Financial Data and Key Metrics Changes - The company reported over 30% growth in the most recent quarter, indicating strong performance and momentum in the business [66] - Preliminary revenue guidance for 2026 is projected in the high teens, reflecting a thoughtful approach to setting expectations [65][66] Business Line Data and Key Metrics Changes - The long-term continuous monitoring segment, which the company pioneered, is growing at high teens percent year-over-year, outpacing the overall market growth [9][10] - The company has gained one to two points of market share in the long-term continuous monitoring segment, now holding a low 70% share of that market [19][20] Market Data and Key Metrics Changes - The overall ambulatory cardiac monitoring market in the U.S. is estimated at 6.7 million tests, growing at mid-single digits, while the long-term continuous monitoring segment is experiencing faster growth [8][9] - The aging population is a significant tailwind for the market, increasing the risk of cardiac arrhythmias and the need for monitoring [10] Company Strategy and Development Direction - The company is focusing on expanding its presence in the primary care market, with a goal to increase the percentage of XT patches used by primary care physicians from 30% to potentially over 40% [12][14] - The company is investing in innovative channel partnerships that allow for proactive monitoring of patients, which is expected to enhance market penetration [22][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's positioning to capitalize on market opportunities, particularly with the increasing awareness of cardiac arrhythmias and advancements in therapies [10][11] - The company is committed to maintaining profitable growth while investing in innovation, aiming for a 400 basis points expansion in adjusted EBITDA year-over-year [64] Other Important Information - The company is actively working on international expansion, having launched into five new markets, including Japan, which presents a significant opportunity for growth [54][55] - The company is addressing FDA comments regarding cybersecurity as part of the review process for Zio MCT, with no expected contribution to 2026 revenue [41][42] Q&A Session Summary Question: What is driving the accelerated growth in the ambulatory cardiac monitoring market? - Management highlighted several factors, including the shift to primary care, increased consumer awareness, and the aging population as key drivers of growth [10][11] Question: How is the company leveraging its channel partners? - The company has seen success with 18 active channel partners, with all pilot programs transitioning to full commercial programs, indicating strong value propositions [34][35] Question: What is the status of the FDA submission for Zio MCT? - The company received comments from the FDA and is working through the review process, with no expected revenue contribution from Zio MCT in 2026 [41][42] Question: Can you provide an update on the international business? - The company is making progress in international markets, particularly in Japan, and expects to see meaningful contributions starting in 2027 [54][55] Question: What are the reimbursement updates for the monitoring services? - Medicare rates for long-term continuous monitoring are expected to increase by approximately 8% next year, while rates for MCT may see a slight decrease [76]

Financial Data and Key Metrics Changes - The company reported over 30% growth in the most recent quarter, indicating strong performance and momentum in the business [66][67] - Preliminary revenue guidance for 2026 is projected in the high teens percentage range, reflecting a thoughtful approach to setting expectations [65][66] Business Line Data and Key Metrics Changes - The long-term continuous monitoring segment, which the company pioneered, is growing at high teens percentage year over year, outpacing the overall market growth [8][19] - The company has gained one to two points of market share in the long-term continuous monitoring segment, now holding approximately 70% of that market [19][20] Market Data and Key Metrics Changes - The overall ambulatory cardiac monitoring market in the U.S. is estimated at 6.7 million tests annually, growing at mid-single digits, while the long-term continuous monitoring segment is experiencing faster growth [8][10] - The aging population is a significant tailwind for the market, with more individuals entering Medicare and increasing the risk of cardiac arrhythmias [10] Company Strategy and Development Direction - The company is focusing on expanding its presence in the primary care market, with a goal to increase the percentage of XT patches used by primary care physicians from 30% to potentially over 40% [12][14] - The company is investing in innovative channel partnerships that allow for proactive monitoring of patients, which is expected to enhance market penetration [22][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capitalize on market opportunities, particularly in the context of improving therapies and increasing consumer awareness [10][11] - The company is optimistic about its international expansion efforts, having launched into five new markets, including Japan, and expects meaningful contributions from these markets in the future [55][56] Other Important Information - The company is currently working through the FDA review process for Zio MCT, with no expected contributions to revenue in 2026 [40][41] - Recent updates indicate that Medicare reimbursement rates for long-term continuous monitoring will increase by approximately 8% next year, which is a positive outcome for the company [76] Q&A Session Summary Question: What is the current state of the ambulatory cardiac monitoring market? - The market is healthy, with the long-term continuous monitoring segment growing at high teens percentage year over year, driven by factors such as improved therapies and increased consumer awareness [8][10] Question: How is the company addressing the primary care market? - The company has seen an increase in the percentage of XT patches used by primary care physicians and believes this trend will continue to expand [12][14] Question: What is the status of the FDA submission for Zio MCT? - The company submitted Zio MCT to the FDA in September and is currently addressing comments received, with no expected revenue contribution in 2026 [40][41] Question: How is the international business progressing? - The company has launched into five new markets and is optimistic about future contributions, particularly from Japan, which is a significant market for ambulatory cardiac monitoring [55][56] Question: What is the company's approach to setting revenue guidance? - The company aims to provide thoughtful guidance based on high confidence in certain areas while leaving out less predictable factors [66][67]