iRhythm Technologies Inc (NASDAQ:IRTC) on Thursday reported first quarter 2025 revenue of $158.7 million, up 20.3% year over year, beating the consensus of $153.38 million.
The increase was driven by growth in demand for Zio services.
The company reported an adjusted EPS loss of 95 cents, down from a loss of $1.23 a year ago, beating the consensus estimate of 98 cents.
Gross profit was $109.2 million, up 24.8% from $87.5 million during the same period in 2024, while gross margin was 68.8%, up from 66.3% during the same period in 2024.
Quentin Blackford, CEO of iRhythm, noted the company’s recent commercial launch in Japan for a total of six markets outside the U.S.
On Thursday, iRhythm announced the commercial launch of its Zio long-term continuous ECG monitoring (LTCM) system, commercially introduced in Japan as the Zio ECG Recording and Analysis System.
Guidance: iRhythm projects fiscal 2025 sales guidance of $690 million-$700 million, compared to prior guidance of $675 million-$685 million and consensus of $681.56 million.
William Blair writes, “We view updates this quarter as further validation of our thesis playing out this year as Zio AT accelerates, management executes on its land and expand strategy, and the company is seeing early positive signals in adjacent opportunities.”
Price Action: IRTC stock is up 19.1% at $129.37 at the last check Friday.
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