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iRhythm Holdings, Inc., a digital healthcare company, engages in the design, development, and commercialization of device-based technology that provides ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. The company offers Zio ambulatory cardiac monitoring services, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services. It also provides Zio Monitor System, a prescription-only remote electrocardiogram (ECG) monitoring system consisting a patch ECG monitor that records the electric signal from the heart continuously for up to 14 days; Zio XT System, a prescription-only remote ECG monitoring system that consists of the Zio XT patch that records the electric signal from the heart continuously for up to 14 days; and Zio ECG Utilization Software System, which supports the capture and analysis of ECG data. In addition, the company offers Zio AT System, a prescription-only remote ECG monitoring system, which consists of the Zio AT patch that records the electric signal from the heart continuously for up to 14 days, as well as incorporates the Zio AT wireless gateway to provide connectivity between the patch and the ZEUS System during the patient wear period. It has a development collaboration agreement with BioIS to develop and commercialize pulse oximetry, accelerometry, and trending non-invasive blood pressure technologies for use within ambulatory cardiac monitoring products and services. The company was formerly known as iRhythm Technologies, Inc. and changed its name to iRhythm Holdings, Inc. in January 2026. iRhythm Holdings, Inc. was incorporated in 2006 and is headquartered in San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $747M | $-4M | $-45M | $35M | -29.2% | 26.2% | - |
| 2024 | $592M | $-74M | $-113M | $-46M | -124.6% | 20.1% | - |
| 2023 | $493M | $-97M | $-123M | $-91M | -58.7% | 19.9% | - |
| 2022 | $411M | $-92M | $-116M | $-53M | -48.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 410.92 | 492.68 | 591.84 | 747.14 |
| Cost Of Revenue | 129.29 | 160.88 | 184.31 | 219.89 |
| Gross Profit | 281.63 | 331.81 | 407.53 | 527.25 |
| Operating Expense | 368.81 | 445.89 | 522.39 | 577.16 |
| Operating Income | -87.18 | -114.08 | -114.86 | -49.91 |
| EBITDA | -92.14 | -96.86 | -74.13 | -3.96 |
| EBIT | -111.75 | -119.01 | -99.90 | -30.44 |
| Pretax Income | -115.89 | -122.66 | -112.72 | -43.60 |
| Tax Provision | 0.27 | 0.75 | 0.56 | 0.95 |
| Net Income | -116.16 | -123.41 | -113.29 | -44.55 |
| Net Income Common Stockholders | -116.16 | -123.41 | -113.29 | -44.55 |
| Total Expenses | 498.10 | 606.76 | 706.70 | 797.05 |
| Interest Expense | 4.14 | 3.65 | 12.82 | 13.15 |
| Interest Income | 2.35 | 6.35 | 21.94 | 21.52 |
| Research And Development | 46.61 | 60.24 | 103.83 | 84.61 |
| Selling General And Administration | 322.20 | 385.64 | 418.56 | 492.55 |
| Normalized EBITDA | -65.53 | -85.78 | -65.90 | 3.53 |
| Normalized Income | -95.13 | -114.65 | -106.79 | -38.63 |
| Basic EPS | -3.88 | -4.04 | -3.63 | -1.39 |
| Diluted EPS | -3.88 | -4.04 | -3.63 | -1.39 |
| Tax Effect Of Unusual Items | -5.59 | -2.33 | -1.73 | -1.57 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -26.61 | -11.08 | -8.23 | -7.49 |
| Total Unusual Items Excluding Goodwill | -26.61 | -11.08 | -8.23 | -7.49 |
| Net Income From Continuing Operation Net Minority Interest | -116.16 | -123.41 | -113.29 | -44.55 |
| Reconciled Depreciation | 19.61 | 22.14 | 25.78 | 26.48 |
| Reconciled Cost Of Revenue | 129.29 | 160.88 | 184.31 | 219.89 |
| Net Interest Income | -1.79 | 2.70 | 9.12 | 8.37 |
| Net Income From Continuing And Discontinued Operation | -116.16 | -123.41 | -113.29 | -44.55 |
| Total Operating Income As Reported | -113.78 | -125.16 | -115.50 | -57.41 |
| Diluted Average Shares | 29.92 | 30.53 | 31.20 | 32 |
| Basic Average Shares | 29.92 | 30.53 | 31.20 | 32 |
| Diluted NI Availto Com Stockholders | -116.16 | -123.41 | -113.29 | -44.55 |
| Net Income Including Noncontrolling Interests | -116.16 | -123.41 | -113.29 | -44.55 |
| Net Income Continuous Operations | -116.16 | -123.41 | -113.29 | -44.55 |
| Other Income Expense | -26.92 | -11.28 | -6.98 | -2.05 |
| Other Non Operating Income Expenses | -0.31 | -0.20 | 1.25 | 5.44 |
| Special Income Charges | -26.61 | -11.08 | -8.23 | -7.49 |
| Other Special Charges | 0 | 0 | 7.59 | 3.04 |
| Write Off | 0 | 0 | 0.64 | 0 |
| Impairment Of Capital Assets | 23.16 | 11.08 | 0.64 | 4.46 |
| Restructuring And Mergern Acquisition | 3.44 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -1.79 | 2.70 | 9.12 | 8.37 |
| Interest Expense Non Operating | 4.14 | 3.65 | 12.82 | 13.15 |
| Interest Income Non Operating | 2.35 | 6.35 | 21.94 | 21.52 |
| Operating Revenue | 410.92 | 492.68 | 591.84 | 747.14 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| iRhythm Holdings, Inc.this co. | IRTC | $4.0B | - | 25.53 | -29.2% | -132.48 |
| Dianthus Therapeutics, Inc. | DNTH | $4.5B | - | 7.31 | -32.9% | -18.62 |
| Alignment Healthcare, Inc. | ALHC | $4.5B | - | 24.74 | -0.4% | 90.31 |
| Option Care Health, Inc. | OPCH | $4.2B | 21.16 | 3.18 | 15.7% | 12.82 |
| Crinetics Pharmaceuticals, Inc. | CRNX | $4.0B |
| - |
| 3.70 |
| -46.9% |
| -5.94 |
| Travere Therapeutics, Inc. | TVTX | $3.7B | - | 31.75 | -22.2% | -1780.31 |
| Twist Bioscience Corporation | TWST | $3.5B | - | 7.62 | -16.4% | -30.08 |
| Oruka Therapeutics, Inc. | ORKA | $3.4B | - | 7.07 | -22.5% | -24.94 |
| Liquidia Corporation | LQDA | $3.4B | - | 74.37 | -154.0% | -66.91 |
| Peer Median | - | 21.16 | 7.47 | -22.4% | -21.78 | |