Trade iRhythm Technologies Inc - IRTC CFD

iRhythm Technologies, Inc. Company profile

About Irhythm Technologies Inc

iRhythm Technologies, Inc. is a digital healthcare company. It focuses on diagnosing cardiac arrhythmias by combining its wearable biosensing technology with cloud-based data analytics. It provides ambulatory electrocardiogram (ECG) monitoring for patients at risk for arrhythmias. It has created a portfolio of ambulatory cardiac monitoring services on a platform, called the Zio service. Its Zio service consists of wearable patch-based biosensors, Zio XT and Zio AT monitors, which records and stores ECG data from every patient heartbeat for up to 14 consecutive days. Zio service then provides cloud-based analysis of the recorded cardiac rhythms using its algorithms, an assessment review of the data by its cardiographic technicians, a report called Zio report, which includes the summary of findings and finally its cloud-based digital information system, ZioSuite, allows clinicians to connect via a Web browser or mobile application for online report interpretation and clinical workflows.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Irhythm Technologies Inc revenues increased 22% to $322.8M. Net loss increased from $43.8M to $101.4M. Revenues reflect Contracted third-party payors segment increase of 43% to $193.9M, Healthcare Institutions segment increase of 39% to $57.5M. Higher net loss reflects Selling, general and administrative - B increase of 39% to $227.8M (expense).