Irhythm Holdings, Inc. · NASDAQ:IRTC
Irhythm — Q1 2025 Earnings Presentation
21 slides from Irhythm's earnings presentation, May 1, 2025
Slide 1: iRhythm Technologies First Quarter 2025 Results
iRhythm Technologies First Quarter 2025 Results May 1, 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: First quarter 2025 revenue and key company metrics
$158.7 million 27+ million First quarter 2025 revenue, a Potential patients in the United 20.3% increase compared to States who could benefit from first 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 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 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 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 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 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 11: 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 12: First quarter 2025 financial performance
First quarter 2025 financial performance GLOBAL NET REVENUE GROSS PROFIT MARGIN (USD, MILLIONS) 69.9% 70.0% $164.3 $158.7 $147.5 68.8% 68.8% $148.0 $131.9 66.3% 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 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 $675 - $685 million 7.0% - 8.0% of revenue* UPDATED GUIDANCE Adjusted EBITDA Net revenue margin $690 - $700 million 7.5% - 8.5% 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 generating leverage and regulatory compl
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 15 © 2025 iRhythm Technologies, Inc.
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 EBI
Slide 19: Reconciliation of GAAP to non-GAAP financial information
Reconciliation of GAAP to non-GAAP financial information (USD, THOUSANDS) THREE MONTHS ENDED MARCH 31, ADJUSTED NET LOSS RECONCILIATION* 2025 2024 Net loss, as reported1 $ (30,700) $ (45,667) Business transformation costs 503 — Intellectual property litigation costs2 832 — Changes in fair value of s
Slide 20: Slide(s) 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(s) sources
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