EL7.AI
StocksMedium•11 November 2026•
3 min read

iRhythm Revenue Rises 14.9% in Third Quarter as Net Loss Widens

Key Facts

1iRhythm’s revenue in the third quarter of 2026 was $221.6 million, up 14.9% year over year.
2Gross margin was 74.2%, an increase of 310 basis points from the third quarter of 2025.
3The company recorded a GAAP net loss of $29.851 million in the third quarter of 2026, compared with $5.212 million a year earlier.
4Unrestricted cash and cash equivalents and marketable securities totaled $560.7 million on September 30, 2026.

iRhythm reported revenue of $221.6 million in the third quarter of 2026, up 14.9% from the same period in 2025, according to its results filing with the U.S. Securities and Exchange Commission. The growth puts the company’s operating performance at the forefront of news circulating about its board’s approval of a share repurchase program, though the authorization’s details and value could not be verified in a reliable public announcement. It is therefore not possible to determine the program’s size or terms based on the information available here. The results showed an improvement in gross margin alongside revenue growth. However, net loss widened year over year, presenting a more mixed financial picture than sales growth alone.

Gross margin rose to 74.2% in the third quarter, an increase of 310 basis points from the same quarter in 2025, according to the company’s filing. Adjusted EBITDA was $51.2 million, with a margin of 23.1% for the quarter. On the other hand, GAAP net loss was $29.851 million, compared with a loss of $5.212 million in the same period a year earlier. These figures highlight the widening gap between improved adjusted operating metrics and the net result recorded under accounting rules. The available filing did not link these results to any specific decision on share repurchases.

The CEO said demand for the Zio Monitor remained strong and that volume-driven revenue growth exceeded the company’s expectations during the quarter. Unrestricted cash and cash equivalents and marketable securities totaled $560.7 million on September 30, 2026, according to the results filing. This represents the reported liquidity balance at the end of the quarter, while no verified details are available here on the amount of any share purchases executed or the terms of the reported program. The company also closed a $300 million secured revolving credit facility on November 3. The agreement provides an available credit line, but the report does not state that any amount was drawn at closing.

iRhythm completed its acquisition of VitalConnect on October 5, 2026, adding to its portfolio an FDA-cleared remote cardiac monitoring offering using mobile cardiac telemetry. The company said its fiscal 2026 outlook includes revenue of between $890 million and $895 million, and an adjusted EBITDA margin of between 15.5% and 16.0%. The revenue outlook includes an approximately $16 million contribution from VitalConnect from the acquisition’s closing through year-end. This places the deal among the factors incorporated into the annual outlook, while its actual impact remains limited to the period after its completion during the current year. The available information does not give an announced date for the next step regarding the reported repurchase program.