30.53M	31.20M	32.00M
Diluted Earnings per Share	($16.57)	($3.95)	($1.31)	($2.11)	($2.16)	($1.58)	($3.46)	($3.88)	($4.04)	($3.63)	($1.39)
Weighted Average Diluted Shares Outstanding	1.38M	5.29M	22.63M	23.89M	25.27M	27.75M	29.33M	29.92M	30.53M	31.20M	32.00M
Weighted Average Basic & Diluted Shares Outstanding	1.38M	5.29M	22.63M	23.89M	25.27M	27.75M	29.51M	30.22M	30.98M	31.41M	32.32M

This table shows iRhythm Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-27	-39	-46	-20	-46	-1.33	-31	-14	-5.21	5.58	-14
Consolidated Net Income / (Loss)	-27	-39	-46	-20	-46	-1.33	-31	-14	-5.21	5.58	-14
Net Income / (Loss) Continuing Operations	-27	-39	-46	-20	-46	-1.33	-31	-14	-5.21	5.58	-14
Total Pre-Tax Income	-27	-38	-46	-20	-46	-1.18	-30	-14	-5.19	6.03	-13
Total Operating Income	-28	-39	-38	-23	-50	-4.08	-33	-19	-8.43	2.29	-16
Total Gross Profit	82	87	88	103	101	115	109	133	137	148	141
Total Revenue	125	133	132	148	148	164	159	187	193	209	199
Operating Revenue	125	133	132	148	148	164	159	187	193	209	199
Total Cost of Revenue	42	45	44	45	46	49	49	54	56	61	58
Operating Cost of Revenue	42	45	44	45	46	49	49	54	56	61	58
Total Operating Expenses	110	127	126	126	152	119	142	152	146	146	158
Selling, General & Admin Expense	94	100	109	107	103	100	120	126	124	122	136
Research & Development Expense	16	15	17	20	48	19	22	23	21	22	22
Total Other Income / (Expense), net	0.68	0.74	-7.50	3.07	4.31	2.90	2.52	4.31	3.24	3.74	2.75
Interest Expense	0.93	0.94	10	3.31	3.33	3.32	3.27	3.28	3.28	3.32	3.29
Interest & Investment Income	1.72	-	3.06	6.69	6.46	-	4.92	5.32	5.94	5.34	4.88
Other Income / (Expense), net	-0.11	-2.96	-0.11	-0.31	1.18	-9.26	0.88	2.26	0.58	1.73	1.16
Income Tax Expense	0.20	0.26	0.03	0.19	0.19	0.15	0.67	-0.18	0.02	0.45	0.50
Basic Earnings per Share	($0.89)	($1.25)	($1.47)	($0.65)	($1.48)	($0.03)	($0.97)	($0.44)	($0.16)	$0.18	($0.43)
Weighted Average Basic Shares Outstanding	30.61M	30.53M	31.03M	31.15M	31.26M	31.20M	31.59M	31.99M	32.17M	32.00M	32.51M
Diluted Earnings per Share	($0.89)	($1.25)	($1.47)	($0.65)	($1.48)	($0.03)	($0.97)	($0.44)	($0.16)	$0.18	($0.43)
Weighted Average Diluted Shares Outstanding	30.61M	30.53M	31.03M	31.15M	31.26M	31.20M	31.59M	31.99M	32.17M	32.00M	32.51M
Weighted Average Basic & Diluted Shares Outstanding	30.65M	30.98M	31.10M	31.24M	31.30M	31.41M	31.93M	32.13M	32.22M	32.32M	32.86M

This table details how cash moves in and out of iRhythm Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	17	26	-43	11	0.44	68	39	-49	-43	392	-184
Net Cash From Operating Activities	-18	-17	-15	-29	-22	-14	-38	-23	-50	3.39	81
Net Cash From Continuing Operating Activities	-18	-17	-15	-29	-22	-14	-38	-23	-50	3.39	81
Net Income / (Loss) Continuing Operations	-23	-21	-30	-50	-55	-44	-101	-116	-123	-113	-45
Consolidated Net Income / (Loss)	-23	-21	-30	-50	-55	-44	-101	-116	-123	-113	-45
Depreciation Expense	0.49	0.57	1.60	2.27	3.45	6.90	9.84	13	16	21	21
Amortization Expense	0.12	0.26	-0.09	-0.70	8.11	6.46	8.39	5.77	0.77	6.51	5.67
Non-Cash Adjustments To Reconcile Net Income	3.02	10	21	33	51	73	92	136	152	188	181
Changes in Operating Assets and Liabilities, net	1.16	-6.73	-7.21	-13	-30	-56	-46	-62	-96	-99	-82
Net Cash From Investing Activities	-1.79	-68	-35	34	-89	-132	105	-52	-1.21	-123	-277
Net Cash From Continuing Investing Activities	-1.79	-68	-35	34	-89	-132	105	-52	-1.21	-123	-277
Purchase of Property, Plant & Equipment	-1.79	-2.76	-3.56	-5.18	-20	-14	-28	-30	-40	-34	-46
Acquisitions	-	-	-	-	-	-	-	0.00	0.00	-15	0.00
Purchase of Investments	-	-65	-130	-93	-166	-278	-122	-189	-167	-175	-468
Sale and/or Maturity of Investments	-	-	99	132	97	159	256	166	207	101	238
Net Cash From Financing Activities	36	111	6.53	6.30	112	214	-29	27	8.82	511	13
Net Cash From Continuing Financing Activities	36	111	6.53	6.30	112	214	-29	27	8.82	511	13
Repayment of Debt	-4.91	-	0.00	-34	0.00	-1.94	-12	-21	0.00	-136	0.00
Repurchase of Common Equity	-	-	-	-	-	-	-	0.00	0.00	-25	0.00
Issuance of Debt	29	-	0.00	35	-	0.00	0.00	35	0.00	736	0.00
Issuance of Common Equity	-	114	-	9.32	9.50	20	8.94	13	8.82	8.47	13
Other Financing Activities, net	0.30	-3.18	6.53	-3.88	102	196	-26	0.00	0.00	-72	0.00
Other Net Changes in Cash	-	-	-	-	-	-	-	0.00	-0.17	-0.01	0.00
Cash Interest Paid	0.34	1.59	1.55	6.07	1.64	1.50	1.19	3.32	2.96	6.39	9.92
Cash Income Taxes Paid	-	-	-	-	-	0.00	0.00	0.29	1.13	0.92	1.20

This table details how cash moves in and out of iRhythm Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-14	-11	493	30	-31	-100	-44	-66	-54	-20	4.13
Net Cash From Operating Activities	1.20	-16	-52	12	24	19	-7.89	28	35	26	-26
Net Cash From Continuing Operating Activities	1.20	-16	-52	12	24	19	-7.89	28	35	26	-26
Net Income / (Loss) Continuing Operations	-27	-39	-46	-20	-46	-1.33	-31	-14	-5.21	5.58	-14
Consolidated Net Income / (Loss)	-27	-39	-46	-20	-46	-1.33	-31	-14	-5.21	5.58	-14
Depreciation Expense	4.07	4.91	5.13	5.16	5.14	5.29	5.21	5.11	5.17	5.25	5.04
Amortization Expense	0.08	0.14	0.91	1.75	2.02	1.82	1.57	1.54	1.30	1.26	1.58
Non-Cash Adjustments To Reconcile Net Income	33	51	43	40	64	34	52	49	43	39	48
Changes in Operating Assets and Liabilities, net	-8.98	-33	-55	-15	-0.65	-20	-36	-13	-9.77	-25	-67
Net Cash From Investing Activities	-15	1.40	40	15	-55	-122	-38	-101	-89	-49	30
Net Cash From Continuing Investing Activities	-15	1.40	40	15	-55	-122	-38	-101	-89	-49	30
Purchase of Property, Plant & Equipment	-9.09	-14	-9.78	-8.49	-8.83	-6.84	-9.42	-10	-15	-12	-6.91
Purchase of Investments	-36	-55	-2.43	-15	-40	-118	-34	-135	-173	-126	-96
Sale and/or Maturity of Investments	30	70	52	38	8.50	2.50	5.60	45	99	89	133
Net Cash From Financing Activities	0.07	3.47	505	3.79	-0.04	2.99	1.73	7.09	0.83	2.96	0.15
Net Cash From Continuing Financing Activities	0.07	3.47	505	3.79	-0.04	2.99	1.73	7.09	0.83	2.96	0.15
Issuance of Common Equity	0.07	3.47	0.60	4.73	0.15	2.99	1.73	7.09	0.83	2.96	0.15
Effect of Exchange Rate Changes	-	-	-	-	-	-	-0.02	-	-	-	-0.06
Cash Interest Paid	0.77	0.77	1.60	-	4.79	-	4.96	-	4.96	-	4.96
Cash Income Taxes Paid	0.51	0.34	0.01	0.35	0.24	0.32	0.39	0.26	0.29	0.26	-0.09

This table presents iRhythm Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	38	138	133	118	306	512	463	448	433	931	1,020
Total Current Assets	33	119	120	104	173	378	306	289	231	646	703
Cash & Equivalents	25	52	-	20	20	89	128	79	36	420	236
Short-Term Investments	-	54	-	58	120	247	112	134	98	116	348
Accounts Receivable	5.58	9.41	13	20	24	30	46	50	61	80	76
Inventories, net	1.15	1.39	-	2.06	4.04	5.31	10	15	14	14	22
Prepaid Expenses	0.81	1.67	-	4.10	4.34	7.36	9.69	11	22	16	22
Plant, Property, & Equipment, net	2.04	4.65	6.30	9.16	26	34	56	76	104	125	152
Total Noncurrent Assets	3.01	15	0.00	4.07	107	100	102	84	98	161	166
Long-Term Investments	-	11	-	0.00	8.03	-	-	-	3.00	62	70
Goodwill	0.86	0.86	-	0.86	0.86	0.86	0.86	0.86	0.86	0.86	0.86
Other Noncurrent Operating Assets	2.15	3.05	-	3.21	98	99	101	83	94	98	95
Total Liabilities & Shareholders' Equity	38	138	133	118	306	512	463	448	433	931	1,020
Total Liabilities	42	46	70	65	171	170	183	208	223	841	867
Total Current Liabilities	8.78	13	21	30	52	66	88	89	107	111	152
Accounts Payable	1.46	2.10	-	2.28	8.24	4.37	11	7.52	5.54	7.22	2.26
Accrued Expenses	6.70	10	16	27	33	41	51	65	83	85	129
Current Deferred Revenue	0.51	0.95	-	1.22	1.25	0.93	3.05	3.05	3.31	2.93	4.20
Other Current Liabilities	-	-	-	0.00	7.91	8.17	11	13	15	16	17
Total Noncurrent Liabilities	34	32	54	35	119	104	96	119	116	730	715
Long-Term Debt	31	32	-	35	33	21	9.69	35	35	646	650
Other Noncurrent Operating Liabilities	3.05	0.13	54	0.00	86	83	86	84	81	83	66
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-102	93	-157	52	135	342	280	240	210	91	153
Total Preferred & Common Equity	-102	93	79	52	135	342	280	240	210	91	153
Preferred Stock	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-102	93	-157	52	135	342	280	240	210	91	153
Common Stock	4.64	220	-	258	396	646	686	762	856	875	981
Retained Earnings	-106	-127	-157	-206	-260	-305	-406	-522	-646	-759	-803
Treasury Stock	-	-	-	-	-	-	-	-	0.00	-25	-25
Accumulated Other Comprehensive Income / (Loss)	-	-0.01	-	-0.02	0.08	0.01	-0.06	-0.40	-0.11	0.17	0.40

This table presents iRhythm Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	440	422	429	440	910	919	910	926	964	995	1,006
Total Current Assets	286	254	242	234	687	678	628	636	664	680	681
Cash & Equivalents	71	53	62	47	520	551	520	375	309	256	240
Short-Term Investments	132	124	103	111	49	11	2.50	145	236	310	309
Accounts Receivable	61	50	51	50	90	86	77	81	82	76	81
Inventories, net	14	16	14	14	15	15	15	14	18	20	24
Prepaid Expenses	7.33	12	12	12	14	15	13	20	18	19	26
Plant, Property, & Equipment, net	72	82	90	97	112	118	122	131	140	149	157
Total Noncurrent Assets	83	86	98	109	110	124	159	159	160	166	169
Long-Term Investments	-	-	-	-	-	-	59	63	65	68	73
Goodwill	0.86	0.86	0.86	0.86	0.86	0.86	0.86	0.86	0.86	0.86	0.86
Other Noncurrent Operating Assets	82	85	97	108	109	123	99	96	95	97	95
Total Liabilities & Shareholders' Equity	440	422	429	440	910	919	910	926	964	995	1,006
Total Liabilities	201	200	206	220	819	820	838	839	860	873	845
Total Current Liabilities	84	82	89	102	97	98	100	111	132	147	132
Accounts Payable	7.40	9.78	7.15	7.21	8.44	13	7.59	12	13	8.28	8.56
Accrued Expenses	60	55	64	77	70	66	74	80	100	118	102
Current Deferred Revenue	3.00	3.49	3.70	3.38	3.07	3.15	3.03	3.28	3.50	4.22	4.06
Other Current Liabilities	13	14	14	15	15	15	16	16	16	17	17
Total Noncurrent Liabilities	118	118	116	118	723	722	738	728	728	726	713
Long-Term Debt	35	35	35	35	644	645	646	647	648	649	650
Other Noncurrent Operating Liabilities	83	83	81	83	79	77	92	81	80	78	63
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	239	222	224	220	90	99	72	87	104	122	161
Total Preferred & Common Equity	239	222	224	220	90	99	72	87	104	122	161
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	239	222	224	220	90	99	72	87	104	122	161
Common Stock	742	783	804	827	807	835	854	901	932	956	1,004
Retained Earnings	-502	-561	-580	-607	-691	-711	-758	-790	-804	-809	-817
Treasury Stock	-	-	-	-	-25	-25	-25	-25	-25	-25	-25
Accumulated Other Comprehensive Income / (Loss)	-0.68	-0.07	-0.15	-0.02	-0.09	0.18	-0.07	0.14	-0.03	0.29	0.04

This table displays calculated financial ratios and metrics derived from iRhythm Technologies' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	66.17%	77.29%	54.72%	48.57%	45.68%	23.59%	21.74%	27.29%	19.90%	20.13%	26.24%
EBITDA Growth	-45.87%	19.94%	-47.65%	-71.51%	3.07%	30.47%	-184.07%	-16.34%	-14.03%	19.60%	70.64%
EBIT Growth	-46.50%	18.38%	-49.27%	-67.68%	-19.62%	20.39%	-137.22%	-14.30%	-9.87%	8.86%	54.52%
NOPAT Growth	-46.50%	27.96%	-77.07%	-65.60%	-19.84%	20.24%	-128.84%	-13.85%	-10.00%	7.71%	50.30%
Net Income Growth	-44.01%	8.32%	-42.28%	-69.39%	-8.32%	19.68%	-131.26%	-14.60%	-6.24%	8.20%	60.67%
EPS Growth	-37.51%	76.16%	66.84%	-61.07%	-2.37%	26.85%	-118.99%	-12.14%	-4.12%	10.15%	61.71%
Operating Cash Flow Growth	-15.22%	7.52%	10.45%	-95.11%	24.85%	37.07%	-174.39%	39.05%	-117.72%	106.77%	2,285.34%
Free Cash Flow Firm Growth	0.00%	-11.02%	320.28%	-334.27%	44.00%	5.94%	-91.45%	13.86%	-68.90%	16.25%	56.55%
Invested Capital Growth	0.00%	817.11%	-761.54%	117.41%	146.39%	81.06%	56.70%	-0.22%	75.78%	29.19%	6.20%
Revenue Q/Q Growth	0.00%	0.00%	11.34%	9.66%	8.78%	8.03%	0.94%	8.11%	4.21%	5.68%	6.34%
EBITDA Q/Q Growth	0.00%	0.00%	-24.19%	-1.54%	-5.74%	24.18%	-36.33%	9.74%	-19.61%	21.98%	21.54%
EBIT Q/Q Growth	0.00%	0.00%	-25.51%	-1.49%	-8.71%	15.29%	-29.74%	8.93%	-17.51%	16.42%	12.78%
NOPAT Q/Q Growth	0.00%	0.00%	-31.40%	-4.94%	-9.25%	15.72%	-29.25%	9.18%	-17.33%	23.31%	9.99%
Net Income Q/Q Growth	0.00%	0.00%	-21.20%	-10.53%	-1.92%	14.86%	-29.09%	9.57%	-17.64%	24.80%	13.43%
EPS Q/Q Growth	0.00%	0.00%	-123.99%	0.00%	0.00%	18.13%	-29.59%	10.39%	-17.10%	25.15%	13.13%
Operating Cash Flow Q/Q Growth	0.00%	21.85%	-22.97%	-2.29%	-2.28%	47.96%	-123.52%	52.68%	-132.45%	110.66%	9.45%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-346.99%	52.05%	23.03%	-22.71%	16.28%	-33.86%	22.78%	-7.42%
Invested Capital Q/Q Growth	0.00%	0.00%	-536.34%	115.80%	36.94%	-6.75%	-2.53%	-12.76%	12.48%	2.49%	8.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.32%	67.41%	71.55%	73.66%	75.54%	73.50%	66.16%	68.54%	67.35%	68.86%	70.57%
EBITDA Margin	-58.17%	-26.27%	-25.07%	-28.94%	-19.25%	-10.83%	-25.27%	-23.10%	-21.97%	-14.70%	-3.42%
Operating Margin	-59.85%	-24.32%	-27.83%	-31.02%	-25.52%	-16.47%	-30.96%	-27.69%	-25.40%	-19.52%	-7.68%
EBIT Margin	-59.85%	-27.55%	-26.59%	-30.00%	-24.64%	-15.87%	-30.92%	-27.77%	-25.44%	-19.30%	-6.96%
Profit (Net Income) Margin	-63.09%	-32.62%	-30.00%	-34.21%	-25.43%	-16.53%	-31.40%	-28.27%	-25.05%	-19.14%	-5.96%
Tax Burden Percent	100.48%	100.00%	100.00%	100.09%	100.12%	100.53%	100.36%	100.23%	100.61%	100.50%	102.19%
Interest Burden Percent	104.90%	118.40%	112.85%	113.90%	103.11%	103.61%	101.17%	101.57%	97.84%	98.66%	83.90%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-3,622.42%	-256.55%	0.00%	0.00%	-250.57%	-99.97%	-138.34%	-129.15%	-103.14%	-65.16%	-27.86%
ROIC Less NNEP Spread (ROIC-NNEP)	-3,907.92%	-231.42%	0.00%	0.00%	-229.88%	-93.59%	-126.26%	-110.71%	-77.58%	57.64%	-47.35%
Return on Net Nonoperating Assets (RNNOA)	4,629.44%	209.07%	0.00%	0.00%	192.38%	81.59%	105.70%	84.42%	48.28%	-10.12%	-8.71%
Return on Equity (ROE)	1,007.02%	-47.49%	92.59%	96.27%	-58.19%	-18.38%	-32.64%	-44.73%	-54.86%	-75.27%	-36.57%
Cash Return on Invested Capital (CROIC)	-3,822.42%	-417.23%	0.00%	-1,036.41%	-335.09%	-157.65%	-182.52%	-128.93%	-158.10%	-90.63%	-33.88%
Operating Return on Assets (OROA)	-57.12%	-20.06%	-19.41%	-35.22%	-24.95%	-10.29%	-20.48%	-25.04%	-28.45%	-16.75%	-5.33%
Return on Assets (ROA)	-60.20%	-23.75%	-21.91%	-40.16%	-25.76%	-10.72%	-20.80%	-25.50%	-28.00%	-16.60%	-4.57%
Return on Common Equity (ROCE)	22,601.08%	4.89%	92.59%	96.27%	-58.19%	-18.38%	-32.64%	-44.73%	-54.86%	-75.27%	-36.57%
Return on Equity Simple (ROE_SIMPLE)	22.43%	-22.58%	-37.48%	-96.63%	-40.30%	-12.83%	-36.26%	-48.44%	-58.74%	-124.62%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-11	-19	-32	-38	-31	-70	-80	-88	-81	-40
NOPAT Margin	-41.90%	-17.02%	-19.48%	-21.72%	-17.86%	-11.53%	-21.67%	-19.38%	-17.78%	-13.66%	-5.38%
Net Nonoperating Expense Percent (NNEP)	285.51%	-25.14%	98.43%	58.60%	-20.69%	-6.38%	-12.08%	-18.44%	-25.56%	-122.80%	19.48%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-28.99%	-35.75%	-10.97%	-5.01%
Cost of Revenue to Revenue	40.68%	32.59%	28.45%	26.34%	24.46%	26.50%	33.84%	31.46%	32.65%	31.14%	29.43%
SG&A Expenses to Revenue	101.61%	80.57%	86.00%	90.52%	83.67%	74.38%	85.14%	78.41%	78.27%	70.72%	65.93%
R&D to Revenue	17.57%	11.16%	13.38%	14.16%	17.38%	15.59%	11.98%	11.34%	12.23%	17.54%	11.73%
Operating Expenses to Revenue	119.18%	91.73%	99.38%	104.68%	101.06%	89.97%	97.11%	96.23%	92.75%	88.37%	78.25%
Earnings before Interest and Taxes (EBIT)	-22	-18	-26	-44	-53	-42	-100	-114	-125	-114	-52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-21	-17	-25	-43	-41	-29	-82	-95	-108	-87	-26
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	7.17	0.00	32.23	13.39	20.05	12.39	11.76	15.62	31.04	37.43
Price to Tangible Book Value (P/TBV)	0.00	7.24	0.00	32.77	13.47	20.10	12.43	11.80	15.68	31.34	37.64
Price to Revenue (P/Rev)	0.00	10.36	12.99	11.41	8.45	25.83	10.73	6.86	6.66	4.77	7.65
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	75.51	0.00	185.32	78.09	166.15	52.56	42.89	29.36	20.52	38.45
Enterprise Value to Revenue (EV/Rev)	0.00	9.04	12.99	11.11	7.92	24.69	10.05	6.43	6.45	4.85	7.65
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	846.94	70.65
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	32.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.75	0.35	0.00	0.67	0.26	0.10	0.08	0.15	0.17	7.11	4.25
Long-Term Debt to Equity	-6.75	0.35	0.00	0.67	0.24	0.06	0.03	0.15	0.17	7.11	4.25
Financial Leverage	-1.18	-0.90	-0.33	-0.60	-0.84	-0.87	-0.84	-0.76	-0.62	-0.18	0.18
Leverage Ratio	-8.36	2.00	-4.23	-2.40	2.26	1.71	1.57	1.75	1.96	4.53	8.01
Compound Leverage Factor	-8.77	2.37	-4.77	-2.73	2.33	1.78	1.59	1.78	1.92	4.47	6.72
Debt to Total Capital	117.40%	25.83%	0.00%	40.10%	20.51%	8.81%	7.10%	12.72%	14.26%	87.67%	80.96%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.14%	3.11%	3.88%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	117.40%	25.83%	0.00%	40.10%	19.37%	5.70%	3.22%	12.72%	14.26%	87.67%	80.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	373.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-390.50%	74.17%	100.00%	59.90%	79.49%	91.19%	92.90%	87.28%	85.74%	12.33%	19.04%
Debt to EBITDA	-1.45	-1.91	0.00	-0.82	-0.85	-1.15	-0.26	-0.37	-0.32	-7.43	-25.42
Net Debt to EBITDA	-0.25	5.04	0.00	1.02	2.75	10.52	2.67	1.88	0.94	-0.56	0.16
Long-Term Debt to EBITDA	-1.45	-1.91	0.00	-0.82	-0.80	-0.74	-0.12	-0.37	-0.32	-7.43	-25.42
Debt to NOPAT	-2.02	-2.95	0.00	-1.09	-0.91	-1.08	-0.31	-0.44	-0.40	-8.00	-16.16
Net Debt to NOPAT	-0.35	7.78	0.00	1.36	2.97	9.89	3.11	2.24	1.16	-0.61	0.10
Long-Term Debt to NOPAT	-2.02	-2.95	0.00	-1.09	-0.86	-0.70	-0.14	-0.44	-0.40	-8.00	-16.16
Altman Z-Score	0.00	8.40	10.35	13.73	5.78	24.30	10.65	7.10	7.26	1.79	4.06
Noncontrolling Interest Sharing Ratio	-2,144.35%	110.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.74	8.98	5.60	3.44	3.32	5.75	3.48	3.24	2.15	5.82	4.63
Quick Ratio	3.51	8.74	0.61	3.24	3.16	5.56	3.25	2.95	1.82	5.55	4.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-16	-18	39	-92	-51	-48	-92	-80	-134	-112	-49
Operating Cash Flow to CapEx	-1,007.55%	-602.64%	-418.61%	-561.64%	-106.87%	-101.53%	-134.51%	-77.14%	-123.94%	9.99%	174.49%
Free Cash Flow to Firm to Interest Expense	-15.09	-5.46	11.54	-14.90	-31.20	-31.74	-78.96	-19.21	-36.79	-5.51	-3.71
Operating Cash Flow to Interest Expense	-17.00	-5.13	-4.40	-4.74	-13.31	-9.06	-32.30	-5.56	-13.73	0.17	6.15
Operating Cash Flow Less CapEx to Interest Expense	-18.69	-5.98	-5.46	-5.58	-25.76	-17.98	-56.30	-12.77	-24.80	-1.50	2.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.95	0.73	0.73	1.17	1.01	0.65	0.66	0.90	1.12	0.87	0.77
Accounts Receivable Turnover	6.48	8.55	8.80	8.95	9.83	9.86	8.46	8.53	8.85	8.37	9.60
Inventory Turnover	12.84	16.48	0.00	0.00	17.21	15.03	14.02	10.17	11.05	13.16	12.33
Fixed Asset Turnover	17.75	19.16	18.11	19.06	12.05	8.74	7.16	6.24	5.48	5.16	5.40
Accounts Payable Turnover	10.08	11.73	0.00	0.00	9.97	11.15	14.69	14.34	24.64	28.88	46.40
Days Sales Outstanding (DSO)	56.33	42.68	41.50	40.80	37.14	37.03	43.17	42.79	41.27	43.61	38.02
Days Inventory Outstanding (DIO)	28.43	22.15	0.00	0.00	21.21	24.28	26.03	35.89	33.04	27.74	29.61
Days Payable Outstanding (DPO)	36.23	31.13	0.00	0.00	36.60	32.74	24.84	25.44	14.82	12.64	7.87
Cash Conversion Cycle (CCC)	48.53	33.70	41.50	40.80	21.74	28.57	44.35	53.23	59.49	58.71	59.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.84	7.67	-51	8.83	22	39	62	62	108	140	149
Invested Capital Turnover	86.46	15.07	-4.61	-7.03	14.03	8.67	6.38	6.66	5.80	4.77	5.18
Increase / (Decrease) in Invested Capital	0.84	6.83	-58	60	13	18	22	-0.14	47	32	8.68
Enterprise Value (EV)	0.00	579	1,288	1,637	1,699	6,546	3,245	2,642	3,179	2,871	5,713
Market Capitalization	0.00	664	1,288	1,680	1,813	6,849	3,463	2,820	3,281	2,822	5,717
Book Value per Share	($73.85)	$4.18	($6.82)	$2.16	$5.09	$11.83	$9.50	$7.96	$6.85	$2.90	$4.74
Tangible Book Value per Share	($74.48)	$4.14	($6.82)	$2.12	$5.05	$11.80	$9.47	$7.94	$6.83	$2.88	$4.71
Total Capital	26	125	-157	87	170	375	301	275	245	737	802
Total Debt	31	32	0.00	35	35	33	21	35	35	646	650
Total Long-Term Debt	31	32	0.00	35	33	21	9.69	35	35	646	650
Net Debt	5.25	-85	0.00	-43	-114	-302	-218	-178	-102	49	-4.17
Capital Expenditures (CapEx)	1.79	2.76	3.56	5.18	20	14	28	30	40	34	46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.25	-0.75	98	-4.38	-18	-11	-9.80	-13	-10	-0.65	-33
Debt-free Net Working Capital (DFNWC)	24	105	98	74	123	324	229	200	123	535	551
Net Working Capital (NWC)	24	105	98	74	121	312	218	200	123	535	551
Net Nonoperating Expense (NNE)	7.66	10.00	10	18	16	13	31	37	36	32	4.37
Net Nonoperating Obligations (NNO)	5.36	-85	106	-43	-114	-302	-218	-178	-102	49	-4.17
Total Depreciation and Amortization (D&A)	0.61	0.83	1.51	1.57	12	13	18	19	17	27	26
Debt-free, Cash-free Net Working Capital to Revenue	-3.44%	-1.17%	99.24%	-2.98%	-8.33%	-4.30%	-3.03%	-3.28%	-2.10%	-0.11%	-4.40%
Debt-free Net Working Capital to Revenue	66.56%	164.49%	99.24%	50.22%	57.18%	122.12%	71.04%	48.59%	25.06%	90.38%	73.73%
Net Working Capital to Revenue	66.56%	164.49%	99.24%	50.22%	56.27%	117.72%	67.43%	48.59%	25.06%	90.38%	73.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($16.57)	($3.95)	($1.30)	($2.02)	($2.16)	($1.58)	($3.46)	($3.88)	($4.04)	($3.63)	($1.39)
Adjusted Weighted Average Basic Shares Outstanding	1.38M	22.15M	23.45M	24.46M	26.80M	29.16M	29.33M	29.92M	30.53M	31.20M	32.00M
Adjusted Diluted Earnings per Share	($16.57)	($3.95)	($1.30)	($2.02)	($2.16)	($1.58)	($3.46)	($3.88)	($4.04)	($3.63)	($1.39)
Adjusted Weighted Average Diluted Shares Outstanding	1.38M	22.15M	23.45M	24.46M	26.80M	29.16M	29.33M	29.92M	30.53M	31.20M	32.00M
Adjusted Basic & Diluted Earnings per Share	($16.57)	($3.95)	($1.30)	($2.02)	($2.16)	($1.58)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.38M	5.29M	22.63M	23.89M	25.27M	27.75M	29.51M	30.22M	30.98M	31.41M	32.32M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-11	-19	-32	-38	-31	-70	-61	-80	-80	-37
Normalized NOPAT Margin	-41.90%	-17.02%	-19.48%	-21.72%	-17.86%	-11.53%	-21.67%	-14.85%	-16.21%	-13.59%	-4.96%
Pre Tax Income Margin	-62.78%	-32.62%	-30.00%	-34.18%	-25.40%	-16.44%	-31.28%	-28.20%	-24.90%	-19.05%	-5.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-20.43	-5.44	-7.78	-7.19	-32.17	-27.70	-85.39	-27.57	-34.34	-5.60	-3.95
NOPAT to Interest Expense	-14.30	-3.36	-5.70	-5.21	-23.33	-20.13	-59.85	-19.25	-24.00	-3.96	-3.06
EBIT Less CapEx to Interest Expense	-22.11	-6.29	-8.84	-8.04	-44.62	-36.62	-109.40	-34.78	-45.42	-7.26	-7.47
NOPAT Less CapEx to Interest Expense	-15.99	-4.21	-6.76	-6.05	-35.78	-29.05	-83.86	-26.46	-35.08	-5.62	-6.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-22.07%	0.00%

This table displays calculated financial ratios and metrics derived from iRhythm Technologies' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	32,316,760.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	32,316,760.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.43
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.96%	17.67%	18.39%	19.27%	18.41%	24.01%	20.27%	26.10%	30.74%	27.12%	25.66%
EBITDA Growth	-13.31%	-124.33%	14.96%	27.30%	-78.11%	83.20%	22.66%	40.15%	96.72%	199.80%	66.28%
EBIT Growth	-31.42%	-103.59%	7.58%	4.79%	-77.26%	68.33%	17.16%	29.38%	84.02%	211.35%	52.58%
NOPAT Growth	-30.91%	-89.30%	3.46%	-21.77%	-82.24%	89.58%	14.64%	18.59%	83.24%	174.05%	50.29%
Net Income Growth	-26.41%	-91.60%	-16.77%	-8.79%	-70.31%	96.56%	32.77%	29.29%	88.71%	518.53%	54.62%
EPS Growth	-25.35%	-89.39%	-13.95%	-6.56%	-66.29%	97.60%	34.01%	32.31%	89.19%	700.00%	55.67%
Operating Cash Flow Growth	-67.40%	-227.00%	-69.18%	358.97%	1,935.70%	220.41%	84.83%	133.61%	43.27%	36.29%	-231.68%
Free Cash Flow Firm Growth	-104.11%	-416.41%	-200.52%	-225.05%	-67.75%	53.48%	92.75%	127.11%	91.06%	80.97%	-516.15%
Invested Capital Growth	36.32%	75.78%	105.47%	94.20%	41.79%	29.19%	-8.90%	-22.70%	0.62%	6.20%	25.55%
Revenue Q/Q Growth	0.38%	6.35%	-0.44%	12.22%	-0.34%	11.38%	-3.44%	17.65%	3.32%	8.30%	-4.55%
EBITDA Q/Q Growth	-76.79%	-57.38%	14.61%	66.75%	-333.10%	85.15%	-299.66%	60.65%	85.96%	864.97%	-179.78%
EBIT Q/Q Growth	-58.92%	-52.07%	10.20%	52.82%	-195.89%	72.83%	-137.42%	48.10%	52.26%	151.09%	-474.52%
NOPAT Q/Q Growth	-46.26%	-41.95%	2.66%	39.74%	-118.89%	91.88%	-697.35%	42.54%	54.94%	135.87%	-635.31%
Net Income Q/Q Growth	-46.72%	-42.72%	-18.01%	55.97%	-129.68%	97.11%	-2,203.08%	53.69%	63.34%	207.04%	-349.74%
EPS Q/Q Growth	-45.90%	-40.45%	-17.60%	55.78%	-127.69%	97.97%	-3,133.33%	54.64%	63.64%	212.50%	-338.89%
Operating Cash Flow Q/Q Growth	126.16%	-1,435.45%	-225.75%	122.76%	105.63%	-21.01%	-141.03%	450.51%	26.12%	-24.86%	-199.85%
Free Cash Flow Firm Q/Q Growth	-39.61%	-64.78%	-44.65%	6.12%	27.95%	54.31%	76.55%	451.14%	-123.76%	2.72%	-659.03%
Invested Capital Q/Q Growth	2.32%	12.48%	48.52%	10.55%	-25.29%	2.49%	7.63%	-6.20%	-2.75%	8.18%	27.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.19%	65.98%	66.34%	69.89%	68.78%	70.02%	68.83%	71.17%	71.09%	70.88%	70.89%
EBITDA Margin	-18.91%	-27.98%	-22.09%	-6.55%	-28.44%	-3.79%	-15.69%	-5.25%	-0.71%	5.04%	-4.21%
Operating Margin	-22.15%	-29.57%	-28.91%	-15.52%	-34.09%	-2.48%	-20.52%	-10.02%	-4.37%	1.09%	-8.12%
EBIT Margin	-22.24%	-31.80%	-26.67%	-11.21%	-33.29%	-8.12%	-19.97%	-8.81%	-4.07%	1.92%	-7.53%
Profit (Net Income) Margin	-21.76%	-29.20%	-34.61%	-13.58%	-31.30%	-0.81%	-19.35%	-7.62%	-2.70%	2.67%	-6.99%
Tax Burden Percent	100.72%	100.66%	100.07%	100.97%	100.41%	112.78%	102.21%	98.73%	100.46%	92.58%	103.72%
Interest Burden Percent	97.15%	91.23%	129.70%	119.95%	93.63%	8.86%	94.80%	87.58%	66.08%	150.24%	89.42%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.42%	0.00%
Return on Invested Capital (ROIC)	-87.86%	-120.05%	-84.53%	-42.17%	-114.84%	-8.30%	-56.26%	-28.46%	-15.70%	5.25%	-26.36%
ROIC Less NNEP Spread (ROIC-NNEP)	-82.53%	-112.00%	-27.40%	-24.79%	-77.53%	-14.07%	-67.65%	-30.32%	-13.98%	20.70%	-32.04%
Return on Net Nonoperating Assets (RNNOA)	52.52%	69.71%	5.83%	3.55%	15.63%	2.47%	-53.10%	-18.10%	-5.79%	3.81%	-11.86%
Return on Equity (ROE)	-35.34%	-50.34%	-78.70%	-38.62%	-99.21%	-5.83%	-109.35%	-46.56%	-21.48%	9.06%	-38.22%
Cash Return on Invested Capital (CROIC)	-120.23%	-158.10%	-139.59%	-128.73%	-125.15%	-90.63%	-39.41%	-20.05%	-33.22%	-33.88%	-39.57%
Operating Return on Assets (OROA)	-23.89%	-35.55%	-20.56%	-8.93%	-27.63%	-7.04%	-13.45%	-6.15%	-3.00%	1.47%	-6.14%
Return on Assets (ROA)	-23.38%	-32.65%	-26.68%	-10.82%	-25.98%	-0.70%	-13.04%	-5.32%	-1.99%	2.05%	-5.70%
Return on Common Equity (ROCE)	-35.34%	-50.34%	-78.70%	-38.62%	-99.21%	-5.83%	-109.35%	-46.56%	-21.48%	9.06%	-38.22%
Return on Equity Simple (ROE_SIMPLE)	-47.73%	0.00%	-143.94%	-132.66%	-209.93%	0.00%	-113.45%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-19	-27	-27	-16	-35	-2.86	-23	-13	-5.90	2.12	-11
NOPAT Margin	-15.51%	-20.70%	-20.24%	-10.87%	-23.87%	-1.74%	-14.36%	-7.01%	-3.06%	1.01%	-5.68%
Net Nonoperating Expense Percent (NNEP)	-5.34%	-8.05%	-57.13%	-17.37%	-37.32%	5.77%	11.39%	1.85%	-1.72%	-15.45%	5.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-11.19%	-	-	-	-0.39%	-3.11%	-1.74%	-0.77%	0.26%	-1.40%
Cost of Revenue to Revenue	33.81%	34.02%	33.66%	30.11%	31.22%	29.98%	31.17%	28.83%	28.91%	29.12%	29.11%
SG&A Expenses to Revenue	75.25%	75.55%	82.36%	72.11%	70.07%	60.71%	75.60%	67.69%	64.40%	58.41%	68.15%
R&D to Revenue	13.09%	11.63%	12.88%	13.30%	32.37%	11.80%	13.75%	12.16%	11.06%	10.43%	10.86%
Operating Expenses to Revenue	88.34%	95.55%	95.24%	85.41%	102.87%	72.51%	89.35%	81.19%	75.46%	69.78%	79.01%
Earnings before Interest and Taxes (EBIT)	-28	-42	-35	-17	-49	-13	-32	-16	-7.85	4.01	-15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-24	-37	-29	-9.69	-42	-6.23	-25	-9.80	-1.38	11	-8.40
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	13.11	15.62	39.38	33.76	32.31	31.04	37.94	47.42	45.33	37.43	23.66
Price to Tangible Book Value (P/TBV)	13.16	15.68	39.76	34.05	32.71	31.34	38.32	47.81	45.65	37.64	23.79
Price to Revenue (P/Rev)	6.10	6.66	6.93	6.23	4.14	4.77	5.32	7.48	7.86	7.65	4.84
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	28.66	29.36	21.97	18.78	17.46	20.52	22.26	35.07	40.35	38.45	20.32
Enterprise Value to Revenue (EV/Rev)	5.84	6.45	7.07	6.39	4.26	4.85	5.42	7.54	7.89	7.65	4.88
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	846.94	70.52	78.19	75.00	70.65	61.39
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.17	7.13	6.50	9.00	7.11	7.47	6.25	5.32	4.25	4.03
Long-Term Debt to Equity	0.16	0.17	7.13	6.50	9.00	7.11	7.47	6.25	5.32	4.25	4.03
Financial Leverage	-0.64	-0.62	-0.21	-0.14	-0.20	-0.18	0.78	0.60	0.41	0.18	0.37
Leverage Ratio	1.92	1.96	4.27	4.17	4.63	4.53	10.37	9.28	9.84	8.01	7.80
Compound Leverage Factor	1.86	1.79	5.53	5.01	4.33	0.40	9.84	8.13	6.50	12.03	6.97
Debt to Total Capital	13.72%	14.26%	87.71%	86.67%	90.00%	87.67%	88.19%	86.21%	84.18%	80.96%	80.13%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.72%	14.26%	87.71%	86.67%	90.00%	87.67%	88.19%	86.21%	84.18%	80.96%	80.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	86.28%	85.74%	12.30%	13.33%	10.00%	12.33%	11.81%	13.79%	15.82%	19.04%	19.87%
Debt to EBITDA	-0.39	-0.32	-6.66	-6.93	-5.79	-7.43	-8.12	-8.86	-19.92	-25.42	-71.87
Net Debt to EBITDA	1.37	0.94	-0.77	-0.90	-0.58	-0.56	-0.80	-0.51	-0.47	0.16	-3.08
Long-Term Debt to EBITDA	-0.39	-0.32	-6.66	-6.93	-5.79	-7.43	-8.12	-8.86	-19.92	-25.42	-71.87
Debt to NOPAT	-0.47	-0.40	-7.43	-7.20	-6.13	-8.00	-8.41	-8.76	-14.53	-16.16	-22.64
Net Debt to NOPAT	1.65	1.16	-0.87	-0.93	-0.61	-0.61	-0.83	-0.51	-0.35	0.10	-0.97
Long-Term Debt to NOPAT	-0.47	-0.40	-7.43	-7.20	-6.13	-8.00	-8.41	-8.76	-14.53	-16.16	-22.64
Altman Z-Score	7.16	7.90	2.76	2.65	1.63	2.15	2.39	3.55	3.98	4.25	2.96
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	2.15	7.10	6.92	6.27	5.82	5.71	5.02	4.63	4.63	5.17
Quick Ratio	2.04	1.82	6.80	6.61	5.99	5.55	5.40	4.75	4.37	4.34	4.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-45	-74	-112	-105	-75	-34	-8.08	28	-6.75	-6.56	-50
Operating Cash Flow to CapEx	13.16%	-118.16%	-532.21%	139.49%	275.61%	281.01%	-83.78%	266.75%	235.20%	223.59%	-379.04%
Free Cash Flow to Firm to Interest Expense	-48.51	-78.75	-10.67	-31.62	-22.66	-10.38	-2.47	8.66	-2.06	-1.98	-15.14
Operating Cash Flow to Interest Expense	1.29	-16.97	-4.98	3.57	7.31	5.79	-2.41	8.44	10.63	7.89	-7.96
Operating Cash Flow Less CapEx to Interest Expense	-8.51	-31.34	-5.91	1.01	4.66	3.73	-5.29	5.27	6.11	4.36	-10.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.07	1.12	0.77	0.80	0.83	0.87	0.67	0.70	0.74	0.77	0.82
Accounts Receivable Turnover	8.55	8.85	7.37	7.86	8.79	8.37	7.26	7.84	9.15	9.60	9.76
Inventory Turnover	10.65	11.05	10.85	11.79	12.56	13.16	12.97	11.74	12.04	12.33	11.98
Fixed Asset Turnover	5.62	5.48	5.28	5.18	5.11	5.16	5.09	5.11	5.17	5.40	5.48
Accounts Payable Turnover	20.48	24.64	18.61	17.13	24.33	28.88	18.58	15.16	26.25	46.40	22.28
Days Sales Outstanding (DSO)	42.69	41.27	49.53	46.42	41.55	43.61	50.26	46.56	39.89	38.02	37.41
Days Inventory Outstanding (DIO)	34.26	33.04	33.65	30.97	29.06	27.74	28.15	31.08	30.31	29.61	30.46
Days Payable Outstanding (DPO)	17.82	14.82	19.61	21.31	15.00	12.64	19.65	24.07	13.90	7.87	16.38
Cash Conversion Cycle (CCC)	59.13	59.49	63.57	56.08	55.60	58.71	58.76	53.56	56.30	59.76	51.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	96	108	165	183	136	140	151	141	137	149	189
Invested Capital Turnover	5.67	5.80	4.18	3.88	4.81	4.77	3.92	4.06	5.13	5.18	4.64
Increase / (Decrease) in Invested Capital	26	47	85	89	40	32	-15	-41	0.85	8.68	38
Enterprise Value (EV)	2,759	3,179	3,630	3,432	2,384	2,871	3,352	4,953	5,541	5,713	3,842
Market Capitalization	2,882	3,281	3,555	3,348	2,319	2,822	3,288	4,915	5,526	5,717	3,814
Book Value per Share	$7.19	$6.85	$2.91	$3.19	$2.30	$2.90	$2.76	$3.25	$3.79	$4.74	$4.99
Tangible Book Value per Share	$7.16	$6.83	$2.88	$3.16	$2.27	$2.88	$2.73	$3.22	$3.77	$4.71	$4.96
Total Capital	255	245	734	744	718	737	734	752	771	802	812
Total Debt	35	35	644	645	646	646	647	648	649	650	650
Total Long-Term Debt	35	35	644	645	646	646	647	648	649	650	650
Net Debt	-124	-102	75	84	65	49	64	38	15	-4.17	28
Capital Expenditures (CapEx)	9.09	14	9.78	8.49	8.83	6.84	9.42	10	15	12	6.91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-26	-10	22	18	5.77	-0.65	4.08	-14	-32	-33	-0.81
Debt-free Net Working Capital (DFNWC)	132	123	591	580	528	535	525	532	533	551	549
Net Working Capital (NWC)	132	123	591	580	528	535	525	532	533	551	549
Net Nonoperating Expense (NNE)	7.79	11	19	4.02	11	-1.53	7.91	1.12	-0.69	-3.46	2.60
Net Nonoperating Obligations (NNO)	-124	-102	75	84	65	49	64	38	15	-4.17	28
Total Depreciation and Amortization (D&A)	4.15	5.06	6.05	6.91	7.15	7.11	6.78	6.64	6.48	6.52	6.62
Debt-free, Cash-free Net Working Capital to Revenue	-5.60%	-2.10%	4.19%	3.38%	1.03%	-0.11%	0.66%	-2.10%	-4.57%	-4.40%	-0.10%
Debt-free Net Working Capital to Revenue	27.92%	25.06%	115.09%	107.92%	94.25%	90.38%	84.82%	80.90%	75.88%	73.73%	69.66%
Net Working Capital to Revenue	27.92%	25.06%	115.09%	107.92%	94.25%	90.38%	84.82%	80.90%	75.88%	73.73%	69.66%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.89)	($1.25)	($1.47)	($0.65)	($1.48)	($0.03)	($0.97)	($0.44)	($0.16)	$0.18	($0.43)
Adjusted Weighted Average Basic Shares Outstanding	30.61M	30.53M	31.03M	31.15M	31.26M	31.20M	31.59M	31.99M	32.17M	32.00M	32.51M
Adjusted Diluted Earnings per Share	($0.89)	($1.25)	($1.47)	($0.65)	($1.48)	($0.03)	($0.97)	($0.44)	($0.16)	$0.18	($0.43)
Adjusted Weighted Average Diluted Shares Outstanding	30.61M	30.53M	31.03M	31.15M	31.26M	31.20M	31.59M	31.99M	32.17M	32.00M	32.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	30.65M	30.98M	31.10M	31.24M	31.30M	31.41M	31.93M	32.13M	32.22M	32.32M	32.86M
Normalized Net Operating Profit after Tax (NOPAT)	-19	-27	-27	-16	-35	-2.86	-23	-11	-5.90	2.12	-11
Normalized NOPAT Margin	-15.51%	-20.70%	-20.24%	-10.87%	-23.56%	-1.74%	-14.36%	-6.09%	-3.06%	1.01%	-5.68%
Pre Tax Income Margin	-21.61%	-29.01%	-34.59%	-13.45%	-31.17%	-0.72%	-18.93%	-7.71%	-2.69%	2.88%	-6.74%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-29.89	-44.78	-3.37	-5.01	-14.76	-4.02	-9.68	-5.02	-2.39	1.21	-4.57
NOPAT to Interest Expense	-20.84	-29.15	-2.55	-4.86	-10.58	-0.86	-6.96	-4.00	-1.80	0.64	-3.44
EBIT Less CapEx to Interest Expense	-39.70	-59.15	-4.30	-7.58	-17.41	-6.08	-12.56	-8.18	-6.91	-2.32	-6.66
NOPAT Less CapEx to Interest Expense	-30.65	-43.51	-3.49	-7.42	-13.23	-2.92	-9.84	-7.16	-6.32	-2.89	-5.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-22.07%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, year-over-year look at iRhythm Technologies (IRTC) using the latest quarterly data provided (Q1–Q4 across 2023–2025). The data show solid topline growth and stable gross margins, with improving near-term cash flow in 2025, but also continued leverage and profitability challenges in several quarters.

Revenue growth and scale: Operating revenue rose across the period, from about $111.4M in Q1 2023 to $208.9M in Q4 2025, reflecting a multi-year growth trajectory.
Stable, healthy gross margin: Total gross margin consistently sits near the 70% range (e.g., Q4 2025 gross profit of $148.1M on $208.9M revenue, about 71%), indicating efficient core operations.
Positive cash flow from operations in 2025: Net cash from continuing operating activities was positive in 3 of 4 quarters in 2025 (Q4: $26.2M, Q3: $34.9M, Q2: $27.7M) with one negative quarter (Q1: -$7.9M), totaling roughly $80.9M in the four quarters combined.
Bottom-line improvement in at least one quarter: Net income attributable to common shareholders turned positive in Q4 2025 at about $5.6M, after quarterly losses in prior periods.
Liquidity strength in 2025: Cash and equivalents ranged from roughly $255M to $375M across 2025 quarters, providing solid near-term liquidity to support operations and capital needs.
Operating income volatility vs. gross profit: While gross profit remains strong, several quarters in 2024–2025 show negative total operating income (e.g., Q3 2025: -$8.4M; Q2 2025: -$18.7M; Q1 2025: -$30.3M), indicating profitability challenges at the operating level despite solid revenue and gross margin.
High leverage relative to equity: Long-term debt around $645–$648M and total liabilities near $860–$875M with relatively modest equity implied by quarterly balance sheets, signaling substantial leverage and tighter financial flexibility.
Significant investing cash outflows: Substantial net cash used in investing activities in 2024–2025 (e.g., purchases of investments and PPE) contributed to cash outflows: Q2 2025 around -$101.0M, Q3 2025 around -$89.2M, Q4 2025 around -$48.8M, and similar patterns in prior periods.
Recurring net losses across many quarters: Numerous quarters show net income declines (e.g., 2023–2024 periods frequently reported negative net income), underscoring ongoing profitability headwinds despite revenue growth.
Heavy investment activity relative to cash generation: The combination of sizable investing outflows and only modest financing activity suggests ongoing capital deployment that may pressure near-term liquidity if operating cash flow weakens.

05/17/26 07:04 PM ETAI Generated. May Contain Errors.

iRhythm Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, iRhythm Technologies' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

iRhythm Technologies' net income appears to be on an upward trend, with a most recent value of -$44.55 million in 2025, rising from -$22.80 million in 2015. The previous period was -$113.29 million in 2024. Find out what analysts predict for iRhythm Technologies in the coming months.

iRhythm Technologies' total operating income in 2025 was -$57.41 million, based on the following breakdown:

Total Gross Profit: $527.25 million
Total Operating Expenses: $584.66 million

Over the last 10 years, iRhythm Technologies' total revenue changed from $36.14 million in 2015 to $747.14 million in 2025, a change of 1,967.3%.

iRhythm Technologies' total liabilities were at $867.30 million at the end of 2025, a 3.2% increase from 2024, and a 1,945.5% increase since 2015.

In the past 10 years, iRhythm Technologies' cash and equivalents has ranged from $0.00 in 2017 to $419.60 million in 2024, and is currently $236.01 million as of their latest financial filing in 2025.

Over the last 10 years, iRhythm Technologies' book value per share changed from -73.85 in 2015 to 4.74 in 2025, a change of -106.4%.

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Financial statements for NASDAQ:IRTC last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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iRhythm Technologies (IRTC) Financials

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