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iRhythm Technologies (IRTC) investor relations material
iRhythm Technologies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record Q3 2025 revenue of $192.9 million, up 31% year-over-year, driven by strong demand for Zio Monitor and Zio AT, primary care expansion, and new market penetration.
Gross margin improved to 71.1%, a 230-basis point increase from Q3 2024, reflecting operational efficiencies and favorable product mix.
Net loss narrowed significantly to $5.2 million ($0.16 per share), with adjusted net loss at $2.0 million ($0.06 per share), both improved from prior year.
Record free cash flow generated in the quarter, with expectations to be free cash flow positive for the full year for the first time.
Operational scalability, EHR integration, and international expansion (notably in Japan, U.K., and E.U.) fueled momentum.
Financial highlights
Q3 2025 revenue reached $192.9 million, up from $147.5 million in Q3 2024, a 30.7% year-over-year increase.
Gross profit was $137.1 million, up 35.1% year-over-year, with gross margin at 71.1%.
Adjusted EBITDA was $21.6 million, a substantial improvement from a loss of $19.9 million in Q3 2024.
Operating expenses were $145.6 million (GAAP), $141.4 million (adjusted), both down from prior year.
Unrestricted cash, cash equivalents, and marketable securities totaled $565.2 million at quarter end.
Outlook and guidance
Full-year 2025 revenue guidance raised to $735–$740 million, representing 24–25% year-over-year growth.
Adjusted EBITDA margin for 2025 expected at 8.25–8.75% of revenues.
Full-year gross margin expected to slightly exceed 2024, despite a 50 basis point negative impact from tariffs.
Expect to be free cash flow positive for the full year 2025.
2026 guidance will be prudent, with upside potential from MCT approval and innovative channels.
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