Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — iRhythm Technologies — William Blair 45th Annual Growth Stock Conference (June 2025)
26 slides from Irhythm's conference presentation, Jun 4, 2025
Slide 1: William Blair 45th Annual Growth Stock Conference
William Blair 45 Annual th Growth Stock Conference June 4, 2025
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 Technologies, You should not rely upon forward-looking statements as predictions of future events. Although we be
Slide 3: The Zio platform enables us to address the challenges of tomorrow
The Zio platform enables us to address the challenges of tomorrow 1 2 3 PATENTED WEARABLE AI PLATFORM ACTIONABLE AND SCALABLE BIOSENSORS (34-LAYER DEEP NEURAL NET) DIGITAL PLATFORM Single-use monitor that 2nd Generation, FDA-cleared, High-quality digital patients prefer deep-learned report delivered
Slide 4: 27+ million, $158.7 million, 2+ million key facts
$158.7 million 27+ million First quarter 2025 revenue, a Potential patients in the United 20.3% increase compared to States who could benefit from first quarter 2024 ambulatory cardiac monitoring* 2+ million 5+ million tests Patient reports posted annually Target market opportunity across prioritize
Slide 5: Cardiac arrhythmia burden in the U.S. is immense
Cardiac arrhythmia burden in the U.S. is immense PREVALENCE CONSEQUENCES 11M 5x with Increased risk of stroke arrhythmias due to Atrial Fibrillation (AFib) 40% 160,000 Lifetime risk of AFib Deaths per year for individuals over 55 associated with AFib FINANCIAL BURDEN 450,000 $34B Hospitalizations pe
Slide 6: Multiple levers for long-term growth and sustainable value creation
Multiple levers for long-term growth and sustainable value creation CURRENT U.S. MARKET Over 70% market share in LTCM with Zio monitor (of 3.0M annual tests)1 Over 10% market share in MCT with Zio AT (of 950k annual tests)1 6.5M ACM tests in the US today 5M+ INTERNATIONAL U.K. registrations primaril
Slide 7: International opportunity represents $1+ billion TAM with 5+ million tests
International opportunity represents $1+ billion TAM with 5+ million tests in prioritized countries across EMEA and Asia Pacific PRIORITIZED EU COUNTRIES Switzerland, Spain, Austria, the JAPAN UNITED KINGDOM Netherlands, Germany and France Pursuing reimbursement approval via Early commercialization
Slide 8: Underpenetrated ambulatory cardiac monitoring market in the United States
Underpenetrated ambulatory cardiac monitoring market in the United States BENEFITS OF BRINGING DIAGNOSIS TOTAL MARKET OPPORTUNIT Y EARLIER IN CARE PATHWAY Nearly half (46.3%) of all counties in the U.S. 27M+ – including 86.2% of rural counties - do not have any cardiologists Many patients are referr
Slide 9: Approaching the primary care channel through two-pronged strategy
Approaching the primary care channel through two-pronged strategy within both symptomatic and undiagnosed patient populations LAND-AND-EXPAND WITHIN TOP-DOWN INTEGRATION AT INTEGRATED DELIVERY NET WORKS 1 LARGE NATIONAL ACCOUNTS PCP onboarding Zio XT registrations Over 80% Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9
Slide 10: Addressing population health management through AI to enable targeted monitoring
Addressing population health management through the power of artificial intelligence to enable targeted monitoring for undiagnosed arrhythmias SLE E P APNE A: US prevalence of ARRHY THMIA PATIENTS USE THE HEALTHCARE 40.1 million, with up to 80% of AFib patients having sleep apnea1 SYSTEM AT A MUCH H
Slide 11: iRhythm uniquely positioned to win with clinically accurate, trusted services
iRhythm uniquely positioned to win with clinically accurate, trusted services and the ability to scale in expanded channels, international markets, and additional vitals AI: FDA cleared AI, expansive data set for future signal development, and world-class clinical oversight deliver comprehensive, cu
Slide 12: Collaboration with Epic Aura enables bidirectional data flow
Collaboration with Epic Aura enables bidirectional data flow, enhances clinician workflow efficiency, and supports rapid system-wide implementation Hospital Cloud EHR system Staff/Ordering MA updates order Order Physician places on EHR and (ORM) Interface order in EHR patches patient Engine Propriet
Slide 13: Future multi-modal sensing platform differentiates ACM business
Future multi-modal sensing platform differentiates ACM business and Heart Rate Heart Rate Variability unlocks adjacent market opportunities Single & Respiration Enhancing the Core: Multi-Lead Rate ECG iRhythm leading the commercial shift to multi-sensing ECG plus vital signals Platform Oxygen Unlock
Slide 14: Artificial intelligence underpins core capabilities and enables service innovation
Prediction of Artificial intelligence underpins Atrial Fibrillation, core capabilities and enables Heart Failure service innovation Insight Sleep, Activity Generation Curated heartbeat data and other data linkages opens opportunities for additional expansion Artificial Intelligence Evolving from det
Slide 15: iRhythm on a journey to evolve and mature our corporate profile
iRhythm on a journey to evolve and mature our corporate profile Leadership Board Operational Team Evolution Transformation Best-in-class Fiscal Quality Discipline & Management Responsibility System 15 © 2025 iRhythm Technologies, Inc.
Slide 16: First quarter 2025 financial performance
First quarter 2025 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) 69.9% 70.0% $164.3 $158.7 $147.5 68.8% 68.8% $148.0 $131.9 66.3% 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 ADJUSTED OPERATING EXPENSES * ADJUSTED EBITDA MARGIN * (USD, MILLIONS
Slide 17: 2025 annual revenue and profitability guidance
2025 annual revenue and profitability guidance PRIOR GUIDANCE Adjusted EBITDA Net revenue margin $675 - $685 million 7.0% - 8.0% of revenue* UPDATED GUIDANCE Adjusted EBITDA Net revenue margin $690 - $700 million 7.5% - 8.5% of revenue* *Adjusted EBITDA excludes non-cash operating charges for stock-
Slide 18: Compelling investment thesis for long-term shareholder value creation
Compelling investment thesis for long-term shareholder value creation MARKET EXPANSION OPERATIONAL IMPROVING OPPORTUNITIES INNOVATION EFFICIENCY FOCUS FINANCIAL PROFILE Core US market penetration Relentless patient focus Commitment to quality, safety Focus on generating leverage and regulatory compl
Slide 19: Thank You
Thank You
Slide 20: Appendix
Appendix 21 © 2025 iRhythm Technologies, Inc.
Slide 21: 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 22: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information 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 EBI
Slide 23: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED MARCH 31, ADJUSTED NET LOSS RECONCILIATION* 2025 2024 Net loss, as reported1 $ (30,700) $ (45,667) Business transformation costs 503 — Intellectual property litigation costs2 832 — Changes in fair value of s
Slide 24: Sources: Cardiac arrhythmia burden in the U.S. is immense
SLIDE(S) SOURCES Cardiac arrhythmia burden • Morillo CA, Banerjee A, Perel P, Wood D, Jouven X. Atrial fibrillation: the current epidemic. J Geriatr Cardiol. 2017 Mar;14(3):195-203. in the U.S. is immense • Weng, Lu-Chen et al. Genetic Predisposition, Clinical Risk Factor Burden, and Lifetime Risk o
Slide 25: Sources: Underpenetrated ambulatory cardiac monitoring market
SLIDE(S) SOURCES Underpenetrated ambulatory • American College of Cardiology. (2024, July 8). Almost Half of US Counties Have No Cardiologists Despite Higher Prevalence of CV Risk Factors, Mortality cardiac monitoring market in [Press Release]. https://www.acc.org/About-ACC/Press-Releases/2024/07/08
Slide 26: Sources: Addressing population health management through AI
SLIDE(S) SOURCES Addressing population Sleep Apnea Market Sizing health management through • Franklin, K. A., & Lindberg, E. (2015). Obstructive sleep apnea is a common disorder in the population—a review on the epidemiology of sleep the power of artificial apnea. Journal of thoracic disease, 7(8),
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