iRhythm Technologies (IRTC) Bank of America Global Healthcare Conference 2026 summary

Regulatory and market updates

• Recent LCD proposal revisions increased patient access, including new indications for systemic emboli and pre/post-TAVR, following industry feedback.

• CMS and MACs' engagement process led to favorable final LCD language, supporting broader clinical use.

• Company maintains strong compliance with Medicare Advantage guidelines, emphasizing definitive diagnostics and care pathways.

Financial performance and guidance

• Q1 revenue exceeded expectations with a 3% beat, marking the sixth consecutive quarter of over 20% growth, led by core and innovative channels.

• Innovative channel remains the fastest-growing segment, expected to continue its momentum throughout the year.

• Guidance remains conservative due to tough year-over-year comps, especially in the latter half of the year.

• Q1 margin outperformance driven by manufacturing automation, workflow efficiencies, and SG&A leverage, resulting in a 7% adjusted EBITDA margin.

Product development and innovation

• Zio MCT regulatory path clarified with FDA, targeting a first half 2027 launch; submission will follow completion of all required testing.

• Market share in MCT segment has grown to 15%, with Zio MCT expected to close competitive gaps and accelerate share gains.

• Next-gen AI algorithm, pending FDA approval, promises 50% scan time savings and over $100 million in cost savings over five years.

• Zio MCT, with a 21-day wear time and enhanced algorithms, is expected to be accretive to gross margins without increasing revenue per test.