Irhythm Technologies ( (IRTC) ) has released its Q4 earnings. Here is a breakdown of the information Irhythm Technologies presented to its investors.
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iRhythm Technologies is a digital health care company specializing in solutions for disease detection, prediction, and prevention using wearable biosensors and data analytics. The company has shown strong performance in the fourth quarter of 2024, with a significant revenue increase of 24% compared to the previous year, reaching $164.3 million. This growth was driven by increased demand for Zio services. The company also achieved a 70% gross margin, a notable improvement from the previous year, and reduced its net loss by $37.4 million.
For the full year 2024, iRhythm reported a revenue increase of 20.1% to $591.8 million, with improvements in both gross profit and gross margins. Despite a net loss of $113.3 million, this figure reflects an improvement from the previous year. The company’s strategic focus on quality systems, customer experience enhancement, and international market expansion contributed to its positive cash flow. Additionally, it highlighted the potential benefits of its arrhythmia monitoring devices in preventing serious outcomes like stroke and heart failure.
iRhythm’s operational achievements include record new account onboarding and balanced volume contributions across multiple channels. The company’s Zio platform has been especially valuable in primary care settings, aligning with its strategy to advance connected patient care. iRhythm has also expanded its international presence and secured strategic technology licensing agreements.
Looking ahead, iRhythm remains focused on expanding its core U.S. market, accelerating international growth, and advancing product innovation while maintaining operational efficiency. The company projects 2025 revenue to be between $675 million and $685 million, with an adjusted EBITDA margin expected to range from 7.0% to 8.0%. This outlook suggests a continued commitment to shaping the future of healthcare and delivering value to its stakeholders.
