$IRTC
iRhythm Technologies Inc

2023 Q2 Form 10-Q Financial Statement

#000138865823000051 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $124.1M $111.4M $92.38M
YoY Change 21.64% 20.63% 24.31%
Cost Of Revenue $37.91M $35.76M $30.62M
YoY Change 19.18% 16.77% 30.53%
Gross Profit $86.23M $75.68M $61.76M
YoY Change 22.75% 22.54% 21.45%
Gross Profit Margin 69.46% 67.91% 66.85%
Selling, General & Admin $91.42M $100.3M $73.16M
YoY Change 11.83% 37.16% 4.79%
% of Gross Profit 106.02% 132.59% 118.46%
Research & Development $13.68M $14.84M $10.54M
YoY Change 14.5% 40.79% 23.88%
% of Gross Profit 15.86% 19.61% 17.07%
Depreciation & Amortization $3.800M $3.600M $3.143M
YoY Change 13.4% 14.54% 54.07%
% of Gross Profit 4.41% 4.76% 5.09%
Operating Expenses $105.1M $115.2M $110.3M
YoY Change 12.17% 4.42% 40.84%
Operating Profit -$18.87M -$39.50M -$48.55M
YoY Change -19.53% -18.63% 76.73%
Interest Expense $832.0K $950.0K $2.029M
YoY Change 72.61% -53.18% 505.67%
% of Operating Profit
Other Income/Expense, Net $1.435M $1.432M $16.00K
YoY Change 1979.71% 8850.0% -87.1%
Pretax Income -$18.27M -$39.02M -$50.56M
YoY Change -23.45% -22.82% 82.66%
Income Tax $213.0K $87.00K $47.00K
% Of Pretax Income
Net Earnings -$18.48M -$39.11M -$50.61M
YoY Change -22.66% -22.72% 82.18%
Net Earnings / Revenue -14.89% -35.1% -54.78%
Basic Earnings Per Share -$0.61 -$1.29 -$1.71
Diluted Earnings Per Share -$0.61 -$1.29 -$1.71
COMMON SHARES
Basic Shares Outstanding 30.47M shares 30.22M shares 29.60M shares
Diluted Shares Outstanding 30.50M shares 30.30M shares 29.60M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $164.7M $176.3M $208.8M
YoY Change -19.44% -15.54% -20.4%
Cash & Equivalents $61.58M $52.80M $94.79M
Short-Term Investments $103.2M $123.5M $114.0M
Other Short-Term Assets $11.82M $11.61M $9.838M
YoY Change 38.59% 17.99% 40.54%
Inventory $14.48M $16.39M $12.45M
Prepaid Expenses
Receivables $51.11M $49.56M $55.29M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $242.1M $253.9M $286.4M
YoY Change -14.98% -11.34% -14.8%
LONG-TERM ASSETS
Property, Plant & Equipment $89.85M $82.21M $57.14M
YoY Change 36.29% 43.88% 52.58%
Goodwill $862.0K $862.0K $862.0K
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $38.72M $25.44M $19.11M
YoY Change 92.25% 33.12% 28.55%
Total Long-Term Assets $187.3M $167.8M $142.4M
YoY Change 24.18% 17.88% -0.01%
TOTAL ASSETS
Total Short-Term Assets $242.1M $253.9M $286.4M
Total Long-Term Assets $187.3M $167.8M $142.4M
Total Assets $429.5M $421.7M $428.7M
YoY Change -1.42% -1.64% -10.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.150M $9.778M $5.413M
YoY Change 19.43% 80.64% 5.07%
Accrued Expenses $64.47M $54.61M $41.94M
YoY Change 29.06% 30.22% 15.65%
Deferred Revenue $3.695M $3.486M $2.933M
YoY Change 24.12% 18.85% 105.82%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $89.41M $81.90M $61.78M
YoY Change 26.98% 32.57% 4.04%
LONG-TERM LIABILITIES
Long-Term Debt $34.94M $34.94M $34.92M
YoY Change 0.04% 0.06% 89.49%
Other Long-Term Liabilities $1.012M $1.013M $832.0K
YoY Change 6.3% 21.75% -54.68%
Total Long-Term Liabilities $35.95M $35.95M $35.75M
YoY Change 0.21% 0.57% 76.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.41M $81.90M $61.78M
Total Long-Term Liabilities $35.95M $35.95M $35.75M
Total Liabilities $205.6M $199.9M $183.9M
YoY Change 7.62% 8.7% 8.86%
SHAREHOLDERS EQUITY
Retained Earnings -$579.8M -$561.3M -$456.7M
YoY Change 20.65% 22.92% 37.35%
Common Stock $803.8M $783.2M $701.8M
YoY Change 10.75% 11.59% 9.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $223.9M $221.8M $244.8M
YoY Change
Total Liabilities & Shareholders Equity $429.5M $421.7M $428.7M
YoY Change -1.42% -1.64% -10.4%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$18.48M -$39.11M -$50.61M
YoY Change -22.66% -22.72% 82.18%
Depreciation, Depletion And Amortization $3.800M $3.600M $3.143M
YoY Change 13.4% 14.54% 54.07%
Cash From Operating Activities -$4.572M -$30.75M -$38.89M
YoY Change 1129.03% -20.91% -7.07%
INVESTING ACTIVITIES
Capital Expenditures $9.397M $8.423M $5.572M
YoY Change -186.75% 51.17% 32.32%
Acquisitions
YoY Change
Other Investing Activities $18.41M $12.24M -$2.955M
YoY Change 76.96% -514.31% -102.44%
Cash From Investing Activities $9.009M $3.820M -$8.527M
YoY Change -2190.26% -144.8% -107.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $21.39M
YoY Change -100.0% 633.25%
Cash From Financing Activities 4.381M $905.0K $14.64M
YoY Change -39.74% -93.82% -155.34%
NET CHANGE
Cash From Operating Activities -4.572M -$30.75M -$38.89M
Cash From Investing Activities 9.009M $3.820M -$8.527M
Cash From Financing Activities 4.381M $905.0K $14.64M
Net Change In Cash 8.818M -$26.03M -$32.78M
YoY Change 36.35% -20.59% -167.24%
FREE CASH FLOW
Cash From Operating Activities -$4.572M -$30.75M -$38.89M
Capital Expenditures $9.397M $8.423M $5.572M
Free Cash Flow -$13.97M -$39.18M -$44.46M
YoY Change -233.55% -11.88% -3.47%

Facts In Submission

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CY2022Q1 irtc Increase Decrease In Operating Lease Liabilities
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-6175000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-30753000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-38885000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8423000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5572000 usd
CY2023Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
33757000 usd
CY2022Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
45974000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0 usd
CY2022Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
15019000 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
46000000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
28000000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3820000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8527000 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
21389000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
35000000 usd
CY2023Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
905000 usd
CY2022Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1076000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
51000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
905000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14636000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26028000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-32776000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78832000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127562000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52804000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94786000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
678000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1967000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023Q1 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-1603000 usd
CY2022Q1 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
0 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
203000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
225000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7666000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1648000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1250000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
239812000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
905000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19899000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-39109000 usd
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
327000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
221834000 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 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
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;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%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the unaudited condensed 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 periods presented. 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 ("ROU") assets, and various inputs used in estimating stock-based compensation. Actual results may differ from those estimates.</span></div>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18475000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14012000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14012000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5326000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
17191000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4413000 usd
CY2023Q1 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
4726000 usd
CY2022 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
12728000 usd
CY2022Q1 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
60000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19075000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18475000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18365000 usd
CY2022Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
41389000 usd
CY2021Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
31274000 usd
CY2021Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
31274000 usd
CY2023Q1 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
16099000 usd
CY2022 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
41158000 usd
CY2022Q1 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
9609000 usd
CY2023Q1 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
9457000 usd
CY2022 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
31043000 usd
CY2022Q1 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
26000 usd
CY2023Q1 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
48031000 usd
CY2022Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
41389000 usd
CY2022Q1 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
40857000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;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:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Credit Risk</span></div><div style="margin-top:12pt;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.
CY2023Q1 irtc Number Of Zio System Options
NumberOfZioSystemOptions
3 systemoption
CY2023Q1 irtc Number Of Performance Obligations
NumberOfPerformanceObligations
2 performanceobligation
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
111436000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
92378000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2700000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2700000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
130447000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
65000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
134000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
130378000 usd
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
6845000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
123533000 usd
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
130378000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
158972000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
12000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
409000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
158575000 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
24263000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
134312000 usd
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
158575000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3100000 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
130378000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
158575000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
9253000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
9338000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7135000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
5817000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
16388000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
15155000 usd
CY2023Q1 irtc Printed Circuit Board Assemblies
PrintedCircuitBoardAssemblies
21545000 usd
CY2022Q4 irtc Printed Circuit Board Assemblies
PrintedCircuitBoardAssemblies
18599000 usd
CY2023Q1 irtc Cloud Computing Arrangements
CloudComputingArrangements
2611000 usd
CY2022Q4 irtc Cloud Computing Arrangements
CloudComputingArrangements
2523000 usd
CY2023Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1284000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1130000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25440000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
22252000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
121000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
110886000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
38792000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35216000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
82208000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75670000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3600000 usd
CY2023Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
23696000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
34752000 usd
CY2023Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
9484000 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
8608000 usd
CY2023Q1 irtc Accrued Expenses Current
AccruedExpensesCurrent
8186000 usd
CY2022Q4 irtc Accrued Expenses Current
AccruedExpensesCurrent
7006000 usd
CY2023Q1 irtc Claims Payable Current
ClaimsPayableCurrent
4648000 usd
CY2022Q4 irtc Claims Payable Current
ClaimsPayableCurrent
4464000 usd
CY2023Q1 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
3068000 usd
CY2022Q4 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
1045000 usd
CY2023Q1 irtc Accrued State Local And Foreign Taxes
AccruedStateLocalAndForeignTaxes
2939000 usd
CY2022Q4 irtc Accrued State Local And Foreign Taxes
AccruedStateLocalAndForeignTaxes
2388000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2586000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7234000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
54607000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
65497000 usd
CY2023Q1 us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
5700000 usd
CY2023Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
2100000 usd
CY2023Q1 us-gaap Professional Fees
ProfessionalFees
900000 usd
CY2022Q1 irtc Reduction To Leased Square Footage Percent
ReductionToLeasedSquareFootagePercent
0.50
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
23200000 usd
CY2022Q1 us-gaap Restructuring Charges
RestructuringCharges
3444000 usd
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
23164000 usd
CY2022Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
26608000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15609000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
20586000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20379000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
20131000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
19731000 usd
CY2023Q1 irtc Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
34392000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
130828000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
34784000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
96044000 usd
CY2023Q1 irtc Collaboration Agreement Additional Milestone Payments Between2022 And Early2023
CollaborationAgreementAdditionalMilestonePaymentsBetween2022AndEarly2023
1750000 usd
CY2023Q1 irtc Collaboration Agreement Milestones Achieved
CollaborationAgreementMilestonesAchieved
0 milestone
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1800000 usd
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
8400000 usd
CY2023Q1 irtc Operating Loss Carryforwards Tax Benefit Recognized
OperatingLossCarryforwardsTaxBenefitRecognized
0 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
0 usd
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9906713 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10176585 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
328193 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
43.00
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y5M4D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16635000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
16696 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
54.06
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
311497 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
42.41
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M28D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
25425000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
311497 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
42.41
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M28D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
25425000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18251000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13903000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-39109000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-50609000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30297000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30297000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29596000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29596000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.29
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.29
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.71
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.71
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2834000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2198000 shares

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0001388658-23-000051-index.html Edgar Link pending
0001388658-23-000051.txt Edgar Link pending
0001388658-23-000051-xbrl.zip Edgar Link pending
ex101douglasdevine-resigna.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
irtc-20230331.htm Edgar Link pending
irtc-20230331.xsd Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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irtc-20230331_def.xml Edgar Link unprocessable
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irtc-20230331_htm.xml Edgar Link completed
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