iRhythm(IRTC)

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 iRhythm(IRTC) - 2022 Q3 - Earnings Call Transcript
 2022-11-02 03:07
 Financial Data and Key Metrics Changes - Revenue for Q3 2022 increased by 22% year-over-year, reaching $103.9 million, and was up 2% sequentially [11][31] - Adjusted EBITDA was negative $2.6 million, an improvement of $2.3 million compared to Q2 2022 and $6.1 million compared to Q3 2021 [36] - Net loss for the quarter was $21.5 million, or a loss of $0.71 per share, compared to a loss of $23.9 million or $0.80 per share in Q2 2022 [35]   Business Line Data and Key Metrics Changes - Registration volumes increased by 22% year-over-year, marking the strongest registration growth of the year [11] - Received device rate was 1 to 2 percentage points lower than historical averages, impacting revenue realization [12][23] - New store accounts opened accounted for approximately half of the year-over-year growth, with home enrollment making up about 20% of volume [32]   Market Data and Key Metrics Changes - The company anticipates a reduction in revenue guidance for the full year to a range of $407 million to $411 million, reflecting a growth of approximately 26% to 27% year-over-year, down from prior guidance of 29% to 30% [22] - The company is seeing strong demand for its Zio service, with healthy registration rates despite staffing challenges [13][28]   Company Strategy and Development Direction - The company is focused on enhancing its Zio AT product to grow market share in the MCT space and is committed to developing innovative solutions [42][28] - The company continues to invest in mid and long-term initiatives leveraging its technology platform and expanding into new geographies and markets [29]   Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth trajectory of the ACM market and the company's ability to capture market share [28] - Despite a reduction in revenue expectations, management remains encouraged by the underlying momentum in the business and the demand for the Zio service [41][27]   Other Important Information - The company issued a customer advisory notice related to the Zio AT product, which is expected to impact growth in the fourth quarter [25] - The gross margin for Q3 was 68.3%, a slight decrease from the previous quarter but an improvement from the same period last year [33]   Q&A Session Summary  Question: Guidance and impacts on revenue - Management attributed the revenue guidance reduction to staffing and capacity challenges, with a significant impact from the lower returned device rate [44][46]   Question: Changes since Analyst Day - Management noted that while they were optimistic at the time of the Analyst Day, the received device rate did not recover as expected, leading to the revised guidance [52][55]   Question: Device return rates and Home Enrollment - Management clarified that the received device rate for Home Enrollment is typically 2 to 3 times lower than in-clinic rates, and they plan to implement strategies to improve this [60][62]   Question: Commercial payer negotiations - Management indicated that there are no significant changes expected in commercial payer negotiations for 2023, maintaining a low single-digit pricing pressure outlook [72]   Question: New product launches - Management expects the Zio monitor to launch more fully in mid-2023, with enhancements to the Zio AT product anticipated for early 2024 [88][89]
 iRhythm Technologies (IRTC) Investor Presentation - Slideshow
 2022-08-17 17:24
iRHYTHM® Investor Presentation August 2022 Safe Harbor Certain data in this presentation was obtained from various external sources, and neither "iRhythm" or the "Company" nor its affiliates or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy of that data or undertakes to update such data after the date of this presentation. Such data involves risks and uncerta ...
 iRhythm(IRTC) - 2022 Q2 - Earnings Call Transcript
 2022-08-06 23:32
iRhythm Technologies, Inc. (NASDAQ:IRTC) Q2 2022 Results Conference Call August 4, 2022 4:30 PM ET Company Participants Stephanie Zhadkevich - Director of Investor Relations Quentin Blackford - President and Chief Executive Officer Doug Devine - Chief Operating Officer and Chief Financial Officer Dan Wilson - EVP of Corporate Strategy and Development Conference Call Participants Calvin Chu - Morgan Stanley Allen Gong - JPMorgan Joanne Wuensch - Citi Brandon Vazquez - William Blair David Rescott - Truist Sec ...
 iRhythm(IRTC) - 2022 Q2 - Quarterly Report
 2022-08-05 20:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ Form 10-Q _______________________________________________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37918 ____________ ...
 iRhythm(IRTC) - 2022 Q1 - Earnings Call Transcript
 2022-05-07 23:58
iRhythm Technologies, Inc. (NASDAQ:IRTC) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET Company Participants Quentin Blackford - President and Chief Executive Officer Douglas Devine - COO & CFO Dan Wilson - EVP of Corporate Strategy and Development Conference Call Participants Allen Gong - JP Morgan Maggie Boeye - William Blair  David Rescott - Truist Securities William Plovanic - Canaccord Genuity  Marie Thibault - BTIG Suraj Kalia - Oppenheimer Operator Thank you all for participating in today's  ...
 iRhythm(IRTC) - 2022 Q1 - Quarterly Report
 2022-05-06 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ Form 10-Q _______________________________________________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37918 ___________ ...
 iRhythm(IRTC) - 2021 Q4 - Annual Report
 2022-02-28 13:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________________________ FORM 10-K ________________________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...
 iRhythm(IRTC) - 2021 Q4 - Earnings Call Transcript
 2022-02-24 00:55
iRhythm Technologies, Inc. (NASDAQ:IRTC) Q4 2021 Earnings Conference Call February 23, 2022 4:30 PM ET Company Participants Leigh Salvo - Head, Investor Relations Quentin Blackford - President and Chief Executive Officer Doug Devine - COO & CFO Dan Wilson - EVP of Corporate Strategy and Investor Relations Conference Call Participants Allen Gong - JP Morgan Calvin Chu - Morgan Stanley Maggie Boeye - William Blair David Rescott - Truist Securities David Saxon - Needham Suraj Kalia - Oppenheimer & Company Bill ...
 iRhythm Technologies (IRTC) Investor Presentation - Slideshow
 2022-01-11 19:53
iRHYTHM® Investor Presentation January 2022 Safe Harbor Certain data in this presentation was obtained from various external sources, and neither "iRhythm" or the "Company" nor its affiliates or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy of that data or undertakes to update such data after the date of this presentation. Such data involves risks and uncert ...
 iRhythm(IRTC) - 2021 Q3 - Earnings Call Transcript
 2021-11-06 19:04
iRhythm Technologies, Inc. (NASDAQ:IRTC) Q3 2021 Earnings Conference Call November 4, 2021 4:30 PM ET Company Participants Leigh Salvo – Head, Investor Relations Quentin Blackford – President and Chief Executive Officer Doug Devine – Chief Financial Officer Conference Call Participants Brandon Vazquez – William Blair Calvin Chu – Morgan Stanley David Rescott – Truist Securities Joanne Wuensch – Citibank Allen Gong – JP Morgan Marie Thibault – BTIG William Plovanic – Canaccord Operator Good day and thank you ...
