Sales beat expectations; regulatory remediation on track
iRhythm (Nasdaq: IRTC) shares surged 8% following better-than-expected Q4 results and progress in addressing FDA compliance concerns.
Key Financials
- Q4 revenue: $164.3M (+24% YoY)
- Net loss: $1.3M (4¢ per share), a major improvement from $38.7M loss last year
- EPS: Beat Wall Street expectations by 20¢
- 2025 revenue outlook: $675M–$685M
Growth Drivers & FDA Remediation
- Record new account onboarding, especially in primary care settings
- Sales boost from a competitor’s market disruption
- Steady progress on FDA warning letter resolution:
- Cleared design changes for Zio AT in late 2024
- Plans to complete compliance efforts by mid-2025
Analyst Take
BTIG analysts maintain a “Buy” rating, citing sustained growth, product differentiation, and regulatory progress.
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