iRhythm Holdings, Inc.

iRhythm Holdings, Inc. announced that its Board of Directors has approved a new share repurchase program authorizing the company to buy back up to $200.0 million of its outstanding common stock. The repurchases can be executed through various methods, including open market transactions and accelerated share repurchases, with the timing and amount determined at the company's discretion based on market conditions and corporate needs. The company intends to fund these repurchases using its existing cash reserves and cash generated from operations. This move reflects confidence in the company's core business and growth opportunities, particularly following the acquisition of VitalConnect.

iRhythm Holdings, Inc. announced that Brian Yoor resigned from its Board of Directors and as chair of the Audit Committee, effective August 12, 2026. His departure was attributed to personal reasons and not any disagreement with the company's operations or policies. Following his resignation, the Board appointed Karen McGinnis, an existing member of the Board and Audit Committee, as the new chair of the Audit Committee, also effective August 12, 2026.

iRhythm Holdings, Inc. reported strong financial improvements for the second quarter and first half of 2026. Quarterly revenue increased by 20.1% to $224.2 million, while the net loss narrowed substantially to $(0.4) million from $(14.2) million in the prior year. For the six months ended June 30, 2026, the company's net loss also decreased significantly to $(14.3) million, compared to $(44.9) million in the same period last year, driven by robust revenue growth and improved gross profit.

iRhythm Holdings, Inc. announced it will acquire Vital Connect, Inc. through a merger agreement. The total consideration for the acquisition is $287.5 million, comprising $237.5 million in cash and $50 million in iRhythm common stock. The acquisition is anticipated to close by the end of 2026, subject to customary closing conditions and regulatory approvals. Additionally, iRhythm will provide Vital Connect with interim funding of up to $30 million to support its operations until the acquisition is complete.

iRhythm Holdings announced a definitive agreement to acquire Vital Connect, Inc. for approximately $287.5 million, expanding its cardiac monitoring platform and addressable market. The company also reported strong second-quarter 2026 financial results, with revenue up 20.1% to $224.2 million and a significant improvement in net loss and adjusted EBITDA. Additionally, iRhythm settled patent litigation with Baxter, agreeing to a $50 million payment and cross-licensing of patents, and raised its full-year 2026 financial guidance.

iRhythm Holdings, Inc. announced a definitive agreement to acquire Vital Connect, Inc., a leader in wearable biosensor technology and ambulatory cardiac monitoring, for approximately $287.5 million. The consideration will consist of $237.5 million in cash and $50 million in iRhythm common stock, with the cash funded from iRhythm's balance sheet. This acquisition is expected to immediately broaden iRhythm's cardiac monitoring portfolio, including mobile cardiac telemetry and multi-vitals monitoring, and enhance its revenue growth rate beginning in 2027 while preserving its 15% adjusted EBITDA margin target for 2027. The transaction is anticipated to close by the end of 2026.

iRhythm Holdings, Inc. announced it will release its financial results for the second quarter of 2026 after the close of trading on Thursday, August 6, 2026. The company's management team will host a conference call on the same day at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. A webcast of the conference call will be available on the investor section of iRhythm's website.

iRhythm Holdings, Inc. identified unauthorized activity on certain third-party-hosted business applications on June 8, 2026, leading to a material cybersecurity incident. A threat actor claimed to have exfiltrated sensitive information, including proprietary data, patient protected health information, and other personal information, demanding payment. The company confirmed data exfiltration and deemed the incident material on June 10, 2026, due to the volume of potentially affected data. Despite the breach, iRhythm has not identified any impact to its products, clinical systems, patient safety, operations, or financial reporting, and believes the incident is not reasonably likely to materially impact its financial condition or results of operations.

iRhythm Technologies, a wholly owned subsidiary of iRhythm Holdings, Inc., has entered into a binding Settlement Agreement to fully resolve a previously-disclosed putative class action securities litigation. The settlement involves a payment of $45 million, which the company expects will be largely covered by its directors and officers insurance policies. This resolution will lead to the complete dismissal of the action without any admission of fault by the defendants, and the company does not anticipate an impact on its adjusted non-GAAP financial measures.

iRhythm Holdings, Inc. held its 2026 Annual Meeting of Stockholders on May 27, 2026, where several key proposals were approved. Stockholders elected nine directors, approved the 2026 Equity Incentive Plan, and ratified the appointment of KPMG LLP as the independent registered public accounting firm. Additionally, an amendment to the Certificate of Incorporation to remove the pass-through voting provision was approved, along with an advisory vote on executive compensation.