$IRTC
iRhythm Technologies Inc

2023 Q4 Form 10-Q Financial Statement

#000138865823000148 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $132.5M $124.6M $103.9M
YoY Change 17.67% 19.96% 21.59%
Cost Of Revenue $45.09M $42.13M $32.95M
YoY Change 32.95% 27.84% 12.53%
Gross Profit $87.43M $82.47M $70.92M
YoY Change 11.08% 16.29% 26.31%
Gross Profit Margin 65.98% 66.19% 68.28%
Selling, General & Admin $98.34M $93.77M $80.56M
YoY Change 13.39% 16.4% 13.87%
% of Gross Profit 112.49% 113.69% 113.59%
Research & Development $15.42M $16.31M $11.45M
YoY Change 21.63% 42.46% 31.81%
% of Gross Profit 17.63% 19.77% 16.14%
Depreciation & Amortization $4.918M $4.100M $3.436M
YoY Change 41.53% 19.32% 34.8%
% of Gross Profit 5.63% 4.97% 4.84%
Operating Expenses $113.8M $110.1M $92.01M
YoY Change 14.44% 19.64% 15.83%
Operating Profit -$26.33M -$27.60M -$21.09M
YoY Change 27.22% 30.91% -9.43%
Interest Expense -$941.0K $927.0K -$614.0K
YoY Change -7.11% -250.98% -320.07%
% of Operating Profit
Other Income/Expense, Net $1.679M $1.600M $365.0K
YoY Change 5.86% 338.36% -580.26%
Pretax Income -$38.44M -$26.92M -$21.34M
YoY Change 91.03% 26.18% -9.74%
Income Tax $255.0K $195.0K $116.0K
% Of Pretax Income
Net Earnings -$38.70M -$27.12M -$21.45M
YoY Change 91.6% 26.41% -9.61%
Net Earnings / Revenue -29.2% -21.76% -20.65%
Basic Earnings Per Share -$0.89 -$0.71
Diluted Earnings Per Share -$1.26 -$0.89 -$713.7K
COMMON SHARES
Basic Shares Outstanding 30.65M shares 30.58M shares 30.03M shares
Diluted Shares Outstanding 30.61M shares 30.06M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.8M $158.5M $203.5M
YoY Change -37.24% -22.14% -20.73%
Cash & Equivalents $36.17M $47.48M $71.22M
Short-Term Investments $97.59M $111.0M $132.3M
Other Short-Term Assets $21.59M $12.10M $7.326M
YoY Change 104.56% 65.17% 29.87%
Inventory $13.97M $13.65M $14.45M
Prepaid Expenses
Receivables $61.48M $50.07M $60.53M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $230.8M $234.3M $285.9M
YoY Change -20.07% -18.04% -12.1%
LONG-TERM ASSETS
Property, Plant & Equipment $104.1M $96.67M $133.5M
YoY Change 37.59% -27.6% 149.91%
Goodwill $862.0K $862.0K $862.0K
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $3.000M
YoY Change
Other Assets $48.04M $47.05M $20.15M
YoY Change 115.89% 133.45% 37.52%
Total Long-Term Assets $202.3M $205.5M $154.5M
YoY Change 26.89% 32.96% -0.34%
TOTAL ASSETS
Total Short-Term Assets $230.8M $234.3M $285.9M
Total Long-Term Assets $202.3M $205.5M $154.5M
Total Assets $433.1M $439.8M $440.4M
YoY Change -3.36% -0.14% -8.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.543M $7.212M $7.404M
YoY Change -26.26% -2.59% 51.32%
Accrued Expenses $83.36M $76.63M $73.18M
YoY Change 27.28% 4.71% 37.72%
Deferred Revenue $3.300M $3.400M $3.003M
YoY Change 8.16% 13.22% 26.5%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $107.4M $102.3M $83.59M
YoY Change 20.51% 22.37% 0.98%
LONG-TERM LIABILITIES
Long-Term Debt $34.95M $34.95M $34.93M
YoY Change 0.04% 0.04% 177.16%
Other Long-Term Liabilities $1.012M $1.013M $82.64M
YoY Change -22.57% -98.77% 3298.19%
Total Long-Term Liabilities $35.96M $35.96M $117.6M
YoY Change -0.77% -69.42% 682.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $107.4M $102.3M $83.59M
Total Long-Term Liabilities $35.96M $35.96M $117.6M
Total Liabilities $223.0M $220.0M $201.2M
YoY Change 7.02% 9.35% 9.09%
SHAREHOLDERS EQUITY
Retained Earnings -$645.6M -$606.9M -$502.0M
YoY Change 23.63% 20.9% 34.39%
Common Stock $855.8M $826.7M $741.9M
YoY Change 12.25% 11.43% 10.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $210.1M $219.8M $239.2M
YoY Change
Total Liabilities & Shareholders Equity $433.1M $439.8M $440.4M
YoY Change -3.36% -0.14% -8.3%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$38.70M -$27.12M -$21.45M
YoY Change 91.6% 26.41% -9.61%
Depreciation, Depletion And Amortization $4.918M $4.100M $3.436M
YoY Change 41.53% 19.32% 34.8%
Cash From Operating Activities -$15.97M $1.200M $3.669M
YoY Change -227.0% -67.29% -79.24%
INVESTING ACTIVITIES
Capital Expenditures $13.51M $9.090M -$6.333M
YoY Change 90.53% -243.53% -52.41%
Acquisitions
YoY Change
Other Investing Activities $14.92M -$6.350M -$29.03M
YoY Change -1560.82% -78.13% -207.64%
Cash From Investing Activities $1.401M -$15.44M -$35.36M
YoY Change -117.27% -56.34% -358.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.470M 60.00K 1.662M
YoY Change 10.23% -96.39% -158.56%
NET CHANGE
Cash From Operating Activities -15.97M 1.200M 3.669M
Cash From Investing Activities 1.401M -15.44M -35.36M
Cash From Financing Activities 3.470M 60.00K 1.662M
Net Change In Cash -11.10M -14.18M -30.03M
YoY Change -245.86% -52.78% -205.38%
FREE CASH FLOW
Cash From Operating Activities -$15.97M $1.200M $3.669M
Capital Expenditures $13.51M $9.090M -$6.333M
Free Cash Flow -$29.48M -$7.890M $10.00M
YoY Change -637.75% -178.88% -67.72%

Facts In Submission

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CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
7296000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
16631000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-23897000 usd
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-230000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
244642000 usd
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
327000 usd
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
30633000 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
30633000 shares
CY2023Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
826686000 usd
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
762380000 usd
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-15000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-396000 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-606907000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-522200000 usd
CY2022Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
365000 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
450000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-26921000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
196000 usd
us-gaap Net Income Loss
NetIncomeLoss
-84707000 usd
us-gaap Net Income Loss
NetIncomeLoss
-95957000 usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.22
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30607000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30607000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30055000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30055000 shares
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4865000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
23164000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
366000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-230000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
51804000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
57882000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1885000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4375000 usd
irtc Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-4692000 usd
irtc Proceeds From Maturities Prepayments And Calls Of Marketable Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfMarketableSecurities
136500000 usd
irtc Proceeds From Maturities Prepayments And Calls Of Marketable Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfMarketableSecurities
81000000 usd
irtc Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
3000000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4306000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1662000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14469000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-21451000 usd
CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-98000 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 Stockholders Equity
StockholdersEquity
221834000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4383000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
16227000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-18482000 usd
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-39000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-44000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
223879000 usd
CY2023Q3 irtc Increase Decrease To Proposed National Payment Rates
IncreaseDecreaseToProposedNationalPaymentRates
-0.05
us-gaap Use Of Estimates
UseOfEstimates
<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%">Use of Estimates</span></div><div style="margin-top:6pt;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 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 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
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12595000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
17191000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12244000 usd
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
11659000 usd
CY2022 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
12728000 usd
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
-17000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19411000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18475000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
26273000 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
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
39060000 usd
CY2022 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
41158000 usd
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
31534000 usd
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
32072000 usd
CY2022 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
31043000 usd
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
259000 usd
CY2023Q3 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
48377000 usd
CY2022Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
41389000 usd
CY2022Q3 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
62549000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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%">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:400;line-height:120%">Credit Risk</span></div><div style="margin-top:6pt;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.
CY2023Q3 irtc Number Of Zio System Options
NumberOfZioSystemOptions
3 system_option
CY2023Q3 irtc Number Of Performance Obligations
NumberOfPerformanceObligations
2 performanceobligation
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
360170000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
298304000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3000000 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3400000 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
128478000 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
46000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
128435000 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
17440000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
110995000 usd
CY2023Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
128435000 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
irtc Assets Purchase Accounting Adjustments
AssetsPurchaseAccountingAdjustments
19400000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
110886000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35216000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75670000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3400000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9900000 usd
CY2023Q3 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
7800000 usd
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
24500000 usd
CY2023Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
38458000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
34752000 usd
CY2023Q3 us-gaap Accrued Vacation Current
AccruedVacationCurrent
10050000 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
8608000 usd
CY2023Q3 irtc Accrued Expenses Current
AccruedExpensesCurrent
13811000 usd
CY2022Q4 irtc Accrued Expenses Current
AccruedExpensesCurrent
7006000 usd
CY2023Q3 irtc Claims Payable Current
ClaimsPayableCurrent
5295000 usd
CY2022Q4 irtc Claims Payable Current
ClaimsPayableCurrent
4464000 usd
CY2023Q3 irtc Accrued State Local And Foreign Taxes
AccruedStateLocalAndForeignTaxes
3071000 usd
CY2022Q4 irtc Accrued State Local And Foreign Taxes
AccruedStateLocalAndForeignTaxes
2388000 usd
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3083000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7234000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
76631000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
65497000 usd
us-gaap Labor And Related Expense
LaborAndRelatedExpense
4000000.0 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0 usd
CY2022Q1 irtc Reduction To Leased Square Footage Percent
ReductionToLeasedSquareFootagePercent
0.50
us-gaap Asset Impairment Charges
AssetImpairmentCharges
23200000 usd
us-gaap Restructuring Charges
RestructuringCharges
3444000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
23164000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
26608000 usd
CY2023Q3 irtc Number Of Lease Facility Years
NumberOfLeaseFacilityYears
P7Y
CY2023Q3 irtc Operating Lease Rentable Area
OperatingLeaseRentableArea
8300 sqft
CY2023Q3 irtc Number Of Lease Option To Extend Periods
NumberOfLeaseOptionToExtendPeriods
1 lease_period
CY2023Q3 irtc Lease Operating Lease Option To Extend Initial Term
LeaseOperatingLeaseOptionToExtendInitialTerm
P5Y
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4600000 usd
CY2023Q3 irtc Number Of Lease Facility Years
NumberOfLeaseFacilityYears
P5Y
CY2023Q3 irtc Operating Lease Rentable Area
OperatingLeaseRentableArea
24000 sqft
CY2023Q3 irtc Number Of Lease Option To Extend Periods
NumberOfLeaseOptionToExtendPeriods
2 lease_period
CY2023Q3 irtc Lease Operating Lease Option To Extend Initial Term
LeaseOperatingLeaseOptionToExtendInitialTerm
P5Y
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2100000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5497000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21803000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
21577000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
21304000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
20873000 usd
CY2023Q3 irtc Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
38658000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
129712000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
32923000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
96789000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1800000 usd
CY2023Q3 irtc Operating Loss Carryforwards Tax Benefit Recognized
OperatingLossCarryforwardsTaxBenefitRecognized
0 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Dividends Common Stock
DividendsCommonStock
0 usd
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9782000 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10177000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
328000 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
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
53.03
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
307000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
42.32
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y7M28D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15964000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
307000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
42.32
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y7M28D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
15964000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21008000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12945000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53358000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41946000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-27116000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-21451000 usd
us-gaap Net Income Loss
NetIncomeLoss
-84707000 usd
us-gaap Net Income Loss
NetIncomeLoss
-95957000 usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30607000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30607000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30055000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30055000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30470000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30470000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29837000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29837000 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.89
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.89
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.71
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.71
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.78
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.22
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3054000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3054000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2407000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2407000 shares

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