iRhythm’s second quarter results were driven by accelerating growth in its core long-term cardiac monitoring business, expanded adoption of the Zio AT product, and increased contributions from innovative channel partnerships. Management attributed the strong revenue growth to record new account openings, particularly among integrated delivery networks, and highlighted new partnerships, such as with Lucem Health, that leverage artificial intelligence to identify at-risk patients earlier. CEO Quentin Blackford noted, “We achieved record new account openings in long-term continuous monitoring driven by innovative channel partnerships and continued strong growth from recently launched IDN customers.”

Is now the time to buy IRTC? Find out in our full research report (it’s free).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From iRhythm’s Q2 Earnings Call

• Allen Gong (JPMorgan) asked about guidance drivers and the split between core business and innovative channels. CEO Quentin Blackford said, “Core business is the largest driver,” with about two-thirds of the guidance raise attributed to core, and the rest split between Zio AT and innovative channels.
• Brandon Vazquez (William Blair) inquired about the impact of EHR integration on patient volumes. Blackford explained that integrated accounts saw over 20% higher prescribing, with some as high as 40%, highlighting the significant opportunity among Epic users.
• Nathan Treybeck (Wells Fargo) questioned which innovative partnerships underpin growth and the sustainability of reorder rates. Blackford named Signify, CenterWell, and Oak Street as key contributors and cited “continuous repeat prescribing patterns” as a source of future optimism.
• Suraj Kalia (Oppenheimer) pressed on the barriers to gaining Zio AT market share parity with long-term monitoring. Blackford pointed to forthcoming Zio MCT enhancements, but noted limitations in directly addressing “buy and build” MCT market segments.
• William Plovanic (Canaccord Genuity) sought clarity on FDA remediation status and parallel product filings. Blackford confirmed all responses have been submitted, with the third-party audit and MCT filing progressing concurrently.

Catalysts in Upcoming Quarters

In the coming quarters, the StockStory team will monitor (1) the rate of new account additions and expanded adoption from innovative channel partners, (2) the commercial rollout and regulatory approval timeline for the next-generation Zio MCT device, and (3) progress on FDA remediation and third-party quality audits. Execution on international market expansion and ongoing EHR integration efforts will also be important markers of success.

iRhythm currently trades at $163.64, up from $140.17 just before the earnings. In the wake of this quarter, is it a buy or sell? Find out in our full research report (it’s free).

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