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Jun 30, 2020
iRhythm Q2 2020 Earnings Report
iRhythm's financial performance decreased slightly due to lower volumes, but was offset by increased ASP.
Key Takeaways
iRhythm Technologies reported a slight decrease in revenue for the second quarter of 2020, with a 3% decrease compared to the same period in 2019. The decrease was primarily due to lower volumes but was slightly offset by increased ASP. The company experienced a net loss of $20.4 million, or $0.75 per share.
Revenue decreased 3% compared to the second quarter of 2019.
Gross margin was 69.6%, a 560 basis point year-over-year contraction.
Net loss was $20.4 million, or a loss of $0.75 per share.
Total Cash and Short Term Investment balance at June 30, 2020 was $114.9M.
iRhythm
iRhythm
Forward Guidance
iRhythm is not providing 2020 financial guidance due to the continued uncertainties from the impact of COVID-19.