$IRTC
iRhythm Technologies Inc

2019 Q2 Form 10-Q Financial Statement

#000156459019028872 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $52.44M $35.29M
YoY Change 48.59% 47.95%
Cost Of Revenue $13.01M $9.486M
YoY Change 37.17% 40.74%
Gross Profit $39.43M $25.81M
YoY Change 52.79% 50.82%
Gross Profit Margin 75.19% 73.12%
Selling, General & Admin $42.16M $33.94M
YoY Change 24.22% 67.56%
% of Gross Profit 106.93% 131.52%
Research & Development $7.833M $4.647M
YoY Change 68.56% 67.4%
% of Gross Profit 19.87% 18.01%
Depreciation & Amortization $690.0K $560.0K
YoY Change 23.21% 64.71%
% of Gross Profit 1.75% 2.17%
Operating Expenses $49.99M $38.59M
YoY Change 29.56% 67.54%
Operating Profit -$10.57M -$12.78M
YoY Change -17.34% 115.86%
Interest Expense $440.0K $861.0K
YoY Change -48.9% 2.62%
% of Operating Profit
Other Income/Expense, Net $295.0K $338.0K
YoY Change -12.72% 6.96%
Pretax Income -$10.71M -$12.21M
YoY Change -12.26% 89.53%
Income Tax $15.00K $0.00
% Of Pretax Income
Net Earnings -$10.73M -$13.30M
YoY Change -19.39% 106.46%
Net Earnings / Revenue -20.45% -37.7%
Basic Earnings Per Share
Diluted Earnings Per Share -$434.1K -$514.1K
COMMON SHARES
Basic Shares Outstanding 24.69M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.22M $85.92M
YoY Change -31.07% -21.75%
Cash & Equivalents $15.98M $19.24M
Short-Term Investments $43.24M $66.68M
Other Short-Term Assets $3.700M $2.500M
YoY Change 48.0% 31.58%
Inventory $2.774M $2.200M
Prepaid Expenses
Receivables $26.69M $18.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $92.22M $108.6M
YoY Change -15.08% -12.28%
LONG-TERM ASSETS
Property, Plant & Equipment $13.44M $7.594M
YoY Change 77.03% 22.48%
Goodwill $862.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $4.497M $2.800M
YoY Change 60.61% -20.0%
Total Long-Term Assets $113.0M $11.30M
YoY Change 900.76% 6.57%
TOTAL ASSETS
Total Short-Term Assets $92.22M $108.6M
Total Long-Term Assets $113.0M $11.30M
Total Assets $205.3M $119.9M
YoY Change 71.21% -10.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.628M $2.700M
YoY Change 34.37% 0.0%
Accrued Expenses $23.36M $16.60M
YoY Change 40.78% 58.05%
Deferred Revenue $1.081M $642.0K
YoY Change 68.38%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $35.37M $19.90M
YoY Change 77.78% 30.89%
LONG-TERM LIABILITIES
Long-Term Debt $34.93M $32.60M
YoY Change 7.14% 3.16%
Other Long-Term Liabilities $88.10M $200.0K
YoY Change 43950.0% 100.0%
Total Long-Term Liabilities $34.93M $32.80M
YoY Change 6.48% 3.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.37M $19.90M
Total Long-Term Liabilities $34.93M $32.80M
Total Liabilities $158.5M $52.69M
YoY Change 200.83% 12.11%
SHAREHOLDERS EQUITY
Retained Earnings -$224.8M -$179.8M
YoY Change 25.01%
Common Stock $271.5M $247.1M
YoY Change 9.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.75M $67.20M
YoY Change
Total Liabilities & Shareholders Equity $205.3M $119.9M
YoY Change 71.21% -10.8%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$10.73M -$13.30M
YoY Change -19.39% 106.46%
Depreciation, Depletion And Amortization $690.0K $560.0K
YoY Change 23.21% 64.71%
Cash From Operating Activities $1.020M -$6.360M
YoY Change -116.04% 536.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.570M -$1.120M
YoY Change 218.75% 17.89%
Acquisitions
YoY Change
Other Investing Activities -$12.51M $7.820M
YoY Change -259.97% 2596.55%
Cash From Investing Activities -$16.08M $6.700M
YoY Change -340.0% -1130.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.950M 2.430M
YoY Change 21.4% 4.74%
NET CHANGE
Cash From Operating Activities 1.020M -6.360M
Cash From Investing Activities -16.08M 6.700M
Cash From Financing Activities 2.950M 2.430M
Net Change In Cash -12.11M 2.770M
YoY Change -537.18% 313.43%
FREE CASH FLOW
Cash From Operating Activities $1.020M -$6.360M
Capital Expenditures -$3.570M -$1.120M
Free Cash Flow $4.590M -$5.240M
YoY Change -187.6% 10380.0%

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3869000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10570000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20023000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8671000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16154000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19241000
us-gaap Interest Paid Net
InterestPaidNet
836000
us-gaap Interest Paid Net
InterestPaidNet
1748000
irtc Property Plant And Equipment Costs Included In Liabilities
PropertyPlantAndEquipmentCostsIncludedInLiabilities
284000
irtc Property Plant And Equipment Costs Included In Liabilities
PropertyPlantAndEquipmentCostsIncludedInLiabilities
218000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
48608000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
68467000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4851000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3568000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3358000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5826000
irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
-3537000
CY2018 irtc Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveriesAndOtherAdjustments
-4543000
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4672000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4851000
CY2018Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
10601000
CY2017Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
7444000
irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
7325000
CY2018 irtc Accounts Receivable Allowance For Contractual Adjustments
AccountsReceivableAllowanceForContractualAdjustments
9392000
irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
3557000
CY2018 irtc Accounts Receivable Contractual Adjustments
AccountsReceivableContractualAdjustments
6235000
CY2019Q2 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
14369000
CY2018Q4 irtc Accounts Receivable For Contractual Allowance
AccountsReceivableForContractualAllowance
10601000
CY2019Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
48178000
CY2018Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
37429000
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4672000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4851000
CY2019Q2 irtc Accounts Receivable Excluding Contractual Allowance Current
AccountsReceivableExcludingContractualAllowanceCurrent
14369000
CY2018Q4 irtc Accounts Receivable Excluding Contractual Allowance Current
AccountsReceivableExcludingContractualAllowanceCurrent
10601000
CY2019Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
29137000
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
21977000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentrations of Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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, cash equivalents, and investments are deposited in financial institutions which, at times may be in excess of federally insured limits. Cash equivalents are invested in highly rated money market funds. The Company invests in a variety of financial instruments, such as, but not limited to, United States Government securities, corporate notes, commercial paper and, by policy, limits the amount of credit exposure with any one financial institution or commercial issuer. The Company has not experienced any material losses on its deposits of cash and cash equivalents or investments.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 when it becomes probable that a receivable will not be collected. Federal government agencies, including <span style="color:#000000;">Centers for Medicare and Medicaid Services (“</span>CMS”) and the military, accounted for approximately 36% and 36% of the Company’s revenue for the three and six months ended June 30, 2019, respectively and 38% and 38%, of the Company’s revenue for the three and six months ended June 30, 2018. Accounts receivable related to federal government agencies accounted for 21% and 18% at June 30, 2019 and December 31, 2018, respectively.</p>
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53331000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
100545000
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000
irtc Number Of Embedded Leases With Suppliers
NumberOfEmbeddedLeasesWithSuppliers
0
CY2019Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
0
CY2019Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
52953000
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
35000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
52988000
CY2019Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
9748000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
19000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
43240000
CY2019Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
52988000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
73427000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73411000
CY2018Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
15091000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
58320000
CY2018Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
73411000
irtc Available For Sale Debt Securities Maturity Period
AvailableForSaleDebtSecuritiesMaturityPeriod
P93D
CY2019Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
0
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2019Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
52988000
CY2018Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
73411000
CY2019Q2 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
52988000
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
73411000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
52988000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73411000
CY2019Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
0
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
17498000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
11000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
2993000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
8000
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
20491000
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
19000
CY2019Q2 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
6517000
CY2018Q4 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
4593000
CY2019Q2 us-gaap Inventory Net
InventoryNet
2774000
CY2018Q4 us-gaap Inventory Net
InventoryNet
2062000
CY2019Q2 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
6517000
CY2018Q4 irtc Inventory And Printed Circuit Board Assemblies
InventoryAndPrintedCircuitBoardAssemblies
4593000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19140000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14388000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6522000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5230000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12618000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9158000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
700000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1300000
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
600000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1100000
CY2019Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
3646000
CY2018Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
2825000
CY2019Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
13338000
CY2018Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
18188000
CY2019Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
895000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1243000
CY2019Q2 irtc Claims Payable Current
ClaimsPayableCurrent
3220000
CY2018Q4 irtc Claims Payable Current
ClaimsPayableCurrent
2374000
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2205000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1940000
CY2019Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23304000
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
26570000
us-gaap Operating Lease Cost
OperatingLeaseCost
4100000
us-gaap Operating Lease Payments
OperatingLeasePayments
2800000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y10M24D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0733
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1743000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11757000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11760000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11317000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
11639000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
100764000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
148980000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
53490000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
95490000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
8135000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
10669000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
10828000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
11150000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
11483000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
98209000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
150474000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019Q2 irtc Operating Loss Carryforwards Tax Benefit Recognized
OperatingLossCarryforwardsTaxBenefitRecognized
0
CY2019Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
0
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
38.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
30.80
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2019Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9369724
CY2018Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
8253899
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2601181
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.24
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
113958000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
366928
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
68.32
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
798424
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.19
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
75548
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
34.30
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2094137
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.20
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
97976000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20010
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
82.77
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
357321
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
9.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
41437
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
54.96
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1715389
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.06
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
91452000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1173390
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
15.74
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
74322000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1687960
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
25.57
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
90783000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.450
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.462
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.450
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.459
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0236
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0277
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0239
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0272
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7330000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4076000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11745000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7323000
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
11700000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-11467000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-12206000
us-gaap Net Income Loss
NetIncomeLoss
-19486000
us-gaap Net Income Loss
NetIncomeLoss
-23323000
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24724808
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23747131
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24600250
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23614281
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.51
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.79
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.99
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2606650
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2965240

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