iRhythm Technologies Inc. (IRTC) Financial Statements (2024 and earlier)

Company Profile

Business Address 699 8TH STREET
SAN FRANCISCO, CA 94103
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3841 - Surgical and Medical Instruments and Apparatus (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:110,185158,575239,131335,217140,55178,343
Cash and cash equivalents   127,56288,62820,46220,023
Short-term investments97,591134,312111,569246,589120,08958,320
Other undisclosed cash, cash equivalents, and short-term investments12,59424,263    
Receivables61,48449,91846,43029,93223,86721,977
Inventory, net of allowances, customer advances and progress billings13,97315,15510,2685,3134,0372,062
Inventory13,97315,15510,2685,3134,0372,062
Other undisclosed current assets45,17065,1249,6937,3634,3374,100
Total current assets:230,812288,772305,522377,825172,792106,482
Noncurrent Assets
Operating lease, right-of-use asset49,31760,66684,58784,71490,124
Property, plant and equipment104,11475,67055,94434,24726,4649,158
Long-term investments and receivables     8,030 
Long-term investments     8,030 
Intangible assets, net (including goodwill)862862862862862862
Goodwill862862862862862862
Restricted cash and investments      
Other noncurrent assets48,03922,25216,05214,0917,9403,208
Total noncurrent assets:202,332159,450157,445133,914133,42013,228
TOTAL ASSETS:433,144448,222462,967511,739306,212119,710
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities88,90573,01461,99544,89740,95728,993
Interest and dividends payable  128139
Accounts payable5,5437,51710,5094,3658,2432,284
Accrued liabilities83,36265,49751,48640,53232,58626,570
Deferred revenue3,3063,0513,0499301,251
Debt   11,66711,6671,944 
Contract with customer, liability1,243
Other undisclosed current liabilities15,15913,03111,1428,1717,914 
Total current liabilities:107,37089,09687,85365,66552,06630,236
Noncurrent Liabilities
Long-term debt and lease obligation34,95034,93585,21281,29385,74834,899
Long-term debt, excluding current maturities34,95034,935   34,899
Liabilities, other than long-term debt80,72784,3796971,830 153
Deferred rent credit      153
Other liabilities1,0121,3076971,830  
Operating lease, liability79,71583,07285,21281,29385,748
Other undisclosed noncurrent liabilities   9,69021,33932,989 
Total noncurrent liabilities:115,677119,31495,599104,462118,73735,052
Total liabilities:223,047208,410183,452170,127170,80365,288
Equity
Equity, attributable to parent210,097239,812279,515341,612135,40954,422
Common stock312827272523
Treasury stock, value      
Additional paid in capital855,784762,380685,594646,258395,695257,955
Accumulated other comprehensive income (loss)(112)(396)(61)1182(41)
Accumulated deficit(645,606)(522,200)(406,045)(304,684)(260,393)(203,515)
Total equity:210,097239,812279,515341,612135,40954,422
TOTAL LIABILITIES AND EQUITY:433,144448,222462,967511,739306,212119,710

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues492,681410,921322,825265,166214,552147,293
Cost of revenue(160,875)(129,289)(109,258)(70,277)(52,485)(38,579)
Gross profit:331,806281,632213,567194,889162,067108,714
Operating expenses(456,967)(395,416)(313,510)(238,562)(216,822)(152,332)
Operating loss:(125,161)(113,784)(99,943)(43,673)(54,755)(43,618)
Nonoperating income
(Other Nonoperating income)
6,1552,0361181,5911,8951,526
Interest and debt expense(3,650)(4,138)(1,169)(1,519)(1,643)(6,144)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Loss from continuing operations before equity method investments, income taxes:(122,656)(115,886)(100,994)(43,601)(54,503)(48,236)
Other undisclosed loss from continuing operations before income taxes      
Loss from continuing operations before income taxes:(122,656)(115,886)(100,994)(43,601)(54,503)(48,236)
Income tax expense(750)(269)(367)(229)(65)(44)
Loss from continuing operations:(123,406)(116,155)(101,361)(43,830)(54,568)(48,280)
Loss before gain (loss) on sale of properties:(101,361)(43,830)(54,568)(48,280)
Net loss available to common stockholders, diluted:(123,406)(116,155)(101,361)(43,830)(54,568)(48,280)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(123,406)(116,155)(101,361)(43,830)(54,568)(48,280)
Comprehensive loss:(123,406)(116,155)(101,361)(43,830)(54,568)(48,280)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent284(335)(72)(71)9824
Comprehensive loss, net of tax, attributable to parent:(123,122)(116,490)(101,433)(43,901)(54,470)(48,256)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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