Irhythm Technologies, Inc. (NASDAQ:IRTC) shared its preliminary fourth quarter 2024 highlights and a business update at the 43rd annual J.P. Morgan Healthcare Conference. The company anticipates full-year 2024 revenue to slightly exceed the high end of its previously stated guidance range of $587.5 million, which was provided in October 2024. Notably, it reported a record quarter of new account openings for both Zio Monitor and Zio AT during the fourth quarter of 2024, along with substantial volume contributions from large national accounts.
During the same period, the company launched the first four healthcare systems on Epic Aura and initiated Zio Monitor shipments for home enrollment patients. Additionally, five studies presented at the American Heart Association highlighted Zio Monitor’s high patient satisfaction, engagement, and compliance with the patient MyZio app and digital tools. The studies also focused on the health economic impact of early arrhythmia detection in type 2 diabetes and respiratory disease, as well as AI insights on sleep and activity patterns.
Looking ahead to 2025, iRhythm Technologies expects revenue for the full year to be approximately $675 million to $685 million, reflecting its optimistic outlook for the coming year. Quentin Blackford, iRhythm’s President and CEO, expressed satisfaction with the company’s growth and transformation in 2024. Notably, the company expanded into four European countries, earned Japanese regulatory approval, and signed a strategic technology licensing agreement with BioIntelliSense.
Blackford emphasized that the company is well-positioned to continue transforming through a commitment to excellence, innovation, and value creation. He highlighted plans to ensure that quality systems are best-in-class and to expand further into primary care channels through a land-and-expand strategy. Internationally, iRhythm is aiming to drive further penetration within markets where it is earlier in the commercial adoption curve.
The company's management is scheduled to present at the 43rd annual J.P. Morgan Healthcare Conference on January 13, 2025. Interested parties will be able to access a live and archived webcast of the presentation on the "Events & Presentations" section of the company’s investor website at investors.irhythmtech.com.
iRhythm Technologies, Inc. is a leading digital healthcare company focused on creating trusted solutions that detect, predict, and prevent disease. Through wearable biosensors and cloud-based data analytics, the company aims to deliver better data, better insights, and better health for all. Following these announcements, the company's shares moved -3.2%, and are now trading at a price of $94.61. Check out the company's full 8-K submission here.
