Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — Q4 2024 Earnings Presentation
23 slides from Irhythm's earnings presentation, Feb 20, 2025
Slide 1: iRhythm Technologies Fourth Quarter 2024 Results
iRhythm Technologies Fourth Quarter 2024 Results February 20, 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: iRhythm key facts and figures at a glance
27+ million $591.8 million Potential patients in the United Full year 2024 revenue, a 20.1% States who could benefit from increase compared to full year ambulatory cardiac monitoring* 2023 revenue 5+ million tests 2+ million Target market opportunity across Patient reports posted annually prioritize
Slide 4: 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 5: 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 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: 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 8: Addressing population health management through artificial intelligence 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 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: 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 11: 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 12: 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 13: Fourth quarter 2024 financial performance
Fourth quarter 2024 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) 69.9% 70.0% $164.3 $148.0 $147.5 68.8% $132.5 $131.9 66.3% 66.0% 4Q2023 1Q2024 2Q2024 3Q2024 4Q2024 4Q2023 1Q2024 2Q2024 3Q2024 4Q2024 ADJUSTED OPERATING EXPENSES * ADJUSTED EBITDA MARGIN * (USD, MILLION
Slide 14: 2025 annual revenue and profitability guidance
2025 annual revenue and profitability guidance Adjusted Net revenue EBITDA margin $675 - $685 million 7.0% - 8.0% of revenue* *Adjusted EBITDA excludes non-cash operating charges for stock-based compensation expense, changes in fair value of strategic investments, impairment and restructuring charge
Slide 15: 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 16: 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 16 © 2025 iRhythm Technologies, Inc.
Slide 17: Appendix
Appendix
Slide 18: 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 19: 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 20: 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 NET INCOME (LOSS) RECONCILIATION* 2024 2023 2024 2023 Net loss, as reported1 $ (1,333) $ (38,699) $ (113,289) $ (123,406) Impairment charges — 11,078 641 11,078 Business transfor
Slide 21: 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 22: 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 23: 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: