iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, prevent and predict disease, will discuss the Company’s strategies for long-term growth, provide an update on its innovation pipeline and share its financial goals during its 2022 Analyst & Investor Day today in New York City. A live webcast of the event will begin at 9:00 a.m. ET and will be accessible at that time on the investors section of the Company’s website at investors.irhythmtech.com.
“We are incredibly excited to share our growth strategies, refreshed vision and mission, and our five-year financial targets that represent the future direction of iRhythm,” said Quentin Blackford, President and Chief Executive Officer. “iRhythm has a strong foundation upon which we are building, and we see real potential to serve millions more patients. Our technology platform is well suited to meet the needs of an evolving healthcare landscape while transforming a market that has not been disrupted in the last ten years.”
Mr. Blackford continued, “In the last 5 years, we have served more than 4 million patients and delivered compounded annual revenue growth of over 30%. Going forward, we see a clear growth path to $1 billion in revenue by 2027 supported by our core business in the U.S. and internationally. This plan aims to deliver 15% adjusted EBITDA margins, while allowing for selective investments in continued innovation and adjacent market opportunities that have the potential to meaningfully expand our addressable markets. We are thinking big and look forward to providing updates on our progress.”
As part of the Company’s 2022 Analyst & Investor Day, iRhythm will be discussing the following:
iRhythm reaffirms its previously provided financial guidance for 2022. iRhythm projects revenue for the full year 2022 to range from $415 million to $420 million, which represents 29% to 30% growth over prior year results. Gross margin for the full year 2022 is expected to range from 68% to 69% and adjusted operating expenses are expected to range between $375 million and $385 million. Adjusted EBITDA for the full year 2022 is expected to range from negative $12.5 million to negative $17.5 million.