iRhythm Technologies (NSDQ:IRTC) posted second-quarter results this week that beat the consensus on Wall Street.
The San Francisco-based company reported losses of $20.4 million, or -75¢ per share, on sales of $50.9 million for the three months ended June 30, for a sales loss of -3% compared with Q2 2019.
Earnings per share were -75¢, 7¢ ahead of The Street, where analysts were looking for sales of $42.2 million.
“Despite the challenges presented by the pandemic, we have continued to deliver our Zio service without interruption to the physicians and patients that rely on it. Our team recognized the need for high-quality care has never been greater and I could not be prouder of the commitment we have demonstrated,” CEO Kevin King said in a news release.
“Second quarter results were encouraging, despite the COVID-19 impact felt early in the quarter. We saw a steady pace of recovery in registration rates throughout the quarter that exceeded our initial expectations.”
iRhythm is not providing 2020 financial guidance due to the uncertainties surrounding the COVID-19 pandemic.
Shares in IRTC were down -6.93% to $171.61 in pre-market trading.