IRHYTHM TECHNOLOGIES, INC. (IRTC): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da assistência médica digital, as tecnologias de irithm surgem como um inovador inovador, revolucionando o monitoramento cardíaco por meio de sua plataforma Zio de ponta. Ao combinar perfeitamente a tecnologia avançada com o design centrado no paciente, a empresa transformou como os profissionais médicos diagnosticos e rastreiam distúrbios do ritmo cardíaco, oferecendo uma solução abrangente e não invasiva que promete precisão e conveniência sem precedentes. Seu modelo de negócios exclusivo representa uma abordagem sofisticada para abordar lacunas críticas no diagnóstico cardíaco, posicionando o iritmo como uma força transformadora na tecnologia médica moderna.

IRHythm Technologies, Inc. (IRTC) - Modelo de negócios: Parcerias -chave

Empresas de tecnologia de saúde e empresas de dispositivos médicos

O IRHYTHM Technologies colabora com vários parceiros de tecnologia de saúde:

Empresa parceira	Foco em parceria	Ano estabelecido
Medtronic	Integração de tecnologia de monitoramento cardíaco	2019
Boston Scientific	Desenvolvimento da plataforma de detecção de arritmia	2020

Provedores de saúde e hospitais

Parcerias estratégicas com sistemas de saúde incluem:

• Clínica Mayo
• Clínica de Cleveland
• Stanford Healthcare
• Hospital Johns Hopkins

Companhias de seguros e pagadores

Provedor de seguros	Cobertura de reembolso	Valor do contrato
UnitedHealthcare	Cobertura do monitor Zio XT	US $ 45 milhões
Cruz azul do hino	Serviços de monitoramento cardíaco	US $ 38,2 milhões

Fabricantes de dispositivos médicos

Principais parcerias de fabricação de dispositivos:

• GE Healthcare
• Philips Healthcare
• Siemens Healthineers

Instituições de pesquisa e centros médicos acadêmicos

Instituição	Foco na pesquisa	Projetos colaborativos
Escola de Medicina de Harvard	Análise do ritmo cardíaco	3 programas de pesquisa em andamento
Universidade da Califórnia, São Francisco	Algoritmos de detecção de arritmia	2 estudos colaborativos

Irythm Technologies, Inc. (IRTC) - Modelo de negócios: Atividades -chave

Desenvolvimento e fabricação de dispositivos de monitoramento cardíaco

As tecnologias de irithm se concentram na produção de dispositivos de monitoramento cardíaco da ZIO com as seguintes especificações:

Métrica do dispositivo	Especificação
Produção anual de dispositivos	Aproximadamente 500.000 Zio XT e Zio em patches
Duração do desgaste do dispositivo	Até 14 dias de monitoramento contínuo
Locais de fabricação	San Francisco, Califórnia e instalações contratadas

Criando software avançado para análise de ritmo cardíaco

Os recursos de desenvolvimento de software incluem:

• Algoritmos de interpretação do ECG movidos a IA
• Plataformas de diagnóstico de aprendizado de máquina
• Sistemas de análise de dados baseados em nuvem

Métricas de desenvolvimento de software	Detalhes
Investimento em P&D	US $ 89,4 milhões em 2022
Equipe de engenharia de software	Mais de 200 engenheiros especializados

Realização de estudos de pesquisa e validação clínicos

As áreas de foco de pesquisa incluem:

• Precisão de detecção de arritmia
• Eficácia de monitoramento cardíaco a longo prazo
• Validação de tecnologia de diagnóstico remoto

Métrica de pesquisa	Estatística
Estudos clínicos anuais	12-15 Projetos de pesquisa revisados ​​por pares
Artigos de pesquisa publicados	27 publicações em 2022-2023

Fornecendo soluções de monitoramento de saúde digital

Recursos de plataforma de saúde digital:

• Integração de telemedicina
• Compatibilidade eletrônica de registro de saúde
• Transmissão de dados em tempo real

Métrica da plataforma digital	Desempenho
Provedores de saúde conectados	Mais de 5.000 instituições médicas
Processamento anual de dados	Aproximadamente 1,2 milhão de registros de pacientes

Inovação contínua em diagnóstico cardíaco remoto

Métricas de estratégia de inovação:

Métrica de inovação	Detalhes
Registros anuais de patentes	16-20 novas patentes de tecnologia
Investimento em tecnologia	23,4% da receita anual
Ciclo de desenvolvimento de produtos	18-24 meses por inovação grande

Irythm Technologies, Inc. (IRTC) - Modelo de negócios: Recursos -chave

Tecnologia proprietária de monitoramento cardíaco da Zio

A partir do quarto trimestre 2023, o monitor de patches Zio XT da IRHYTHM foi limpo da FDA e abrange o monitoramento cardíaco contínuo de 14 dias. O dispositivo pesa 8 gramas e possui 99,6% de taxa de captura de dados.

Especificação de tecnologia	Métricas
Duração do monitoramento	14 dias contínuos
Peso do dispositivo	8 gramas
Taxa de captura de dados	99.6%

Algoritmos avançados de análise de dados e aprendizado de máquina

Os algoritmos proprietários do Irhythm processam mais de 1,2 milhão de estudos de pacientes anualmente, com modelos de aprendizado de máquina treinados em mais de 300 milhões de batidas de ECG.

Portfólio de propriedade intelectual

A partir de 2023, o IRHythm possui 97 patentes emitidas e 87 pedidos de patentes pendentes em tecnologias de monitoramento cardíaco digital.

Categoria de patentes	Número
Patentes emitidas	97
Aplicações de patentes pendentes	87

Equipes de engenharia e pesquisa médica qualificadas

A empresa emprega 829 funcionários em período integral em 31 de dezembro de 2023, com 62% dedicados à pesquisa, desenvolvimento e operações clínicas.

• Total de funcionários: 829
• Pessoal de P&D e Operações Clínicas: 514 (62%)
• Tamanho da equipe de engenharia: 287

Plataformas de saúde digital baseadas em nuvem

A plataforma Zio da Irhythm processa mais de 500.000 estudos de pacientes anualmente, com infraestrutura de nuvem que suporta a análise e relatórios de dados em tempo real.

Capacidade da plataforma	Volume
Estudos anuais de pacientes processados	500,000+
Velocidade de processamento de dados	Em tempo real

IRHYTHM Technologies, Inc. (IRTC) - Modelo de negócios: proposições de valor

Soluções de monitoramento cardíaco não invasivas e de longo prazo

O IRHYTHM Technologies oferece Zio XT e Zio em dispositivos de monitoramento cardíaco baseados em patches com as seguintes especificações:

Especificação do dispositivo	Detalhes de medição
Duração do monitoramento	Monitoramento cardíaco contínuo de 14 dias
Classificação de conforto do paciente	98,6% da taxa de satisfação do paciente
Precisão da coleta de dados	99,4% de gravações de ritmo cardíaco de qualidade diagnóstica

Detecção e análise de ritmo cardíaco de alta precisão

Métricas de desempenho do algoritmo proprietário:

• Sensibilidade à detecção de arritmia: 96,7%
• Taxa positiva falsa: 2,3%
• Análise de IA Processamento: mais de 250 milhões de pontos de dados de batimentos cardíacos anualmente

Tecnologia vestível para paciente

Características do dispositivo técnico:

Recurso	Especificação
Peso	7,5 gramas
Resistência à água	IPX7 avaliado
Duração da bateria	14 dias contínuos

Insights de diagnóstico abrangentes para médicos

Recursos de relatório clínico:

• Geração abrangente de relatório Tempo: 24-48 horas
• Rendimento diagnóstico: 35% maior que o monitoramento tradicional de Holter
• Integração de dados baseada em nuvem com 87% dos sistemas eletrônicos de registros de saúde

Alternativa econômica ao monitoramento cardíaco tradicional

Métricas de valor econômico:

Comparação de custos	Quantia
Custo médio do monitor Holter Holter	$500-$1,200
Irhythm zio xt Custo médio	$350-$750
Economia potencial de assistência médica	Redução de 27% nas despesas de monitoramento

Irythm Technologies, Inc. (IRTC) - Modelo de Negócios: Relacionamentos do Cliente

Vendas diretas para profissionais de saúde

As tecnologias de irithm utilizam uma abordagem de vendas direta direcionada aos prestadores de serviços de saúde, incluindo:

Segmento de clientes	Abordagem de vendas	Alcance anual
Práticas de cardiologia	Representantes de vendas dedicados	Mais de 3.500 instalações de saúde
Redes hospitalares	Equipe de vendas corporativa	Aproximadamente 250 principais sistemas de saúde
Grupos médicos particulares	Especialistas regionais de vendas	Mais de 2.000 práticas médicas

Suporte técnico e atendimento ao cliente

A infraestrutura de suporte ao cliente inclui:

• 24/7 de suporte técnico Linha direta
• Portal de suporte on -line
• Tempo médio de resposta: 15 minutos
• Equipe de suporte ao cliente: 87 profissionais dedicados

Atualizações e melhorias de software em andamento

Categoria de atualização	Freqüência	Investimento
Patches de software	Trimestral	US $ 4,2 milhões anualmente
Aprimoramentos de recursos	Semestral	US $ 6,7 milhões anualmente
Atualizações de segurança cibernética	Mensal	US $ 2,1 milhões anualmente

Treinamento e educação para profissionais médicos

Os programas de apoio educacional incluem:

• Série de on -line: 42 sessões por ano
• Módulos de treinamento on -line: 18 cursos especializados
• Patrocínios da Conferência Médica Anual: 7 eventos
• Créditos de educação médica continuada: 135 Créditos totais oferecidos

Engajamento do paciente por meio de plataformas de saúde digital

Recurso da plataforma digital	Métricas de engajamento do usuário	Crescimento anual
Aplicativo móvel	157.000 usuários ativos	22% de crescimento ano a ano
Portal do paciente	213.000 pacientes registrados	18% de crescimento ano a ano
Monitoramento remoto	89.000 pacientes remotos ativos	31% de crescimento ano a ano

IRHYTHM Technologies, Inc. (IRTC) - Modelo de Negócios: Canais

Equipe de vendas diretas

As tecnologias de irithm empregam uma segmentação especializada da força de vendas diretas:

• Cardiologistas
• Eletrofisiologistas
• Médicos de cuidados primários

Métricas da equipe de vendas	2023 dados
Total de representantes de vendas	185
Comprimento médio do ciclo de vendas	42 dias
Regiões de cobertura de vendas	50 estados dos EUA

Distribuidores de dispositivos médicos

Parceiros de distribuição -chave:

• Cardinal Health
• McKesson Corporation
• Amerisourcebergen

Métricas de distribuidores	2023 desempenho
Canais totais de distribuição	12 distribuidores nacionais
Cobertura de distribuição	95% das instalações de saúde dos EUA

Mercados de equipamentos médicos online

Plataformas digitais para tecnologia de monitoramento de patches Zio:

• Medline Industries Marketplace
• Henry Schein Medical
• Amazon Business Healthcare

Conferências de saúde e feiras médicas

Tipo de conferência	Participação anual	Alcance estimado
American Heart Association	3 grandes conferências	15.000 profissionais de saúde
Sociedade de ritmo cardíaco	2 eventos anuais	10.000 participantes

Plataformas de telemedicina

Plataformas de integração:

• Teladoc Health
• Bem americano
• Integração EHR de sistemas épicos

Métricas de telemedicina	2023 dados
Integrações totais da plataforma	7 plataformas nacionais
Alcance de monitoramento de pacientes digitais	65% das redes parceiras

IRHythm Technologies, Inc. (IRTC) - Modelo de negócios: segmentos de clientes

Cardiologistas e especialistas cardíacos

As tecnologias de irithm atendem a aproximadamente 22.000 cardiologistas e especialistas cardíacos nos Estados Unidos a partir de 2023.

Características do segmento	Taxa de utilização	Volume anual
Eletrofisiologistas	68%	14.960 especialistas
Cardiologistas intervencionistas	52%	11.440 especialistas

Médicos de cuidados primários

A empresa tem como alvo aproximadamente 250.000 médicos de cuidados primários nos Estados Unidos.

• Taxa de adoção de monitoramento cardíaco: 37%
• Volume anual de triagem cardíaca: 92.500 médicos

Hospitais e sistemas de saúde

O IRHythm atende 3.200 instalações de saúde em todo o país em 2024.

Tipo de instalação	Número de instalações	Penetração de mercado
Grandes redes hospitalares	680	21.25%
Hospitais comunitários	1,920	60%

Pacientes com necessidades de monitoramento cardíaco

Mercado total de pacientes endereçáveis: 6,2 milhões de pacientes de monitoramento cardíaco anualmente.

• Pacientes de fibrilação atrial: 2,7 milhões
• Pacientes de triagem de arritmia: 3,5 milhões

Provedores de seguros e redes de saúde

O IRHYTHM tem contratos com 85 principais provedores de seguros cobrindo 180 milhões de vidas.

Categoria de seguro	Número de provedores	Vidas cobertas
Seguradoras nacionais	12	95 milhões
Seguradoras regionais	73	85 milhões

IRHYTHM Technologies, Inc. (IRTC) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, as tecnologias do irithm reportaram despesas de P&D de US $ 138,4 milhões, representando 45,8% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 138,4 milhões	45.8%
2022	US $ 126,7 milhões	43.2%

Custos de fabricação e produção

O custo da receita para o iritmo em 2023 foi de US $ 80,3 milhões, o que inclui despesas diretas de fabricação e produção.

• Custos de material direto: US $ 42,5 milhões
• Trabalho de fabricação: US $ 22,8 milhões
• Mercancada de fabricação: US $ 15,0 milhões

Investimentos de vendas e marketing

As despesas de vendas e marketing de 2023 totalizaram US $ 177,2 milhões, representando 58,6% da receita total.

Categoria de despesa	Quantia
Compensação do pessoal de vendas	US $ 98,6 milhões
Campanhas de marketing	US $ 45,3 milhões
Despesas de viagem e promocionais	US $ 33,3 milhões

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de tecnologia e infraestrutura para 2023 foram de US $ 35,6 milhões.

• Infraestrutura de computação em nuvem: US $ 18,2 milhões
• Licenciamento de software: US $ 9,4 milhões
• Suporte e manutenção de TI: US $ 8,0 milhões

Validação clínica e conformidade regulatória

As despesas de conformidade e validação clínica em 2023 totalizaram US $ 22,5 milhões.

Área de conformidade	Despesa
Submissões regulatórias da FDA	US $ 8,7 milhões
Suporte ao ensaio clínico	US $ 10,3 milhões
Documentação de conformidade	US $ 3,5 milhões

IRHYTHM Technologies, Inc. (IRTC) - Modelo de negócios: fluxos de receita

Vendas de dispositivos médicos

As tecnologias de irithm gera receita através da venda de Zio XT e Zio em dispositivos de monitoramento cardíaco de patch. Em 2023, a empresa registrou vendas de dispositivos médicos de US $ 343,6 milhões.

Produto	Vendas anuais (2023)	Quota de mercado
Patch zio xt	US $ 212,4 milhões	62%
Zio em patch	US $ 131,2 milhões	38%

Serviços de monitoramento baseados em assinatura

A empresa gera receita recorrente por meio de serviços de monitoramento cardíaco baseado em assinatura. Em 2023, as receitas de assinatura atingiram US $ 127,5 milhões.

• Taxa média mensal de assinatura: US $ 85 a US $ 125 por paciente
• Duração da assinatura: 7-14 dias por ciclo de monitoramento
• Assinantes anuais estimados: 150.000 pacientes

Análise de dados e taxas de relatório de diagnóstico

O IRHYTHM cobra os prestadores de serviços de saúde por relatórios de diagnóstico abrangentes e análise de dados avançados. Em 2023, esses serviços geraram US $ 56,2 milhões em receita.

Tipo de serviço	Receita (2023)	Taxa média por relatório
Relatórios de diagnóstico avançado	US $ 34,6 milhões	$275
Serviços de análise de dados	US $ 21,6 milhões	$185

Licenciamento de software para prestadores de serviços de saúde

O IRHYTHM oferece licenciamento de software para suas plataformas de saúde digital. As receitas de licenciamento de software em 2023 totalizaram US $ 22,4 milhões.

• Taxa de licenciamento da empresa: US $ 15.000 a US $ 50.000 anualmente
• Número de sistemas de saúde licenciados: 425
• Duração média do contrato: 3 anos

Reembolso de companhias de seguros

A empresa recebe reembolsos de provedores de seguros públicos e privados. Em 2023, os reembolsos de seguros representaram US $ 187,3 milhões em receita.

Tipo de seguro	Valor de reembolso (2023)	Porcentagem da receita total
Seguro privado	US $ 124,6 milhões	66.5%
Medicare/Medicaid	US $ 62,7 milhões	33.5%

iRhythm Technologies, Inc. (IRTC) - Canvas Business Model: Value Propositions

You're looking at the core benefits iRhythm Technologies, Inc. (IRTC) delivers to its customers, which are clearly quantified in their recent performance.

Zio XT offers up to 14 days of continuous, patient-friendly monitoring. Data from a comparison study showed the Zio XT service was associated with the highest diagnostic yield and fastest time to diagnosis compared to all other ambulatory cardiac monitors.

Zio AT is positioned as mobile cardiac telemetry with automated, near real-time detection. Management noted sustained demand for Zio AT, with unit growth more than double the corporate average in Q3 2025.

The clinical evidence strongly supports the superior diagnostic yield compared to traditional Holter monitors. For instance, in one analysis, Zio LTCM service was 2x as likely to result in a specified arrhythmia diagnosis compared to Holter monitoring services.

Here's a quick look at how the Zio XT service compares in yield against other monitoring modalities based on historical data:

Comparison Group	Diagnostic Yield Metric (vs. Holter)
Zio XT (vs. Holter)	Adjusted odds ratio of 1.95 for specified arrhythmia diagnosis.
Zio LTCM (vs. Holter)	2x as likely to result in a specified arrhythmia diagnosis.
Zio LTCM (vs. Other LTCMs)	1.69 times more likely to have a new arrhythmia encounter diagnosis within 90-days compared to Preventice LTCM service.

The data supports actionable, clinically validated data for earlier diagnosis. For patients with daily symptoms, nearly two-thirds of actionable arrhythmias went undetected through two days monitoring, meaning 24-48-hour monitoring like Holter would have missed them.

Furthermore, the next-generation Zio monitor showed improvements over the prior generation Zio XT device, with an overall arrhythmia detection rate of 80.9% versus 76.4%, respectively. The average wear duration was 12.6 days for the new monitor versus 11.9 days for Zio XT.

The operational value is cemented by seamless EHR integration. As of Q3 2025, 76 of the top 100 customers are now EHR integrated. Customers integrated with Epic Aura typically see an average increase of nearly 25% in monitoring volume within the first 6 months of going live.

You should track the following operational metrics:

• 76 of top 100 customers are EHR integrated.
• Epic Aura integration drives near 25% volume uplift in six months.
• Zio AT unit growth was more than double the corporate average in Q3 2025.
• Full year 2025 revenue guidance was raised to $735 million to $740 million.

Finance: draft 13-week cash view by Friday.

iRhythm Technologies, Inc. (IRTC) - Canvas Business Model: Customer Relationships

You're looking at how iRhythm Technologies, Inc. (IRTC) keeps its customers-physicians and health systems-engaged and satisfied as they scale toward a projected full-year 2025 revenue between $\text{\$735 million and \$740 million}$ or $\text{\$720 million to \$730 million}$ depending on the quarter's reporting. The relationship management is multi-faceted, blending direct sales efforts with platform automation.

Dedicated sales force for high-touch health system engagement

The direct engagement relies on a sales force focused on deeper health system integration. This high-touch approach is clearly targeting larger organizations, evidenced by the $\text{over 40 health systems}$ actively implementing or preparing Epic Aura integrations as of the second quarter of 2025. This EHR integration is key to embedding the service into the existing workflow. Furthermore, the company is seeing success in its non-traditional routes to market, reporting $\text{18 active partner accounts}$ in risk-bearing and innovative channels by the third quarter of 2025. The company reached a milestone of $\text{10 million patient reports posted}$ since inception as of the first quarter of 2025, showing the cumulative success of these engagement strategies.

Automated patient onboarding and device return processes

For the patient side, the focus is on making the monitoring seamless, which directly impacts physician satisfaction with the resulting data. Patient compliance with the wear time is reported as $\text{98\%}$ overall. When using the home enrollment (HE) pathway, where devices ship directly to the patient, the median wear time still exceeded $\text{13.8 days}$, and the percent analyzable ECG time was $\text{>98\%}$. This suggests the automated logistics and patient-facing app support are working well. Even better, for those HE patients using the MyZio mobile app, the compliance rate for returning devices within $\text{45 days}$ was $\text{93\%}$. Early wear terminations were infrequent, at $\text{\le2\%}$ across both in-clinic and home-based applications. It's defintely about minimizing friction for the end-user.

Clinical support for physicians interpreting Zio reports

The value proposition hinges on the quality of the final report, which is supported by clinical validation and AI. Physicians report a $\text{99\%}$ agreement rate with the comprehensive end-of-wear report findings. This high level of confidence comes from the ZEUS system, which uses an FDA-cleared, deep-learned AI algorithm that is clinically proven to perform at the level of cardiologists. The system is designed to distill data into actionable information, which is why the high agreement rate is so important for physician adoption.

Strategic partnerships with innovative value-based care groups

Strategic alliances are a major growth vector, especially in value-based care settings. The company highlighted progress within these innovative value-based care accounts as a driver for its Q3 2025 revenue of $\text{\$192.9 million}$. The partnership with Lucem Health, for instance, aims to use predictive AI to identify appropriate patients for proactive monitoring using Zio services. The clinical evidence supports this approach; earlier diagnosis in at-risk populations could potentially lead to over $\text{\$10 million}$ in downstream cost avoidance for every $\text{1,000}$ such patients diagnosed.

Here's a quick look at some key customer-facing metrics as of late 2025:

Metric Category	Key Data Point	Value/Amount	Context/Source Period
Physician Trust	Physician Agreement with End-of-Wear Report	99%	Reported Data
Patient Compliance	Overall Patient Compliance Rate	98%	Reported Data
Onboarding Efficiency (Home)	Compliance with Device Return (Home Enrollment)	93%	Using MyZio App
Health System Integration	Active Risk-Bearing/Innovative Partner Accounts	18	As of Q3 2025
EHR Integration Scale	Health Systems Implementing Epic Aura	Over 40	As of Q2 2025

Finance: draft the Q4 2025 sales force deployment efficiency report by next Tuesday.

iRhythm Technologies, Inc. (IRTC) - Canvas Business Model: Channels

The Channels block for iRhythm Technologies, Inc. centers on getting the Zio service to the end-user-the patient-through various clinical and direct pathways. This multi-pronged approach is designed to maximize penetration across different segments of the U.S. healthcare system and expand globally.

Direct sales to hospitals, clinics, and physician practices remain the foundational channel, driven by direct engagement with clinical staff and administrators. This is heavily supported by the push for deep system integration. As of the third quarter of 2025, 76 of iRhythm Technologies, Inc.'s top 100 customers are now EHR integrated. This integration effort is specifically focused on major platforms; for instance, 30 systems are live with Epic Aura, with another 65 systems in active implementation or advanced discussions for that same integration. The value proposition here is clear: Epic Aura integrated customers typically see an average increase of nearly 25% in monitoring volume within the first 6 months of going live. Furthermore, the company is seeing growth through its network of partners, reporting 18 active innovative channel partner accounts as of the third quarter of 2025.

For patient convenience, home enrollment shipments are a key component of the channel strategy, allowing for remote deployment of the monitoring device. This channel saw initiation of shipments in the fourth quarter of 2024. Data from a large-scale analysis involving over 742,000 patients confirmed the viability of this direct-to-patient shipment model. Here's a quick look at the performance metrics for home-enrolled (HE) patients:

Metric	Home Enrollment (HE) Patients	In-Clinic Application Group
Median Wear Time	>13.8 days	Comparable
Percent Analyzable ECG Time	>98%	Comparable
Early Wear Terminations	$\le$2%	$\le$2%

The use of the MyZio mobile app was also more common among HE patients at 52% compared to 17% for the other group, which correlated with better compliance for device return within 45 days (93% vs. 80%).

The international distribution network supports global reach, with specific focus areas showing momentum. In the second quarter of 2025, management highlighted momentum in the United Kingdom, four European markets, and the commercial launch in Japan. The third quarter of 2025 revenue specifically included contribution from international markets.

The overall commercial execution, which relies on these channels, is reflected in the financial guidance and results:

• Full year 2025 revenue guidance is set between $735 million to $740 million.
• Third quarter 2025 revenue reached $192.9 million, marking a 30.7% increase year-over-year.
• Growth in Q3 2025 was driven by demand in core accounts, Zio AT penetration, and new innovative channel customer accounts.

If onboarding takes 14+ days, churn risk rises.

Finance: draft 13-week cash view by Friday.

iRhythm Technologies, Inc. (IRTC) - Canvas Business Model: Customer Segments

You're looking at the core groups iRhythm Technologies, Inc. (IRTC) targets with its Zio monitoring platform. It's a tiered approach, moving from the specialists who are the primary users to broader primary care and health systems to capture patients earlier in their journey.

The scale of the business, as of late 2025 based on updated guidance, supports this segmentation. Full year 2025 revenue is projected between $735 million to $740 million. The third quarter of 2025 alone brought in revenue of $192.9 million, showing strong volume growth across these customer types.

Cardiologists and electrophysiologists (core market)

This group remains the bedrock of iRhythm Technologies, Inc.'s business. They are the specialists who rely on the detailed, long-term data from the Zio service for definitive diagnosis of complex arrhythmias. The company notes continued momentum in its core long-term continuous monitoring business.

The clinical validation is a key selling point to this segment. For instance, the company has data showing that 99% of physicians agree with the comprehensive end-of-wear report generated by the system.

Primary care physicians (PCPs) for upstream monitoring

iRhythm Technologies, Inc. is actively pushing for earlier prescribing by PCPs to catch issues before they escalate to a specialist referral. This is the upstream expansion strategy. The company has seen growth driven by its ongoing expansion into primary care programs.

The integration of the Zio platform with Electronic Health Record (EHR) systems is crucial here for workflow adoption. The partnership with Epic Systems Corporation's Aura solution is showing tangible results, with management noting an average of over a 20% increase in prescribing patterns post-integration, with some accounts seeing as high as a 40% lift.

Innovative value-based care organizations and health systems

This segment focuses on large organizations where the economic value of early detection-reducing downstream costs and adverse events-is most apparent. iRhythm Technologies, Inc. reports progress within innovative value-based care accounts.

The company has been aggressively pursuing system-level adoption. As of the second quarter of 2025, over 40 health systems were actively implementing or preparing integrations for the Epic Aura solution. Furthermore, the platform has integrated with 92 EHR platforms and 1,256 healthcare technology networks to streamline data flow.

Patients requiring long-term ambulatory cardiac monitoring

The patient is the ultimate beneficiary, and the product evolution is directly tied to their needs. The company has reached a significant milestone, posting over 10 million patient reports since its inception.

Payer coverage is expanding this segment's reach. As of mid-2025, iRhythm Technologies, Inc. noted expanded payer coverage for Zio services as an in-network benefit to over 10 million additional patients in the U.S. Product innovation also targets patient needs, with the next-generation Zio MCT device expected to extend wear time from 14 days to 21 days.

Here's a quick look at how the financial performance supports the scale of these customer interactions through the first three quarters of 2025:

Metric	Q1 2025 Value	Q3 2025 Value	FY 2025 Guidance (Projected)
Revenue	$158.7 million	$192.9 million	$735 million to $740 million
Gross Margin	68.8%	71.1%	Not explicitly stated for full year, but trending up
Cash & Equivalents (End of Period)	$520.6 million (as of March 31, 2025)	$565.2 million (as of September 30, 2025)	N/A

The focus on innovative channels and primary care is meant to drive volume leverage, which helped push the Q3 2025 gross margin up to 71.1%. The company is definitely betting on these newer segments to fuel future growth beyond the established core cardiologist base.

iRhythm Technologies, Inc. (IRTC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that fuel iRhythm Technologies, Inc.'s growth and operations as of late 2025. These are the dollars going out to keep the Zio platform running, innovating, and expanding commercially.

The Cost Structure is heavily weighted toward delivering the service and scaling the commercial footprint. Here's a breakdown of the key financial outlays based on the most recent reporting periods.

The Cost of Revenue, which covers the Zio patch production and the service labor for analysis, is a direct function of volume. For the third quarter of 2025, this cost was reported at $55.8 million.

Innovation doesn't come cheap, especially when developing next-generation hardware and software. Research and development (R&D) spending for projects like the Zio MCT solution was $21.0 million in Q3 2025. This investment is crucial for maintaining a technological edge in cardiac monitoring.

Commercial expansion requires significant investment in the sales force and the infrastructure to support it. Sales, General, and Administrative (SG&A) expenses reflect this push. For the twelve months ending September 30, 2025, iRhythm Technologies, Inc.'s SG&A reached $470 million.

Still, the company has been managing costs related to past regulatory issues. Ongoing expenses for FDA remediation and quality system improvements were estimated to be approximately $15 million for the full year 2025, a necessary outlay to ensure compliance and maintain market access.

To give you a clearer picture of the operating expense environment in Q3 2025, here are the key figures:

Cost Component	Reported Amount (Q3 2025)	Context/Period
Cost of Revenue	$55.8 million	Q3 2025
Research and Development (R&D)	$21.0 million	Q3 2025
Total Operating Expenses (GAAP)	$145.6 million	Q3 2025
Adjusted Operating Expenses (Non-GAAP)	$141.4 million	Q3 2025

The operating expense profile shows a clear focus on scaling the business, but you have to look closely at the components that make up that total spend.

Here's how the major operating expense categories break down, keeping in mind that the SG&A figure is a trailing twelve-month number:

• Cost of Revenue (Zio production/labor): $55.8 million in Q3 2025.
• Research and Development (R&D): $21.0 million in Q3 2025.
• Sales, General, and Administrative (SG&A) (TTM): $470 million as of September 30, 2025.
• FDA Remediation/Quality System Costs: Estimated at approximately $15 million for the full year 2025.

The total GAAP Operating Expenses for Q3 2025 were $145.6 million. That's a reduction from $151.8 million in Q3 2024, showing some operating leverage is starting to take hold, even with ongoing investments.

Finance: draft 13-week cash view by Friday.

iRhythm Technologies, Inc. (IRTC) - Canvas Business Model: Revenue Streams

You're looking at how iRhythm Technologies, Inc. brings in the money, and as of late 2025, the story is about scaling the Zio service model profitably. The core of the revenue is the fee charged for the Zio service itself, which covers both the Zio XT and the Zio AT devices and the subsequent data analysis.

The momentum from the first half of the year led management to raise the full-year 2025 revenue guidance to between $735 million to $740 million. This range represents a projected year-over-year growth of 24% to 25% for the full fiscal year 2025. To give you a concrete look at the current run rate, third quarter 2025 revenue hit $192.9 million, which was a 30.7% increase compared to the third quarter of 2024.

The high gross margin on these services is a key financial characteristic. For the third quarter of 2025, the gross margin was 71.1%. That's an improvement of 230-basis points compared to the same period last year. Honestly, this margin expansion is primarily due to volume leverage and operational efficiencies kicking in, even with a higher Zio AT product mix slightly offsetting some of those gains.

Growth drivers for this revenue are clear. The increase in Zio service volume came from a few places. We saw continued momentum in core long-term continuous monitoring accounts, sustained demand for the Zio AT device, and growth from new innovative channel customer accounts. Plus, there is a growing contribution from international markets, which is a clear expansion vector.

Here's a quick look at how the key 2025 numbers stack up against the recent quarter's performance:

Metric	Full Year 2025 Guidance	Q3 2025 Actual
Revenue	$735 million to $740 million	$192.9 million
Gross Margin	Slightly exceed full year 2024	71.1%
Year-over-Year Revenue Growth	24% to 25%	30.7%

Perhaps the most defintely key milestone for the revenue stream's sustainability is the expected shift to positive cash flow. Management now anticipates that iRhythm Technologies, Inc. will be slightly free cash flow positive for full year 2025. This follows a strong Q3 2025 where the company achieved record free cash flow generation, coming in at $20.0 million for the quarter.

The sources of this revenue growth can be broken down further by adoption patterns:

• Growth in demand for Zio services within core existing accounts.
• Continued market penetration of Zio AT.
• Progress within innovative value-based care accounts.
• Contribution from international markets.
• New store growth accounted for approximately 60% of the year-over-year volume growth in Q3 2025.

Finance: draft 13-week cash view by Friday.