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Dec 31, 2024
iRhythm Q4 2024 Earnings Report
iRhythm Technologies reported a 24% increase in Q4 2024 revenue with significant improvements in profitability metrics.
Key Takeaways
iRhythm Technologies reported Q4 2024 revenue of $164.3 million, a 24% increase year-over-year. The company improved its gross margin to 70.0%, and net loss narrowed significantly to $1.3 million from $38.7 million in Q4 2023. Adjusted EBITDA rose to $19.3 million, reflecting strong demand for Zio services. Cash and cash equivalents increased to $535.6 million, supporting continued investments in growth and technology.
Q4 2024 revenue increased 24% YoY to $164.3 million.
Gross margin improved to 70.0%, up from 66.0% in Q4 2023.
Net loss narrowed to $1.3 million, a $37.4 million improvement YoY.
Adjusted EBITDA reached $19.3 million, reflecting improved efficiency and demand.
iRhythm
iRhythm
iRhythm Revenue by Segment
Revenue by Segment
Zio Services Revenue
CapyFin.com Forward Guidance
iRhythm projects full-year 2025 revenue between $675 million and $685 million, with an adjusted EBITDA margin of 7% to 8%. The company aims to expand market presence and improve operational efficiencies.
Positive Outlook
- Strong revenue growth expected to continue in 2025.
- Expansion into new international markets planned.
- Operational efficiencies expected to improve gross margins further.
- New product innovations and strategic licensing agreements support long-term growth.
- Increased demand for Zio Services across multiple customer segments.
Challenges Ahead
- Potential pricing pressures in the competitive healthcare technology market.
- Higher research and development expenses may impact near-term profitability.
- Macroeconomic uncertainty could affect customer spending in healthcare.
- Operational challenges in scaling global expansion.
- Continued regulatory risks associated with medical device approvals and compliance.