$IRTC
iRhythm Technologies Inc

2024 Q3 Form 10-Q Financial Statement

#000138865824000143 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $147.5M $148.0M
YoY Change 18.41% 19.27%
Cost Of Revenue $46.06M $44.58M
YoY Change 9.33% 17.6%
Gross Profit $101.5M $103.5M
YoY Change 23.04% 20.0%
Gross Profit Margin 68.78% 69.89%
Selling, General & Admin $103.4M $106.8M
YoY Change 10.25% 16.78%
% of Gross Profit 101.87% 103.18%
Research & Development $15.69M $19.69M
YoY Change -3.77% 43.96%
% of Gross Profit 15.47% 19.03%
Depreciation & Amortization $5.100M $5.200M
YoY Change 24.39% 36.84%
% of Gross Profit 5.03% 5.03%
Operating Expenses $151.8M $126.5M
YoY Change 37.88% 20.32%
Operating Profit -$50.30M -$22.98M
YoY Change 82.24% 21.77%
Interest Expense $3.127M -$3.312M
YoY Change 237.32% -498.08%
% of Operating Profit
Other Income/Expense, Net $4.309M $6.380M
YoY Change 169.31% 344.6%
Pretax Income -$45.99M -$19.91M
YoY Change 70.85% 9.0%
Income Tax $188.0K $194.0K
% Of Pretax Income
Net Earnings -$46.18M -$20.11M
YoY Change 70.31% 8.79%
Net Earnings / Revenue -31.3% -13.58%
Basic Earnings Per Share -$1.48 -$0.65
Diluted Earnings Per Share -$1.48 -$0.65
COMMON SHARES
Basic Shares Outstanding 31.24M shares 31.10M shares
Diluted Shares Outstanding 31.26M shares 31.15M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $522.0M $561.5M
YoY Change 229.41% 240.82%
Cash & Equivalents $519.5M $550.6M
Short-Term Investments $2.496M $10.91M
Other Short-Term Assets $13.42M $15.11M
YoY Change 10.9% 27.9%
Inventory $15.03M $15.43M
Prepaid Expenses
Receivables $77.43M $85.51M
Other Receivables $0.00 $0.00
Total Short-Term Assets $627.9M $677.5M
YoY Change 168.0% 179.8%
LONG-TERM ASSETS
Property, Plant & Equipment $122.4M $117.6M
YoY Change 26.61% 30.86%
Goodwill $862.0K $862.0K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $3.496M
YoY Change
Other Assets $45.54M $68.05M
YoY Change -3.21% 75.74%
Total Long-Term Assets $281.8M $241.7M
YoY Change 37.13% 29.0%
TOTAL ASSETS
Total Short-Term Assets $627.9M $677.5M
Total Long-Term Assets $281.8M $241.7M
Total Assets $909.7M $919.2M
YoY Change 106.86% 114.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.593M $13.43M
YoY Change 5.28% 87.76%
Accrued Expenses $73.96M $65.94M
YoY Change -3.49% 2.28%
Deferred Revenue $3.000M $3.100M
YoY Change -11.76% -16.1%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $100.1M $97.90M
YoY Change -2.14% 9.49%
LONG-TERM LIABILITIES
Long-Term Debt $645.8M $645.0M
YoY Change 1748.05% 1745.85%
Other Long-Term Liabilities $17.98M $940.0K
YoY Change 1674.73% -7.11%
Total Long-Term Liabilities $17.98M $940.0K
YoY Change -50.0% -97.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.1M $97.90M
Total Long-Term Liabilities $17.98M $940.0K
Total Liabilities $837.9M $820.0M
YoY Change 280.92% 298.81%
SHAREHOLDERS EQUITY
Retained Earnings -$757.6M -$711.4M
YoY Change 24.82% 22.7%
Common Stock $854.4M $835.4M
YoY Change 3.35% 3.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $71.77M $99.19M
YoY Change
Total Liabilities & Shareholders Equity $909.7M $919.2M
YoY Change 106.86% 114.02%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$46.18M -$20.11M
YoY Change 70.31% 8.79%
Depreciation, Depletion And Amortization $5.100M $5.200M
YoY Change 24.39% 36.84%
Cash From Operating Activities $24.35M $11.84M
YoY Change 1928.92% -358.97%
INVESTING ACTIVITIES
Capital Expenditures $23.83M $8.488M
YoY Change 162.2% -9.67%
Acquisitions
YoY Change
Other Investing Activities -$31.50M $23.00M
YoY Change 396.06% 24.96%
Cash From Investing Activities -$55.33M $14.51M
YoY Change 258.38% 61.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.00K 3.788M
YoY Change -158.33% -13.54%
NET CHANGE
Cash From Operating Activities 24.35M 11.84M
Cash From Investing Activities -55.33M 14.51M
Cash From Financing Activities -35.00K 3.788M
Net Change In Cash -31.02M 30.14M
YoY Change 118.77% 241.8%
FREE CASH FLOW
Cash From Operating Activities $24.35M $11.84M
Capital Expenditures $23.83M $8.488M
Free Cash Flow $513.0K $3.352M
YoY Change -106.5% -124.0%

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AccretionAmortizationOfDiscountsAndPremiumsInvestments
1149000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
2211000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2484000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2749000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1330000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
8000 usd
irtc Provision For Credit Losses And Contractual Allowance
ProvisionForCreditLossesAndContractualAllowance
35486000 usd
irtc Provision For Credit Losses And Contractual Allowance
ProvisionForCreditLossesAndContractualAllowance
37486000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-7589000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Other Operating Activities Cash Flow Statement
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396000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
133000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
59516000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
38676000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1466000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-6478000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1260000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
5006000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
13471000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1637000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-160000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
644000 usd
irtc Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-3303000 usd
irtc Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-40189000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18264000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17820000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
2426000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
72851000 usd
irtc Proceeds From Maturities Prepayments And Calls Of Marketable Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfMarketableSecurities
90200000 usd
irtc Proceeds From Maturities Prepayments And Calls Of Marketable Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfMarketableSecurities
106500000 usd
irtc Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
15000000 usd
irtc Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
3000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
54510000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
12829000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
75000000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
661250000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
irtc Purchases Of Capped Calls Transactions
PurchasesOfCappedCallsTransactions
72407000 usd
irtc Purchases Of Capped Calls Transactions
PurchasesOfCappedCallsTransactions
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25000000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
5338000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
5286000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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508429000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5286000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
522737000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36173000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78832000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
558910000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61578000 usd
us-gaap Interest Paid Net
InterestPaidNet
1595000 usd
us-gaap Interest Paid Net
InterestPaidNet
1417000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
360000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
288000 usd
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-736000 usd
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-1603000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
233000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
107000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3829000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3776000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
550552000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
550552000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61578000 usd
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
8358000 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
558910000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61578000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
210097000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
604000 usd
CY2024Q1 irtc Adjustments To Additional Paid In Capital Purchase Of Capped Call Transactions
AdjustmentsToAdditionalPaidInCapitalPurchaseOfCappedCallTransactions
72407000 usd
CY2024Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25000000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22640000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-45667000 usd
CY2024Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-54000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
77000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
90290000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4734000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
24001000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-20107000 usd
CY2024Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-6000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
277000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
99189000 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
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
223879000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><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, provision for credit losses, 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>
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
8400000 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: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><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%">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. During the first quarter of 2024, the Company experienced a temporary delay in the billing of the Company's contracted and non-contracted payer customers, performed by the Company's third-party claims processing vendor. The delay was due to a cybersecurity incident experienced by Change Healthcare, a division of UnitedHealth Group, which the Company's third-party vendor engages for services relating to billing and collections. While the Company substantially cleared the billing backlog as of the end of the first quarter of 2024, the delay in billing resulted in a temporary delay in the Company's cash collections. During the second quarter of 2024, the Company received cash collections from the delayed billings, and expects further cash collections from those billings during the second half of the year. </span></div>The Company records a provision for credit losses 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.
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20289000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18475000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18475000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11309000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
17105000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9424000 usd
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
11336000 usd
CY2023 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
15291000 usd
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
8489000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20262000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20289000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19410000 usd
CY2023Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
52689000 usd
CY2022Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
41389000 usd
CY2022Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
41389000 usd
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
24177000 usd
CY2023 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
52523000 usd
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
28062000 usd
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
26278000 usd
CY2023 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
41223000 usd
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
21537000 usd
CY2024Q2 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
50588000 usd
CY2023Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
52689000 usd
CY2023Q2 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
47914000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3000000.0 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3100000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3300000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
75809000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
75806000 usd
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
64901000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
10905000 usd
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
75806000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
110128000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
59000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
110185000 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
12594000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
97591000 usd
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
110185000 usd
CY2024Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
93806000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
113185000 usd
CY2024Q2 irtc Strategic Investments
StrategicInvestments
18000000.0 usd
CY2023Q4 irtc Strategic Investments
StrategicInvestments
3000000.0 usd
CY2024Q2 irtc Fair Value Of Strategic Investment
FairValueOfStrategicInvestment
15000000 usd
CY2024Q2 irtc Fair Value Of Strategic Investment
FairValueOfStrategicInvestment
15000000 usd
CY2023Q4 irtc Strategic Investments
StrategicInvestments
3000000 usd
CY2024Q2 us-gaap Inventory Work In Process And Raw Materials Net Of Reserves
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6324000 usd
CY2023Q4 us-gaap Inventory Work In Process And Raw Materials Net Of Reserves
InventoryWorkInProcessAndRawMaterialsNetOfReserves
6299000 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9101000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7674000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
15425000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
13973000 usd
CY2024Q2 irtc Printed Circuit Board Assemblies
PrintedCircuitBoardAssemblies
42622000 usd
CY2023Q4 irtc Printed Circuit Board Assemblies
PrintedCircuitBoardAssemblies
38987000 usd
CY2024Q2 irtc Cloud Computing Arrangements
CloudComputingArrangements
6015000 usd
CY2023Q4 irtc Cloud Computing Arrangements
CloudComputingArrangements
4959000 usd
CY2024Q2 irtc Strategic Investments
StrategicInvestments
18000000 usd
CY2023Q4 irtc Strategic Investments
StrategicInvestments
3000000 usd
CY2024Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1415000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1093000 usd
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
68052000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
48039000 usd
irtc Assets Purchase Accounting Adjustments Other Assets Pcb As
AssetsPurchaseAccountingAdjustmentsOtherAssetsPCBAs
3600000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
178366000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
154617000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
60794000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
50503000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
117572000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
104114000 usd
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5200000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10300000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3800000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7400000 usd
CY2024Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
8100000 usd
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
19000000.0 usd
CY2024Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
28476000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
47656000 usd
CY2024Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
10666000 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
8608000 usd
CY2024Q2 irtc Accrued Expenses Current
AccruedExpensesCurrent
14732000 usd
CY2023Q4 irtc Accrued Expenses Current
AccruedExpensesCurrent
14891000 usd
CY2024Q2 irtc Claims Payable Current
ClaimsPayableCurrent
4127000 usd
CY2023Q4 irtc Claims Payable Current
ClaimsPayableCurrent
4578000 usd
CY2024Q2 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
537000 usd
CY2023Q4 irtc Accrued Employee Stock Purchase Plan Contribution
AccruedEmployeeStockPurchasePlanContribution
1037000 usd
CY2024Q2 irtc Accrued State Local And Foreign Taxes
AccruedStateLocalAndForeignTaxes
3464000 usd
CY2023Q4 irtc Accrued State Local And Foreign Taxes
AccruedStateLocalAndForeignTaxes
2877000 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3938000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3715000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
65940000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
83362000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7652000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
15612000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16074000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
16469000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16370000 usd
CY2024Q2 irtc Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
47093000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
119270000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
27702000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
91568000 usd
CY2024Q2 irtc Collaboration Agreement Additional Milestone Payments
CollaborationAgreementAdditionalMilestonePayments
1750000 usd
CY2024Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
644977000 usd
CY2023Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
0 usd
CY2024Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
3260000 usd
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
0 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
4348000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
0 usd
CY2024Q2 irtc Operating Loss Carryforwards Tax Benefit Recognized
OperatingLossCarryforwardsTaxBenefitRecognized
0 usd

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0001388658-24-000143.txt Edgar Link pending
0001388658-24-000143-xbrl.zip Edgar Link pending
a31amendedandrestatedcerti.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
irtc-20240630.htm Edgar Link pending
irtc-20240630.xsd Edgar Link pending
irtc-20240630xex311.htm Edgar Link pending
irtc-20240630xex312.htm Edgar Link pending
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