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Irhythm Technologies (IRTC)
NASDAQ:IRTC
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.33Last Year’s EPS
-$1.26Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 19.30%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong revenue growth, successful international expansion, and important regulatory progress. However, these positives were balanced by significant regulatory challenges, increased operating expenses, and a higher net loss, resulting in a mixed sentiment.Company Guidance
During iRhythm's Q3 2024 earnings call, the company provided several key financial metrics and guidance updates. iRhythm reported $147.5 million in revenue for the third quarter, marking an 18.4% year-over-year growth, driven by record demand and new account openings. Adjusted operating expenses were $143.8 million, reflecting a 34.3% increase year-over-year, largely due to a $32.1 million charge for technology licensing. The adjusted net loss was $39.2 million, translating to a loss of $1.26 per share. Gross margin was maintained at 68.8%, while the adjusted EBITDA margin was negative 13.5%, but would have been 8.3% excluding the acquired IPR&D charge. For the full year 2024, iRhythm narrowed its revenue guidance to between $582.5 million and $587.5 million, with expected gross margins between 68.5% and 69% and adjusted EBITDA margins ranging from negative 2% to negative 1.5%. The company highlighted its strategic focus on ongoing FDA remediation efforts and the delayed Zio MCT regulatory submission, now anticipated in the third quarter of 2025.Strong Revenue Growth
iRhythm achieved $147.5 million in revenue for Q3 2024, representing 18.4% growth year-over-year driven by record demand from existing accounts and new account openings.
International Expansion
iRhythm reached more than 10,000 registrations in a single quarter in the UK for the first time and launched in Austria, the Netherlands, Switzerland, and Spain.
FDA Clearance and Regulatory Progress
Received FDA clearance for the first of two 510(k)s related to the Zio AT system and subsequently cleared the second 510(k) submission during the call.
Digital Integration and Milestones
Celebrated 1 millionth patient registered for Zio Monitor and launched integration with Epic's Aura platform, potentially saving up to 75% of the time for EHR integrations.
Strategic Technology Licensing
Entered a technology licensing agreement with BioIntelliSense to incorporate medical-grade, connected, multi-sensor capabilities into ACM products for future iterations.
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IRTC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IRTC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $75.77 | $72.44 | -4.39% |
| Aug 01, 2024 | $84.22 | $73.88 | -12.28% |
| May 02, 2024 | $110.88 | $102.68 | -7.40% |
| Feb 22, 2024 | $115.07 | $105.07 | -8.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Irhythm Technologies (IRTC) report earnings?
Irhythm Technologies (IRTC) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Irhythm Technologies (IRTC) earnings time?
Irhythm Technologies (IRTC) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IRTC EPS forecast?
IRTC EPS forecast for the fiscal quarter 2024 (Q4) is -$0.33.
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