IRTCiRhythm Holdings, Inc.
Is the business good?
The checks split: nothing decisive, though margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is IRTC?
iRhythm Holdings, Inc. keeps −3.0% of every revenue dollar as operating profit, against 2.1% for the median Medical Devices name.
Operating margin · Medical Devices median 2.1% · 12 months to Q2 2026
- Share count, year on year
- +2.8%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 10%
R&D as % of revenue
- Gross margin
- 71%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −16% |
| FY2021 | −31% |
| FY2022 | −28% |
| FY2023 | −25% |
| FY2024 | −20% |
| FY2025 | −7.7% |
Details›
- Gross margin12 months to Q2 2026
- 71%
- Operating margin12 months to Q2 2026
- −3.0%
- Net margin12 months to Q2 2026
- −1.7%
- Free cash flow margin
- 4.7%
- R&D as % of revenue
- 10%
- Revenue, trailing twelve months
- $825M
- Free cash flow, trailing twelve months
- $39M
- Net income, trailing twelve months
- −$14M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.