GlobeNewswire·Aug 6, 2026, 4:05 PM ET

iRhythm Holdings Announces Second Quarter 2026 Financial Results

IRTC

iRhythm Holdings reported second quarter 2026 revenue of $224.2 million, representing a 20.1% increase from the same period in 2025.
Gross margin reached 72.8%, an increase of 160 basis points compared to the second quarter of 2025.
The company recorded a GAAP net loss of $0.4 million for the quarter, a significant improvement of $13.8 million from the prior year period.
Adjusted EBITDA was $43.3 million with a margin of 19.3%, improving by $27.6 million and 1,090 basis points respectively compared to the second quarter of 2025.
Unrestricted cash, cash equivalents, and marketable securities totaled $591.3 million as of June 30, 2026.
iRhythm increased its full-year 2026 revenue guidance to a range of $880 million to $890 million and adjusted EBITDA margin guidance to 13.0% to 14.0%.
The company entered a definitive agreement to acquire Vital Connect, Inc. for approximately $287.5 million to expand its cardiac monitoring platform.
FDA clearance was achieved for a third-generation algorithm expected to reduce clinician review time by approximately 50% and generate $100 million in cumulative cost savings over five years.
iRhythm expanded its Predictive Arrhythmia Solutions footprint with Desert Oasis Health Care to enable earlier patient identification through AI-driven analytics.
The company was recognized by Newsweek in 2026 as one of America's Greatest Workplaces for Leadership and among the World's Greenest Companies.
Operating expenses for the quarter were $165.7 million, while adjusted operating expenses decreased slightly to $145.0 million compared to $145.2 million in the prior year period.
Adjusted net income for the second quarter 2026 was $19.3 million, or $0.58 per diluted share, compared to an adjusted net loss of $10.2 million in the same period of 2025.
Free cash flow for the three months ended June 30, 2026, was $37.5 million.