iRhythm Holdings, Inc. · NASDAQ:IRTC
iRhythm — Q3 2026 Earnings Presentation
23 slides from iRhythm's earnings presentation, Nov 5, 2026
Slide 1: iRhythm Holdings Third Quarter 2026 Results
iRhythm Holdings Third Quarter 2026 Results November 5, 2026 © 2026 iRhythm Holdings, Inc. 1
Slide 2: Cautionary statement re forward-looking statements, non-GAAP measures and other matters
Cautionary statement re forward-looking statements, non-GAAP measures and other matters Certain data in this presentation was obtained from various external sources, and neither iRhythm Holdings, Inc. You should not rely upon forward-looking statements as predictions of future events. Although we be
Slide 3: Addressing major challenges and opportunities in healthcare
Addressing major challenges and opportunities in healthcare THE PROBLEM MARKET CATALYSTS THE ACCESS GAP IRHY THM’S IMPACT Heart disease is the #1 Aging population, consumer 46.3% of all U.S. counties - 20 years advancing cardiac cause of death globally. arrhythmia awareness, and 86.2% of rural count
Slide 4: At the Heart of it: The Moat - iRhythm is more than a device
At the Heart of it: The Moat - iRhythm is more than a device Device Data Services PATENTED WEARABLE ADVANCED SOFTWARE AND AI CLINICAL SERVICE & BIOSENSORS APPLIED TO A RICH DATASET OPERATIONAL WORKFLOW Single-use monitor designed for 2nd Generation, FDA-cleared deep-learning ECG Convenient ordering
Slide 5: Key facts and Q3 2026 revenue and margin
27+ million $221.6 million Potential patients in the United Third quarter 2026 revenue, States who could benefit from a 14.9% increase year-over-year ambulatory cardiac monitoring* 23.1% 3.2 million tests Adjusted EBITDA margin, a Target market opportunity 1,190-basis point improvement across priori
Slide 6: Primary care adoption key to accessing expansive TAM
Primary care adoption key to accessing expansive TAM IRHY THM UNIQUELY POSITIONED TOTAL MARKET CLAIMS BY APPROACHING PRIMARY CARE VIA TO WIN IN PRIMARY CARE MODALIT Y & SPECIALT Y T WO-PRONGED STRATEGY MCT ✓ Market leader in LTCM, the preferred modality EVENT Land-and-expand within ✓ Rule-in/rule-ou
Slide 7: Significant runway in international expansion
Significant runway in international expansion PRIORITIZED EU COUNTRIES Switzerland, Spain, Austria, UNITED KINGDOM and the Netherlands JAPAN Early commercialization Early commercialization Early commercialization 700,000 900,000 1,600,000 Ambulatory cardiac monitoring Ambulatory cardiac monitoring A
Slide 8: Acquisition of VitalConnect Broadens iRhythm's Monitoring Platform
Acquisition of VitalConnect Broadens iRhythm’s Monitoring Platform Evolution from ACM to Broader Intelligence Platform Expands iRhythm’s capabilities across ACM, including MCT VitalConnect broadens portfolio with four-in-one platform and differentiated features, delivering patient and customer choic
Slide 9: Differentiated Product Offering Underpins Acquisition Strategy
Differentiated Product Offering Underpins Acquisition Strategy Four-in-One Monitoring Simplicity Breadth of Capabilities Measurement of up to 11 physiological Short Term Holter: 24/48 Hour parameters Service supporting extended Long Term / Extended Holter patient wear time Cardiac Event Monitor (CEM
Slide 10: 3Q26 milestones reflective of execution and momentum
3Q26 milestones reflective of execution and momentum ACCELERATING BRINGING GENERATING MOMENTUM IN PROVIDING A INNOVATIVE PEER-REVIEWED EXECUTING WITH COMMERCIAL WINNING CUSTOMER PRODUCTS TO CLINICAL EXPANDING MARKET DISCIPLINE & BUSINESS EXPERIENCE MARKET EVIDENCE ACCESS EFFICIENCY $221.6 million re
Slide 11: Third quarter 2026 financial performance
Third quarter 2026 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) +14.9% YoY +310 bps YoY 74.2% $224.2 $221.6 72.8% $208.9 $199.4 $192.9 71.1% 70.9% 70.9% 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 ADJUSTED OPERATING EXPENSES * ADJUSTED EBITDA
Slide 12: 2026 annual revenue and profitability guidance
2026 annual revenue and profitability guidance PRIOR GUIDANCE Adjusted EBITDA Net revenue margin $880 – $890 million UPDATED GUIDANCE† 13 – 14% of revenue* Adjusted EBITDA Net revenue margin $890 – $895 million 15.5 – 16% of revenue* * Adjusted EBITDA excludes non-cash operating charges for stock-ba
Slide 13: 2026 outlook balances growth across near-term opportunities
2026 outlook balances growth across near-term opportunities U.S. CORE COMMERCIAL BUSINESS • Further expansion into PCP channel GLOBAL NET REVENUE (USD, MILLIONS) • New technologies (e.g., PFA) expand monitoring $890 – • MCT market expansion with continued innovation and the $895 acquisition of Vital
Slide 14: Addressing the future focus of healthcare
Addressing Expanding core the future focus & unlocking of healthcare adjacent markets Growing revenue Driving through global market meaningful expansion improvements in financial profile
Slide 15: Appendix
Appendix
Slide 16: Reconciliation of net loss to adjusted EBITDA
Reconciliation of net loss to adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure and is presented for supplemental informational purposes only and should not be considered as an alternative or substitute to financial information presented in accordance with GAAP. Adjusted EBITDA exclude
Slide 17: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information Adjusted EBITDA, adjusted net income (loss), adjusted net income (loss) per share, adjusted operating expenses, and free cash flow are non-GAAP financial measures and are presented for supplemental informational purposes only and should not be
Slide 18: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, ADJUSTED NET INCOME (LOSS) RECONCILIATION* 2026 2025 2026 2025 Net loss, as reported1 $ (29,851) $ (5,212) $ (44,165) $ (50,130) Impairment charges 723 — 723 2,4
Slide 19: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, ADJUSTED NET INCOME (LOSS) PER DILUTED SHARE RECONCILIATION* 2026 2025 2026 2025 Net loss, as reported1 $ (0.90) $ (0.16) $ (1.35) $ (1.57) Impairment charges 0.
Slide 20: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, ADJUSTED OPERATING EXPENSES RECONCILIATION* 2026 2025 2026 2025 Operating expenses, as reported $ 197,049 $ 145,551 $ 520,334 $ 438,888 Impairment charges (723)
Slide 21: Slide sources
SLIDE(S) SOURCES ‘Addressing major challenges • WHO, Cardiovascular Diseases Fact Sheet and opportunities in • American Heart Association, Circulation (Presidential Advisory on CVD Economic Burden, 2024) healthcare’ • AHRQ HCUP; healthcare cost analyses • HRS 2026 data; ACC Scientific Sessions • War
Slide 22: Slide sources
SLIDE(S) SOURCES iRhythm overview US Core ACM Market Sizing • iRhythm estimates based off combination of Internal Data, Medicare Public-Use Files, IQVIA data, Definitive Healthcare data, Komodo Health data, and other publicly-available information. Expansion opportunity in symptomatic market • U.S.
Slide 23: Slide sources
SLIDE(S) SOURCES ‘3Q26 milestones reflective • Russo P, Strom J, Nathan R, Song Y, Shokoohi M, Passman R, Reynolds M, Mittal S. Clinical and economic outcomes in diagnostic-naïve Medicare fee-for-service of execution and momentum’ beneficiaries managed with alert-based ambulatory cardiac monitors: T