Revenue jumps at iRhythm (NASDAQ: IRTC) as Q1 2026 loss shrinks
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
iRhythm Holdings reported strong first quarter 2026 results with revenue of $199.4 million, up 25.7% from $158.7 million a year earlier, driven by higher Zio service volumes and newer growth channels.
Gross profit rose to $141.4 million with gross margin improving to 70.9%, while operating expenses increased to $157.5 million as the company invested in growth and incurred litigation-related costs. Net loss narrowed to $13.9 million, or $0.43 per share, from $30.7 million, helped by operating leverage and non-GAAP adjustments that lifted adjusted EBITDA to $14.1 million.
Unrestricted cash, cash equivalents, and marketable securities totaled $549.6 million as of March 31, 2026, and the company raised full-year 2026 guidance to revenue of $875–$885 million with an adjusted EBITDA margin of 12%–13%, reflecting expectations for continued volume-led growth and margin expansion.
Positive
- Revenue and profitability trends improved materially: Q1 2026 revenue rose 25.7% year over year to $199.4 million, gross margin expanded to 70.9%, adjusted EBITDA turned positive at $14.1 million, and net loss narrowed to $13.9 million from $30.7 million.
- Guidance raised for full-year 2026: The company now expects revenue between $875 million and $885 million and adjusted EBITDA margin of 12% to 13%, indicating higher anticipated growth and stronger operating leverage than previously projected.
- Robust liquidity supports ongoing investment: Unrestricted cash, cash equivalents, and marketable securities totaled $549.6 million as of March 31, 2026, providing substantial balance sheet capacity to fund operations, innovation, and market expansion.
Negative
- Business remains loss-making with higher cash burn: Despite improvement, Q1 2026 still showed a GAAP net loss of $13.9 million and negative free cash flow of $33.1 million, reflecting continued cash outflows.
- Operating costs and litigation expenses are elevated: Operating expenses increased to $157.5 million, and intellectual property litigation costs were $3.7 million in the quarter, contributing to ongoing losses and cost pressure.
Insights
Strong top-line growth, margin gains and higher guidance offset ongoing losses and cash burn.
iRhythm delivered Q1 2026 revenue of $199.4M, up 25.7% year over year, with gross margin expanding to 70.9%. This translated into a much smaller net loss of $13.9M versus $30.7M, and positive adjusted EBITDA of $14.1M.
Management increased full-year 2026 revenue guidance to $875M–$885M and now targets adjusted EBITDA margin of 12%–13%, signaling confidence in sustained volume growth and operating leverage. A cash and securities balance of $549.6M provides flexibility to fund expansion.
Risks remain: free cash flow was negative $33.1M in the quarter, operating expenses are still rising, and intellectual property litigation costs were elevated. Investors will look to future quarters in 2026 to see whether revenue growth and margin expansion can offset cash burn and legal spending.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q1 2026 revenue: $199.4M
Q1 2026 gross margin: 70.9%
Q1 2026 net loss: $13.9M
+5 more
8 metrics
Q1 2026 revenue
$199.4M
Three months ended March 31, 2026; up 25.7% year over year
Q1 2026 gross margin
70.9%
Gross profit $141.4M on $199.4M revenue; 210 bps improvement vs Q1 2025
Q1 2026 net loss
$13.9M
Net loss for the three months ended March 31, 2026; $0.43 per share
Q1 2026 adjusted EBITDA
$14.1M
Adjusted EBITDA turned positive versus $(2.6)M in Q1 2025
Unrestricted cash & securities
$549.6M
Unrestricted cash, cash equivalents, and marketable securities as of March 31, 2026
Q1 2026 free cash flow
$(33.1M)
Net cash used in operating activities $(26.2)M minus $6.9M capex
2026 revenue guidance
$875M–$885M
Full-year 2026 expected revenue range
2026 adjusted EBITDA margin guidance
12%–13%
Full-year 2026 expected adjusted EBITDA margin
Key Terms
Adjusted EBITDA, free cash flow, business transformation costs, intellectual property litigation costs, +2 more
6 terms
Adjusted EBITDA financial
"Adjusted EBITDA and adjusted EBITDA margin of $14.1 million and 7.1%, respectively"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
free cash flow financial
"Free cash flow reconciliation* Net cash used in operating activities ... Free cash flow"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
business transformation costs financial
"Business transformation costs include costs associated with professional services, employee termination and relocation"
intellectual property litigation costs financial
"Intellectual property litigation costs 2 | 3,689 | | | 832"
non-GAAP financial measures financial
"We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP)"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
long-term senior convertible notes financial
"Long-term senior convertible notes | 650,313 | | | 649,504"
Earnings Snapshot
Revenue: $199.4M · Guidance included
Q1 2026
Revenue
$199.4M
+25.7% YoY
Gross margin
70.9%
+210 bps YoY
Net loss
$13.9M
Improved from $30.7M YoY
Adjusted EBITDA
$14.1M
Improved from $(2.6)M YoY
Free cash flow
$(33.1M)
More negative vs $(17.3)M YoY
Guidance
For full-year 2026, iRhythm expects revenue of $875M–$885M and adjusted EBITDA margin of 12%–13%.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 30, 2026
(Exact name of Registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||||||||||||||
(Address of principal executive office) (Zip Code)
(415 ) 632-5700
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On April 30, 2026, iRhythm Holdings, Inc. issued a press release regarding its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
The information in this Item 2.02, including Exhibit 99.1 to this Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any other filing under the Exchange Act or under the Securities Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
| (d) | Exhibits. | ||||||||||||||||
| Exhibit No. | Description | |||||||||||||||||||||||||
| 99.1 | Press release issued by iRhythm Holdings, Inc., dated as of April 30, 2026 | |||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||||||||||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IRHYTHM HOLDINGS, INC. | |||||||||||||||||||||||||||||||||||
Date: April 30, 2026 | By: | /s/ Daniel Wilson | |||||||||||||||||||||||||||||||||
| Daniel Wilson | |||||||||||||||||||||||||||||||||||
| Chief Financial Officer | |||||||||||||||||||||||||||||||||||
Exhibit 99.1
iRhythm Holdings Announces First Quarter 2026 Financial Results
SAN FRANCISCO, April 30, 2026 -- iRhythm Holdings, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today reported financial results for the three months ended March 31, 2026.
First Quarter 2026 Financial Highlights
•Revenue of $199.4 million, a 25.7% increase compared to first quarter 2025
•Gross margin of 70.9%, a 210-basis point increase compared to first quarter 2025
•Net loss of $13.9 million, a $16.8 million improvement compared to first quarter 2025
•Adjusted EBITDA and adjusted EBITDA margin of $14.1 million and 7.1%, respectively, a $16.7 million and 880-basis point improvement, respectively, compared to first quarter 2025
•Unrestricted cash, cash equivalents, and marketable securities of $549.6 million as of March 31, 2026
•Increased fiscal year 2026 revenue guidance to $875 million to $885 million and adjusted EBITDA margin to 12.0% to 13.0%
Recent Operational Highlights
•Delivered another strong quarter, demonstrated by robust volume led revenue growth and expanded margins, with continued momentum across cardiology, primary care, innovative channels, and international markets
•Presented data at ACC and HRS further demonstrating the benefits of iRhythm’s Zio® ambulatory ECG portfolio across multiple patient populations as company launches new digital education platform
“We delivered a strong start to 2026, with continued revenue growth reflecting durable demand for our platform and increasing adoption across multiple care settings,” said Quentin Blackford, President and Chief Executive Officer of iRhythm. “We are increasingly diversified across channels, with meaningful contributions from Zio monitor, Zio AT, innovative partnerships, and international markets. As we advance our AI-enabled capabilities and expand into earlier detection, we believe we are unlocking a significantly larger opportunity to improve patient outcomes while providing an integrated solution that lowers the total cost of cardiac care.”
First Quarter 2026 Financial Results
Revenue for the first quarter of 2026 was $199.4 million, up 25.7% from $158.7 million during the same period in 2025. The increase was driven primarily by sustained volume demand across our customer base, reflecting continued strength in our core business and contributions from newer growth channels.
Gross profit for the first quarter of 2026 was $141.4 million, up 29.4% from $109.2 million during the same period in 2025, while gross margin was 70.9%, a 210-basis point improvement compared to first quarter 2025. The increase in gross profit was primarily due to increased volume of Zio services. The increase in gross margin was primarily driven by continued operational efficiencies, as well as scale benefits from higher volumes.
Operating expenses for the first quarter of 2026 were $157.5 million, compared to $141.8 million for the same period in 2025. Adjusted operating expenses for the first quarter of 2026 were $153.5 million, compared to $140.4 million during the same period in 2025. The increase in adjusted operating expenses, period over period, was driven by an increase in volume-related costs to serve, litigation-related expenses and investments to drive future revenue growth.
Net loss for the first quarter of 2026 was $13.9 million, or a net loss of $0.43 per diluted share, compared with net loss of $30.7 million, or net loss of $0.97 per diluted share, for the same period in 2025. Adjusted net loss for the first quarter of 2026 was $11.3 million, or net loss of $0.35 per diluted share, compared with an adjusted net loss of $30.3 million, or net loss of $0.95 per diluted share, for the same period in 2025. The decrease in net loss was primarily driven by our revenue growth and operating leverage achieved through implementation of efficiency initiatives.
Unrestricted cash, cash equivalents, and marketable securities were $549.6 million as of March 31, 2026.
Exhibit 99.1
2026 Annual Guidance
For the full year 2026, iRhythm expects revenue between $875 million and $885 million and adjusted EBITDA margin between 12% and 13%, reflecting continued volume-led growth, gross margin expansion, and operating leverage while maintaining disciplined investment in innovation and market expansion.
Webcast and Conference Call Information
iRhythm’s management team will host a conference call today beginning at 1:30 p.m. PT/4:30 p.m. ET. Interested parties may access a live and archived webcast of the presentation on the “Events & Presentations” section of the company’s investor website at investors.irhythmtech.com.
About iRhythm Holdings, Inc.
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.
Use of Non-GAAP Financial Measures
We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP) in this press release, including adjusted EBITDA, adjusted EBITDA margin, adjusted net loss, adjusted net loss per share, adjusted operating expenses and free cash flow. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. See the schedules attached to this press release for additional information and reconciliations of such non-GAAP financial measures. We have not reconciled our adjusted operating expenses and adjusted EBITDA margin estimates for full year 2026 because certain items that impact these figures are uncertain or out of our control and cannot be reasonably predicted. Accordingly, a reconciliation of adjusted operating expenses and adjusted EBITDA estimates is not available without unreasonable effort.
Adjusted EBITDA excludes non-cash operating charges for stock-based compensation expense, changes in fair value of strategic investments, impairment and restructuring charges, business transformation costs, certain intellectual property litigation expenses and settlements, and loss on extinguishment of debt. Business transformation costs include costs associated with professional services, employee termination and relocation, third-party merger and acquisition, integration, and other costs to augment and restructure the organization, inclusive of both outsourced and offshore resources.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future actions or operating or financial performance. In particular, these statements include statements regarding financial guidance, market opportunity, ability to penetrate the market, expansion into new health programs, international market expansion, anticipated productivity and quality improvements, anticipated demand for our products and expectations for growth. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled “Risk Factors” and elsewhere in our filings made with the Securities and Exchange Commission, including those on the Form 10-Q expected to be filed on or about April 30, 2026. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. iRhythm disclaims any obligation to update these forward-looking statements.
Investor Contact
investors@irhythmtech.com
Media Contact
Kassandra Perry
mediarelations@irhythmtech.com
Exhibit 99.1
IRHYTHM HOLDINGS, INC.
Condensed Consolidated Balance Sheets
(In thousands, except par value)
(unaudited)
| March 31, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 240,146 | $ | 236,012 | |||||||
| Marketable securities | 309,474 | 347,751 | |||||||||
| Accounts receivable, net | 80,863 | 75,706 | |||||||||
| Inventory | 23,800 | 21,634 | |||||||||
| Prepaid expenses and other current assets | 26,275 | 21,662 | |||||||||
| Total current assets | 680,558 | 702,765 | |||||||||
| Property and equipment, net | 156,704 | 151,599 | |||||||||
| Operating lease right-of-use assets | 40,324 | 41,827 | |||||||||
Restricted cash | 8,358 | 8,358 | |||||||||
| Goodwill | 862 | 862 | |||||||||
| Long-term strategic investments | 72,860 | 69,913 | |||||||||
| Other assets | 46,699 | 44,718 | |||||||||
| Total assets | $ | 1,006,365 | $ | 1,020,042 | |||||||
| Liabilities and Stockholders’ Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 8,559 | $ | 2,256 | |||||||
| Accrued liabilities | 102,342 | 128,747 | |||||||||
| Deferred revenue | 4,056 | 4,201 | |||||||||
| Operating lease liabilities, current portion | 16,793 | 16,686 | |||||||||
| Total current liabilities | 131,750 | 151,890 | |||||||||
| Long-term senior convertible notes | 650,313 | 649,504 | |||||||||
| Other noncurrent liabilities | 907 | 908 | |||||||||
| Operating lease liabilities, noncurrent portion | 62,185 | 64,994 | |||||||||
| Total liabilities | 845,155 | 867,296 | |||||||||
| Stockholders’ equity: | |||||||||||
Preferred stock, $0.001 par value – 5,000 shares authorized; none issued and outstanding at March 31, 2026 and December 31, 2025 | — | — | |||||||||
Common stock, $0.001 par value – 100,000 shares authorized; 33,083 shares issued and 32,854 shares outstanding at March 31, 2026, respectively; and 32,526 shares issued and 32,297 shares outstanding at December 31, 2025, respectively | 33 | 32 | |||||||||
| Additional paid-in capital | 1,003,514 | 980,757 | |||||||||
Accumulated other comprehensive income | 42 | 403 | |||||||||
| Accumulated deficit | (817,379) | (803,446) | |||||||||
Treasury stock, at cost; 229 shares at March 31, 2026 and December 31, 2025 | (25,000) | (25,000) | |||||||||
| Total stockholders’ equity | 161,210 | 152,746 | |||||||||
| Total liabilities and stockholders’ equity | $ | 1,006,365 | $ | 1,020,042 | |||||||
Exhibit 99.1
IRHYTHM HOLDINGS, INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(unaudited)
| Three Months Ended March 31, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Revenue, net | $ | 199,390 | $ | 158,677 | ||||||||||
| Cost of revenue | 58,037 | 49,461 | ||||||||||||
| Gross profit | 141,353 | 109,216 | ||||||||||||
| Operating expenses: | ||||||||||||||
| Research and development | 21,358 | 21,519 | ||||||||||||
| Acquired in-process research and development | 296 | 296 | ||||||||||||
| Selling, general and administrative | 135,884 | 119,957 | ||||||||||||
| Total operating expenses | 157,538 | 141,772 | ||||||||||||
| Loss from operations | (16,185) | (32,556) | ||||||||||||
Interest and other income, net: | ||||||||||||||
| Interest income | 4,879 | 4,919 | ||||||||||||
| Interest expense | (3,290) | (3,273) | ||||||||||||
Other income, net | 1,163 | 875 | ||||||||||||
Total interest and other income, net | 2,752 | 2,521 | ||||||||||||
| Loss before income taxes | (13,433) | (30,035) | ||||||||||||
Income tax provision | 500 | 665 | ||||||||||||
| Net loss | $ | (13,933) | $ | (30,700) | ||||||||||
| Net loss per common share, basic and diluted | $ | (0.43) | $ | (0.97) | ||||||||||
| Weighted-average shares, basic and diluted | 32,507 | 31,590 | ||||||||||||
Exhibit 99.1
IRHYTHM HOLDINGS, INC.
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(unaudited)
| Three Months Ended March 31, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Adjusted EBITDA reconciliation* | ||||||||||||||
Net loss, as reported1 | $ | (13,933) | $ | (30,700) | ||||||||||
| Interest expense | 3,290 | 3,273 | ||||||||||||
| Interest income | (4,879) | (4,919) | ||||||||||||
| Changes in fair value of strategic investments | (1,447) | (843) | ||||||||||||
Income tax provision | 500 | 665 | ||||||||||||
| Depreciation and amortization | 5,042 | 5,210 | ||||||||||||
| Stock-based compensation | 21,491 | 23,344 | ||||||||||||
| Business transformation costs | 346 | 503 | ||||||||||||
Intellectual property litigation costs2 | 3,689 | 832 | ||||||||||||
| Adjusted EBITDA | $ | 14,099 | $ | (2,635) | ||||||||||
| Adjusted net loss reconciliation* | ||||||||||||||
Net loss, as reported1 | $ | (13,933) | $ | (30,700) | ||||||||||
| Business transformation costs | 346 | 503 | ||||||||||||
Intellectual property litigation costs2 | 3,689 | 832 | ||||||||||||
| Changes in fair value of strategic investments | (1,447) | (843) | ||||||||||||
Tax effect of adjustments3 | — | (91) | ||||||||||||
| Adjusted net loss | $ | (11,345) | $ | (30,299) | ||||||||||
| Adjusted net loss per share reconciliation* | ||||||||||||||
Net loss per share, as reported1 | $ | (0.43) | $ | (0.97) | ||||||||||
| Business transformation costs per share | 0.01 | 0.02 | ||||||||||||
Intellectual property litigation costs per share2 | 0.11 | 0.03 | ||||||||||||
| Changes in fair value of strategic investments per share | (0.04) | (0.03) | ||||||||||||
Tax effect of adjustments per share3 | — | — | ||||||||||||
Adjusted net loss per share | $ | (0.35) | $ | (0.95) | ||||||||||
| Weighted-average shares, basic and diluted | 32,507 | 31,590 | ||||||||||||
Adjusted operating expenses reconciliation* | ||||||||||||||
Operating expenses, as reported | $ | 157,538 | $ | 141,772 | ||||||||||
| Business transformation costs | (346) | (503) | ||||||||||||
Intellectual property litigation costs2 | (3,689) | (832) | ||||||||||||
Adjusted operating expenses | $ | 153,503 | $ | 140,437 | ||||||||||
*Certain numbers expressed may not sum due to rounding.
1 Net loss for the three months ended March 31, 2026 and 2025, includes $0.3 million of acquired in-process research and development expense.
2 Excludes third-party attorneys' fees and expenses associated with patent litigation brought against the Company by Welch Allyn, Inc. and Bardy Diagnostics, Inc., subsidiaries of Baxter International, Inc.
3 Income tax impact of Non-GAAP adjustments listed.
Exhibit 99.1
| Three Months Ended March 31, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
Free cash flow reconciliation* | ||||||||||||||
Net cash used in operating activities | $ | (26,173) | $ | (7,891) | ||||||||||
Purchases of property and equipment | (6,905) | (9,419) | ||||||||||||
Free cash flow | $ | (33,078) | $ | (17,310) | ||||||||||
*Certain numbers expressed may not sum due to rounding.
FAQ
How did iRhythm (IRTC) perform financially in Q1 2026?
iRhythm reported Q1 2026 revenue of $199.4 million, up 25.7% year over year, with gross margin of 70.9%. Net loss narrowed to $13.9 million, or $0.43 per share, and adjusted EBITDA improved to $14.1 million, turning positive versus a loss last year.
What guidance did iRhythm (IRTC) give for full-year 2026?
For 2026, iRhythm expects revenue between $875 million and $885 million and an adjusted EBITDA margin of 12% to 13%. This outlook reflects anticipated volume-led growth, ongoing gross margin expansion, and further operating leverage from efficiency initiatives.
Is iRhythm (IRTC) profitable and what was its Q1 2026 net loss?
iRhythm is not yet profitable, but losses are shrinking. In Q1 2026, it reported a net loss of $13.9 million, or $0.43 per share, compared with a net loss of $30.7 million a year earlier, supported by higher revenue and improved margins.
What is iRhythm’s (IRTC) cash position as of March 31, 2026?
As of March 31, 2026, iRhythm held $549.6 million in unrestricted cash, cash equivalents, and marketable securities. This sizeable liquidity base provides financial flexibility to fund operations, litigation costs, and ongoing investments in innovation and market expansion.
How did iRhythm’s margins change in Q1 2026 versus 2025?
Q1 2026 gross profit rose to $141.4 million and gross margin improved to 70.9%, a 210-basis-point increase versus Q1 2025. Adjusted EBITDA margin reached 7.1%, an 880-basis-point improvement, reflecting operational efficiencies and scale benefits from higher volumes.
What was iRhythm’s free cash flow in Q1 2026?
In Q1 2026, iRhythm reported free cash flow of negative $33.1 million, calculated from $26.2 million of net cash used in operating activities and $6.9 million in capital expenditures. This indicates the company is still consuming cash despite improved profitability metrics.