Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — Q2 2026 Earnings Presentation
20 slides from Irhythm's earnings presentation, Aug 6, 2026
Slide 1: iRhythm Holdings Second Quarter 2026 Results
iRhythm Holdings Second Quarter 2026 Results August 6, 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 b
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: 27+ million
27+ million $224.2 million Potential patients in the United Second quarter 2026 revenue, States who could benefit from a 20.1% increase year-over-year ambulatory cardiac monitoring* 19.3% 3.2 million tests Adjusted EBITDA margin, a Target market opportunity 1,090-basis point improvement across prior
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: Next-gen MCT designed to extend our category leadership
Next-gen MCT designed to extend our category leadership Zio AT®* Zio MCT** (Not yet FDA cleared, Targeting 1H27) Improved form factor Device form factor Legacy patch technology • Same platform as Zio monitor • Better adhesion and battery Wear duration Up to 14 days Up to 21 days Auto-detects and tra
Slide 8: 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 9: 2Q26 milestones reflective of execution and momentum
2Q26 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 $224.2 million re
Slide 10: Second quarter 2026 financial performance
Second quarter 2026 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) +20.1% YoY +160 bps YoY $208.9 $224.2 72.8% $192.9 $199.4 71.2% 71.1% 70.9% 70.9% $186.7 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 ADJUSTED OPERATING EXPENSES * ADJUSTED EBITD
Slide 11: 2026 annual revenue and profitability guidance
2026 annual revenue and profitability guidance PRIOR GUIDANCE Adjusted EBITDA Net revenue margin $875 – $885 million UPDATED GUIDANCE 12 – 13% of revenue* Adjusted EBITDA Net revenue margin $880 – $890 million 13 – 14% of revenue* * Adjusted EBITDA excludes non-cash operating charges for stock-based
Slide 12: 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 $880 – • MCT market expansion with continued innovation $890 $747.1 $591.8 INTERNATIONAL
Slide 13: 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 14: Appendix
Appendix
Slide 15: 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 16: 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 17: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, ADJUSTED NET INCOME (LOSS) RECONCILIATION* 2026 2025 2026 2025 Net loss, as reported1 $ (381) $ (14,218) $ (14,314) $ (44,918) Impairment charges — 2,479 — 2,479 Business t
Slide 18: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, ADJUSTED OPERATING EXPENSES RECONCILIATION* 2026 2025 2026 2025 Operating expenses, as reported $ 165,747 $ 151,565 $ 323,285 $ 293,337 Impairment charges — (2,479) — (2,47
Slide 19: Slide sources: Addressing major challenges and opportunities in healthcare
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 20: Slide sources: iRhythm overview
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.