iRhythm Technologies, Inc. (IRTC) Earnings
iRhythm Technologies, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $-0.01. IRTC has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +377.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.56 | $-0.35 | +37.5% | $199M | +2.7% |
| Feb 19, 2026 | $0.02 | $0.29 | +1350.0% | $209M | +8.6% |
| Oct 30, 2025 | $-0.36 | $-0.06 | +83.3% | $193M | -4.4% |
| Jul 31, 2025 | $-0.53 | $-0.32 | +39.6% | $187M | +6.4% |
| May 1, 2025 | $-0.89 | $-0.95 | -6.7% | $159M | +3.4% |
| Feb 20, 2025 | $-0.29 | $0.01 | +103.4% | $164M | +3.8% |
| Aug 1, 2024 | $-0.92 | $-0.61 | +33.7% | $148M | +1.3% |
| May 2, 2024 | $-0.99 | $-1.47 | -48.5% | $132M | +2.7% |
| Feb 22, 2024 | $-0.60 | $-1.26 | -110.0% | $133M | +1.8% |
| Nov 2, 2023 | $-0.65 | $-0.89 | -36.9% | $125M | +1.7% |
| Aug 3, 2023 | $-0.75 | $-0.61 | +18.7% | $124M | +3.1% |
| May 4, 2023 | $-0.80 | $-1.29 | -61.2% | $111M | +4.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Strong first quarter performance with revenue growth driven by volume and margin expansion. • Strategic focus on expanding the long-term continuous monitoring market by redefining arrhythmia diagnosis, with XeoMonitor as the foundation and XeoAT advancing. • Progress in moving upstream in the patient pathway, with primary care becoming an important entry point, and ~53% of volume flowing through EHR-integrated accounts. • Traction in innovative care channels and international markets, with best quarter in the UK and progress in Japan's reimbursement framework. • Clinical evidence supporting Xeo's benefits, launch of iRhythm Academy, and progress in adjacent markets like sleep. • Integrated, AI-enabled platform with over 3 billion hours of ECG data, and first health system deployment of predictive identification workflows. • Regulatory progress with completion of quality management system review and reaffirmation of Next Generation MCT 2027 release timeline.
Guidance
• Raised full-year 2026 revenue guidance to $875 million to $885 million, 17%-18% year-over-year growth. • Anticipates Q2 2026 revenue in range of $218 million to $220 million. • Expects gross margin to incrementally improve for full-year 2026 due to clinical operations and manufacturing efficiencies. • Raised full-year 2026 adjusted EBITDA margin guidance to 12% to 13%. • Anticipates Q2 2026 adjusted EBITDA margin between 11.5% and 12.5%. • Full-year 2026 free cash flow expected to grow versus 2025, more weighted in second half due to operating seasonality.
Segment performance
Revenue was $199.4 million, up 25.7% year-over-year. Gross margin in Q1 was 70.9%, an increase of 210 basis points year-over-year. Adjusted EBITDA for Q1 was $14.1 million, or 7.1% of revenue, representing an 880 basis point improvement year-over-year. Volume was the primary driver of revenue growth, with new store growth accounting for ~64% of year-over-year volume growth. Home enrollment for ZO services in the U.S. was ~23% of volume in Q1.
Risks & headwinds
• Subject to FDA warning letter, though remediation efforts completed and independent third party review found no material observations. • Geopolitical situation may impact cost containment, but no material impact expected on gross margin. • DOJ CID and local coverage determination timing uncertain. • Potential competition from outside the traditional medtech sphere, but iRhythm's end-to-end platform and moat are seen as defensible.
Analyst Q&A
Q: Alan Gone with GP Morgan asked about guide raise, deceleration, and AI competition.
A: Quinton and Dan responded on guide being raised due to strong start, momentum in business, and iRhythm's defensibility with end-to-end platform.
Q: Stephanie Elgazy with B of A asked about EBITDA margin outperformance and NextGen algorithm.
A: Justin Fields and Quinton discussed EBITDA margin outperformance due to execution and efficiencies, and NextGen algorithm's benefits and approval timeline.
Q: Brandon Vasquez with William Blair asked about innovative channel partners.
A: Quinton talked about consistency in innovative channel partners and trends in their usage.
Q: Vijay Kumar with Evercore ISI asked about MCT market share ramp and NextGen algorithm.
A: Quinton discussed MCT as continuation of trend and NextGen algorithm's gross margin benefit.
Q: Nathan Trebek with Wells Fargo asked about reconfirmations for chart-derived diagnoses.
A: Quinton said no contemplated benefit in guidance yet.
Q: David Rescott with RW Baird asked about sleep market and iRhythm's value.
A: Quinton talked about sleep as strategic opportunity and iRhythm's ability to disrupt with end-to-end solution.
Q: Marie Thibault with BTIG asked about international reimbursement.
A: Quinton provided detail on Japan's reimbursement update and ongoing work for better reimbursement.
Q: Richard Newitter with Trust Securities asked about LCD and electrophysiology.
A: Quinton discussed LCD's potential impact and no indication of EP slowdown in data.
Q: Suraj Kalia with Oppenheimer asked about monitoring market and EP slowdown.
A: Quinton quantified monitoring market and no indication of EP slowdown.
Q: Gene Mannheimer with Freedom Capital Markets asked about long-term targets and primary care registrations.
A: Quinton said no update to long-term guidance and primary care volume increasing.
Q: Bill Plavanik with Canaccord Genuity asked about arrhythmia study and society interaction.
A: Quinton talked about generating data and interest in changing guidelines.
Q: David Roman with Goldman Sachs asked about profitability factors and investment opportunities.
A: Quinton discussed factors contributing to improved P&L and investment opportunities in various areas