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iRhythm Holdings (IRTC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · iRhythm Holdings (IRTC) Q3 2026 earnings results →
Q3 2026 Revenue up 15% year over year to $222M · 13¢ of every $1 of revenue lost · operating margin -14.7%
iRhythm Holdings made $222M in Q3 2026 (+15% Y/Y): Contracted third-party payors $111M, CMS $57.2M, Customer A $37.4M. Operating margin -14.7%, net loss $29.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $221.6M in Q3 2026, up 15% year over year and down 1% from the previous quarter. Contracted third-party payors was the largest line at 50% of revenue. Contracted third-party payors added $11.8M year over year (up 12%), 41% of the total change.
Gross margin was 74.2%, up 3.1 points from Q3 2025. Operating costs exceeded revenue by $32.6M, an operating margin of -14.7%. Operating expenses grew 35% against revenue growth of 15%. The quarter ended with a net loss of $29.9M, wider than the previous quarter's $381K loss.
Operating cash flow was $4.4M (down 87% year over year). Non-cash charges added back $5.3M of depreciation and amortization and $19.5M of share-based compensation. Working capital and other items added $9.5M. Capital expenditures of $16.0M exceeded it, leaving free cash flow of −$11.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $222M | +15% | -14.7% | −$29.9M | $4.4M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $224M | +20% | -1.1% | −$381K | $51.1M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $199M | +26% | -8.1% | −$13.9M | −$26.2M |
| Q4 2025 | 10-K | Feb 19, 2026 | $209M | +27% | 1.1% | $5.6M | $26.2M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $193M | +31% | -4.4% | −$5.2M | $34.9M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $187M | +26% | -10.0% | −$14.2M | $27.7M |
| Q1 2025 | 10-Q | May 1, 2025 | $159M | +20% | -20.5% | −$30.7M | −$7.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Medicare & Medicaid — 24% of its revenue · Stated in 10-K (customer table) · source
About iRhythm Holdings
iRhythm is a leading digital healthcare company that creates trusted solutions that detect, predict, and prevent disease. Our principal business is the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services that we believe allow clinicians to diagnose certain arrhythmias quicker and with greater efficiency than other services that rely on traditional technology. Each iRhythm product offering combines a wire-free, patch-based, 14-day wearable biosensor (United States Food and Drug Administration (“FDA”)-cleared, Conformité Européenne (“CE”)-marked and Japan Pharmaceuticals and Medical Devices Agency ("PMDA")-approved, as applicable) that continuously records electrocardiogram ("ECG") data with a proprietary cloud-based data analytic software (also FDA-cleared, CE-marked and Japan PMDA-approved, as applicable) (such…
In its own words, from its 10-K, filed Feb 19, 2026.
iRhythm Holdings against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +5%. Operating margin: -14.7% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| IRTC iRhythm Holdings | Q3 2026 | $222M | +15% | -14.7% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: iRhythm Holdings 10-Q on SEC EDGAR · CIK 1388658 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns IRTC and who is buying
More on IRTC
- How iRhythm Holdings makes money: revenue by segment
- iRhythm Holdings next earnings date and what analysts expect
- iRhythm Holdings stock forecast, price target and fair value
- Who owns iRhythm Holdings stock: holders, funds and Congress trades
- iRhythm Holdings guidance and outlook
- iRhythm Holdings recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- iRhythm Holdings guidance history: guided vs reported
- iRhythm Holdings free cash flow by quarter
- iRhythm Holdings R&D spending by quarter
- iRhythm Holdings capital expenditures by quarter
- iRhythm Holdings Contracted third-party payors revenue by quarter
- iRhythm Holdings CMS revenue by quarter
- iRhythm Holdings Customer A revenue by quarter