iRhythm reports Q3 EPS (89c), consensus (66c)

Reports Q3 revenue $124.6M, consensus $122.57M. “Building on momentum from the first half of 2023, our teams achieved record registration volumes in the third quarter,” said Quentin Blackford, iRhythm’s President and CEO. “Revenue growth of 20% year-over-year was driven by strong volume contribution from accounts opened in the previous twelve months as well as sustained market penetration within our existing customer base. While we have been thrilled with the success that Zio XT has enjoyed in the marketplace, we are even more excited about the recent commercial launch of our next generation Zio monitor. With a smaller footprint, more breathable adhesive, and waterproof housing compared to Zio XT, the Zio monitor was designed with the patient in mind and embodies the next generation of ambulatory cardiac monitoring. We are also excited to have formally opened our Global Business Services center in the Philippines which will lead to meaningful operational efficiencies over time as we grow and scale our business.”