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Mar 31, 2020
iRhythm Q1 2020 Earnings Report
Reported financial results with revenue increasing due to increased salesforce productivity, expansion into new accounts, improved penetration of existing accounts, and the successful launch of Zio AT.
Key Takeaways
iRhythm Technologies reported a 31% increase in revenue to $63.5 million for the three months ended March 31, 2020, compared to $48.3 million in the same period in 2019. The gross margin was 74.7%, and the net loss was $9.1 million, or $0.34 per share.
Revenue of $63.5 million, a 31% increase compared to the first quarter of 2019.
8% sequential growth versus the fourth quarter of 2019.
Gross margin was 74.7%, a 90 basis point year-over-year contraction.
Implemented measures to protect employees, ensure business continuity, reduce operating expenses, and preserve cash due to COVID-19.
Forward Guidance
iRhythm withdrew its previously announced annual guidance for 2020 on April 9, 2020 and remains unable to accurately estimate the impact of the pandemic on its future operations and financial results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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