Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — Q3 2023 Earnings Presentation
15 slides from Irhythm's earnings presentation, Nov 2, 2023
Slide 1: iRhythm Technologies Third Quarter 2023 Results
iRhythm Technologies Third Quarter 2023 Results November 2, 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 at a glance: patients served, penetration and revenue CAGR
25 - 30% 6+ Million Penetration in core Patients served U.S. ambulatory cardiac monitoring market >30% Five-year revenue ~1.5 Million CAGR Patients served annually and growing a 35+ 69 Peer-reviewed Countries and states where we publications have employees 1.5 Billion Hours of curated ~2,000 ECG dat
Slide 4: © 2023 iRhythm Technologies, Inc.
1. Data on file. iRhythm Technologies, 2017, 2023. 2. The Zio monitor patch should not be submerged in water. During a bath, keep the device above water. 3. Data on file. iRhythm Technologies, 2022. 4. Data on file. iRhythm Technologies, 2023. 5. Compared to previous generation. © 2023 iRhythm Techn
Slide 5: MyZio patient app
MyZio® patient app Supporting the patient on their monitoring journey Educational content and troubleshooting support at your fingertips Timely reminders for key moments (e.g., to return the monitor) Symptoms can occur anytime, anywhere. App symptom log is easily accessible on patient’s mobile devic
Slide 6: International opportunity represents $1+ billion with 5+ million TAM in prioritized countries
International opportunity represents $1+ billion with 5+ million TAM in prioritized countries across EMEA and Asia Pacific PRIORITIZED EU COUNTRIES Switzerland, Spain, Sweden, the JAPAN UNITED KINGDOM Netherlands, Germany and France Pursuing regulatory approval via Early commercialization Initiating
Slide 7: Active monitoring with Zio XT detects more AFib compared to usual care
ADJACE NT MARKE TS Active monitoring for AFib Active monitoring with Zio® XT detects relative to usual care1,2 more AFib compared to usual care ↓ 24% 2.6x ED visits Hospitalizations ↓ 23% Greater detection of AFib vs. usual care as published in the mSToPS clinical trial 1 Combined 39% lower cardiac
Slide 8: Zio XT provides high value from health economic perspective
ADJACE NT MARKE TS ® Zio XT provides high value from health economic perspective ICER fixed cost effectiveness thresholds for diagnostic interventions ® Zio XT demonstrated gain in quality- HIGH VALUE INTERMEDIATE VALUE LOW VALUE adjusted life expectancy while providing excellent value to healthcare
Slide 9: Third quarter 2023 financial performance
Third quarter 2023 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) $124.1 $124.6 69.9% 69.5% $112.6 $111.4 68.3% $103.9 67.9% 66.2% 3Q2022 4Q2022 1Q2023 2Q2023 3Q2023 3Q2022 4Q2022 1Q2023 2Q2023 3Q2023 ADJUSTED OPERATING EXPENSES ADJUSTED EBITDA MARGIN (USD, MILLIONS) R&
Slide 10: Updated 2023 annual revenue and profitability guidance
2023 annual revenue and profitability guidance NET GROSS ADJUSTED OPERATING ADJUSTED EBITDA REVENUE MARGIN EXPENSES MARGIN $485 - 69 - 70% $417 - 0 – 0.5% PRIOR $490 of $427 of million revenues million revenues UPDATED $487.5 - 68 - 69% $425 - 0% - 0.5% $490 of $429 of million revenues million reven
Slide 11: 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 12: Appendix
iIRHYTHM Appendix
Slide 13: 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 14: 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 2023 2022 2023 2022 Net loss, as reported $ (27,116) $ (21,451) $ (84,707) $ (95,957) Impairment and restructuring charges — — — 26,608 Business
Slide 15: Sources
Sources SLIDE SOURCES OUS opportunity represents $1+ billion with UK: iRhythm estimate. UK Office for National Statistics; Hospital Episode Statistics, NHS Digital, 2019-2020; UK Healthcare 5+ million TAM in prioritized countries across Market Review 33ed, LaingBuisson, 2021. Accessed 5 January 2022