Credit and interest ratesmixed · 5 filings
“Interest Expense Interest expense is attributable to borrowings under our 2029 Notes.”10-Q · Aug 6, 2026 ↗
iRhythm Holdings, Inc.
IRTC
Market read
iRhythm Holdings, Inc.'s current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
What changed
- Revenue increased 20.1% versus the comparable filing period.
- Cash declined 62.4M versus the comparable period.
Company-5.5% todayVolume comparison unavailable
Market group0 of 1 activeAmbulatory Cardiac Monitoring · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Revenue growth was primarily attributed to higher iRhythm Services volume resulting from increased demand.
- The latest 10-Q identifies materials, tariffs, scrap, labor, amortization, and freight as rising costs tied to higher service volume.
Invalidation: The isolated read changes if IRTC's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 20.1% versus the comparable filing period.
- The operating loss narrowed by 16.2M.
Evidence that challenges
- Cash declined 62.4M versus the comparable period.
What would clarify the read
- Revenue growth was primarily attributed to higher iRhythm Services volume resulting from increased demand.
- The latest 10-Q identifies materials, tariffs, scrap, labor, amortization, and freight as rising costs tied to higher service volume.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements75
Verified relationships4
Evidence supporting the case
- Latest annual revenue changed +26.2% year over year.
- Operating margin changed +11.8 percentage points in the latest annual period.
- Net margin changed +13.2 percentage points in the latest annual period.
- Demand and volume has repeated favorable evidence across 5 filings.
Evidence challenging the case
- Diluted shares increased 2.6% in the latest annual period.
Questions before a position
- EV/sales is 56% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
112.786m-5.7%12m-39.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$322.8M+21.7%$-3.46+5.7%
2022-12-31$410.9M+27.3%$-3.88+2.0%
2023-12-31$492.7M+19.9%$-4.04+2.0%
2024-12-31$591.8M+20.1%$-3.63+2.2%
2025-12-31$747.1M+26.2%$-1.39+2.6%
What management says matters
Persistent and emerging business drivers
Demand and volumepositive · 5 filings
“For the three and six months ended June 30, 2026, the increase in revenue was primarily attributable to an increase in volume of iRhythm Services resulting from increased demand.”10-Q · Aug 6, 2026 ↗
Supply chain and availabilitymixed · 5 filings
“For the three and six months ended June 30, 2026, the increase was primarily due to increases in material component costs (inclusive of tariffs), amortization costs related to Zio monitor and Zio AT PCBA, material and PCBA scrap costs, headcount-related costs…”10-Q · Aug 6, 2026 ↗
Input and raw-material costsmixed · 4 filings
“For the three and six months ended June 30, 2026, the increase was primarily due to increases in material component costs (inclusive of tariffs), amortization costs related to Zio monitor and Zio AT PCBA, material and PCBA scrap costs, headcount-related costs…”10-Q · Aug 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.8× · EV/sales 4.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
112.78-5.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for IRTC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing presents a mixed picture
10-Q filed 2026-08-06 against the comparable filing from 2025-07-31.
OperationsconstructiveEvidence score +3
liquiditycautiousEvidence score -1
valuationmixed
Capital and cash conversion
Cash conversion improved
Capital-spending intensity declined while free-cash-flow margin improved.
- Capital spending YoY
- +3.4%
- Capital spending / revenue
- +4.8%
- Free-cash-flow margin
- +1.0%
- FCF margin change
- +1.1 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 20.1% versus the comparable filing period.
- The operating loss narrowed by 16.2M.
What weakened
- Cash declined 62.4M versus the comparable period.
Filing receipts
“Cash provided by operating activities increased by $5.1 million, primarily attributable to reductions in our net loss driven by our revenue growth and timing of payments associated with our accounts payable and accrued liabilities, Offsetting these increases in cash provided from operating activities were increases in our prepaid and other current assets, as well as other long-term assets.”
“For the three and six months ended June 30, 2026, the increase was primarily due to increases in material component costs (inclusive of tariffs), amortization costs related to Zio monitor and Zio AT PCBA, material and PCBA scrap costs, headcount-related costs, and freight costs associated with the increase in volume of iRhythm Services.”
“We expect cost of revenue to increase in absolute dollars as our revenue increases due to increased direct labor, direct materials, and variable spending, as well as amortization of internal-use software, partially offset by economies of scale in relation to fixed costs such as overhead and facilities costs.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind IRTC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
IRTC is currently a Leader in the organic co-movement group Ambulatory Cardiac Monitoring. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for IRTC; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.