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iRhythm Holdings, Inc Financials

IRTC
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows iRhythm Holdings, Inc (IRTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 35 / 100
Financial Profile 35/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
5

iRhythm Holdings, Inc has an operating margin of -7.7%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 5/100, suggesting thin profitability after operating expenses. This is up from -19.5% the prior year.

Growth
77

iRhythm Holdings, Inc's revenue surged 26.2% year-over-year to $747.1M, reflecting rapid business expansion. This strong growth earns a score of 77/100.

Leverage
0

iRhythm Holdings, Inc has elevated debt relative to equity (D/E of 5.68), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity
92

With a current ratio of 4.63, iRhythm Holdings, Inc holds $4.63 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 92/100.

Cash Flow
37

iRhythm Holdings, Inc has a free cash flow margin of 4.6%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
0

iRhythm Holdings, Inc generates a -29.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -124.6% the prior year.

Piotroski F-Score Neutral
5/9

iRhythm Holdings, Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed
-1.82x

For every $1 of reported earnings, iRhythm Holdings, Inc generates $-1.82 in operating cash flow ($80.9M OCF vs -$44.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-4.4x

iRhythm Holdings, Inc earns $-4.4 in operating income for every $1 of interest expense (-$57.4M vs $13.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$747.1M
YoY+26.2%
5Y CAGR+23.0%
10Y CAGR+35.4%

iRhythm Holdings, Inc generated $747.1M in revenue in fiscal year 2025. This represents an increase of 26.2% from the prior year.

EBITDA
-$36.7M
YoY+61.3%

iRhythm Holdings, Inc's EBITDA was -$36.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 61.3% from the prior year.

Net Income
-$44.6M
YoY+60.7%

iRhythm Holdings, Inc reported -$44.6M in net income in fiscal year 2025. This represents an increase of 60.7% from the prior year.

EPS (Diluted)
$-1.39
YoY+61.7%

iRhythm Holdings, Inc earned $-1.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 61.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$34.5M
YoY+213.0%

iRhythm Holdings, Inc generated $34.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 213.0% from the prior year.

Cash & Debt
$236.0M
YoY-43.8%
5Y CAGR+21.6%
10Y CAGR+25.1%

iRhythm Holdings, Inc held $236.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
32M
YoY+2.9%
5Y CAGR+2.2%

iRhythm Holdings, Inc had 32M shares outstanding in fiscal year 2025. This represents an increase of 2.9% from the prior year.

Margins & Returns

Gross Margin
70.6%
YoY+1.7pp
5Y CAGR-2.9pp
10Y CAGR+11.3pp

iRhythm Holdings, Inc's gross margin was 70.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.

Operating Margin
-7.7%
YoY+11.8pp
5Y CAGR+8.8pp
10Y CAGR+52.2pp

iRhythm Holdings, Inc's operating margin was -7.7% in fiscal year 2025, reflecting core business profitability. This is up 11.8 percentage points from the prior year.

Net Margin
-6.0%
YoY+13.2pp
5Y CAGR+10.6pp
10Y CAGR+57.1pp

iRhythm Holdings, Inc's net profit margin was -6.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 13.2 percentage points from the prior year.

Return on Equity
-29.2%
YoY+95.4pp
5Y CAGR-16.3pp

iRhythm Holdings, Inc's ROE was -29.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 95.4 percentage points from the prior year.

Capital Allocation

R&D Spending
$84.6M
YoY+18.4%
5Y CAGR+15.4%
10Y CAGR+29.6%

iRhythm Holdings, Inc invested $84.6M in research and development in fiscal year 2025. This represents an increase of 18.4% from the prior year.

Share Buybacks
$0
YoY-100.0%

iRhythm Holdings, Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures
$46.3M
YoY+36.5%
5Y CAGR+27.9%
10Y CAGR+38.5%

iRhythm Holdings, Inc invested $46.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 36.5% from the prior year.

IRTC Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $208.9M+8.3% $192.9M+3.3% $186.7M+17.7% $158.7M-3.4% $164.3M+11.4% $147.5M-0.3% $148.0M+12.2% $131.9M
Cost of Revenue $60.8M+9.1% $55.8M+3.6% $53.8M+8.8% $49.5M+0.4% $49.3M+6.9% $46.1M+3.3% $44.6M+0.4% $44.4M
Gross Profit $148.1M+8.0% $137.1M+3.2% $132.9M+21.6% $109.2M-5.1% $115.1M+13.4% $101.5M-1.9% $103.5M+18.2% $87.5M
R&D Expenses $21.0M+0.1% $21.0M+0.1% $21.0M-2.4% $21.5M+12.8% $19.1M+21.6% $15.7M-20.3% $19.7M+15.9% $17.0M
SG&A Expenses $122.0M-1.8% $124.2M-1.7% $126.4M+5.4% $120.0M+20.2% $99.8M-3.5% $103.4M-3.2% $106.8M-1.7% $108.7M
Operating Income $2.3M+127.1% -$8.4M+54.9% -$18.7M+42.5% -$32.6M-697.4% -$4.1M+91.9% -$50.3M-118.9% -$23.0M+39.7% -$38.1M
Interest Expense $3.3M+1.2% $3.3M+0.1% $3.3M+0.2% $3.3M-4.5% $3.4M+4.7% $3.3M+0.4% $3.3M+14.0% $2.9M
Income Tax $447K+1762.5% $24K+113.1% -$183K-127.5% $665K+340.4% $151K-19.7% $188K-3.1% $194K+506.3% $32K
Net Income $5.6M+207.0% -$5.2M+63.3% -$14.2M+53.7% -$30.7M-2203.1% -$1.3M+97.1% -$46.2M-129.7% -$20.1M+56.0% -$45.7M
EPS (Diluted) N/A $-0.16+63.6% $-0.44+54.6% $-0.97 N/A $-1.48-127.7% $-0.65+55.8% $-1.47

IRTC Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $1.0B+2.5% $995.2M+3.2% $964.0M+4.1% $926.1M-0.6% $931.4M+2.4% $909.7M-1.0% $919.2M+1.0% $909.8M
Current Assets $702.8M+3.3% $680.0M+2.4% $663.9M+4.4% $636.0M-1.5% $645.8M+2.9% $627.9M-7.3% $677.5M-1.4% $687.5M
Cash & Equivalents $236.0M-7.7% $255.6M-17.3% $309.1M-17.6% $375.3M-10.6% $419.6M-19.2% $519.5M-5.6% $550.6M+5.8% $520.4M
Inventory $21.6M+10.6% $19.6M+6.3% $18.4M+28.3% $14.3M+2.1% $14.0M-6.6% $15.0M-2.5% $15.4M+3.7% $14.9M
Accounts Receivable $75.7M-0.6% $76.2M-7.3% $82.2M+1.9% $80.6M+0.9% $79.9M+3.2% $77.4M-9.5% $85.5M-4.7% $89.7M
Goodwill $862K0.0% $862K0.0% $862K0.0% $862K0.0% $862K0.0% $862K0.0% $862K0.0% $862K
Total Liabilities $867.3M-0.7% $873.3M+1.5% $860.4M+2.5% $839.4M-0.1% $840.5M+0.3% $837.9M+2.2% $820.0M+0.1% $819.5M
Current Liabilities $151.9M+3.4% $146.9M+11.1% $132.2M+18.7% $111.3M+0.4% $110.9M+10.8% $100.1M+2.3% $97.9M+1.1% $96.8M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $152.7M+25.3% $121.9M+17.6% $103.7M+19.6% $86.7M-4.7% $90.9M+26.7% $71.8M-27.6% $99.2M+9.9% $90.3M
Retained Earnings -$803.4M+0.7% -$809.0M-0.6% -$803.8M-1.8% -$789.6M-4.0% -$758.9M-0.2% -$757.6M-6.5% -$711.4M-2.9% -$691.3M

IRTC Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $26.2M-24.9% $34.9M+26.1% $27.7M+450.5% -$7.9M-141.0% $19.2M-21.0% $24.3M+105.6% $11.8M+122.8% -$52.0M
Capital Expenditures $11.7M-21.0% $14.8M+43.0% $10.4M+10.1% $9.4M+37.6% $6.8M-22.5% $8.8M+4.1% $8.5M-13.2% $9.8M
Free Cash Flow $14.5M-27.7% $20.1M+16.0% $17.3M+199.9% -$17.3M-239.7% $12.4M-20.1% $15.5M+362.8% $3.4M+105.4% -$61.8M
Investing Cash Flow -$48.8M+45.3% -$89.2M+11.6% -$100.9M-164.6% -$38.1M+68.8% -$122.2M-120.8% -$55.3M-481.3% $14.5M-63.7% $40.0M
Financing Cash Flow $3.0M+258.7% $825K-88.4% $7.1M+310.3% $1.7M-42.1% $3.0M+8634.3% -$35K-100.9% $3.8M-99.2% $504.6M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $0 $0 $0 $0 $0 $0 $0-100.0% $25.0M

IRTC Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 70.9%-0.2pp 71.1%-0.1pp 71.2%+2.3pp 68.8%-1.2pp 70.0%+1.2pp 68.8%-1.1pp 69.9%+3.5pp 66.3%
Operating Margin 1.1%+5.5pp -4.4%+5.6pp -10.0%+10.5pp -20.5%-18.0pp -2.5%+31.6pp -34.1%-18.6pp -15.5%+13.4pp -28.9%
Net Margin 2.7%+5.4pp -2.7%+4.9pp -7.6%+11.7pp -19.4%-18.5pp -0.8%+30.5pp -31.3%-17.7pp -13.6%+21.0pp -34.6%
Return on Equity 3.6%+7.9pp -4.3%+9.4pp -13.7%+21.7pp -35.4%-34.0pp -1.5%+62.9pp -64.3%-44.1pp -20.3%+30.3pp -50.6%
Return on Assets 0.5%+1.1pp -0.5%+0.9pp -1.5%+1.8pp -3.3%-3.2pp -0.1%+4.9pp -5.1%-2.9pp -2.2%+2.8pp -5.0%
Current Ratio 4.630.0 4.63-0.4 5.02-0.7 5.71-0.1 5.82-0.5 6.27-0.6 6.92-0.2 7.10
Debt-to-Equity 5.68-1.5 7.16-1.1 8.30-1.4 9.69+0.4 9.25-2.4 11.68+3.4 8.27-0.8 9.08
FCF Margin 6.9%-3.5pp 10.4%+1.1pp 9.3%+20.2pp -10.9%-18.4pp 7.5%-3.0pp 10.5%+8.3pp 2.3%+49.1pp -46.9%

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Frequently Asked Questions

iRhythm Holdings, Inc (IRTC) reported $747.1M in total revenue for fiscal year 2025. This represents a 26.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

iRhythm Holdings, Inc (IRTC) revenue grew by 26.2% year-over-year, from $591.8M to $747.1M in fiscal year 2025.

No, iRhythm Holdings, Inc (IRTC) reported a net income of -$44.6M in fiscal year 2025, with a net profit margin of -6.0%.

iRhythm Holdings, Inc (IRTC) reported diluted earnings per share of $-1.39 for fiscal year 2025. This represents a 61.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

iRhythm Holdings, Inc (IRTC) had EBITDA of -$36.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

iRhythm Holdings, Inc (IRTC) had a gross margin of 70.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

iRhythm Holdings, Inc (IRTC) had an operating margin of -7.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

iRhythm Holdings, Inc (IRTC) had a net profit margin of -6.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

iRhythm Holdings, Inc (IRTC) has a return on equity of -29.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

iRhythm Holdings, Inc (IRTC) generated $34.5M in free cash flow during fiscal year 2025. This represents a 213.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

iRhythm Holdings, Inc (IRTC) generated $80.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

iRhythm Holdings, Inc (IRTC) had $1.0B in total assets as of fiscal year 2025, including both current and long-term assets.

iRhythm Holdings, Inc (IRTC) invested $46.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

iRhythm Holdings, Inc (IRTC) invested $84.6M in research and development during fiscal year 2025.

iRhythm Holdings, Inc (IRTC) had 32M shares outstanding as of fiscal year 2025.

iRhythm Holdings, Inc (IRTC) had a current ratio of 4.63 as of fiscal year 2025, which is generally considered healthy.

iRhythm Holdings, Inc (IRTC) had a debt-to-equity ratio of 5.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

iRhythm Holdings, Inc (IRTC) had a return on assets of -4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

iRhythm Holdings, Inc (IRTC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

iRhythm Holdings, Inc (IRTC) has an earnings quality ratio of -1.82x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

iRhythm Holdings, Inc (IRTC) has an interest coverage ratio of -4.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

iRhythm Holdings, Inc (IRTC) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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