IRTC Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2016βFY2025
iRhythm Holdings, Inc. had $747M of revenue in fiscal 2025, up 26.2% on the year before. Over five years, revenue changed +23.0% a year on average.
Last close Β· Oct 23, 2026
$121.27
1.4%Hi! I read iRhythm Holdings, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+26.2%
Yes. Sales grew 26.2% last year.
Does it make a profit?
β6.0%
No. It lost money last year.
Does profit turn into cash?
4.6%
Partly. 4.6% of sales ends up as free cash.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· iRhythm Holdings, Inc. had $747M of revenue in fiscal 2025, up 26.2% on the year before. Over five years, revenue changed +23.0% a year on average. Its operating margin was β7.7%, up 11.8Β pts: of every 100 in sales, about β8 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· iRhythm Holdings, Inc. lost $44.6M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $34.5M in fiscal 2025, 4.6% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· iRhythm Holdings, Inc. returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 2.6%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $0.1M and sold $29.6M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.1M
1 insider
Sold, 12 months
$29.6M
12 insiders
Of sales under plans
15%
$4.5M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Daniel G. WilsonChief Financial Officer | Sold | 773 | $121.83 | $0.1M | Form 4 |
| Aug 10, 2026 | Sumi ShrishrimalEVP, Chief Risk Officer | Sold | 5,372 | $124.65 | $0.7M | Form 4 |
| Aug 10, 2026 | Minang TurakhiaChief Med/Sci Ofcr EVP Advtech | Sold | 7,093 | $124.65 | $0.9M | Form 4 |
| Aug 10, 2026 | Patrick Michael MurphyCBO and CLO | Sold | 7,093 | $124.65 | $0.9M | Form 4 |
| Aug 10, 2026 | Quentin S. BlackfordPresident and CEO, Director | Sold | 26,859 | $124.65 | $3.3M | Form 4 |
| Aug 10, 2026 | Chad PattersonChief Comm & Product Officer | Sold | 7,093 | $124.65 | $0.9M | Form 4 |
| Aug 3, 2026 | Julianne RoddaEVP, Chief People Officer | Sold | 2,112 | $122.12 | $0.3M | Form 4 |
| Aug 3, 2026 | Mervin SmithEVP Strategic Business Ops | Sold | 617 | $122.12 | $0.1M | Form 4 |
| Aug 3, 2026 | Chad PattersonChief Comm & Product Officer | Sold | 2,712 | $122.12 | $0.3M | Form 4 |
| Jul 2, 2026 | Sean Clinton FreemanEVP, Strategy & Corp Devt | Sold | 918 | $124.71 | $0.1M | Form 4 |
| Jul 2, 2026 | Minang TurakhiaChief Med/Sci Ofcr EVP Advtech | Sold | 1,423 | $124.71 | $0.2M | Form 4 |
| Jun 2, 2026 | Sumi ShrishrimalEVP, Chief Risk Officer | Sold | 1,716 | $108.19 | $0.2M | Form 4 |
| Jun 2, 2026 | Marc Wade RosenbaumChief Accounting Officer | Sold | 729 | $108.19 | $0.1M | Form 4 |
| May 11, 2026 | Abhijit Y TalwalkarDirector | Bought plan | 5,312 | $10.71 | $0.1M | Form 4 |
| May 11, 2026 | Abhijit Y TalwalkarDirector | Sold plan | 5,312 | $117.93 | $0.6M | Form 4 |
| May 4, 2026 | Brian Lee LawrenceChief Technology Officer | Sold | 1,014 | $120.80 | $0.1M | Form 4 |
| Mar 16, 2026 | Mervin SmithEVP Strategic Business Ops | Sold plan | 2,585 | $114.30 | $0.3M | Form 4 |
| Mar 2, 2026 | Chad PattersonChief Comm & Product Officer | Sold | 4,444 | $128.44 | $0.6M | Form 4 |
| Mar 2, 2026 | Minang TurakhiaChief Med/Sci Ofcr EVP Advtech | Sold | 4,027 | $128.45 | $0.5M | Form 4 |
| Mar 2, 2026 | Patrick Michael MurphyCBO and CLO | Sold | 4,357 | $128.44 | $0.6M | Form 4 |
| Mar 2, 2026 | Mervin SmithEVP Strategic Business Ops | Sold | 1,352 | $128.44 | $0.2M | Form 4 |
| Mar 2, 2026 | Marc Wade RosenbaumChief Accounting Officer | Sold | 816 | $128.45 | $0.1M | Form 4 |
| Mar 2, 2026 | Quentin S. BlackfordPresident and CEO, Director | Sold | 13,813 | $128.44 | $1.8M | Form 4 |
| Mar 2, 2026 | Sumi ShrishrimalEVP, Chief Risk Officer | Sold | 2,830 | $128.44 | $0.4M | Form 4 |
| Mar 2, 2026 | Daniel G. WilsonChief Financial Officer | Sold | 3,395 | $128.45 | $0.4M | Form 4 |
| Feb 25, 2026 | Quentin S. BlackfordPresident and CEO, Director | Sold | 25,540 | $135.42 | $3.5M | Form 4 |
| Feb 25, 2026 | Mervin SmithEVP Strategic Business Ops | Sold | 4,041 | $135.42 | $0.5M | Form 4 |
| Feb 25, 2026 | Sumi ShrishrimalEVP, Chief Risk Officer | Sold | 6,217 | $135.42 | $0.8M | Form 4 |
| Feb 25, 2026 | Patrick Michael MurphyCBO and CLO | Sold | 7,805 | $135.42 | $1.1M | Form 4 |
| Feb 25, 2026 | Minang TurakhiaChief Med/Sci Ofcr EVP Advtech | Sold | 7,804 | $135.42 | $1.1M | Form 4 |
| Feb 25, 2026 | Marc Wade RosenbaumChief Accounting Officer | Sold | 4,797 | $135.42 | $0.6M | Form 4 |
| Feb 25, 2026 | Daniel G. WilsonChief Financial Officer | Sold | 5,188 | $135.42 | $0.7M | Form 4 |
| Feb 25, 2026 | Chad PattersonChief Comm & Product Officer | Sold | 8,967 | $135.42 | $1.2M | Form 4 |
| Feb 24, 2026 | Mervin SmithEVP Strategic Business Ops | Sold plan | 732 | $140.91 | $0.1M | Form 4 |
| Feb 24, 2026 | Marc Wade RosenbaumChief Accounting Officer | Sold plan | 280 | $140.91 | $0.0M | Form 4 |
| Feb 23, 2026 | Abhijit Y TalwalkarDirector | Sold plan | 5,312 | $145.71 | $0.8M | Form 4 |
| Dec 2, 2025 | Patrick Michael MurphyCBO and CLO | Sold | 2,478 | $184.83 | $0.5M | Form 4 |
| Dec 2, 2025 | Chad PattersonChief Comm & Product Officer | Sold plan | 280 | $184.83 | $0.1M | Form 4 |
| Nov 10, 2025 | Abhijit Y TalwalkarDirector | Sold plan | 5,312 | $174.13 | $0.9M | Form 4 |
| Nov 3, 2025 | Quentin S. BlackfordPresident and CEO, Director | Sold | 14,059 | $182.94 | $2.6M | Form 4 |
| Oct 31, 2025 | Daniel G. WilsonChief Financial Officer | Sold plan | 8,000 | $207.44 | $1.7M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably iRhythm Holdings, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $239M | $213M | $134M | $536M | $584M |
| Debt incl. finance leases | $21.4M | $34.9M | $35.0M | β | β |
| Debt / equity | 0.1x | 0.1x | 0.2x | β | β |
| Interest coverage | β85.5x | β27.5x | β34.3x | β9.0x | β4.4x |
| Current ratio | 3.5x | 3.2x | 2.1x | 5.8x | 4.6x |
| Quick ratio | 3.4x | 3.1x | 2.0x | 5.7x | 4.5x |
| Total assets | $463M | $448M | $433M | $931M | $1.0B |
| Total liabilities | $183M | $208M | $223M | $841M | $867M |
| Shareholders' equity | $280M | $240M | $210M | $90.9M | $153M |
| Net debt (β = net cash) | β$218M | β$178M | β$98.8M | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· iRhythm Holdings, Inc. passes 5 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 9 | 4 / 9 | 4 / 9 | 4 / 9 | 3 / 9 | 3 / 9 | 2 / 9 | 5 / 8 | 5 / 8 |
| Accruals ratio | β3.1% | β10.9% | β17.0% | β15.4% | β7.4% | β13.1% | β20.4% | β16.6% | β17.1% | β12.9% |
| Altman Z'' | 3.39 | 1.16 | β3.36 | β0.56 | 3.60 | 0.37 | β1.37 | β3.94 | 0.39 | 0.78 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $64.1M | $99.1M | $147M | $215M | $265M | $323M | $411M | $493M | $592M | $747M |
| Gross profit | $43.2M | $70.9M | $108M | $162M | $195M | $214M | $282M | $332M | $408M | $527M |
| Research and development | $7.2M | $13.3M | $20.9M | $37.3M | $41.3M | $38.7M | $46.6M | $60.2M | $71.5M | $84.6M |
| Operating income | β$15.6M | β$27.6M | β$45.7M | β$54.8M | β$43.7M | β$99.9M | β$114M | β$125M | β$116M | β$57.4M |
| Interest expense | $3.2M | $3.4M | $3.1M | $1.6M | $1.5M | $1.2M | $4.1M | $3.7M | $12.8M | $13.2M |
| Pretax income | β$20.9M | β$29.7M | β$50.3M | β$54.5M | β$43.6M | β$101M | β$116M | β$123M | β$113M | β$43.6M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.1M | $0.2M | $0.4M | $0.3M | $0.8M | $0.6M | $1.0M |
| Net income | β$20.9M | β$29.7M | β$50.4M | β$54.6M | β$43.8M | β$101M | β$116M | β$123M | β$113M | β$44.6M |
| Diluted EPS | β$3.95 | β$1.31 | β$2.11 | β$2.16 | β$1.58 | β$3.46 | β$3.88 | β$4.04 | β$3.63 | β$1.39 |
| Diluted shares | 0.01B | 0.02B | 0.02B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B |
| Cash flow | ||||||||||
| Cash from operations | β$16.7M | β$14.9M | β$29.1M | β$21.9M | β$13.8M | β$37.8M | β$23.0M | β$50.1M | $3.4M | $80.9M |
| Capital expenditure | $2.8M | $3.6M | $5.2M | $20.5M | $13.6M | $28.1M | $29.8M | $40.4M | $33.9M | $46.3M |
| Free cash flow | β$19.4M | β$18.5M | β$34.3M | β$42.3M | β$27.3M | β$65.8M | β$52.8M | β$90.5M | β$30.6M | $34.5M |
| Depreciation and amortization | $0.6M | $1.6M | $2.3M | $3.4M | $6.9M | $9.8M | $13.4M | $16.3M | $20.7M | $20.7M |
| Stock-based compensation | $1.9M | $9.8M | $16.3M | $26.2M | $41.5M | $54.5M | $57.7M | $77.2M | $76.0M | $88.3M |
| Share buybacks | β | β | β | β | β | β | $0.0M | $0.0M | $25.0M | $0.0M |
| Dividends and buybacks | β | β | β | β | β | β | $0.0M | $0.0M | $25.0M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $106M | $102M | $78.3M | $141M | $335M | $239M | $213M | $134M | $536M | $584M |
| Total debt | $46.3M | $44.8M | $34.9M | $34.9M | $33.0M | $21.4M | $34.9M | $35.0M | β | β |
| Current assets | $119M | $120M | $104M | $173M | $378M | $306M | $289M | $231M | $646M | $703M |
| Current liabilities | $13.2M | $21.4M | $30.3M | $52.1M | $65.7M | $87.9M | $89.1M | $107M | $111M | $152M |
| Inventory | $1.4M | $1.7M | $2.1M | $4.0M | $5.3M | $10.3M | $15.2M | $14.0M | $14.0M | $21.6M |
| Property and equipment, net | $4.7M | $6.3M | $9.2M | $26.5M | $34.2M | $55.9M | $75.7M | $104M | $125M | $152M |
| Goodwill | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M |
| Total assets | $138M | $133M | $118M | $306M | $512M | $463M | $448M | $433M | $931M | $1.0B |
| Total liabilities | $45.6M | $54.0M | $65.4M | $171M | $170M | $183M | $208M | $223M | $841M | $867M |
| Preferred stock | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $93.0M | $79.3M | $52.1M | $135M | $342M | $280M | $240M | $210M | $90.9M | $153M |
| Margins | ||||||||||
| Gross margin | 67.4% | 71.5% | 73.7% | 75.5% | 73.5% | 66.2% | 68.5% | 67.3% | 68.9% | 70.6% |
| Operating margin | β24.3% | β27.8% | β31.0% | β25.5% | β16.5% | β31.0% | β27.7% | β25.4% | β19.5% | β7.7% |
| EBITDA margin | β23.4% | β26.2% | β29.5% | β23.9% | β13.9% | β27.9% | β24.4% | β22.1% | β16.0% | β4.9% |
| Net margin | β32.6% | β30.0% | β34.2% | β25.4% | β16.5% | β31.4% | β28.3% | β25.0% | β19.1% | β6.0% |
| FCF margin | β30.3% | β18.6% | β23.3% | β19.7% | β10.3% | β20.4% | β12.9% | β18.4% | β5.2% | 4.6% |
| Returns | ||||||||||
| Return on capital | β36.9% | β100.2% | β415.2% | β145.2% | β87.6% | β127.9% | β145.9% | β88.9% | β | β |
| Return on capital employed | β12.5% | β24.6% | β52.4% | β21.5% | β9.8% | β26.6% | β31.7% | β38.4% | β14.1% | β6.6% |
| Return on equity | β22.5% | β34.5% | β76.6% | β58.2% | β18.4% | β32.6% | β44.7% | β54.9% | β75.3% | β36.6% |
| Return on assets | β15.1% | β21.9% | β40.2% | β25.8% | β10.7% | β20.8% | β25.5% | β28.0% | β16.6% | β4.6% |
| Return on tangible equity | β22.7% | β37.9% | β98.3% | β40.6% | β12.9% | β36.4% | β48.6% | β59.0% | β125.8% | β29.3% |
| Growth | ||||||||||
| Revenue growth | β | 54.7% | 48.6% | 45.7% | 23.6% | 21.7% | 27.3% | 19.9% | 20.1% | 26.2% |
| Share count change | β | 328.1% | 5.6% | 5.8% | 9.8% | 5.7% | 2.0% | 2.0% | 2.2% | 2.6% |
| Financial health | ||||||||||
| Debt / equity | 0.5x | 0.6x | 0.7x | 0.3x | 0.1x | 0.1x | 0.1x | 0.2x | β | β |
| Interest coverage | β4.8x | β8.1x | β14.7x | β33.3x | β28.8x | β85.5x | β27.5x | β34.3x | β9.0x | β4.4x |
| Current ratio | 9.0x | 5.6x | 3.4x | 3.3x | 5.8x | 3.5x | 3.2x | 2.1x | 5.8x | 4.6x |
| Quick ratio | 8.9x | 5.5x | 3.4x | 3.2x | 5.7x | 3.4x | 3.1x | 2.0x | 5.7x | 4.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 4.3% | 3.6% | 3.5% | 9.5% | 5.1% | 8.7% | 7.3% | 8.2% | 5.7% | 6.2% |
| Stock comp / revenue | 2.9% | 9.8% | 11.1% | 12.2% | 15.7% | 16.9% | 14.1% | 15.7% | 12.8% | 11.8% |
| Payouts / FCF | β | β | β | β | β | β | β | β | β | 0.0% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 4.0 | 4.0 | 4.0 | 3.0 | 3.0 | 2.0 | 5.0 | 5.0 |
| Altman Z'' | 3.4 | 1.2 | β3.4 | β0.6 | 3.6 | 0.4 | β1.4 | β3.9 | 0.4 | 0.8 |
| Accruals ratio | β3.1% | β10.9% | β17.0% | β15.4% | β7.4% | β13.1% | β20.4% | β16.6% | β17.1% | β12.9% |
Source: SEC EDGAR XBRL filings (CIK 0001388658). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
