iRhythm Holdings, Inc. · NASDAQ:IRTC
iRhythm — iRhythm Technologies — Q3 2025 Earnings Presentation
21 slides from iRhythm's earnings presentation, Oct 30, 2025
Slide 1: iRhythm Technologies Third Quarter 2025 Results
iRhythm Technologies Third Quarter 2025 Results October 30, 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: Third quarter 2025 revenue and key company facts
$192.9 million 27+ million Third quarter 2025 revenue, a Potential patients in the United 30.7% increase compared to third States who could benefit from quarter 2024 ambulatory cardiac monitoring* 2+ million 5+ million tests Patient reports posted annually Target market opportunity across prioritize
Slide 4: 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 13% 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 5: 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 6: 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 7: Addressing population health management through the power of artificial intelligence
Addressing population health management through the power of artificial intelligence1 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 apnea2 SYSTEM AT A MUCH
Slide 8: 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 9: 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 10: 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 UNITED KINGDOM Netherlands, Germany and France JAPAN Early commercialization Early commercialization Early commer
Slide 11: Artificial intelligence underpins core capabilities and enables future service innovation
Prediction of Artificial intelligence underpins Atrial Fibrillation, core capabilities and enables Heart Failure future service innovation Insight Sleep, Activity Generation Curated heartbeat data and other data linkages opens opportunities for additional expansion Artificial Intelligence Evolving f
Slide 12: 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 13: 2025 annual revenue and profitability guidance
2025 annual revenue and profitability guidance PRIOR GUIDANCE Adjusted EBITDA Net revenue margin $720 - $730 million 8.0 – 8.5% of revenue* UPDATED GUIDANCE Adjusted EBITDA Net revenue margin $735 - $740 million 8.25 – 8.75% of revenue* *Adjusted EBITDA excludes non-cash operating charges for stock-
Slide 14: 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 profitable growth and regulatory complia
Slide 15: 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
Slide 16: Appendix
Appendix LP
Slide 17: 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 18: 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 19: 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 20: Slide sources
SLIDE(S) SOURCES Multiple levers for long-term UK: iRhythm estimate. growth and sustainable value • UK Office for National Statistics; Hospital Episode Statistics, NHS Digital, 2019-2020 creation / International • UK Healthcare Market Review 33ed, LaingBuisson, 2021. Accessed 5 January 2022. opportu
Slide 21: Slide sources (cont'd)
SLIDE(S) SOURCES Underpenetrated ambulatory • American College of Cardiology. (2024, July 8). Almost Half of US Counties Have No Cardiologists Despite Higher Prevalence of CV Risk Factors, Mortality [Press Release]. cardiac monitoring market in the https://www.acc.org/About-ACC/Press-Releases/2024/0