| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 221.59 | 1.1% | 14.9% |
| Total Income | 221.59 | 1.1% | 14.9% |
| Expenditure | 254.15 | 12.1% | 26.3% |
| PBT | -29.85 | 7755.3% | 475.1% |
| Net Profit | -29.85 | 7755.3% | 472.9% |
| OPM | -14.69% | 13.56pp | 10.32pp |
| NPM | -13.47% | 13.30pp | 10.77pp |
| EPS | -0.90 | 8900.0% | 462.5% |
iRhythm Holdings Announces Third Quarter 2026 Financial Results
06 Nov 2026 · 6 Nov, 2:54 am
Summary
iRhythm Holdings reported third quarter 2026 revenue of $221.6 million, a 14.9% increase year-over-year, driven by strong demand for Zio Monitor and expansion into new channels. Gross margin improved significantly to 74.2%, a 310-basis point increase, attributed to operational efficiencies and a one-time tariff refund. While reporting a GAAP net loss of $29.9 million, the company achieved adjusted EBITDA of $51.2 million, a substantial improvement from the prior year. Management raised full-year 2026 guidance for both revenue and adjusted EBITDA margin, reflecting confidence in continued growth and strategic execution, including the recent acquisition of VitalConnect.
Key Highlights
- 1
Revenue for the third quarter of 2026 was $221.6 million, an increase of 14.9% compared to the third quarter of 2025.
- 2
Gross margin for the third quarter of 2026 was 74.2%, a 310-basis point increase compared to the third quarter of 2025.
- 3
GAAP net loss for the third quarter of 2026 was $29.9 million, or a net loss per diluted share of $0.90.
- 4
Adjusted EBITDA for the third quarter of 2026 was $51.2 million, representing a 23.1% margin and a $29.6 million improvement compared to the third quarter of 2025.
- 5
The company increased its fiscal year 2026 revenue guidance to $890 million to $895 million and adjusted EBITDA margin guidance to 15.5% to 16.0%.
- 6
Unrestricted cash, cash equivalents, and marketable securities totaled $560.7 million as of September 30, 2026.
Management Comments
Quentin Blackford
Our third quarter results reflect the continued strength of our core business. Demand for Zio Monitor remains robust, exceeding our expectations in the quarter, driven by volume growth across care settings and channels. We also continued to take meaningful steps forward with significant margin expansion, and consistent execution against our strategic priorities. With the acquisition of VitalConnect now closed, we are encouraged by the early opportunities we see to broaden our capabilities and serve more patients within the ambulatory cardiac monitoring market and across the continuum of care. With an immediate FDA-cleared mobile cardiac telemetry device, we are excited to be able to offer the marketplace a best-in-class MCT portfolio of options. We remain focused on advancing innovation, expanding access to Zio, and investing in the growth initiatives that we believe will create durable value for patients, clinicians, and stockholders.
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