Irhythm Technologies Inc Stock Research

Market Summary

USD121.21+1.98

Market Closed

1.66%

IRTC Alerts

3 major insider sales recently.
Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)
Losses in recent quarter

IRTC Stock Price

IRTC RSI Chart

IRTC Valuation

Market Cap

3.7B

Price/Earnings (Trailing)

-31.51

Price/Sales (Trailing)

8.91

EV/EBITDA

-36.41

Price/Free Cashflow

-69.26

IRTC Price/Sales (Trailing)

IRTC Profitability

Operating Margin

68.54%

EBT Margin

-28.20%

Return on Equity

-48.44%

Return on Assets

-25.91%

Free Cashflow Yield

-1.44%

IRTC Fundamentals

IRTC Revenue

Revenue (TTM)

410.9M

Revenue Y/Y

37.67%

Revenue Q/Q

8.42%

IRTC Earnings

Earnings (TTM)

-116.2M

Earnings Y/Y

37.84%

Earnings Q/Q

5.84%

Price Action

52 Week Range

85.74169.54

(Low)(High)

Last 7 days

5.7%

Last 30 days

12.5%

Last 90 days

27.3%

Trailing 12 Months

-16.5%

IRTC Financial Health

Current Ratio

3.24

Debt/Equity

0.04

Debt/Cashflow

-3.57

IRTC Investor Care

Shares Dilution (1Y)

2.37%

Diluted EPS (TTM)

-3.88

Peers (Alternatives to Irhythm Tech)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	104.7B	18.4B	5.75%	5.84%	44.4	5.68	7.84%	18.25%
ISRG	89.7B	6.2B	9.79%	-8.77%	67.87	14.42	8.97%	-22.43%
BSX	69.0B	12.7B	3.45%	12.48%	98.9	5.44	6.68%	-32.95%
BDX	68.2B	19.0B	0.04%	-5.99%	42.3	3.59	-0.43%	-8.78%
EW	49.1B	5.4B	7.07%	-26.22%	32.28	9.13	2.86%	1.25%
MID-CAP
SWAV	7.2T	489.7M	11.64%	12.09%	82.2K	16.8K	106.51%	2464.23%
PEN	10.5B	847.1M	5.10%	33.54%	-5.2K	12.36	13.32%	-137.89%
GMED	5.3B	1.0B	-10.58%	-23.27%	30.73	5.18	6.76%	24.45%
IRTC	3.7B	410.9M	12.45%	-16.48%	-31.51	8.91	27.29%	-14.60%
TNDM	2.7B	801.2M	5.14%	-62.54%	-28.72	3.39	14.00%	-707.69%
SMALL-CAP
ATEC	1.7B	350.9M	10.32%	47.03%	-11.09	4.81	44.26%	-5.42%
SILK	1.5B	138.6M	-27.91%	-1.63%	-26.56	10.54	36.62%	-10.44%
AVNS	1.3B	820.0M	-1.92%	-12.15%	26.32	1.62	10.13%	701.59%
CSII	832.6M	239.8M	0.71%	-3.36%	-21.99	3.47	-4.74%	-31.15%

Financials for Irhythm Tech

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	8.1%	410,921,000	380,108,000	361,665,000	340,892,000	322,825,000
Gross Profit	10.8%	281,632,000	254,208,000	239,435,000	224,473,000	213,567,000
Operating Expenses	4.2%	395,416,000	379,493,000	366,916,000	345,495,000	313,510,000
S&GA Expenses	4.9%	322,198,000	307,080,000	297,266,000	278,184,000	274,839,000
R&D Expenses	1.8%	46,610,000	45,805,000	43,042,000	40,703,000	38,671,000
EBITDA	12.0%	-98,343,000	-111,816,000	-115,310,000	-110,108,000	-
EBITDA Margin	18.6%	-0.24	-0.29	-0.32	-0.32	-
Earnings Before Taxes	9.6%	-115,886,000	-128,193,000	-130,495,000	-123,875,000	-100,994,000
EBT Margin	16.4%	-0.28	-0.34	-0.36	-0.36	-
Interest Expenses	22.7%	4,138,000	3,373,000	3,038,000	2,863,000	1,169,000
Net Income	9.6%	-116,155,000	-128,448,000	-130,728,000	-124,191,000	-101,361,000
Net Income Margin	16.4%	-0.28	-0.34	-0.36	-0.36	-
Free Cahsflow	30.5%	-52,842,000	-75,995,000	-68,962,000	-64,224,000	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.8%	448	440	436	429	463
Current Assets	1.0%	289	286	285	286	306
Cash Equivalents	10.7%	79.00	71.00	101	95.00	128
Inventory	4.9%	15.00	14.00	14.00	12.00	10.00
Net PPE	5.8%	76.00	72.00	66.00	57.00	56.00
Goodwill	0%	1.00	1.00	1.00	1.00	1.00
Liabilities	3.6%	208	201	191	184	183
Current Liabilities	6.6%	89.00	84.00	70.00	62.00	88.00
Long Term Debt	-	10.00	-	-	-	-
LT Debt, Non Current	0.0%	35.00	35.00	35.00	35.00	10.00
Shareholder's Equity	0.2%	240	239	245	245	280
Retained Earnings	-4.0%	-522	-502	-480	-456	-406
Additional Paid-In Capital	2.8%	762	742	726	702	686
Accumulated Depreciation	9.6%	32.00	29.00	26.00	23.00	-
Shares Outstanding	0.3%	30.00	30.00	30.00	30.00	29.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	52.7%	-23.01	-48.63	-34.62	-34.80	-37.75
Share Based Compensation	7.3%	58.00	54.00	53.00	48.00	55.00
Cashflow From Investing	26.6%	-52.43	-71.45	-22.43	-20.30	105
Cashflow From Financing	11.6%	27.00	24.00	19.00	13.00	-28.58

Risks for IRTC

What is the probability of a big loss on IRTC?

89.6%

Probability that Irhythm Tech stock will be more than 20% underwater in next one year

71.9%

Probability that Irhythm Tech stock will be more than 30% underwater in next one year.

30.4%

Probability that Irhythm Tech stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does IRTC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Irhythm Tech was unfortunately bought at previous high price.

Drawdowns

Returns for IRTC

Cumulative Returns on IRTC

14.4%

5-Year Cumulative Returns

14.6%

3-Year Cumulative Returns

What are the long-term rolling returns for IRTC?

FIve years rolling returns for Irhythm Tech.

Annualized Returns

Which funds bought or sold IRTC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	20.42	-77,062	694,938	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-1.91	-68,000	187,000	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	-363,137	1,074,860	-%
2023-02-21	Empowered Funds, LLC	sold off	-100	-1,679,000	-	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-0.07	-584,000	1,578,000	-%
2023-02-17	TRUIST FINANCIAL CORP	reduced	-2.89	-709,324	1,879,680	-%
2023-02-17	Ascent Group, LLC	unchanged	-	-90,496	251,504	0.03%
2023-02-16	IMA Wealth, Inc.	unchanged	-	-171,182	505,818	0.13%
2023-02-16	HARBOUR INVESTMENTS, INC.	reduced	-52.38	-1,063	937	-%
2023-02-15	HOWE & RUSLING INC	sold off	-100	-38,000	-	-%

Latest Funds Activity

Are funds buying IRTC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own IRTC

No. of Funds

Irhythm Tech News

Schedule 13G FIlings of Irhythm Tech

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	sands capital management, llc	9.1%	2,667,428	SC 13G/A
Feb 09, 2023	vanguard group inc	9.55%	2,876,849	SC 13G/A
Jan 31, 2023	blackrock inc.	7.6%	2,288,507	SC 13G/A
Jan 27, 2023	mackenzie financial corp	4.14%	1,246,524	SC 13G/A
Feb 14, 2022	sands capital management, llc	10.34%	3,041,867	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	1.7%	524,505	SC 13G/A
Feb 04, 2022	mackenzie financial corp	5.73%	1,685,430	SC 13G/A
Feb 03, 2022	blackrock inc.	7.1%	2,084,707	SC 13G/A
Jan 24, 2022	jpmorgan chase & co	7.0%	2,083,625	SC 13G
Jul 09, 2021	brown capital management llc	0%	0	SC 13G/A

IRTC Fair Value

Irhythm Tech fair value in different scenarios

The table shows the Fair Value estimates for Irhythm Tech for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	4.01 -96.69%	6.61 -94.55%	14.47 -88.06%	29.61 -75.57%	60.33 -50.23%
Current Inflation	3.82 -96.85%	6.12 -94.95%	12.93 -89.33%	25.86 -78.67%	51.96 -57.13%
Very High Inflation	3.57 -97.05%	5.53 -95.44%	11.12 -90.83%	21.51 -82.25%	42.34 -65.07%

Historical Irhythm Tech Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Irhythm Tech

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	8-K	Current Report
Mar 10, 2023	8-K	Current Report
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading

Latest Insider Trading transactions for IRTC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	Devine Douglas	sold	-172,680	117	-1,473	chief operating officer
2023-03-03	Murphy Patrick Michael	sold	-66,938	117	-571	clo & evp ra/qa mrktacs & gov
2023-03-03	Wilson Daniel G.	sold	-166,701	117	-1,422	evp, strategy corp dev inv rel
2023-03-03	Day Mark J.	sold	-248,059	117	-2,116	chief technology officer
2023-02-28	Wilson Daniel G.	sold	-203,395	117	-1,726	evp, strategy corp dev inv rel
2023-02-28	Day Mark J.	sold	-225,431	117	-1,913	chief technology officer
2023-02-28	Devine Douglas	sold	-414,563	117	-3,518	chief operating officer
2023-02-27	Shrishrimal Sumi	acquired	-	-	6,961	evp, chief risk officer
2023-02-27	Bobzien Brice	acquired	-	-	9,282	chief financial officer
2023-02-27	Day Mark J.	acquired	-	-	11,822	chief technology officer

About Irhythm Tech

Quentin S. Blackford

www.irhythmtech.com

1700

iRhythm Technologies, Inc., a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias. The company's Zio XT and AT monitors, a single-use, wire-free, and wearable patch-based biosensors, records patient's heartbeats and ECG data. It has a development collaboration agreement with Verily Life Sciences LLC to develop various next-generation atrial fibrillation screening, detection, or monitoring products. The company was incorporated in 2006 and is headquartered in San Francisco, California.

IRTC Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue, net	$ 410,921	$ 322,825	$ 265,166
Cost of revenue	129,289	109,258	70,277
Gross profit	281,632	213,567	194,889
Operating expenses:
Research and development	46,610	38,671	41,329
Selling, general and administrative	322,198	274,839	197,233
Impairment and restructuring charges	26,608	0	0
Total operating expenses	395,416	313,510	238,562
Loss from operations	(113,784)	(99,943)	(43,673)
Interest expense	(4,138)	(1,169)	(1,519)
Other income (expense), net	2,036	118	1,591
Loss before income taxes	(115,886)	(100,994)	(43,601)
Income tax provision	269	367	229
Net loss	$ (116,155)	$ (101,361)	$ (43,830)
Net loss per common share, basic (in USD per share)	$ (3.88)	$ (3.46)	$ (1.58)
Net loss per common share, diluted (in USD per share)	$ (3.88)	$ (3.46)	$ (1.58)
Weighted-average shares, basic (in shares)	29,915,720	29,331,010	27,754,404
Weighted-average shares, diluted (in shares)	29,915,720	29,331,010	27,754,404

IRTC Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 78,832	$ 127,562
Short-term investments	134,312	111,569
Accounts receivable, net	49,918	46,430
Inventory	15,155	10,268
Prepaid expenses and other current assets	10,555	9,693
Total current assets	288,772	305,522
Property and equipment, net	75,670	55,944
Operating lease right-of-use assets	60,666	84,587
Goodwill	862	862
Other assets	22,252	16,052
Total assets	448,222	462,967
Current liabilities:
Accounts payable	7,517	10,509
Accrued liabilities	65,497	51,486
Deferred revenue	3,051	3,049
Debt, current	0	11,667
Operating lease liabilities, current	13,031	11,142
Total current liabilities	89,096	87,853
Debt, noncurrent	34,935	9,690
Other noncurrent liabilities	1,307	697
Operating lease liabilities, noncurrent	83,072	85,212
Total liabilities	208,410	183,452
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.001 par value – 5,000,000 shares authorized at December 31, 2022 and 2021; and none issued and outstanding at December 31, 2022 and 2021, respectively	0	0
Common stock, $0.001 par value – 100,000,000 shares authorized at December 31, 2022 and 2021; 30,193,101 and 29,493,726 shares issued and outstanding at December 31, 2022 and 2021, respectively	28	27
Additional paid-in capital	762,380	685,594
Accumulated other comprehensive income (loss)	(396)	(61)
Accumulated deficit	(522,200)	(406,045)
Total stockholders’ equity	239,812	279,515
Total liabilities and stockholders’ equity	$ 448,222	$ 462,967