iRhythm Technologies (IRTC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and iRhythm published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. iRhythm reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted net income (loss) per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• GAAP results include $49.8 million of litigation settlement charges, for the Baxter patent litigation and a securities class action, net of expected insurance recoveries. iRhythm paid Baxter $50.0 million on July 31, 2026 to settle all patent litigation between them.
• iRhythm closed its acquisition of VitalConnect on October 5, 2026, after the quarter ended, so VitalConnect is not in these figures.

Source: iRhythm Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How iRhythm splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• iRhythm's Contracted third-party payors revenue was $111 million in Q3 2026, up 12% from $99.0 million in Q3 2025, 50% of total revenue.
• iRhythm's Centers for Medicare & Medicaid Services revenue was $57.2 million in Q3 2026, up 20% from $47.6 million in Q3 2025, 26% of total revenue.
• iRhythm's Healthcare institutions revenue was $37.4 million in Q3 2026, up 14% from $32.8 million in Q3 2025, 17% of total revenue.
• iRhythm's Non-contracted third-party payors revenue was $16.1 million in Q3 2026, up 19% from $13.5 million in Q3 2025, 7% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, iRhythm said:

“For the full year 2026, iRhythm expects revenue between $890 million and $895 million, which includes approximately $16 million of expected VitalConnect revenue contribution from the October 5, 2026 acquisition close through year-end.”

“iRhythm also expects adjusted EBITDA margin between 15.5% and 16.0%, inclusive of VitalConnect.”

Source: iRhythm Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the IRTC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for iRhythm's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

iRhythm earns its revenue from Zio ambulatory cardiac monitoring services, billed to whoever pays for the test. In Q3 2026 contracted third-party payors paid $110.8 million, or 50% of the $221.6 million total, the Centers for Medicare & Medicaid Services $57.2 million (26%), healthcare institutions $37.4 million (17%) and non-contracted third-party payors $16.1 million (7%). (iRhythm Form 10-Q, Q3 2026, Nov 5, 2026)

iRhythm offers three monitor options: the Zio monitor, Zio XT and Zio AT systems, designed for up to 14 days of wear. It describes Zio monitor as 72% smaller, 62% lighter and 23% thinner than Zio XT. Reimbursement depends on CPT codes, and CMS sets national payment rates for them each year through the Medicare Physician Fee Schedule. (iRhythm Form 10-K, 2025, Feb 19, 2026; iRhythm Form 10-Q, Q3 2026, Nov 5, 2026)

Revenue rose 14.9% to $221.6 million from $192.9 million. iRhythm attributed the increase mainly to volume: revenue volume grew for both Zio monitor and Zio AT across payors, CMS and healthcare institutions, with higher volumes from larger healthcare enterprise accounts. The 10-Q says overall average selling price increased modestly. (iRhythm Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026; iRhythm Form 10-Q, Q3 2026, Nov 5, 2026)

Receivables are concentrated. At September 30, 2026, CMS was 20% of iRhythm's accounts receivable, up from 14% at December 31, 2025, and one healthcare institution customer was 19%, up from 15%. (iRhythm Form 10-Q, Q3 2026, Nov 5, 2026)

iRhythm's GAAP net loss widened to $29.9 million, or $0.90 per diluted share, from $5.2 million, or $0.16, because of $49.8 million of litigation settlement charges, which cover the Baxter patent settlement and a securities class action settlement net of expected insurance recoveries. Adjusted net income was $27.8 million, or $0.82 per diluted share, against an adjusted net loss of $0.06 a year earlier. (iRhythm Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

iRhythm's adjusted figures also exclude $6.6 million of business transformation costs, of which $6.0 million related to the VitalConnect acquisition and $1.2 million of patent litigation expenses. Stock-based compensation, $19.5 million in the quarter, is excluded from adjusted EBITDA but not from adjusted net income. (iRhythm Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

GAAP EPS uses 33.1 million weighted-average shares, the same count for basic and diluted. Adjusted EPS uses 37.9 million, which adds 4.5 million shares for the senior convertible notes and adds back $3.3 million of note interest. (iRhythm Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

iRhythm gives full-year revenue and adjusted EBITDA margin guidance in its release. With Q3 2026 results it raised 2026 revenue guidance to $890 million to $895 million, including about $16 million from VitalConnect after the October 5, 2026 close, and adjusted EBITDA margin guidance to 15.5% to 16.0%. It does not guide EPS and says the margin outlook cannot be reconciled to GAAP without unreasonable effort. (iRhythm Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover iRhythm, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones iRhythm's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning IRTC is on is IRTC a buy or a sell?, what analysts expect next is on the IRTC forecast, and what the company does is on the iRhythm Technologies (IRTC) stock page.

Every number on this page can be traced to a document iRhythm published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.