iRhythm (IRTC) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Stephanie Zhadkevich - Director of Investor RelationsQuentin Blackford - President, CEO & DirectorDaniel Wilson - CFOAllen Gong - Vice PresidentMacauley Kilbane - Equity Research AssociateSuraj Kalia - Managing DirectorJon Young - DirectorRichard Newitter - Managing Director Conference Call Participants Kallum Titchmarsh - AnalystNone - AnalystNathan Treybeck - AnalystDavid Rescott - Senior Research AnalystDavid Saxon - Senio ...

Core Viewpoint - iRhythm Technologies has launched its Zio long-term continuous ECG monitoring system in Japan, offering up to 14 days of uninterrupted ECG monitoring, which is a significant improvement over existing options in the market [1][4]. Company Overview - iRhythm Technologies, Inc. is a leading digital health care company focused on creating solutions that detect, predict, and prevent disease through wearable biosensors and cloud-based data analytics [14]. - The company has a strong commitment to improving patient outcomes, supported by over 125 original research manuscripts and insights from more than 2 billion hours of curated heartbeat data [7]. Product Details - The Zio ECG Recording and Analysis System includes a patch-based ECG monitoring device that can be worn for up to 14 days and utilizes a deep-learned AI algorithm approved by Japan's Pharmaceuticals and Medical Devices Agency (PMDA) [3][5]. - The system demonstrates 99% patient compliance with prescribed wear time and 99% analyzable data, providing high-quality, actionable insights [5]. - The Zio service is associated with the highest diagnostic yield and lowest likelihood of retesting compared to other monitoring services, including Holter monitoring [5]. Market Opportunity - Japan is the second largest ambulatory cardiac monitoring market globally, with an estimated 1.6 million tests prescribed annually, a number expected to rise due to the aging population and increasing prevalence of cardiac arrhythmias [10][11]. - The launch of the Zio system is timely, addressing the growing demand for early and accurate detection of arrhythmias in Japan [4]. Clinical Validation - The clinical value of the Zio LTCM service has been validated through studies, including the CAMELOT study, which found it to be associated with the highest yield of specified arrhythmia diagnosis and the lowest likelihood of repeat testing [6][8]. - The Zio service combines advanced AI with expert clinical review to support accurate and timely diagnoses, enhancing patient care [8]. Distribution and Availability - The Zio ECG Recording and Analysis System will be available to healthcare customers in Japan starting May 2025, with nationwide availability expected by July 2025, through Senko Medical Instrument, the exclusive distribution partner [12].

SAN FRANCISCO, May 01, 2025 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today reported financial results for the three months ended March 31, 2025. First Quarter 2025 Financial Highlights Revenue of $158.7 million, a 20.3% increase compared to first quarter 2024Gross margin of 68.8%, a 250-basis point increase compared to first quarter 2024Unrestricted cash, cash equivale ...

Core Viewpoint - iRhythm Technologies, Inc. is actively participating in the Bank of America Securities 2025 Health Care Conference, showcasing its commitment to advancing digital health solutions [1][2]. Company Overview - iRhythm Technologies, Inc. is a leading digital health care company focused on creating solutions that detect, predict, and prevent disease through the use of wearable biosensors and cloud-based data analytics [3]. - The company utilizes proprietary algorithms to transform data from millions of heartbeats into clinically actionable information, aiming to enhance patient care and health outcomes [3]. Event Participation - iRhythm's management is scheduled to present at the conference on May 13, 2025, at 3:40 p.m. Pacific Time, with a live and archived webcast available for interested parties [2].

Core Insights - iRhythm Technologies, Inc. announced the results of the AVALON study, which is the largest real-world comparative evaluation of ambulatory cardiac monitoring (ACM) among commercially insured patients, demonstrating the clinical superiority of the Zio long-term continuous monitoring (LTCM) service [1][3][19] Study Findings - The AVALON study involved a cohort of 428,707 commercially insured patients, focusing on diagnostic yield, likelihood of repeat testing, and cardiovascular (CV) events [1][6][18] - Zio LTCM service showed the highest diagnostic yield at 26.5%, significantly outperforming other modalities such as non-iRhythm LTCM (18.4%), ambulatory event monitors (AEM) (17.0%), and Holter monitoring (14.7%) [10][19] - Zio LTCM service was 2.04 times more likely to result in a new arrhythmia diagnosis compared to Holter monitors and 1.69 times more likely compared to AEM [11][19] - The likelihood of retesting within 180 days was lowest for Zio LTCM, with all non-iRhythm LTCMs being 1.95 times more likely to require a retest [12][19] - Zio LTCM service was associated with the lowest adjusted odds of cardiovascular events within one year compared to other ACM modalities [13][19] Digital Engagement - The MyZio App, designed to enhance patient engagement and symptom logging, was associated with increased symptom reporting and improved symptom-rhythm correlation [4][21] - Among 164,563 patients, 18.4% used the MyZio App, which led to a 1.85-fold increase in rhythm-correlated diary entries compared to non-users [23][24] - The app users demonstrated greater engagement, with higher rates of episodes identified through both button presses and diary entries [23][24] Clinical Evidence Base - iRhythm has a comprehensive clinical evidence program with over 125 original research manuscripts and insights derived from more than 2 billion hours of curated heartbeat data [15][19] - The AVALON study builds on previous findings from the CAMELOT study, expanding the understanding of Zio LTCM's clinical impact across different patient demographics [3][8][19]

Core Viewpoint - iRhythm Technologies, Inc. will release its financial results for Q1 2025 on May 1, 2025, followed by a conference call to discuss the results [1]. Company Overview - iRhythm Technologies is a leading digital health care company focused on creating solutions that detect, predict, and prevent disease [3]. - The company utilizes wearable biosensors and cloud-based data analytics combined with proprietary algorithms to transform data from millions of heartbeats into clinically actionable information [3]. - iRhythm's vision emphasizes improving patient care through better data, insights, and health outcomes [3]. Conference Call Details - The conference call will begin at 1:30 p.m. PT / 4:30 p.m. ET on the same day as the financial results release [1]. - Interested parties can access a live and archived webcast of the conference call on the company's investor website [2].

Core Insights - iRhythm Technologies, Inc. has published its 2024 Corporate Sustainability Report, showcasing its commitment to sustainability and inclusivity in healthcare [1][2] Quality and Sustainable Technology Innovation - The company has enhanced its quality systems and improved customer experience through Electronic Health Record (EHR) integration and innovative product launches [5] - A strategic licensing agreement has been secured to advance connected patient care [5] - An Artificial Intelligence (AI) Governance Steering Committee has been formed to address AI risks and opportunities [5] Access and Health Equity - iRhythm has expanded globally by launching commercially in four European countries: Austria, the Netherlands, Spain, and Switzerland [5] - The company received regulatory approval from the Japanese Pharmaceutical and Medical Device Agency for the Zio 14-day, long-term continuous ECG monitoring system [5] Workforce and Inclusion - The company has refreshed its core values to shape its desired workplace culture [5] - The code of conduct has been revised to provide employees with resources and guidance for operating with integrity [5] - New recognition opportunities have been introduced to celebrate employees who embody the company's values [5] Environmental Impact - iRhythm completed an inventory of Scope 3 greenhouse gas emissions [5] - The company achieved 89.5% landfill waste diversion across its operations [5] - iRhythm obtained ISO 14001:2015 Environmental Management Systems Certification [5] - A life cycle analysis (LCA) of its products has been completed [5] - The company was named to Newsweek's list of America's Greenest Companies for 2025 [5]

Core Insights - Two large studies involving over 1.1 million patients indicate that short-term Holter monitoring often fails to detect actionable arrhythmias, even in patients with reported daily symptoms, highlighting the limitations of current monitoring practices [1][4][7] Group 1: Study Findings - 64% of patients with daily symptoms and actionable arrhythmias were undetected within the first 48 hours of monitoring, suggesting that short-term Holter monitoring is inadequate [6][9] - Non-daily symptom patients had a higher arrhythmia yield of 80.9% compared to 69.1% for daily-symptom patients, indicating that symptom frequency does not correlate with arrhythmia burden [6] - The mean time to the first detected arrhythmia episode exceeded 48 hours across all types, reinforcing the inadequacy of short-term monitoring [6][9] Group 2: Clinical Implications - The findings challenge the assumption that frequent symptoms justify short-duration monitoring and emphasize the need for long-term continuous monitoring (LTCM) for better detection of arrhythmias [4][7] - Zio LTCM provides uninterrupted monitoring for up to 14 days, which can lead to more accurate and timely detection of actionable arrhythmias compared to Holter monitoring [7][8] - The CAMELOT study supports that Zio LTCM has the highest yield for arrhythmia diagnosis and the lowest likelihood of repeat testing among monitoring services [7] Group 3: Economic Impact - Approximately 16 million Americans experience arrhythmias, with undiagnosed atrial fibrillation alone costing the U.S. $3 billion annually, highlighting the financial burden of undetected arrhythmias [5] - The economic rationale for long-term continuous monitoring is underscored by the projected costs of heart failure reaching $70 billion by 2030 [5] Group 4: Company Background - iRhythm Technologies is a leading digital health care company focused on creating solutions for disease detection and prevention, utilizing wearable biosensors and cloud-based analytics [11]

Core Viewpoint - iRhythm Technologies (IRTC) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [1][2]. - Changes in future earnings potential, reflected in earnings estimate revisions, are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for iRhythm Technologies indicate an improvement in the company's underlying business, suggesting that investors may push the stock higher [5][8]. Zacks Rank System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7][9]. - The upgrade of iRhythm Technologies to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for near-term price movement [10]. Earnings Estimate Revisions for iRhythm Technologies - iRhythm Technologies is expected to earn -$1.75 per share for the fiscal year ending December 2025, reflecting a year-over-year change of 43.2% [8]. - Over the past three months, the Zacks Consensus Estimate for iRhythm Technologies has increased by 16% [8].

iRhythm Technologies Fourth Quarter 2024 Results February 20, 2025 Cautionary statement re forward-looking statements, non-GAAP measures and other matters Certain data in this presentation was obtained from various external sources, and neither "iRhythm Technologies, Inc. ("iRhythm" or the "Company") nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations ...