| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 224.17 | 12.4% | 20.1% |
| Total Income | 224.17 | 12.4% | 20.1% |
| Expenditure | 226.71 | 5.2% | 10.4% |
| PBT | -0.38 | 97.2% | 97.4% |
| Net Profit | -0.38 | 97.3% | 97.3% |
| OPM | -1.13% | 6.98pp | 8.89pp |
| NPM | -0.17% | 6.82pp | 7.45pp |
| EPS | -0.01 | 97.7% | 97.7% |
iRhythm Holdings Reports Q2 2026 Financial Results, Revenue Up 20.1% YoY
07 Aug 2026 · 7 Aug, 1:56 am
Summary
iRhythm Holdings reported strong second quarter 2026 financial results, with revenue increasing by 20.1% year-over-year to $224.2 million, driven by robust volume and growth across various channels. Gross margin expanded by 160 basis points to 72.8%, attributed to operational efficiencies and scale benefits. The company significantly improved its net loss to $0.4 million and saw Adjusted EBITDA surge to $43.3 million. Management raised the full-year 2026 guidance for both revenue and adjusted EBITDA margin, reflecting confidence in continued growth and operational leverage.
Key Highlights
- 1
Revenue for the second quarter of 2026 reached $224.2 million, marking a 20.1% increase compared to the second quarter of 2025.
- 2
Gross margin improved to 72.8% in Q2 2026, a 160-basis point increase year-over-year.
- 3
The company reported a net loss of $0.4 million for Q2 2026, an improvement of $13.8 million compared to the net loss in the second quarter of 2025.
- 4
Adjusted EBITDA for Q2 2026 was $43.3 million, a significant $27.6 million improvement from the prior year's second quarter.
- 5
iRhythm increased its fiscal year 2026 revenue guidance to a range of $880 million to $890 million.
- 6
The company raised its fiscal year 2026 adjusted EBITDA margin guidance to between 13.0% and 14.0%.
Management Comments
Quentin Blackford
Our second quarter results reflect strong execution across the business, with broad-based growth, meaningful margin expansion, and continued progress against our strategic priorities. We are driving adoption across an increasingly diverse set of care settings and channels, including primary care, while continuing to invest in the capabilities that we believe will shape the future of healthcare. We are also thrilled to have entered into a definitive agreement to acquire VitalConnect, a transaction we believe will allow us to serve more patients, while also creating long-term value for clinicians and stockholders. This combination represents a significant next step in iRhythm's evolution from ambulatory cardiac monitoring to a broader cardiac monitoring and intelligence platform. VitalConnect adds complementary mobile cardiac telemetry (MCT), multi-vitals and hospital monitoring capabilities that complement Zio and meaningfully expand the categories of patients and customers we can serve. By bringing these capabilities onto iRhythm's commercial platform, we believe we can accelerate our growth, deepen customer partnerships and reach more patients across the continuum of care.
Mintu Turakhia
Ambulatory cardiac monitoring, including MCT, is not a one-size-fits all solution. Clinical needs, physician workflows, care settings and patient preferences vary, and no single monitoring model is optimal for every use case. VitalConnect complements Zio’s differentiated, uninterrupted monitoring experience by adding flexibility and additional capabilities across a broader range of clinical settings. Together, our platforms will offer clinicians greater choice while maintaining a shared focus on high-quality data and clinically actionable information, while creating synergy for future innovation.
Peter Van Haur
We believe that iRhythm is the right strategic partner to extend the reach and impact of VitalConnect's technology. By combining our flexible biosensor platform, AI-enabled algorithms and streamlined workflows with iRhythm's commercial scale and reach, we intend to bring a more compelling portfolio to a larger base of customers and patients than either company could deliver independently. Together, we expect to unlock new growth opportunities across ambulatory cardiac monitoring, inpatient monitoring and hospital-to-home care.
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