iRhythm(US:IRTC) Globenewswireยท2025-05-01 20:05Core Viewpoint - iRhythm Technologies, Inc. reported strong financial results for Q1 2025, with revenue growth exceeding 20% year-over-year, driven by increased demand for its Zio services and expansion into new markets, including Japan [3][4]. Financial Highlights - Revenue for Q1 2025 was $158.7 million, a 20.3% increase from $131.9 million in Q1 2024 [4][8]. - Gross profit for Q1 2025 was $109.2 million, up 24.8% from $87.5 million in Q1 2024, with a gross margin of 68.8%, an increase from 66.3% in the same period last year [5][8]. - Operating expenses for Q1 2025 were $141.8 million, compared to $125.7 million in Q1 2024, primarily due to funding innovation and serving a growing patient volume [6][8]. - The net loss for Q1 2025 was $30.7 million, or a diluted loss of $0.97 per share, an improvement from a net loss of $45.7 million, or a diluted loss of $1.47 per share, in Q1 2024 [7][8]. Operational Highlights - The company achieved a milestone of 10 million patient reports since its inception, indicating strong market penetration and demand for its services [3]. - iRhythm's recent commercial launch in Japan is part of its strategy to expand its global reach, now operating in six markets outside the U.S. [3][8]. - The company presented findings at ACC.25 showing that traditional Holter monitoring often misses actionable arrhythmias, highlighting the effectiveness of its Zio long-term continuous monitor [8]. Guidance and Future Outlook - iRhythm projects full-year 2025 revenue between $690 million to $700 million, with an adjusted EBITDA margin expected to range from approximately 7.5% to 8.5% [10][8]. - The company is optimistic about future growth driven by innovative value-based care accounts and increasing demand for Zio AT services in the U.S. and the U.K. [3][8].