Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — iRhythm Technologies — J.P. Morgan 44th Annual Healthcare Conference 2026
30 slides from Irhythm's conference presentation, Jan 12, 2026
Slide 1: iRhythm at the J.P. Morgan 44th Annual Healthcare Conference
iRhythm at the J.P. Morgan 44th Annual Healthcare Conference Quentin Blackford, President & Chief Executive Officer January 12, 2026 © 2026 iRhythm Technologies, 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 Technologies, You should not rely upon forward-looking statements as predictions of future events. Although we be
Slide 3: When a signal changes everything.
When a signal changes everything.
Slide 4: Normal EKG in the ER. Life-threatening arrhythmia in real life.
Picture of health. Clinically Normal EKG in actionable the ER. arrhythmia Life- discovered threatening by chance. arrhythmia in real life. Predictive AI identified elevated risk. Significant arrhythmia burden confirmed. Symptoms were real. Arrhythmia ruled out.
Slide 5: Addressing major challenges and opportunities in healthcare
Addressing major challenges and opportunities in healthcare IRHY THM’S IMPACT ADDRESSING UNMET MARKET CATALYSTS GROWING ACCESS NEED GAP 20 years advancing cardiac Heart rhythm problems Aging population, consumer 46.3% of all U.S. counties – diagnostics and innovating are among the most arrhythmia aw
Slide 6: Disrupting cardiac monitoring with a unique, innovative platform
Disrupting cardiac monitoring with a unique, innovative platform 2 3 PATENTED WEARABLE ADVANCED AI & CLINICAL SERVICE & BIOSENSORS SOFTWARE TOOLS OPERATIONAL WORKFLOW Single-use monitor that 2nd Generation, FDA-cleared, High-quality digital patients prefer deep-learned ECG detection report delivered
Slide 7: 27+ million potential patients; $740+ million anticipated 2025 revenue
27+ million $740+ million Potential patients in the United Anticipated full year States who could benefit from 2025 revenue ambulatory cardiac monitoring* ~2.6 million 3.2 million tests Patient reports posted annually Target market opportunity across prioritized EU and APAC countries* ~40% Penetrati
Slide 8: ACM market is evolving with runway for durable growth
ACM market is evolving with runway for durable growth TREMENDOUS MARKET EXPANSION POTENTIAL AHEAD MARKET LEADERSHIP IN LTCM : 72% market share in LTCM (of 3.5 million tests in US today growing high teens % YOY) with ~ 27 million undiagnosed US patients at elevated risk SHORT DURATION MONITORS YET TO
Slide 9: 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 10: Precise, proactive monitoring enables population health management
Precise, proactive monitoring enables population health management… ARRHY THMIA PATIENTS USE THE HEALTHCARE SYSTEM AT A MUCH HIGHER RATE COMPARED COPD TO NON-ARRHY THMIA PATIENTS 1 SLEEP APNEA: 11.7 million US prevalence of 40.1 TAM 2.0M2 million, with up to 80% of Arrhythmia patients hospitalized m
Slide 11: …which is being embraced by innovative channel partnerships
…which is being embraced by Direct-to- innovative channel partnerships Consumer Partners Innovative Virtual Care Primary Care Providers ~85% of patients in representative customer programs Direct & Employer Value Based Care Models Home-Based Testing had at least one arrhythmia identified1 Value-Base
Slide 12: 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, 510(k)) submitted 3Q25) 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
Slide 13: 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 14: Artificial intelligence underpins core capabilities and enables service innovation
Prediction of Artificial intelligence underpins Atrial core capabilities and enables Fibrillation, 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: Building a unified, scalable, AI-powered diagnostic ecosystem
Building a unified, scalable, AI-powered diagnostic ecosystem ADVANCED AI & CLINICAL SERVICE & HARDWARE SOFTWARE TOOLS OPERATIONAL WORKFLOW Partnership aims to utilize predictive AI to help identify arrhythmias earlier ZEUS AI Engine Zio MCT introduction Enhanced AI algorithms for ECG Improved backe
Slide 16: EHR integrations deliver seamless data flow at scale
EHR integrations deliver seamless data flow at scale Hospital Cloud EHR system Staff/ordering MA updates Order physician order on EHR (ORM) Interface places order in and patches Engine EHR patient Proprietary AI Physician Report published in Results/Report Clinical interprets Zio EHR or CVIS Curatio
Slide 17: Comprehensive evidence generation supportive of clinical use cases
Comprehensive evidence generation supportive of clinical use cases CLINICAL OUTCOME ECONOMIC VALUE ADJACENT PATIENT SUPERIORT Y POPULATIONS CAMELOT and AVALON studies Zio LTCM service associated with a In patients with T2D and/or COPD, showed Zio LTCM service lower probability of inpatient patients
Slide 18: Next expansion opportunity: obstructive sleep apnea
Next expansion opportunity: obstructive sleep apnea SLEEP APNEA • Prevalence of sleep disorders1: 40.1 million • Large prevalence of undiagnosed sleep apnea missing a convenient diagnostic pathway for many PCPs • Natural evolution of iRhythm’s platform capabilities: • Up to 80% of AFib patients have
Slide 19: 2025 milestones reflective of execution and momentum
2025 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 Expect $740+ mill
Slide 20: 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 $870 – • MCT market expansion with continued innovation $880 $740 + $591.8 INTERNATIONAL
Slide 21: 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 22: Appendix
Appendix
Slide 23: Third quarter 2025 financial performance
Third quarter 2025 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) $186.7 $192.9 71.2% 71.1% $164.3 70.0% $158.7 68.8% $147.5 68.8% 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 ADJUSTED OPERATING EXPENSES * ADJUSTED EBITDA MARGIN * (USD, MILLIONS
Slide 24: 2025 annual revenue and profitability guidance
2025 annual revenue and profitability guidance UPDATED GUIDANCE Adjusted EBITDA Net revenue margin $740+ million 8.25 – 8.75% of revenue* PRIOR GUIDANCE Adjusted EBITDA Net revenue margin $735 - $740 million 8.25 – 8.75% of revenue* *Adjusted EBITDA excludes non-cash operating charges for stock-base
Slide 25: 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 26: 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 EB
Slide 27: 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 LOSS RECONCILIATION* 2025 2024 2025 2024 Net loss, as reported1 $ (5,212) $ (46,182) $ (50,130) $ (111,956) Impairment charges — 641 2,479 641 Busin
Slide 28: Slide sources
SLIDE(S) SOURCES ‘Addressing major challenges • Ward et al. Prevalence and health care expenditures among Medicare beneficiaries aged 65 years and over with heart conditions. Medicare Current Beneficiary and opportunities in Survey, 2017. (Prevalence of self-reported heart conditions.) American Coll
Slide 29: Slide sources
SLIDE(S) SOURCES iRhythm overview and ‘ACM US Core ACM Market Sizing market is evolving with • iRhythm estimates based off combination of Internal Data, Medicare Public-Use Files, IQVIA data, Definitive Healthcare data, Komodo Health data, and other runway for durable growth’ publicly-available info
Slide 30: Slide sources
SLIDE(S) SOURCES ‘Precise, proactive monitoring • Real World Evidence on Health Care Resource Utilization and Economic Burden of Arrhythmias in Patients with Diabetes and COPD. Abstract presented at: 2024 enables population health AHA Scientific Sessions; November 16 to 18, 2024; Chicago, IL. manage
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