Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — iRhythm Technologies — 43rd Annual J.P. Morgan Healthcare Conference (January 2025)
30 slides from Irhythm's conference presentation, Jan 13, 2025
Slide 1: 43rd Annual J.P. Morgan Healthcare Conference
43 Annual J.P. Morgan rd Healthcare Conference January 13, 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: Vision and Mission
Vision Better Data, Better Insights, Better Health for All. Mission Boldly innovating to create trusted solutions that detect, predict, and prevent disease.
Slide 5: Key facts and figures
27+ million $582.5 – Potential patients in the United States who could benefit from $587.5 million ambulatory cardiac monitoring* 2024 revenue guidance 5+ million tests 2+ million Target market opportunity across Patient reports posted annually prioritized EU and APAC countries* ~30% penetration in
Slide 6: 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 7: 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 8: 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 9: 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 10: Addressing population health management through the power of artificial intelligence
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: 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 80.1% Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q1
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: Leadership in long-term continuous monitoring with room for upside in MCT
Leadership in long-term continuous monitoring with substantial room for upside in mobile cardiac telemetry market ESTIMATED 2024 LTCM MARKET SHARE ESTIMATED 2024 MCT MARKET SHARE (OF 3.0 MILLION ANNUAL TESTS) (OF 950,000 ANNUAL TESTS) Growing Growing mid- approximately to high- single 20% annually O
Slide 14: International opportunity represents $1+ billion TAM
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 15: 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 16: Technology licensing agreement with BioIntelliSense
Technology licensing agreement with BioIntelliSense STRATEGIC RATIONALE • Multiparameter sensing technologies natural complement to ECG to advance iRhythm’s premium positioning in ACM • Positions us to expand future platform capabilities and enter adjacent indications LICENSE OVERVIEW • Exclusive li
Slide 17: 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 ENHANCES THE CORE Commercial shift to multi-sensing ECG + vital signals expected Single & Respiration Multi-Lead Rate • Up to 60% of existing cardiac monitoring
Slide 18: 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 18 © 2025 iRhythm Technologies, Inc.
Slide 19: 2024 accomplishments reflect ongoing commitment to execution and excellence
2024 accomplishments reflect ongoing commitment to execution and excellence CONTINUING PROVIDING A BRINGING CREATING MOMENTUM IN WINNING INNOVATIVE PEER-REVIEWED EXPANDING OPERATING WITH COMMERCIAL CUSTOMER PRODUCTS TO CLINICAL MARKET ACCESS DISCIPLINE BUSINESS EXPERIENCE MARKET EVIDENCE COVERAGE AN
Slide 20: Near-term opportunities can drive significant topline growth
Near-term opportunities can drive significant topline growth 2025 NET REVENUE GUIDANCE U.S. CORE COMMERCIAL BUSINESS (USD, MILLIONS) • Further expansion into PCP channel • New technologies (e.g., PFA) expand monitoring $675M – • MCT market expansion with continued innovation $685M ~ $587.5 INTERNATI
Slide 21: 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 22: Addressing the future focus of healthcare
Addressing Expanding the future focus existing markets of healthcare while extending into adjacent markets Anticipated revenue Expect to deliver growth from large meaningful underpenetrated improvements in markets on a financial profile global scale 22 © 2025 iRhythm Technologies, Inc.
Slide 23: Appendix
iIRHYTHM. Appendix
Slide 24: Sources: Cardiac arrhythmia burden in the U.S.
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 • American College of Cardiology. (2024, July 8). Almost Half of US Counties Have No Cardiologists Despite Higher Prevalence of CV Risk Factors, ambulatory cardiac Mortality [Press Release]. https://www.acc.org/About-ACC/Press-Releases/2024/07/08/18/25/Almost-Half-of
Slide 26: Sources: Addressing population health management through AI
SLIDE(S) SOURCES Addressing population Sleep Apnea Market Sizing health management • Franklin, K. A., & Lindberg, E. (2015). Obstructive sleep apnea is a common disorder in the population—a review on the epidemiology of sleep through the power of apnea. Journal of thoracic disease, 7(8), 1311. doi:
Slide 27: Third quarter 2024 financial performance
Third quarter 2024 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) $148.0 $147.5 69.9% $131.9 68.8% $132.5 $124.6 66.2% 66.0% 66.3% 3Q2023 4Q2023 1Q2024 2Q2024 3Q2024 3Q2023 4Q2023 1Q2024 2Q2024 3Q2024 ADJUSTED OPERATING EXPENSES * ADJUSTED EBITDA MARGIN * (USD, MILLIONS
Slide 28: 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. We define Adjusted EBIT
Slide 29: Reconciliation of quarterly adjusted EBITDA margin
Reconciliation of quarterly adjusted EBITDA margin 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. We define Adjusted
Slide 30: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, ADJUSTED NET LOSS RECONCILIATION 2024 2023 2024 2023 Net loss, as reported1 $ (46,182) $ (27,116) $ (111,956) $ (84,707) Impairment charges 641 — 641 — Business transformation co
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