Core Viewpoint - iRhythm Technologies (IRTC) has signed an exclusive license agreement with BioIntelliSense to develop and commercialize patented technology in ambulatory cardiac monitoring (ACM) [1][2]. Company Summary - The agreement allows iRhythm to utilize BioIntelliSense's multiparameter sensing technologies, enhancing its platform capabilities and potentially enabling entry into adjacent indications like obstructive sleep apnea [2]. - The licensing agreement is expected to boost iRhythm's business and revenue growth in the ACM segment, attracting investor interest and potentially increasing share price [3]. - iRhythm will pay an upfront fee and additional payments based on regulatory milestones and technology validation, with royalties from net sales related to home sleep testing [7]. Financial Outlook - iRhythm reaffirmed its 2024 financial guidance, projecting revenue growth of approximately 18% to 20%, amounting to $580 million to $590 million [9]. - The gross margin for 2024 is expected to be between 68.5% and 69%, with an adjusted EBITDA margin of approximately 3.5% to 4% of revenues [9][10]. - The company anticipates no significant incremental development expenses in 2024, aside from the acquired in-process research and development (IPR&D) expense related to the agreement [10]. Industry Insights - The ambulatory cardiac monitoring market was valued at $5.8 billion in 2022 and is projected to grow at a CAGR of 10.4% from 2023 to 2030, indicating strong market potential for iRhythm's new agreement [11]. - iRhythm's stock has performed well, gaining 29.8% over the past six months, outperforming the industry growth of 8.9% and the S&P 500's gain of 17.3% during the same period [12].

iRhythm's next-generation Zio® monitor demonstrated longer wear duration and analyzable time compared to the prior generation Zio® XT device. Longer wear duration and analyzable time may further improve diagnostic yield, building upon Zio XT service's superior yield among ambulatory cardiac monitoring services as demonstrated by the prior CAMELOT study findings.1 The Zio monitor ECG device has been worn by over 1 million patients since launching in late 2023.2 SAN FRANCISCO, Sept. 09, 2024 (GLOBE NEWSWIRE) ...

GUARD-AF trial results presented at European Society of Cardiology (ESC) Congress 2024 Leveraging iRhythm's Zio® patch-based long-term continuous monitoring (LTCM), GUARD-AF is the largest randomized trial in a primary care setting to evaluate the impact of screening for undiagnosed atrial fibrillation (AF) Screening with iRhythm's Zio® XT1 LTCM led to increase in new diagnosis of AF (5.0% vs 3.3%) over an average follow-up of 15 months. No difference in stroke hospitalization vs usual care in the context o ...

Core Insights - iRhythm Technologies, Inc. (IRTC) has launched its Zio monitor and long-term continuous ECG monitoring service in Austria, the Netherlands, Spain, and Switzerland, emphasizing its commitment to global patient-centered digital healthcare solutions [1][6] - The Zio monitor offers up to 14 days of uninterrupted ECG monitoring, significantly improving the detection and management of cardiac arrhythmias, particularly atrial fibrillation, which is on the rise in Europe [3][5] Product Significance - Cardiac arrhythmias can lead to severe health risks, including stroke and death, making early detection and treatment essential for improving patient outcomes [2] - The Zio system provides extended monitoring capabilities that surpass traditional methods, enhancing diagnostic accuracy and streamlining clinical workflows [3][4] Market Expansion - iRhythm Technologies plans to begin shipping the Zio monitor in the mentioned European countries starting in September, with widespread availability expected by 2025 [6] - The Zio monitor, along with its mobile cardiac telemetry services, is already available in the United States and the UK, marking a significant step in expanding access to advanced cardiac monitoring solutions [6] Market Prospects - The ECG devices market is projected to grow from $6.03 billion in 2024 to $14.5 billion by 2036, with a CAGR of 7%, driven by an aging population and increasing heart disease rates [7][8] - The demand for accurate cardiac diagnosis is reflected in the rising exports of ECG devices, indicating a robust growth trajectory for the industry [8] Recent Developments - The Zio monitor received CE mark certification under the EU's Medical Device Regulation, confirming its compliance with EU standards for performance, quality, safety, and efficacy [9] - The new Zio monitor features a thinner, lighter, and smaller design, improving patient wearability and compliance, and integrates with iRhythm's ZEUS AI algorithm for enhanced ECG data capture [10] Stock Performance - iRhythm Technologies' stock has declined by 32.3% this year, contrasting with the industry's 11.9% decline and the S&P 500's 17.2% increase [11]

SAN FRANCISCO, Aug. 21, 2024 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, announced today that the company will present at the following investor conferences in September: Morgan Stanley 22nd Annual Global Healthcare Conference on Wednesday, September 4, at 3:20 pm Eastern Time Wells Fargo 2024 Healthcare Conference on Thursday, September 5, at 8:45 am Eastern Time Baird 20 ...

Core Viewpoint - iRhythm Technologies (IRTC) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system highlights the strong correlation between changes in earnings estimates and near-term stock price movements, making it a valuable tool for investors [2][4]. - The recent upgrade reflects optimism about iRhythm Technologies' earnings outlook, potentially leading to increased buying pressure and a rise in stock price [3][5]. Earnings Estimate Revisions - For the fiscal year ending December 2024, iRhythm Technologies is projected to earn -$2.97 per share, representing a 26.5% change from the previous year's reported figure [8]. - Over the past three months, the Zacks Consensus Estimate for iRhythm Technologies has increased by 7.9%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks based on earnings estimates into five groups, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade to Zacks Rank 2 places iRhythm Technologies in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10].

iRhythm Technologies, Inc. (NASDAQ:IRTC) Q1 2024 Earnings Conference Call August 1, 2024 4:30 PM ET Company Participants Stephanie Zhadkevich - Director, Investor Relations Quentin Blackford - President and CEO Brice Bobzien - Chief Financial Officer Daniel Wilson - EVP of Corporate Development and Investor Relations Conference Call Participants Margaret Andrew - William Blair Allen Gong - JPMorgan Marie Thibault - BTIG LLC David Rescott - Baird Nathan Treybeck - Wells Fargo Joanne Wuensch - Citigroup Mike ...

iRHYTHM® iRhythm Technologies Second Quarter 2024 Results August 1, 2024 Safe harbor statement 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 presentati ...

IRhythm Technologies (IRTC) came out with a quarterly loss of $0.61 per share versus the Zacks Consensus Estimate of a loss of $0.92. This compares to loss of $0.61 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 33.70%. A quarter ago, it was expected that this company would post a loss of $0.99 per share when it actually produced a loss of $1.47, delivering a surprise of -48.48%. Over the last four quarters, the company has ...

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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37918 ____________ ...