iRhythm Q3 2022 Earnings Report
Key Takeaways
iRhythm Technologies, Inc. reported a 21.6% increase in revenue to $103.9 million for the third quarter of 2022, compared to the same period in 2021. The company's gross margin improved to 68.3%, and cash, cash equivalents and short-term investments totaled $203.5 million as of September 30, 2022. However, the company is updating its fiscal year 2022 revenue guidance to a range of approximately $407 million to $411 million.
Revenue of $103.9 million, a 21.6% increase compared to third quarter 2021
Gross margin of 68.3%, a 2.6 percentage point improvement compared to third quarter 2021
Cash, cash equivalents and short-term investments of $203.5 million as of September 30, 2022
Updating fiscal year 2022 revenue guidance to a range of approximately $407 million to $411 million
iRhythm
iRhythm
Forward Guidance
iRhythm is updating its fiscal year 2022 revenue guidance to range from approximately $407 to $411 million. Gross margin for the fiscal year 2022 is expected to range from approximately 68% to 69% and adjusted operating expenses are expected to range between approximately $360 and $365 million. Adjusted EBITDA for the full year 2022 is expected to range from negative $10 to negative $12 million.