Quarterly ResultApr 30, 2026, 05:27 PM
IRTC Q1 Revenue +25.7% to $199.4M; Net Loss Narrows to $13.9M
AI Summary
iRhythm Holdings, Inc. reported a strong increase in revenue for the first quarter of 2026, rising 25.7% year-over-year to $199.4 million. The company also significantly narrowed its net loss to $13.9 million, or $0.43 per share, compared to a $30.7 million loss in the prior year period. However, net cash used in operating activities increased substantially, indicating higher operational cash burn despite improved profitability metrics. The company also completed a corporate holding company restructuring in January 2026.
Key Highlights
- IRTC Q1 2026 revenue increased 25.7% to $199.4 million from $158.7 million in Q1 2025.
- Net loss narrowed significantly to $13.9 million ($0.43 per share) in Q1 2026 from $30.7 million ($0.97 per share) in Q1 2025.
- Gross profit rose 29.4% to $141.4 million in Q1 2026 compared to $109.2 million in Q1 2025.
- Net cash used in operating activities increased to $26.2 million in Q1 2026 from $7.9 million in Q1 2025.
- Contracted third-party payors contributed $106.8 million (53%) of Q1 2026 revenue.
- Centers for Medicare & Medicaid Services (CMS) revenue was $51.4 million (26%) in Q1 2026.
- Total current assets decreased to $680.6 million at March 31, 2026, from $702.8 million at December 31, 2025.
- Total stockholders' equity increased to $161.2 million at March 31, 2026, from $152.7 million at December 31, 2025.
Price Impact
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