iRhythm (NASDAQ: IRTC) is a publicly traded Health & Biometric Sensing company founded in 2006 and based in San Francisco, United States.
| Date | Stage | Amount | Valuation | Lead investors |
|---|---|---|---|---|
| Oct 20, 2016 | IPO | — | — | — |
iRhythm reported Q2 2026 revenue of $224.2 million, up 20.1% year-over-year, driven by sustained volume demand across core Zio services and newer growth channels including primary care. Gross margin expanded 160 basis points to 72.8%, reflecting operational efficiencies and scale benefits. GAAP net loss narrowed to $0.4 million from a $14.2 million loss in Q2 2025, while adjusted net income reached $19.3 million ($0.58 per share) versus an adjusted loss of $10.2 million ($-0.32 per share) year-ago. Adjusted EBITDA improved $27.6 million to $43.3 million (19.3% margin). Operationally, iRhythm achieved FDA clearance of a third-generation algorithm expected to reduce clinician review time by ~50% and drive $100 million in cumulative cost savings over five years. The company announced a definitive agreement to acquire VitalConnect for ~$287.5 million to expand into complementary ambulatory cardiac monitoring. Full-year 2026 guidance raised to $880–890 million revenue and 13.0–14.0% adjusted EBITDA margin.
Full-year 2026 revenue $880–890 million; adjusted EBITDA margin 13.0–14.0%
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The Zio System is iRhythm's flagship ambulatory cardiac monitoring solution, combining an FDA-cleared, CE-marked wire-free, patch-based wearable biosensor with proprietary cloud-based analytics. The Zio patch is worn on the chest for up to 14 days, continuously recording single-lead ECG data while the patient goes about daily life. After wear, the recording is analyzed by iRhythm's deep-learning algorithms and curated by technicians into a report that helps physicians diagnose arrhythmias such as atrial fibrillation. The Zio AT variant adds near-real-time transmission so clinically significant events can be flagged during the wear period.
iRhythm's cloud platform ingests the continuous ECG captured by Zio patches and applies FDA-cleared deep-learning algorithms to detect and classify cardiac arrhythmias across the full multi-day recording. The system combines automated analysis with technician review to produce comprehensive diagnostic reports for cardiologists and primary-care physicians, surfacing burden and patterns that shorter Holter monitors often miss. Having processed millions of patient recordings, the platform forms the recurring, data-driven core of iRhythm's business, turning each disposable wearable sensor into a billable diagnostic service.
17 patents on file, but none with both an extractable figure and an abstract on Google Patents yet.
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