iRhythm Technologies Shares Preliminary Q4 2023 Highlights And Business Update At The 42nd Annual J.P. Morgan Healthcare Conference; Grew Q4 2023 Patient Registrations In Excess Of 22% YoY; Sees FY24 Revenue $575M-$585M Vs 578.72M Est.
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iRhythm Technologies, Inc. (NASDAQ:IRTC) reported preliminary Q4 2023 results at the J.P. Morgan Healthcare Conference, showing over 22% YoY growth in patient registrations. The company expects FY24 revenue to be between $575M-$585M, aligning with estimates. iRhythm published the CAMELOT study, submitted a 510(k) to the FDA, received CE marks for Zio Monitor and ZEUS systems, and closed a $150M term loan credit facility with Braidwell LP. The company is focusing on expanding its cardiology and primary care channels and international markets, while investing in technology and growth.
January 08, 2024 | 1:41 pm
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iRhythm Technologies anticipates FY24 revenue of $575M-$585M, in line with estimates, after a strong Q4 with patient registrations up over 22% YoY. The company has also achieved regulatory milestones and secured a $150M credit facility.
The positive preliminary Q4 results and the alignment of FY24 revenue projections with estimates suggest a strong financial position, which is likely to be viewed favorably by investors. The regulatory advancements and the new credit facility indicate a solid foundation for future growth, potentially leading to a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100