iRhythm Technologies reports strong fourth quarter performance, exceeding revenue guidance and anticipating continued growth in 2026.
Quiver AI Summary
iRhythm Technologies, Inc. announced preliminary fourth quarter highlights and a business update at the J.P. Morgan Healthcare Conference. The company expects full-year 2025 revenue to surpass its previous guidance of $740 million, boosted by record unit volume, and anticipates 2026 revenue between $870 million and $880 million, representing 17% to 18% year-over-year growth. iRhythm also reported a positive adjusted EBITDA margin of 11.5% to 12.5%. CEO Quentin Blackford noted that 2025 marked a transformative year for the company, with significant revenue growth and positive cash flow for the first time. The company aims to expand its market presence, particularly in primary care and adjacent markets, leveraging AI and deepening its product offerings.
Potential Positives
- iRhythm anticipates full year 2025 revenue to exceed $740 million, demonstrating strong financial performance with record revenue unit volume in Q4 2025.
- For full year 2026, expected revenue growth of 17% to 18%, indicating continued momentum and positive outlook for the company.
- Presentation of compelling real-world evidence from over 1.4 million patients supporting the clinical superiority of their Zio long-term continuous monitoring system, enhancing credibility in the market.
- Company achieved free cash flow positivity for the first time in its history, marking a significant milestone in financial health.
Potential Negatives
- Despite reporting anticipated revenue growth for 2026, the use of non-GAAP financial measures and the lack of reconciliation for adjusted EBITDA estimates raise concerns about transparency and the reliability of the financial guidance provided.
- The reliance on forward-looking statements creates uncertainty, as they are contingent upon various risks and uncertainties which could materially affect actual outcomes, potentially impacting investor confidence.
- The statement about achieving free cash flow positivity for the first time in company history may indicate past financial struggles, which could raise concerns about the company's long-term financial health and operational stability.
FAQ
What were iRhythm's fourth quarter revenue projections?
iRhythm anticipates full year 2025 revenue to exceed $740 million and expects 2026 revenue of approximately $870-$880 million.
How does iRhythm's technology enhance patient care?
iRhythm combines wearable biosensors with cloud-based data analytics to provide clinically actionable insights from heart data.
What are iRhythm’s growth strategies for 2026?
iRhythm plans to deepen primary care penetration, expand into adjacent markets, and leverage AI-powered risk stratification partnerships.
Where can investors access iRhythm’s conference presentations?
Investors can access live and archived webcasts of iRhythm's presentations on the Events and Presentations section of their investor website.
What non-GAAP measures does iRhythm refer to in its announcements?
iRhythm discusses adjusted EBITDA, adjusted net loss, and free cash flow to evaluate financial and operational performance.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IRTC Insider Trading Activity
$IRTC insiders have traded $IRTC stock on the open market 25 times in the past 6 months. Of those trades, 0 have been purchases and 25 have been sales.
Here’s a breakdown of recent trading of $IRTC stock by insiders over the last 6 months:
- QUENTIN S. BLACKFORD (President and CEO) has made 0 purchases and 8 sales selling 44,059 shares for an estimated $7,388,098.
- DANIEL G. WILSON (Chief Financial Officer) has made 0 purchases and 2 sales selling 13,000 shares for an estimated $2,534,520.
- ABHIJIT Y TALWALKAR has made 0 purchases and 8 sales selling 10,624 shares for an estimated $1,764,342.
- CHAD PATTERSON (CHIEF COMM & PRODUCT OFFICER) has made 0 purchases and 3 sales selling 5,542 shares for an estimated $902,842.
- PATRICK MICHAEL MURPHY (CBO and CLO) sold 2,478 shares for an estimated $458,008
- SUMI SHRISHRIMAL (EVP, Chief Risk Officer) sold 653 shares for an estimated $109,129
- MERVIN SMITH (EVP Strategic Business Ops) sold 616 shares for an estimated $101,245
- MARC WADE ROSENBAUM (Chief Accounting Officer) sold 226 shares for an estimated $35,918
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$IRTC Revenue
$IRTC had revenues of $192.9M in Q3 2025. This is an increase of 30.74% from the same period in the prior year.
You can track IRTC financials on Quiver Quantitative's IRTC stock page.
$IRTC Hedge Fund Activity
We have seen 169 institutional investors add shares of $IRTC stock to their portfolio, and 141 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SANDS CAPITAL MANAGEMENT, LLC removed 679,417 shares (-23.3%) from their portfolio in Q3 2025, for an estimated $116,852,929
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 532,735 shares (+6415.4%) to their portfolio in Q3 2025, for an estimated $91,625,092
- UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC added 532,472 shares (+87.6%) to their portfolio in Q3 2025, for an estimated $91,579,859
- POLAR CAPITAL HOLDINGS PLC added 334,558 shares (+24782.1%) to their portfolio in Q3 2025, for an estimated $57,540,630
- CAPITAL RESEARCH GLOBAL INVESTORS removed 323,128 shares (-21.4%) from their portfolio in Q3 2025, for an estimated $55,574,784
- PRICE T ROWE ASSOCIATES INC /MD/ added 313,394 shares (+1194.0%) to their portfolio in Q3 2025, for an estimated $53,900,634
- INVESCO LTD. added 308,839 shares (+327.5%) to their portfolio in Q3 2025, for an estimated $53,117,219
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$IRTC Analyst Ratings
Wall Street analysts have issued reports on $IRTC in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Truist Securities issued a "Buy" rating on 12/18/2025
- Canaccord Genuity issued a "Buy" rating on 10/31/2025
- JP Morgan issued a "Overweight" rating on 10/31/2025
- Citigroup issued a "Buy" rating on 10/31/2025
- BTIG issued a "Buy" rating on 10/31/2025
- Needham issued a "Buy" rating on 10/31/2025
- Baird issued a "Outperform" rating on 10/10/2025
To track analyst ratings and price targets for $IRTC, check out Quiver Quantitative's $IRTC forecast page.
$IRTC Price Targets
Multiple analysts have issued price targets for $IRTC recently. We have seen 13 analysts offer price targets for $IRTC in the last 6 months, with a median target of $212.0.
Here are some recent targets:
- Vijay Kumar from Evercore ISI Group set a target price of $210.0 on 01/05/2026
- Richard Newitter from Truist Securities set a target price of $215.0 on 12/18/2025
- Cecilia Furlong from Morgan Stanley set a target price of $205.0 on 12/02/2025
- David Roman from Goldman Sachs set a target price of $202.0 on 10/31/2025
- Marie Thibault from BTIG set a target price of $215.0 on 10/31/2025
- Allen Gong from JP Morgan set a target price of $240.0 on 10/31/2025
- William Plovanic from Canaccord Genuity set a target price of $212.0 on 10/31/2025
Full Release
SAN FRANCISCO, Jan. 12, 2026 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC) a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today announced preliminary fourth quarter operational highlights and a business update at the 44 th Annual J.P. Morgan Healthcare Conference.
Recent Operational Highlights and Financial Outlook
- Anticipate full year 2025 revenue to exceed high end of previously stated guidance range of $740 million provided in October 2025, driven by record revenue unit volume during the fourth quarter 2025
- For full year 2026, expect revenue of approximately $870 million to $880 million, or approximately 17% to 18% year-over-year growth, and anticipate adjusted EBITDA margin of approximately 11.5% to 12.5%
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Recently-presented real-world evidence from over 1.4 million patients reinforces Zio long-term continuous monitoring (LTCM) clinical superiority, with APHRS 2025 data demonstrating consistent performance in Asian populations
1
, a
Heart Rhythm
publication confirming short-term monitoring misses actionable arrhythmias
2
, and AHA 2025 data validating successful at-home self-application and earlier detection in at-risk populations
3-6
"2025 has been a transformative year for iRhythm, with strong execution against our aspiration to drive best-in-class quality systems, record commercial volumes, over 25% year-over-year revenue growth, and achieving free cash flow positivity for the first time in company history,” said Quentin Blackford, iRhythm’s President and CEO. “Our comprehensive clinical evidence program – including AVALON 7 and CAMELOT 8 publications – continues to reinforce Zio LTCM's clinical superiority in support of addressable market expansion across additional populations and care settings. As we enter 2026, we're well-positioned to accelerate our leadership with multiple growth catalysts ahead, including deepening penetration in primary care and population health through AI-powered risk stratification partnerships, momentum within mobile cardiac telemetry, expansion into adjacent markets such as obstructive sleep apnea, and continued international execution. With our proven ability to scale efficiently, we're confident we can deliver sustainable, profitable growth while transforming cardiac care for millions of patients worldwide."
Webcast and Conference Presentation Information
At the upcoming 44 th Annual J.P. Morgan Healthcare Conference, iRhythm’s management is scheduled to present on Monday, January 12, 2026, at 8:15 a.m. Pacific Time/11:15 a.m. Eastern Time. Interested parties may access a live and archived webcast of the presentation on the Events and Presentations section of the company’s investor website at investors.irhythmtech.com.
About iRhythm Technologies, Inc.
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all. To learn more about iRhythm, including its portfolio of Zio products and services, please visit irhythmtech.com.
Use of Non-GAAP Financial Measures
We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP) in this press release and management’s presentation materials, including adjusted EBITDA, adjusted net loss, adjusted net loss per share, adjusted operating expenses, and free cash flow. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. See the schedules attached to management’s presentation materials for additional information and reconciliations of such non-GAAP financial measures. We have not reconciled our adjusted operating expenses and adjusted EBITDA margin estimates for full year 2026 because certain items that impact these figures are uncertain or out of our control and cannot be reasonably predicted. Accordingly, a reconciliation of adjusted EBITDA estimates is not available without unreasonable effort.
Adjusted EBITDA excludes non-cash operating charges for stock-based compensation expense, changes in fair value of strategic investments, impairment and restructuring charges, business transformation costs, certain intellectual property litigation expenses and settlements, and loss on extinguishment of debt. Business transformation costs include costs associated with professional services, employee termination and relocation, third-party merger and acquisition, integration, and other costs to augment and restructure the organization, inclusive of both outsourced and offshore resources.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future actions or operating or financial performance. In particular, these statements include statements regarding financial guidance, market opportunity, ability to penetrate the market, anticipated productivity and quality improvements, and expectations for growth. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled “Risk Factors” and elsewhere in our filings made with the Securities and Exchange Commission, including those in iRhythm’s most recent filings on Form 10-K, Form 10-Q and other SEC filings, all of which are available on iRhythm’s website. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. iRhythm disclaims any obligation to update these forward-looking statements.
Investor Contact
Stephanie Zhadkevich
[email protected]
Media Contact
Kassandra Perry
[email protected]
- Kawata H et al. Clinical Performance of a Long-Term Continuous ECG Monitoring System in Asian and Non-Asian Patients: A Large-Scale Real-World Analysis of Over 400,000 Patients. Asia Pacific Heart Rhythm Society (APHRS) Scientific Sessions, November 13, 2025; Yokohama, Japan.
- Battisti AJ, et al. Relationship of Symptom Frequency and Symptom-Rhythm Correlation to Arrhythmia Type and Time to Detection: Insights from Ambulatory ECG Monitoring in Over 1 Million Patients. Heart Rhythm. 2025 Nov 6:S1547-5271(25)03049-8. doi: 10.1016/j.hrthm.2025.11.007. Epub ahead of print.
- Ashburner JM et al. Compliance, ECG Quality, and Engagement With a Smartphone App in Patients With In-Clinic Compared With Home-Based, Self-Applied Long-Term Continuous ECG Patch Monitors. American Heart Association Scientific Sessions, November 10, 2025; New Orleans, Louisiana.
- Russo P et al. “Onset of Arrhythmias in the CKM Continuum: Real-World Insights From a National Cohort.” American Heart Association Scientific Sessions, 2025; New Orleans, Louisiana.
- Russo P et al. “CKD and CKM Syndrome: Accelerated Progression to Arrhythmias in a National Cohort.” American Heart Association Scientific Sessions, 2025; New Orleans, Louisiana.
- Russo P et al. “Arrhythmias as Early Predictors of Chronic Kidney Disease: Real-World Evidence From a National Cardio-Kidney-Metabolic Cohort.” American Heart Association Scientific Sessions, 2025; New Orleans, Louisiana.
- Russo et al. Assessment of variation in ambulatory cardiac monitoring among commercially insured patients. Am J Manag Care. August 13, 2025.
- Reynolds MR, et al. Comparative effectiveness and healthcare utilization for ambulatory cardiac monitoring strategies in Medicare beneficiaries. Am Heart J. 2024 Mar;269:25-34