Filing Flows › iRhythm Holdings (IRTC) › Q2 2025
iRhythm Holdings (IRTC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
iRhythm Holdings (IRTC) reported revenue of $187M for the second quarter 2025 (Q2 2025), +26% from a year earlier and +18% from the quarter before. Operating margin was -10.0%, net loss $14.2M (7.6% of revenue).
iRhythm Holdings, Q2 2025: revenue $187M (+26% year over year), operating margin -10.0%, net loss $14.2M, operating cash flow $27.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $187M | +18% | +26% |
| Operating profit | −$18.7M | — | — |
| Net earnings | −$14.2M | — | — |
| Operating cash flow | $27.7M | — | +134% |
| Free cash flow | $17.3M | — | +416% |
What changed
Revenue was $186.7M in Q2 2025, up 26% year over year and up 18% from the previous quarter. Contracted third-party payors was the largest line at 52% of revenue. Contracted third-party payors added $18.5M year over year (up 23%), 48% of the total change.
Gross margin was 71.2%, up 1.3 points from a year earlier. Operating costs exceeded revenue by $18.7M, an operating margin of -10.0%. Operating expenses grew 20% against revenue growth of 26%. The fastest-growing cost line was SG&A (+18%). The quarter ended with a net loss of $14.2M, narrower than the previous quarter's $30.7M loss. Non-operating items added $4.3M, -30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $27.7M (up 134% year over year). Non-cash charges added back $5.1M of depreciation and amortization and $22.8M of share-based compensation. Working capital and other items added $13.9M. Capital expenditures of $10.4M left free cash flow of $17.3M.
Questions
What was iRhythm Holdings' revenue in the second quarter 2025?
iRhythm Holdings (IRTC) reported revenue of $187M for the second quarter 2025 (Q2 2025), +26% from a year earlier and +18% from the quarter before.
Was iRhythm Holdings profitable in the second quarter 2025?
Operating loss was $18.7M (-10.0% of revenue) and net loss $14.2M.
Source: iRhythm Holdings 10-Q on SEC EDGAR.