This page shows iRhythm Holdings, Inc (IRTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
iRhythm Holdings, Inc has an operating margin of -7.7%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 5/100, suggesting thin profitability after operating expenses. This is up from -19.5% the prior year.
iRhythm Holdings, Inc's revenue surged 26.2% year-over-year to $747.1M, reflecting rapid business expansion. This strong growth earns a score of 77/100.
iRhythm Holdings, Inc has elevated debt relative to equity (D/E of 5.68), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
With a current ratio of 4.63, iRhythm Holdings, Inc holds $4.63 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 92/100.
iRhythm Holdings, Inc has a free cash flow margin of 4.6%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.
iRhythm Holdings, Inc generates a -29.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -124.6% the prior year.
iRhythm Holdings, Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, iRhythm Holdings, Inc generates $-1.82 in operating cash flow ($80.9M OCF vs -$44.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
iRhythm Holdings, Inc earns $-4.4 in operating income for every $1 of interest expense (-$57.4M vs $13.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
iRhythm Holdings, Inc generated $747.1M in revenue in fiscal year 2025. This represents an increase of 26.2% from the prior year.
iRhythm Holdings, Inc's EBITDA was -$36.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 61.3% from the prior year.
iRhythm Holdings, Inc reported -$44.6M in net income in fiscal year 2025. This represents an increase of 60.7% from the prior year.
iRhythm Holdings, Inc earned $-1.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 61.7% from the prior year.
Cash & Balance Sheet
iRhythm Holdings, Inc generated $34.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 213.0% from the prior year.
iRhythm Holdings, Inc held $236.0M in cash against $0 in long-term debt as of fiscal year 2025.
iRhythm Holdings, Inc had 32M shares outstanding in fiscal year 2025. This represents an increase of 2.9% from the prior year.
Margins & Returns
iRhythm Holdings, Inc's gross margin was 70.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
iRhythm Holdings, Inc's operating margin was -7.7% in fiscal year 2025, reflecting core business profitability. This is up 11.8 percentage points from the prior year.
iRhythm Holdings, Inc's net profit margin was -6.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 13.2 percentage points from the prior year.
iRhythm Holdings, Inc's ROE was -29.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 95.4 percentage points from the prior year.
Capital Allocation
iRhythm Holdings, Inc invested $84.6M in research and development in fiscal year 2025. This represents an increase of 18.4% from the prior year.
iRhythm Holdings, Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
iRhythm Holdings, Inc invested $46.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 36.5% from the prior year.
IRTC Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $208.9M+8.3% | $192.9M+3.3% | $186.7M+17.7% | $158.7M-3.4% | $164.3M+11.4% | $147.5M-0.3% | $148.0M+12.2% | $131.9M |
| Cost of Revenue | $60.8M+9.1% | $55.8M+3.6% | $53.8M+8.8% | $49.5M+0.4% | $49.3M+6.9% | $46.1M+3.3% | $44.6M+0.4% | $44.4M |
| Gross Profit | $148.1M+8.0% | $137.1M+3.2% | $132.9M+21.6% | $109.2M-5.1% | $115.1M+13.4% | $101.5M-1.9% | $103.5M+18.2% | $87.5M |
| R&D Expenses | $21.0M+0.1% | $21.0M+0.1% | $21.0M-2.4% | $21.5M+12.8% | $19.1M+21.6% | $15.7M-20.3% | $19.7M+15.9% | $17.0M |
| SG&A Expenses | $122.0M-1.8% | $124.2M-1.7% | $126.4M+5.4% | $120.0M+20.2% | $99.8M-3.5% | $103.4M-3.2% | $106.8M-1.7% | $108.7M |
| Operating Income | $2.3M+127.1% | -$8.4M+54.9% | -$18.7M+42.5% | -$32.6M-697.4% | -$4.1M+91.9% | -$50.3M-118.9% | -$23.0M+39.7% | -$38.1M |
| Interest Expense | $3.3M+1.2% | $3.3M+0.1% | $3.3M+0.2% | $3.3M-4.5% | $3.4M+4.7% | $3.3M+0.4% | $3.3M+14.0% | $2.9M |
| Income Tax | $447K+1762.5% | $24K+113.1% | -$183K-127.5% | $665K+340.4% | $151K-19.7% | $188K-3.1% | $194K+506.3% | $32K |
| Net Income | $5.6M+207.0% | -$5.2M+63.3% | -$14.2M+53.7% | -$30.7M-2203.1% | -$1.3M+97.1% | -$46.2M-129.7% | -$20.1M+56.0% | -$45.7M |
| EPS (Diluted) | N/A | $-0.16+63.6% | $-0.44+54.6% | $-0.97 | N/A | $-1.48-127.7% | $-0.65+55.8% | $-1.47 |
IRTC Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.0B+2.5% | $995.2M+3.2% | $964.0M+4.1% | $926.1M-0.6% | $931.4M+2.4% | $909.7M-1.0% | $919.2M+1.0% | $909.8M |
| Current Assets | $702.8M+3.3% | $680.0M+2.4% | $663.9M+4.4% | $636.0M-1.5% | $645.8M+2.9% | $627.9M-7.3% | $677.5M-1.4% | $687.5M |
| Cash & Equivalents | $236.0M-7.7% | $255.6M-17.3% | $309.1M-17.6% | $375.3M-10.6% | $419.6M-19.2% | $519.5M-5.6% | $550.6M+5.8% | $520.4M |
| Inventory | $21.6M+10.6% | $19.6M+6.3% | $18.4M+28.3% | $14.3M+2.1% | $14.0M-6.6% | $15.0M-2.5% | $15.4M+3.7% | $14.9M |
| Accounts Receivable | $75.7M-0.6% | $76.2M-7.3% | $82.2M+1.9% | $80.6M+0.9% | $79.9M+3.2% | $77.4M-9.5% | $85.5M-4.7% | $89.7M |
| Goodwill | $862K0.0% | $862K0.0% | $862K0.0% | $862K0.0% | $862K0.0% | $862K0.0% | $862K0.0% | $862K |
| Total Liabilities | $867.3M-0.7% | $873.3M+1.5% | $860.4M+2.5% | $839.4M-0.1% | $840.5M+0.3% | $837.9M+2.2% | $820.0M+0.1% | $819.5M |
| Current Liabilities | $151.9M+3.4% | $146.9M+11.1% | $132.2M+18.7% | $111.3M+0.4% | $110.9M+10.8% | $100.1M+2.3% | $97.9M+1.1% | $96.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $152.7M+25.3% | $121.9M+17.6% | $103.7M+19.6% | $86.7M-4.7% | $90.9M+26.7% | $71.8M-27.6% | $99.2M+9.9% | $90.3M |
| Retained Earnings | -$803.4M+0.7% | -$809.0M-0.6% | -$803.8M-1.8% | -$789.6M-4.0% | -$758.9M-0.2% | -$757.6M-6.5% | -$711.4M-2.9% | -$691.3M |
IRTC Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $26.2M-24.9% | $34.9M+26.1% | $27.7M+450.5% | -$7.9M-141.0% | $19.2M-21.0% | $24.3M+105.6% | $11.8M+122.8% | -$52.0M |
| Capital Expenditures | $11.7M-21.0% | $14.8M+43.0% | $10.4M+10.1% | $9.4M+37.6% | $6.8M-22.5% | $8.8M+4.1% | $8.5M-13.2% | $9.8M |
| Free Cash Flow | $14.5M-27.7% | $20.1M+16.0% | $17.3M+199.9% | -$17.3M-239.7% | $12.4M-20.1% | $15.5M+362.8% | $3.4M+105.4% | -$61.8M |
| Investing Cash Flow | -$48.8M+45.3% | -$89.2M+11.6% | -$100.9M-164.6% | -$38.1M+68.8% | -$122.2M-120.8% | -$55.3M-481.3% | $14.5M-63.7% | $40.0M |
| Financing Cash Flow | $3.0M+258.7% | $825K-88.4% | $7.1M+310.3% | $1.7M-42.1% | $3.0M+8634.3% | -$35K-100.9% | $3.8M-99.2% | $504.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $25.0M |
IRTC Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.9%-0.2pp | 71.1%-0.1pp | 71.2%+2.3pp | 68.8%-1.2pp | 70.0%+1.2pp | 68.8%-1.1pp | 69.9%+3.5pp | 66.3% |
| Operating Margin | 1.1%+5.5pp | -4.4%+5.6pp | -10.0%+10.5pp | -20.5%-18.0pp | -2.5%+31.6pp | -34.1%-18.6pp | -15.5%+13.4pp | -28.9% |
| Net Margin | 2.7%+5.4pp | -2.7%+4.9pp | -7.6%+11.7pp | -19.4%-18.5pp | -0.8%+30.5pp | -31.3%-17.7pp | -13.6%+21.0pp | -34.6% |
| Return on Equity | 3.6%+7.9pp | -4.3%+9.4pp | -13.7%+21.7pp | -35.4%-34.0pp | -1.5%+62.9pp | -64.3%-44.1pp | -20.3%+30.3pp | -50.6% |
| Return on Assets | 0.5%+1.1pp | -0.5%+0.9pp | -1.5%+1.8pp | -3.3%-3.2pp | -0.1%+4.9pp | -5.1%-2.9pp | -2.2%+2.8pp | -5.0% |
| Current Ratio | 4.630.0 | 4.63-0.4 | 5.02-0.7 | 5.71-0.1 | 5.82-0.5 | 6.27-0.6 | 6.92-0.2 | 7.10 |
| Debt-to-Equity | 5.68-1.5 | 7.16-1.1 | 8.30-1.4 | 9.69+0.4 | 9.25-2.4 | 11.68+3.4 | 8.27-0.8 | 9.08 |
| FCF Margin | 6.9%-3.5pp | 10.4%+1.1pp | 9.3%+20.2pp | -10.9%-18.4pp | 7.5%-3.0pp | 10.5%+8.3pp | 2.3%+49.1pp | -46.9% |
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Frequently Asked Questions
What is iRhythm Holdings, Inc's annual revenue?
iRhythm Holdings, Inc (IRTC) reported $747.1M in total revenue for fiscal year 2025. This represents a 26.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is iRhythm Holdings, Inc's revenue growing?
iRhythm Holdings, Inc (IRTC) revenue grew by 26.2% year-over-year, from $591.8M to $747.1M in fiscal year 2025.
Is iRhythm Holdings, Inc profitable?
No, iRhythm Holdings, Inc (IRTC) reported a net income of -$44.6M in fiscal year 2025, with a net profit margin of -6.0%.
What is iRhythm Holdings, Inc's EBITDA?
iRhythm Holdings, Inc (IRTC) had EBITDA of -$36.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is iRhythm Holdings, Inc's gross margin?
iRhythm Holdings, Inc (IRTC) had a gross margin of 70.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is iRhythm Holdings, Inc's operating margin?
iRhythm Holdings, Inc (IRTC) had an operating margin of -7.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is iRhythm Holdings, Inc's net profit margin?
iRhythm Holdings, Inc (IRTC) had a net profit margin of -6.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is iRhythm Holdings, Inc's return on equity (ROE)?
iRhythm Holdings, Inc (IRTC) has a return on equity of -29.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is iRhythm Holdings, Inc's free cash flow?
iRhythm Holdings, Inc (IRTC) generated $34.5M in free cash flow during fiscal year 2025. This represents a 213.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is iRhythm Holdings, Inc's operating cash flow?
iRhythm Holdings, Inc (IRTC) generated $80.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are iRhythm Holdings, Inc's total assets?
iRhythm Holdings, Inc (IRTC) had $1.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are iRhythm Holdings, Inc's capital expenditures?
iRhythm Holdings, Inc (IRTC) invested $46.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does iRhythm Holdings, Inc spend on research and development?
iRhythm Holdings, Inc (IRTC) invested $84.6M in research and development during fiscal year 2025.
What is iRhythm Holdings, Inc's current ratio?
iRhythm Holdings, Inc (IRTC) had a current ratio of 4.63 as of fiscal year 2025, which is generally considered healthy.
What is iRhythm Holdings, Inc's debt-to-equity ratio?
iRhythm Holdings, Inc (IRTC) had a debt-to-equity ratio of 5.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is iRhythm Holdings, Inc's return on assets (ROA)?
iRhythm Holdings, Inc (IRTC) had a return on assets of -4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is iRhythm Holdings, Inc's Piotroski F-Score?
iRhythm Holdings, Inc (IRTC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are iRhythm Holdings, Inc's earnings high quality?
iRhythm Holdings, Inc (IRTC) has an earnings quality ratio of -1.82x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can iRhythm Holdings, Inc cover its interest payments?
iRhythm Holdings, Inc (IRTC) has an interest coverage ratio of -4.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is iRhythm Holdings, Inc?
iRhythm Holdings, Inc (IRTC) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.