IRTC Earnings Prediction
The chart below shows how IRTC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, IRTC sees a +0.42% change in stock price 10 days leading up to the earnings, and a -1.33% change 10 days following the report. On the earnings day itself, the stock moves by -0.55%. This data can give you a slight idea of what to expect for the next quarter's release.
IRTC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
147.54M
18.41%
-0.34%
Gross Margin
68.78%
3.91%
-1.59%
Operating Margin
-11.92%
-39.65%
-23.20%
Net Margin
-31.30%
43.84%
130.49%
EPS
-1.48
-66.29%
127.69%
No Data Available
IRTC Earnings Analysis
iRhythm Technologies, Inc Corporation (IRTC.O) Earnings Conference Call
Positive
Q3 Revenue Growth: iRhythm achieved $147.5 million in revenue for Q3 2024, representing 18.4% year-over-year growth.
Record Demand and New Accounts: The third quarter results were driven by record demand from existing accounts combined with another record quarter of new account openings.
Milestone Patient Registration: The company celebrated its one millionth patient registered for the Zio monitor, showcasing its growing customer base.
User Engagement Milestone: iRhythm's digital product development team celebrated the milestone of more than 1,000,000 patients having used the MyZio patient app, indicating strong user engagement.
Strong Financial Position: The company ended Q3 with approximately $522 million in unrestricted cash and short-term investments, ensuring a strong financial position.
Negative
Q3 Adjusted Net Loss: Adjusted net loss in Q3 of 2024 was approximately negative $39.2 million or a loss of $1.26 per share compared to an adjusted net loss of $24.1 million or an adjusted net loss of $0.79 per share in Q3 of 2023.
Negative Adjusted EBITDA Q3: Adjusted EBITDA in Q3 of 2024 was negative $19.9 million or negative 13.5% of revenue compared to 0.3% in Q3 of 2023 and 3.4% of revenue in Q2 of 2024.
Operating Expenses Increase: Adjusted operating expenses were $143.8 million up 14.9% sequentially and up 34.3% year-over-year.
Technology License Charge: The company incurred a $32.1 million charge for technology licensed that was recognized as acquired in-process research and development expense during Q3.
Remediation Efforts Expenses: The company expects incremental expenses related to these remediation efforts to be approximately $11 million to $13 million for the full year.
IRTC FAQs
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IRTC Earning Call Sentiment
iRhythm Technologies, Inc. (IRTC) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
IRTC.O
6.01%Positive
The earnings call summary shows strong revenue growth and raised guidance, but significant risks remain. Regulatory and financial challenges, including FDA remediation costs and increased operating expenses, are concerning. The Q&A section reveals management's proactive stance but lacks clarity on timelines and impacts. Additionally, the absence of a share repurchase program and a substantial adjusted net loss contribute to a negative outlook. While the raised guidance is positive, the ongoing issues and lack of immediate catalysts suggest a negative stock price reaction, especially given the company's market cap.
