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iRhythm Holdings

IRTC on Nasdaq. iRhythm sells cardiac monitoring services to doctors and patients. Market value $3.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
1.1%low

For every $100 of what the whole company costs, it produced $1.10 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-45.9%five-year median

Each dollar kept in the business earns -46 cents a year. Above 10 is good.

Quality score: 34 of 100. Price score: 6 of 100. Our list needs 70 on quality and 60 on price.

$107.20 a share, 6% above its 1-year low

Over the past year the price has ranged from $100.85 to $212.00.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.1
-0.1
-0.0
0.0
0.0
2021202220232024202512 monthsto Jun '26
Revenue
$323m$411m$493m$592m$747m
Operating margin
-31.0%-27.7%-25.4%-19.5%-7.7%
Debt to equity
0.080.150.17n/an/a
Shares outstanding
0.03bn0.03bn0.03bn0.03bn0.03bn

Health checks

  • Free cash flow positive1 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)4 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • DebtUnknown
  • Revenue growth, five yearsStrong, 23.0% a year
  • Buying back its own sharesNo, 9% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $224 million last quarter, up 20% on a year ago.
  • A loss of $381,000, compared with a loss of $14 million a year ago.
  • It loses 3 cents on each $1 of sales, compared with 16 cents a year earlier.
  • Spare cash over the past 12 months: $39 million, up from $28 million.
  • 3% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$148m
December 2024$164m
March 2025$159m
June 2025$187m
September 2025$193m
December 2025$209m
March 2026$199m
June 2026$224m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$46m
December 2024-$1m
March 2025-$31m
June 2025-$14m
September 2025-$5m
December 2025$6m
March 2026-$14m
June 2026-$381,000

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
19 February 2026
Next quarterly (estimated, 10-Q)
5 November 2026

Who owns it

None of the long-term investors we follow own it. 304 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $56,892 of shares on the open market. 12 sold $30m, $4m of it under preset trading plans.

  • Wilson Daniel G.
    Chief Financial Officer
    Sold
    Date
    2 September 2026
    Shares
    773
    Price
    $121.83
    Value
    $94,175
  • Turakhia Minang
    CHIEF MED/SCI OFCR EVP ADVTECH
    Sold
    Date
    10 August 2026
    Shares
    7,093
    Price
    $124.65
    Value
    $884,151
  • Shrishrimal Sumi
    EVP, Chief Risk Officer
    Sold
    Date
    10 August 2026
    Shares
    5,372
    Price
    $124.65
    Value
    $669,641
  • Patterson Chad
    CHIEF COMM & PRODUCT OFFICER
    Sold
    Date
    10 August 2026
    Shares
    7,093
    Price
    $124.65
    Value
    $884,170
  • Murphy Patrick Michael
    CBO and CLO
    Sold
    Date
    10 August 2026
    Shares
    7,093
    Price
    $124.65
    Value
    $884,156
  • Blackford Quentin S.
    President and CEO, Director
    Sold
    Date
    10 August 2026
    Shares
    26,859
    Price
    $124.65
    Value
    $3m
  • Rodda Julianne
    EVP, CHIEF PEOPLE OFFICER
    Sold
    Date
    3 August 2026
    Shares
    2,112
    Price
    $122.12
    Value
    $257,919
  • Smith Mervin
    EVP Strategic Business Ops
    Sold
    Date
    3 August 2026
    Shares
    617
    Price
    $122.12
    Value
    $75,349
  • Patterson Chad
    CHIEF COMM & PRODUCT OFFICER
    Sold
    Date
    3 August 2026
    Shares
    2,712
    Price
    $122.12
    Value
    $331,192
  • Freeman Sean Clinton
    EVP, Strategy & Corp Devt
    Sold
    Date
    2 July 2026
    Shares
    918
    Price
    $124.71
    Value
    $114,484

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 10 later 8-Ks.

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “On March 30, 2026, the Audit Committee of the Board of Directors (the “Audit Committee”) of iRhythm Holdings, Inc. (the “Company”) dismissed PricewaterhouseCoopers LLP (“PwC”) as the Company’s independent registered public accounting firm.”

    From an 8-K filed 1 April 2026: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.