iRhythm stock soars on Street-beating Q1; C-Suite changes continue

iRhythm Technologies (NSDQ:IRTC) posted first-quarter results today that beat the consensus forecast on Wall Street and increased its outlook for the rest of the year, sending the stock up nearly 30% in after-hours trading.

The San Francisco-based developer of remote external electrocardiogram monitors reported a net loss of $50.6 million, or -$1.71 per share, on sales of $92.4 million for the three months ended March 31, 2022. That was a 24.3% increase in sales and a smaller loss than the -$27.8 million (or -$0.95 per share) reported in Q1 2021.

“Our strong first-quarter results are indicative of the momentum we carried into 2022 with an acceleration in daily registrations leading to record quarterly volumes,” President and CEO Quentin Blackford said in a news release. “New account openings were up 15% quarter-over-quarter, and we realized significant growth in our core U.S. market. Evidence supporting the clinical superiority of the Zio serv…

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