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iRhythm Technologies

Wearable cardiac monitoring with data analysis

Overview

iRhythm Technologies develops cardiac monitoring technology centered on the Zio Patch, a wearable device that records heart rhythms for up to 14 days. The patch is worn by patients to collect continuous heart data, which iRhythm analyzes and interprets to provide diagnostic insights to clinicians without frequent in-person visits. Compared with rivals, the Zio Patch focuses on long-duration, non-intrusive monitoring combined with integrated data analysis that supports telehealth and clinician workflows. Its goal is to improve arrhythmia detection and diagnostic accuracy while streamlining patient care through scalable wearable monitoring and data interpretation.

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About iRhythm Technologies

Simplify's Rating
Why iRhythm Technologies is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Data & AnalyticsHardwareEnterprise SoftwareHealthcare

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

San Francisco, California

Founded

2006

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Simplify's Take

What believers are saying

  • Q2 2026 revenue hit $224.2 million, up 20.1%, with 19.3% EBITDA margin.
  • Management raised 2026 revenue guidance to $880 million-$890 million on August 6, 2026.
  • VitalConnect's $65 million run-rate expands iRhythm into MCT and inpatient channels.

What critics are saying

  • June 8, 2026 breach exposed PHI; class actions filed in Northern California.
  • FDA warning letter on Zio AT remains open, delaying full regulatory normalization.
  • Baxter settlement cost $50 million; VitalConnect integration risk starts before 2027 synergies.

What makes iRhythm Technologies unique

  • Zio integrates wearables, AI review, and cloud workflows across ambulatory cardiac monitoring.
  • August 6, 2026 VitalConnect adds 30-day MCT and hospital-to-home monitoring.
  • iRhythm serves 8 million patients, giving unmatched installed trust and clinical data scale.

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Funding

Total Funding

$1.1B

Above

Industry Average

Funded Over

13 Rounds

Post IPO Convertible funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Convertible Funding Comparison Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Health Savings Account/Flexible Spending Account

Unlimited Paid Time Off

Paid Vacation

Paid Holidays

401(k) Retirement Plan

401(k) Company Match

Employee Stock Purchase Plan

Mental Health Support

Hybrid Work Options

Pet Insurance

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
ISS Source
Oct 9th, 2026
After ransomware attack, medical device maker alerting victims.

After ransomware attack, medical device maker alerting victims. Oct 9, 2026 | News By Gregory Hale San Francisco, California-based medical device maker, iRhythm Holdings, Inc., suffered a ransomware attack in June and is now informing victims of the attack. "On June 8, 2026, iRhythm Holdings, Inc. identified unauthorized activity involving data maintained on certain third-party-hosted business applications," the company said in a June filing with the Securities and Exchange Commission (SEC). "The company promptly activated its cybersecurity response plan and launched an investigation with the support of external advisors and cybersecurity experts to assess and contain the threat. "On June 9, 2026, the company received communications from a threat actor claiming to have obtained sensitive information, including proprietary data, patient protected health information and other personal information. The communications from the threat actor demanded payment in exchange for not publicly disclosing this information. "Since receipt of the communications, the company has confirmed that certain data was exfiltrated from those applications. On June 10, 2026, the company determined that the incident is material in light of the volume of the potentially affected data," the SEC notice said. The company said 298,647 people in Texas had information stolen alongside another 69,526 in South Carolina. iRhythm also filed breach notices in California. Attackers gained access. After the company completed its forensic investigation, it found attackers were on the site from June 3 through June 8. The hackers gained access to unidentified third-party-hosted business applications through a social engineering attack. On October 2 iRhythm provided an update regarding the incident. Following completion of the forensic investigation and subsequent review to determine the nature of the impacted data, the company just started notifying impacted individuals. Following the forensic investigation, iRhythm carried out a review to determine the nature of the impacted data. This review concluded the impacted data includes: Patient name; patient contact information, including address, email address, and phone number; iRhythm patient account number; iRhythm device serial number; patient insurance number; date of service; and date of birth. iRhythm said it has no evidence any personal information has been or will end up used to commit identity theft. However, beginning October 2, 2026, iRhythm began notifying impacted individuals for whom it maintains contact information. Notified individuals have been provided with instructions on best practices to protect their information. The company said out of an abundance of caution, those served by iRhythm should take steps to protect themselves. This includes protecting themselves against medical identity theft and identity fraud, placing a fraud alert/security freeze on their credit files, obtaining free credit reports, and remaining vigilant in reviewing financial account statements and credit reports for fraudulent or irregular activity on a regular basis. No impact to manufacturing. As iRhythm previously reported to the SEC, the company has not identified any impact to its products, clinical or medical device systems, connections to customers, manufacturing and distribution operations, patient safety, or ability to meet patient needs. The company still believes the incident will not have a material impact on its financial condition or results of operations. It said cybersecurity insurance that may cover certain losses associated with the incident. Although, it added, there can be no assurance that such coverage will be sufficient to cover all losses the company may incur. iRhythm manufactures its line of prescription-only ECG patch monitors and cardiac systems. iRhythm designs, develops, and commercializes wearable biosensors (such as the Zio monitor, Zio XT, and Zio AT) alongside cloud-based data analytics and its proprietary AI-driven Zio ECG Utilization Software (ZEUS). No further information was immediately available on who was behind the attack.

The Record
Oct 9th, 2026
iRhythm data breach exposes information of 360,000 patients after social engineering attack

Medical device maker iRhythm disclosed a data breach affecting at least 360,000 people following a June cyberattack. The incident occurred on 8 June when hackers accessed third-party systems through social engineering, the company said in regulatory filings this week. The stolen information includes names, addresses, phone numbers, patient account numbers, device serial numbers, insurance numbers, dates of service, and birth dates. Hackers had access to company systems between 3 June and 8 June. iRhythm, known for its Zio Patch cardiac monitoring sensor, said the breach did not affect clinical systems, medical devices, or operations. The company reported receiving ransom demands but provided no evidence of identity theft. iRhythm reported $224.2 million in Q2 revenue.

Yahoo Finance
Aug 15th, 2026
iRhythm beats Q2 revenue by 2.3%, adjusted EBITDA surges 65.7% to $43.3M

iRhythm reported strong second-quarter results, beating analyst estimates with revenue of $224.2 million, up 20.1% year-on-year. The cardiac monitoring company posted adjusted earnings per share of $0.58, significantly exceeding the $0.04 estimate. Adjusted EBITDA reached $43.3 million, a 65.7% beat against expectations. Management attributed the performance to sustained demand for the Zio platform and effective commercial execution across multiple healthcare channels. During the earnings call, analysts questioned management about synergies from the VitalConnect acquisition and the sustainability of margin gains. CEO Quentin Blackford emphasised the need for a multi-product approach in the cardiac monitoring market. The company raised its full-year revenue guidance to $885 million from $880 million. Operating margin improved to -1.1% from -10% in the prior-year quarter.

Yahoo Finance
Aug 12th, 2026
iRhythm shares fall 1.9% despite strong Q2 earnings after Truist slashes price target from $160 to $18

iRhythm Technologies shares fell 1.9% to $125.41 after Truist Securities slashed its price target from $160 to $18, despite maintaining a Buy rating. The dramatic cut overshadowed the company's strong second-quarter results, which saw revenue of $224.2 million, up 20.1% year-over-year, and earnings per share of $0.58, significantly beating consensus estimates. Following the earnings beat, iRhythm raised its full-year revenue guidance to $885 million at the midpoint. The cardiac monitoring company has experienced volatile trading, with 19 moves greater than 5% over the past year. iRhythm is down 28.4% year-to-date and trading 33.7% below its 52-week high of $189.25.

Yahoo Finance
Aug 10th, 2026
iRhythm beats Q2 estimates with $224M revenue and 19.3% EBITDA margin as cardiac monitoring platform gains traction

iRhythm Technologies reported second-quarter revenue of $224.2 million, up 20.1% year-on-year and beating analyst estimates of $219.2 million. The medical technology company's non-GAAP profit of $0.58 per share significantly exceeded consensus forecasts. The company attributed the performance to sustained demand for its Zio ambulatory cardiac monitoring platform and effective commercial execution across cardiology, primary care, and new healthcare channels. Operating margin improved to -1.1% from -10% in the prior-year quarter, driven by manufacturing automation and workflow optimisation. iRhythm raised its full-year revenue guidance to $885 million from $880 million. The company plans to leverage its pending VitalConnect acquisition to expand into mobile cardiac telemetry and remote patient monitoring markets.

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