$IRTC
iRhythm Technologies Inc

2020 Q4 Form 10-Q Financial Statement

#000138865820000266 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $78.81M $71.94M $59.10M
YoY Change 33.34% 31.59% 41.46%
Cost Of Revenue $20.50M $18.23M $13.92M
YoY Change 47.27% 32.26% 29.49%
Gross Profit $58.31M $53.71M $45.19M
YoY Change 29.04% 31.36% 45.88%
Gross Profit Margin 73.99% 74.66% 76.46%
Selling, General & Admin $56.29M $49.70M $53.65M
YoY Change 4.92% 8.88% 37.92%
% of Gross Profit 96.53% 92.53% 118.72%
Research & Development $11.60M $8.768M $9.270M
YoY Change 25.13% -35.05% 30.38%
% of Gross Profit 19.89% 16.32% 20.51%
Depreciation & Amortization $1.980M $1.700M $1.190M
YoY Change 66.39% 78.95% 98.33%
% of Gross Profit 3.4% 3.17% 2.63%
Operating Expenses $67.89M $58.47M $62.91M
YoY Change 7.92% -1.15% 36.73%
Operating Profit -$9.579M -$4.757M -$17.72M
YoY Change -45.95% -73.95% 17.87%
Interest Expense -$370.0K $384.0K -$390.0K
YoY Change -5.13% -6.11% -27.78%
% of Operating Profit
Other Income/Expense, Net $280.0K $569.0K $830.0K
YoY Change -66.27% 43.69% 97.62%
Pretax Income -$9.680M -$4.572M -$17.28M
YoY Change -43.98% -74.98% 3.04%
Income Tax -$20.00K $105.0K $20.00K
% Of Pretax Income
Net Earnings -$9.651M -$4.677M -$17.30M
YoY Change -44.21% -74.43% 6.33%
Net Earnings / Revenue -12.25% -6.5% -29.27%
Basic Earnings Per Share -$0.17
Diluted Earnings Per Share -$333.4K -$0.17 -$650.1K
COMMON SHARES
Basic Shares Outstanding 28.87M shares 28.05M shares 26.62M shares
Diluted Shares Outstanding 28.05M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $335.2M $327.2M $140.6M
YoY Change 138.5% 114.27% 79.4%
Cash & Equivalents $88.63M $95.34M $20.46M
Short-Term Investments $246.6M $231.9M $120.1M
Other Short-Term Assets $7.400M $4.700M $4.300M
YoY Change 72.09% 27.03% 4.88%
Inventory $5.313M $5.062M $4.037M
Prepaid Expenses
Receivables $29.93M $28.96M $23.87M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $377.8M $365.9M $172.8M
YoY Change 118.66% 97.93% 65.68%
LONG-TERM ASSETS
Property, Plant & Equipment $34.25M $32.78M $26.46M
YoY Change 29.41% 84.1% 188.97%
Goodwill $862.0K $862.0K $862.0K
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $8.000M
YoY Change -100.0% -100.0%
Other Assets $14.09M $11.38M $7.940M
YoY Change 77.47% 104.13% 147.51%
Total Long-Term Assets $133.9M $131.3M $133.4M
YoY Change 0.37% 4.84% 908.62%
TOTAL ASSETS
Total Short-Term Assets $377.8M $365.9M $172.8M
Total Long-Term Assets $133.9M $131.3M $133.4M
Total Assets $511.7M $497.2M $306.2M
YoY Change 67.12% 60.35% 160.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.365M $3.838M $8.243M
YoY Change -47.05% -8.34% 260.9%
Accrued Expenses $40.53M $32.19M $32.71M
YoY Change 23.9% -0.13% 22.58%
Deferred Revenue $930.0K $938.0K $1.251M
YoY Change -25.66% 5.51% 2.29%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.70M $10.70M $1.900M
YoY Change 515.79%
Total Short-Term Liabilities $65.67M $55.87M $52.07M
YoY Change 26.12% 22.87% 71.64%
LONG-TERM LIABILITIES
Long-Term Debt $21.34M $24.25M $32.99M
YoY Change -35.31% -30.57% -5.47%
Other Long-Term Liabilities $1.830M $82.50M $0.00
YoY Change -5.28% -100.0%
Total Long-Term Liabilities $23.17M $24.25M $32.99M
YoY Change -29.77% -30.57% -5.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.67M $55.87M $52.07M
Total Long-Term Liabilities $23.17M $24.25M $32.99M
Total Liabilities $170.1M $162.7M $170.8M
YoY Change -0.4% -2.89% 161.22%
SHAREHOLDERS EQUITY
Retained Earnings -$304.7M -$295.0M -$260.4M
YoY Change 17.01% 21.37% 26.51%
Common Stock $646.3M $629.5M $395.7M
YoY Change 63.32% 63.24% 53.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $341.6M $334.5M $135.4M
YoY Change
Total Liabilities & Shareholders Equity $511.7M $497.2M $306.2M
YoY Change 67.12% 60.35% 160.55%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income -$9.651M -$4.677M -$17.30M
YoY Change -44.21% -74.43% 6.33%
Depreciation, Depletion And Amortization $1.980M $1.700M $1.190M
YoY Change 66.39% 78.95% 98.33%
Cash From Operating Activities $7.820M $10.94M -$4.860M
YoY Change -260.91% -1372.09% 11.21%
INVESTING ACTIVITIES
Capital Expenditures -$2.360M -$5.600M -$11.82M
YoY Change -80.03% 66.67% 693.29%
Acquisitions
YoY Change
Other Investing Activities -$15.12M -$198.9M -$690.0K
YoY Change 2091.3% 137.61% -111.94%
Cash From Investing Activities -$17.48M -$204.5M -$12.50M
YoY Change 39.84% 134.86% -391.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $206.8M
YoY Change 92.73%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.960M 207.2M 3.200M
YoY Change -7.5% 94.38% 16.36%
NET CHANGE
Cash From Operating Activities 7.820M 10.94M -4.860M
Cash From Investing Activities -17.48M -204.5M -12.50M
Cash From Financing Activities 2.960M 207.2M 3.200M
Net Change In Cash -6.700M 13.60M -14.16M
YoY Change -52.68% -27.04% -630.34%
FREE CASH FLOW
Cash From Operating Activities $7.820M $10.94M -$4.860M
Capital Expenditures -$2.360M -$5.600M -$11.82M
Free Cash Flow $10.18M $16.54M $6.960M
YoY Change 46.26% 561.6% -341.67%

Facts In Submission

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347000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3438000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
2366000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4700000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-119000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5365000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5635000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-313000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-334000 USD
irtc Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-3535000 USD
irtc Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-4079000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21577000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17003000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11187000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8640000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
214889000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
146026000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
14525000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
96645000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
77900000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-114906000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-76766000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13682000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6409000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8712000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5111000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
206387000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
107082000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
211357000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
211357000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
108380000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
74874000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14611000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20462000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20023000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
95336000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
34634000 USD
us-gaap Interest Paid Net
InterestPaidNet
1132000 USD
us-gaap Interest Paid Net
InterestPaidNet
1246000 USD
irtc Property Plant And Equipment Costs Included In Liabilities
PropertyPlantAndEquipmentCostsIncludedInLiabilities
47000 USD
irtc Property Plant And Equipment Costs Included In Liabilities
PropertyPlantAndEquipmentCostsIncludedInLiabilities
2259000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
621000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
89170000 USD
irtc Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
356000 USD
irtc Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
217000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
117946000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4321000 USD
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
206031000 USD
CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3563000 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14601000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-4677000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-113000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
334546000 USD
CY2020Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
175.00
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
135409000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
13682000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
206031000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
8712000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22790000 USD
us-gaap Net Income Loss
NetIncomeLoss
-34179000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-14000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
334546000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
46752000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1001000 USD
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
107299000 USD
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1554000 USD
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7401000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-18293000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-21000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
142585000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
52137000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
6409000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
107299000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5111000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19064000 USD
us-gaap Net Income Loss
NetIncomeLoss
-37268000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
55000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
142585000 USD
CY2019Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1575342 shares
CY2019Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
73.00
CY2019Q3 irtc Underwriters Option To Purchase Additional Shares Of Common Stock
UnderwritersOptionToPurchaseAdditionalSharesOfCommonStock
205479 shares
CY2019Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
107300000 USD
CY2020Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1257142 shares
CY2020Q3 irtc Underwriters Option To Purchase Additional Shares Of Common Stock
UnderwritersOptionToPurchaseAdditionalSharesOfCommonStock
163975 shares
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
206800000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9049000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7296000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7296000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7231000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9129000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6126000 USD
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
5704000 USD
CY2019 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
7376000 USD
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
6092000 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11037000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9049000 USD
CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7330000 USD
CY2019Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
15433000 USD
CY2018Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
9205000 USD
CY2018Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
9205000 USD
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
13220000 USD
CY2019 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
15518000 USD
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
11638000 USD
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
10750000 USD
CY2019 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
9290000 USD
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
7692000 USD
CY2020Q3 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
17903000 USD
CY2019Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
15433000 USD
CY2019Q3 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
13151000 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Risk</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents, investments and accounts receivable. Cash balances are deposited in financial institutions which, at times may be in excess of federally insured limits. Cash equivalents are invested in highly-rated money market funds. The Company invests in a variety of financial instruments, such as, but not limited to, United States Government securities, corporate notes, commercial paper and, by policy, limits the amount of credit exposure with any one financial institution or commercial issuer. The Company has not experienced any material losses on its deposits of cash and cash equivalents or investments.</span></div>Concentrations of credit risk with respect to accounts receivable are limited due to the large number of customers comprising the Company’s customer base and their dispersion across many geographies. The Company does not require collateral. The Company records an allowance for doubtful accounts based on the assessment of the collectability of customer accounts, considering factors such as historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay.
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
71944000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
54673000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
186357000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155448000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
306619000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
75000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
306687000 USD
CY2020Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
74786000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
231901000 USD
CY2020Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
306687000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
141934000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
83000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
142016000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
46423000 USD
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
13897000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
120089000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
8030000 USD
CY2019Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
142016000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
306687000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
133986000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
8030000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
306687000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
142016000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
7000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 investment_security
irtc Available For Sale Debt Securities Maturity Period
AvailableForSaleDebtSecuritiesMaturityPeriod
P109D
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
6 investment_security
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 investment_security
CY2020Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
306687000 USD
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
142016000 USD
CY2020Q3 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
5062000 USD
CY2019Q4 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
4037000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
45305000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34096000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12530000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7632000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32775000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26464000 USD
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1700000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4900000 USD
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
900000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2300000 USD
CY2020Q3 us-gaap Accrued Vacation Current
AccruedVacationCurrent
5504000 USD
CY2019Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
3809000 USD
CY2020Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
15931000 USD
CY2019Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
19156000 USD
CY2020Q3 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
2073000 USD
CY2019Q4 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
417000 USD
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1131000 USD
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2846000 USD
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
124000 USD
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
128000 USD
CY2020Q3 irtc Claims Payable Current
ClaimsPayableCurrent
4086000 USD
CY2019Q4 irtc Claims Payable Current
ClaimsPayableCurrent
2802000 USD
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3336000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3556000 USD
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
32185000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
32714000 USD
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Dividends Common Stock
DividendsCommonStock
0 USD
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9916945 shares
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9098512 shares
irtc Stock Issued During Period Shares Restricted Stock Award Grants In Period
StockIssuedDuringPeriodSharesRestrictedStockAwardGrantsInPeriod
582322 shares
irtc Stock Issued During Period Shares Restricted Stock Award Vested
StockIssuedDuringPeriodSharesRestrictedStockAwardVested
219436 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
125617 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2094137 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.20
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7D
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
97976000 USD
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20010 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
82.77
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
540307 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
9.59
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
70593 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
54.54
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
37.71
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1503247 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
27.40
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y5M4D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62401000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
731182 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
24191 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
66.99
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
747874 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
37.92
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M24D
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
149719000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
584180 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
31.68
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M28D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
120594000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
742666 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y4M20D
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
148827000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
38.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17444000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7401000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27517000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19064000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5000000.0 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M12D
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-4677000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-18293000 USD
us-gaap Net Income Loss
NetIncomeLoss
-34179000 USD
us-gaap Net Income Loss
NetIncomeLoss
-37268000 USD
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28050210 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25247831 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27358096 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24818482 shares
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.72
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.25
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.50
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1871173 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2509149 shares

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