iRhythm(US:IRTC)2024-08-02 04:57Financial Performance & Guidance - Second quarter revenue reached $148 million[7] - The company anticipates 2024 annual revenue between approximately $578 million and $588 million[19] - Gross margin is projected to be around 68% to 69% of revenues[20] - Adjusted EBITDA margin is expected to be approximately 3% to 4% of revenues[20] Market Opportunity & Growth - The core U S market consists of 64 million ambulatory cardiac monitoring tests annually[9] - There's an expansion opportunity in the symptomatic market with over 15 million primary care patients suspected of cardiac disease[9] - An additional expansion opportunity exists in the at-risk population, encompassing over 12 million individuals in the U S with a high risk of undiagnosed arrhythmias[9] - The international market represents a total addressable market (TAM) of over $1 billion with over 5 million tests in prioritized countries across EMEA and Asia Pacific[8, 13] Strategic Initiatives - Approximately 21% of 2023 US Zio XT and Zio monitor registrations were written by PCPs[9] - The company is pursuing regulatory approval in Japan via a high medical needs pathway, targeting PMDA approval in 2024[13]