Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — Q4 2022 Earnings Presentation
12 slides from Irhythm's earnings presentation, Feb 23, 2023
Slide 1: Fourth Quarter and Full Year 2022 Results
iRhythm Technologies Fourth Quarter and Full Year 2022 Results February 23, 2023
Slide 2: Safe harbor statement
Safe harbor statement Certain data in this presentation was obtained from various external sources, and neither “iRhythm” or the You should not rely upon forward-looking statements as predictions of future events. Although we believe that “Company” nor its affiliates or representatives has verified
Slide 3: iRhythm key facts at a glance
6+ Million >30% Patients served Five-year revenue CAGR ~25% ~1.5 Million Penetration in core Patients served U.S. ambulatory cardiac annually and growing monitoring market a 35+ 66 Peer-reviewed Countries and states where we publications have employees 1.5 Billion Hours of curated ~1,800 ECG data Gl
Slide 4: Significant accomplishments and investments in 2022
Significant accomplishments and investments in 2022 provide the foundation for sustained high growth over the long term ENABLING MARKET ACCELERATING EXPANSION OPPORTUNITIES INNOVATION • Record number of new Zio® XT account • FDA clearance of 2nd generation algorithm openings • Zio® monitor limited m
Slide 5: Broad access achieved in the U.S. through commercial and government payers
93% Broad access achieved in the U.S. through commercial and government payers of commercial lives eligible for coverage have access to Zio® XT with no prior Most major commercial plans authorization requirement cover Zio® XT and Zio® AT1 Medicare coverage available for >70% Zio® XT and Zio® AT nati
Slide 6: Differentiated platform technology with catalyst-rich pipeline
Differentiated platform technology with catalyst-rich pipeline 2023 2024 Zio Monitor Limited Market Release Zio Monitor US Commercial Launch Zio Monitor Launch into International Markets Zio MCT US Commercial Launch Zio Watch Market Evaluation: IRB Use & Clinical Studies Commercial Pilots Commercial
Slide 7: Fourth quarter 2022 financial performance
Fourth quarter 2022 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) $103.9 $112.6 69.9% $102.1 68.8% 68.3% $92.4 66.9% $81.8 62.7% 4Q2021 1Q2022 2Q2022 3Q2022 4Q2022 4Q2021 1Q2022 2Q2022 3Q2022 4Q2022 ADJUSTED OPERATING EXPENSES ADJUSTED EBITDA MARGIN (USD, MILLIONS) R&D
Slide 8: 2023 annual revenue and profitability guidance
2023 annual revenue and profitability guidance NET REVENUE GROSS MARGIN ADJUSTED OPERATING ADJUSTED EBITDA (USD, MILLIONS) EXPENSES (USD, MILLIONS) MARGIN ~$475 – ~ 69 – ~ $415 – ~ (0.5)% – $485 70% of $425 0.5% of million revenues million revenues Significant growth in core business with leverage t
Slide 9: Addressing the future focus of healthcare
Addressing Expanding the future focus existing markets of healthcare while extending into adjacent markets Out-paced Delivering revenue growth meaningful from massive improvements in underpenetrated financial profile markets on a global scale
Slide 10: Appendix: GAAP Reconciliations
Appendix GAAP Reconciliations
Slide 11: Reconciliation of net loss to adjusted EBITDA
Reconciliation of net loss to adjusted EBITDA Adjusted EBITDA is a non-GAAP measurement of net loss or income excluding interest, taxes, depreciation and amortization, stock-based compensation expense, impairment and restructuring charges, and transformation costs. We believe that adjusted EBITDA is
Slide 12: Reconciliation of GAAP to Non-GAAP financial information
Reconciliation of GAAP to Non-GAAP financial information Three Months Ended December 31, Year Ended December 31, Adjusted operating expense reconciliation 2022 2021 2022 2021 Operating expense, as reported $ 99,405 $ 83,482 $ 395,416 $ 313,510 Impairment and restructuring charges — — (26,608) — Tran