iRhythm Holdings - Public Comps and Valuation Multiples

iRhythm Holdings Overview

About iRhythm Holdings

iRhythm Holdings Inc formerly, iRhythm Technologies Inc is a digital healthcare company that creates trusted solutions that detect, predict, and prevent disease. Its principal business is the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services that it believes allow clinicians to diagnose certain arrhythmias quicker and with greater efficiency than other services that rely on traditional technology. Each Zio System combines an FDA-cleared and CE-marked, wire-free, patch-based, 14-day wearable biosensor that continuously records electrocardiogram (ECG) data with a proprietary, FDA-cleared, CE-marked cloud-based data analytic software to help physicians monitor patients and diagnose arrhythmias.

Founded

2006

HQ

Employees

2K+

Website

irhythmtech.com

Sectors

Medical Devices
DeepTech
HealthTech

Financials

LTM Revenue $738M

LTM EBITDA $62.4M

EV

$5.4B

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iRhythm Holdings Financials

As of December 2025, iRhythm Holdings reported last 12-month revenue of $738M and EBITDA of $62.4M.

In the same period, iRhythm Holdings generated $521M in LTM gross profit and -$45.1M in net income.

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iRhythm Holdings P&L

In the most recent fiscal year, iRhythm Holdings reported revenue of $592M and EBITDA of -$74.1M.

iRhythm Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$738M	XXX	$592M	XXX	XXX	XXX
Gross Profit	$521M	XXX	$408M	XXX	XXX	XXX
Gross Margin	71%	XXX	69%	XXX	XXX	XXX
EBITDA	$62.4M	XXX	-$74.1M	XXX	XXX	XXX
EBITDA Margin	8%	XXX	-13%	XXX	XXX	XXX
EBIT	-$54.7M	XXX	-$82.5M	XXX	XXX	XXX
EBIT Margin	-7%	XXX	-14%	XXX	XXX	XXX
Net Profit	-$45.1M	XXX	-$113M	XXX	XXX	XXX
Net Margin	-6%	XXX	-19%	XXX	XXX	XXX
Net Debt	XXX	XXX	$227M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for iRhythm Holdings including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $738M. EBITDA for the last twelve months was $62.4M. In the most recent fiscal year, iRhythm Holdings achieved $592M in revenue and -$74.1M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$738M	Analyst estimates available to subscribers	$592M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$521M	Analyst estimates available to subscribers	$408M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	70.6% gross margin	Analyst estimates available to subscribers	68.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$62.4M	Analyst estimates available to subscribers	-$74.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	8.5% EBITDA margin	Analyst estimates available to subscribers	-12.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$54.7M	Analyst estimates available to subscribers	-$82.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-7.4% EBIT margin	Analyst estimates available to subscribers	-13.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$45.1M	Analyst estimates available to subscribers	-$113M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-6.1% net profit margin	Analyst estimates available to subscribers	-19.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$227M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for iRhythm Holdings

This financial data table provides comprehensive performance metrics for iRhythm Holdings, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

iRhythm Holdings generated $738M in revenue over the last twelve months.
The company achieved $62.4M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $521M.
Net income over the last twelve months reached -$45.1M.

Fiscal Year Performance

In the most recent fiscal year, iRhythm Holdings reported $592M in total revenue.
Fiscal year EBITDA was -$74.1M.
The company maintained a gross profit margin of 68.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was -12.5%.
Net profit margin reached -19.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for iRhythm Holdings. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

iRhythm Holdings Stock Performance

iRhythm Holdings has current market cap of $5.3B, and EV of $5.4B.

Market Cap Evolution

iRhythm Holdings Stock Data

As of January 15, 2026, iRhythm Holdings's stock price is $163.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$5.4B	$5.3B	XXX	XXX	XXX	XXX	$-1.51

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iRhythm Holdings Valuation Multiples

iRhythm Holdings's trades at 7.4x EV/Revenue multiple, and 86.9x EV/EBITDA.

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iRhythm Holdings Financial Valuation Multiples

As of January 15, 2026, iRhythm Holdings has market cap of $5.3B and EV of $5.4B.

Equity research analysts estimate iRhythm Holdings's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

iRhythm Holdings has a P/E ratio of -116.5x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$5.3B	XXX	$5.3B	XXX	XXX	XXX
EV (current)	$5.4B	XXX	$5.4B	XXX	XXX	XXX
EV/Revenue	7.4x	XXX	7.4x	XXX	XXX	XXX
EV/EBITDA	86.9x	XXX	86.9x	XXX	XXX	XXX
EV/EBIT	-99.2x	XXX	-99.2x	XXX	XXX	XXX
EV/Gross Profit	10.4x	XXX	n/a	XXX	XXX	XXX
P/E	-116.5x	XXX	-116.5x	XXX	XXX	XXX
EV/FCF	124.6x	XXX	124.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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iRhythm Holdings Margins & Growth Rates

iRhythm Holdings's last 12 month revenue growth is 17%

iRhythm Holdings's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.2M for the same period.

iRhythm Holdings's rule of 40 is -3% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

iRhythm Holdings's rule of X is 51% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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iRhythm Holdings Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	17%	XXX	16%	XXX	XXX	XXX
EBITDA Margin	8%	XXX	8%	XXX	XXX	XXX
EBITDA Growth	60%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-3%	XXX	25%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	51%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	12%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	83%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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