Loading...
•
Jun 30, 2022
iRhythm Q2 2022 Earnings Report
Reported financial results with revenue exceeding expectations and record registrations in the U.S. business.
Key Takeaways
iRhythm Technologies reported a 25.6% increase in revenue to $102.1 million for the second quarter of 2022, driven by Zio XT and AT volume growth and increases in Medicare pricing. The company's gross margin improved to 68.8%.
Revenue increased by 25.6% to $102.1 million compared to Q2 2021.
Gross margin improved by 0.8 percentage points to 68.8% compared to Q2 2021.
Cash and short-term investments totaled $204.5 million as of June 30, 2022.
Full year 2022 revenue guidance raised to a range of $415 million to $420 million.
Forward Guidance
iRhythm projects revenue for the full year 2022 to range from $415 million to $420 million, which represents 29% to 30% growth over prior year results. Gross margin for the full year 2022 is expected to range from 68% to 69% and adjusted operating expenses are expected to range between $375 million and $385 million. Adjusted EBITDA for the full year 2022 is expected to range from negative $12.5 million to negative $17.5 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...