2022 Q1 Form 10-Q Financial Statement

#000138865822000065 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $92.38M $74.31M
YoY Change 24.31% 16.96%
Cost Of Revenue $30.62M $23.46M
YoY Change 30.53% 46.04%
Gross Profit $61.76M $50.85M
YoY Change 21.45% 7.12%
Gross Profit Margin 66.85% 68.43%
Selling, General & Admin $73.16M $69.81M
YoY Change 4.79% 44.75%
% of Gross Profit 118.46% 137.28%
Research & Development $10.54M $8.510M
YoY Change 23.88% 1.13%
% of Gross Profit 17.07% 16.73%
Depreciation & Amortization $3.143M $2.040M
YoY Change 54.07% 31.61%
% of Gross Profit 5.09% 4.01%
Operating Expenses $110.3M $78.32M
YoY Change 40.84% 38.27%
Operating Profit -$48.55M -$27.47M
YoY Change 76.73% 199.47%
Interest Expense $2.029M $335.0K
YoY Change 505.67% -11.84%
% of Operating Profit
Other Income/Expense, Net $16.00K $124.0K
YoY Change -87.1% -75.45%
Pretax Income -$50.56M -$27.68M
YoY Change 82.66% 205.94%
Income Tax $47.00K $98.00K
% Of Pretax Income
Net Earnings -$50.61M -$27.78M
YoY Change 82.18% 206.44%
Net Earnings / Revenue -54.78% -37.38%
Basic Earnings Per Share -$1.71 -$0.95
Diluted Earnings Per Share -$1.71 -$0.95
COMMON SHARES
Basic Shares Outstanding 29.60M shares 29.16M shares
Diluted Shares Outstanding 29.60M shares 29.16M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $208.8M $262.3M
YoY Change -20.4% 115.39%
Cash & Equivalents $94.79M $137.4M
Short-Term Investments $114.0M $124.9M
Other Short-Term Assets $9.838M $7.000M
YoY Change 40.54% 66.67%
Inventory $12.45M $6.863M
Prepaid Expenses
Receivables $55.29M $59.98M
Other Receivables $0.00 $0.00
Total Short-Term Assets $286.4M $336.1M
YoY Change -14.8% 117.64%
LONG-TERM ASSETS
Property, Plant & Equipment $57.14M $37.45M
YoY Change 52.58% 31.61%
Goodwill $862.0K $862.0K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.11M $14.87M
YoY Change 28.55% 49.5%
Total Long-Term Assets $142.4M $142.4M
YoY Change -0.01% 10.79%
TOTAL ASSETS
Total Short-Term Assets $286.4M $336.1M
Total Long-Term Assets $142.4M $142.4M
Total Assets $428.7M $478.5M
YoY Change -10.4% 69.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.413M $5.152M
YoY Change 5.07% -7.07%
Accrued Expenses $41.94M $36.26M
YoY Change 15.65% 55.98%
Deferred Revenue $2.933M $1.425M
YoY Change 105.82% 27.8%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $11.70M
YoY Change -100.0% 138.78%
Total Short-Term Liabilities $61.78M $59.38M
YoY Change 4.04% 38.6%
LONG-TERM LIABILITIES
Long-Term Debt $34.92M $18.43M
YoY Change 89.49% -38.73%
Other Long-Term Liabilities $832.0K $1.836M
YoY Change -54.68% -97.84%
Total Long-Term Liabilities $35.75M $20.26M
YoY Change 76.43% -32.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.78M $59.38M
Total Long-Term Liabilities $35.75M $20.26M
Total Liabilities $183.9M $168.9M
YoY Change 8.86% 6.93%
SHAREHOLDERS EQUITY
Retained Earnings -$456.7M -$332.5M
YoY Change 37.35% 23.17%
Common Stock $701.8M $642.0M
YoY Change 9.32% 62.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $244.8M $309.6M
YoY Change
Total Liabilities & Shareholders Equity $428.7M $478.5M
YoY Change -10.4% 69.11%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$50.61M -$27.78M
YoY Change 82.18% 206.44%
Depreciation, Depletion And Amortization $3.143M $2.040M
YoY Change 54.07% 31.61%
Cash From Operating Activities -$38.89M -$41.84M
YoY Change -7.07% 87.08%
INVESTING ACTIVITIES
Capital Expenditures $5.572M $4.211M
YoY Change 32.32% 23.67%
Acquisitions
YoY Change
Other Investing Activities -$2.955M $121.3M
YoY Change -102.44% 91.49%
Cash From Investing Activities -$8.527M $117.0M
YoY Change -107.29% 95.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.576M
YoY Change -46.92%
Debt Paid & Issued, Net $21.39M $2.917M
YoY Change 633.25%
Cash From Financing Activities $14.64M -$26.45M
YoY Change -155.34% 1671.33%
NET CHANGE
Cash From Operating Activities -$38.89M -$41.84M
Cash From Investing Activities -$8.527M $117.0M
Cash From Financing Activities $14.64M -$26.45M
Net Change In Cash -$32.78M $48.75M
YoY Change -167.24% 35.21%
FREE CASH FLOW
Cash From Operating Activities -$38.89M -$41.84M
Capital Expenditures $5.572M $4.211M
Free Cash Flow -$44.46M -$46.05M
YoY Change -3.47% 78.7%

Facts In Submission

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CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2022Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1076000 USD
CY2021Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1576000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
25105000 USD
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
51000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14636000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-26446000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-32776000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
48747000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127562000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88628000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94786000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
137375000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1967000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
331000 USD
CY2022Q1 irtc Property Plant And Equipment Costs Included In Liabilities
PropertyPlantAndEquipmentCostsIncludedInLiabilities
225000 USD
CY2021Q1 irtc Property Plant And Equipment Costs Included In Liabilities
PropertyPlantAndEquipmentCostsIncludedInLiabilities
115000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7666000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5757000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1250000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
911000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
341612000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1576000 USD
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
25105000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19267000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-27779000 USD
CY2021Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
309572000 USD
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
279515000 USD
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1076000 USD
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15152000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-50609000 USD
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-292000 USD
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
244842000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
74311000 USD
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="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:115%">Use of Estimates</span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, contractual allowances, allowance for doubtful accounts, the useful lives of property and equipment, the recoverability of long-lived assets including the estimated usage of the printed circuit board assemblies (“PCBAs”), the incremental borrowing rate for operating leases, accounting for income taxes, impairment of right-of-use assets ("ROU assets"), and various inputs used in estimating stock-based compensation. Certain of these estimates are impacted by uncertainties surrounding COVID-19 such as revenue recognition, contractual allowances for revenue, allowance for doubtful accounts, and stock-based compensation. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that management believes are reasonable under the circumstances, including assumptions as to future events. Actual results may differ from those estimates.</span></div>
CY2022Q1 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
23200000 USD
CY2022Q1 irtc Uncollected Claims
UncollectedClaims
12900000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14012000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12711000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12711000 USD
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4413000 USD
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9615000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3095000 USD
CY2022Q1 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
60000 USD
CY2021 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
8314000 USD
CY2021Q1 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
3046000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18365000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14012000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12760000 USD
CY2021Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
31274000 USD
CY2020Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
21281000 USD
CY2020Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
21281000 USD
CY2022Q1 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
9609000 USD
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2700000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
900000 USD
CY2021 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
27459000 USD
CY2021Q1 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
6673000 USD
CY2022Q1 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
26000 USD
CY2021 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
17466000 USD
CY2021Q1 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
3185000 USD
CY2022Q1 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
40857000 USD
CY2021Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
31274000 USD
CY2021Q1 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
24769000 USD
CY2022Q1 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, U.S. 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.
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
92378000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
156940000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
358000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
156587000 USD
CY2022Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
42589000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
113998000 USD
CY2022Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
156587000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
221767000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
61000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
221706000 USD
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
110137000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
111569000 USD
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
221706000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
156587000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
221706000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
156587000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
221706000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 investment_security
CY2022Q1 irtc Available For Sale Debt Securities Maturity Period
AvailableForSaleDebtSecuritiesMaturityPeriod
P111D
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
11 investment_security
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 investment_security
CY2022Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
156587000 USD
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
221706000 USD
CY2022Q1 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
12446000 USD
CY2021Q4 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
10268000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
82981000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
78648000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25846000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22704000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
57135000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
55944000 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3100000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2000000.0 USD
CY2022Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
8371000 USD
CY2021Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
7431000 USD
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
18871000 USD
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
34484000 USD
CY2022Q1 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
2748000 USD
CY2021Q4 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
1002000 USD
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1794000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1724000 USD
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
47000 USD
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
78000 USD
CY2022Q1 irtc Claims Payable Current
ClaimsPayableCurrent
2770000 USD
CY2021Q4 irtc Claims Payable Current
ClaimsPayableCurrent
2988000 USD
CY2022Q1 us-gaap Restructuring Reserve
RestructuringReserve
2902000 USD
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4432000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3779000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
41935000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
51486000 USD
CY2022Q1 irtc Sublease Square Feet Percent
SubleaseSquareFeetPercent
0.50
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
23164000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3400000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3200000 USD
CY2022Q1 irtc Lessee Operating Sublease Lease Percentage
LesseeOperatingSubleaseLeasePercentage
0.50
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6550000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13995000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14265000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14681000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
15108000 USD
CY2022Q1 irtc Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
75390000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
139989000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
42144000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
97845000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y6M21D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
7.28
CY2022Q1 irtc Collaboration Agreement Additional Milestone Payments Between2022 And Early2023
CollaborationAgreementAdditionalMilestonePaymentsBetween2022AndEarly2023
1750000 USD
CY2022Q1 irtc Collaboration Agreement Milestone Payments
CollaborationAgreementMilestonePayments
0 USD
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
0 USD
CY2022Q1 us-gaap Debt Current
DebtCurrent
0 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
34917000 USD
CY2022Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
34917000 USD
CY2022Q1 irtc Operating Loss Carryforwards Tax Benefit Recognized
OperatingLossCarryforwardsTaxBenefitRecognized
0 USD
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12805857 shares
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11164880 shares
CY2022Q1 irtc Stock Issued During Period Shares Restricted Stock Award Grants In Period
StockIssuedDuringPeriodSharesRestrictedStockAwardGrantsInPeriod
129 shares
CY2022Q1 irtc Stock Issued During Period Shares Restricted Stock Award Vested
StockIssuedDuringPeriodSharesRestrictedStockAwardVested
206006 shares
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
55860 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
609881 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
40.18
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y2M26D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
120163000 USD
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
90939 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
31.15
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
14836 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
68.81
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
504106 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
40.97
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y2M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
38675000 USD
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
22114 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
48.63
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1228 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
84.54
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
480764 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
40.51
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y7D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
56232000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
475910 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
40.06
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y11M26D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
55876000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
480687 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
40.50
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y7D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
56227000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13903000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20230000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
300000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y7M6D
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-50609000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-27779000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29596325 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29596325 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29164430 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29164430 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.71
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.71
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2197984 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1765487 shares

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