iRhythm Q4 2021 Earnings Report
Key Takeaways
iRhythm Technologies reported a 3.8% increase in revenue for the fourth quarter of 2021, reaching $81.8 million. However, the company experienced a decline in gross margin to 62.7% and an adjusted EBITDA of negative $17.3 million. The company's cash and short-term investments amounted to $239.1 million at the end of the year.
Q4 2021 revenue increased by 3.8% to $81.8 million compared to Q4 2020.
Gross margin decreased to 62.7%, an 11.3% decline compared to Q4 2020.
Adjusted EBITDA was negative $17.3 million, a $23.8 million decline compared to Q4 2020.
Cash and Short-Term Investments were $239.1 million at December 31, 2021, a $17.7 million decline from September 30, 2021.
iRhythm
iRhythm
Forward Guidance
iRhythm projects revenue for the full year 2022 to range from $400 million to $410 million, which represents 24% to 27% growth over prior year results. Gross margins for the full year 2022 are expected to range from 67% to 68% and adjusted operating expenses are expected to range between $375 and $385 million. Adjusted EBITDA for the full year 2022 is expected to range from negative $30 million to negative $40 million.