iRhythm Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
IRTC$86.06-3.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 · 2022 · 2021 | |||
| Cash flows from operating activities | |||
| Net loss | $(123,406) | $(116,155) | $(101,361) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 16,348 | 13,405 | 9,842 |
| Stock-based compensation | 77,204 | 57,740 | 54,527 |
| Amortization of premium and accretion of discounts, net | (5,040) | (474) | 1,641 |
| Provision for doubtful accounts and contractual allowances | 69,628 | 58,349 | 37,074 |
| Amortization of operating lease right-of-use assets | 5,796 | 6,204 | 6,752 |
| Impairment charges | 11,078 | 23,164 | — |
| Other | 337 | 264 | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (81,193) | (61,837) | (53,572) |
| Inventory | 979 | (5,108) | (4,960) |
| Prepaid expenses and other current assets | (11,036) | (862) | (2,329) |
| Other assets | (22,787) | (6,200) | (1,831) |
| Accounts payable | (1,973) | (2,993) | 6,135 |
| Accrued liabilities | 19,298 | 14,473 | 7,946 |
| Deferred revenue | 255 | 2 | 2,119 |
| Operating lease liabilities | (5,589) | (2,984) | 264 |
| Net cash used in operating activities | (50,101) | (23,012) | (37,753) |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (40,424) | (29,830) | (28,067) |
| Purchases of marketable securities | (164,285) | (188,569) | (122,184) |
| Sales of marketable securities | — | 34,965 | — |
| Maturities of marketable securities | 206,500 | 131,000 | 255,515 |
| Purchase of strategic investment | (3,000) | — | — |
| Net cash (used in) provided by investing activities | (1,209) | (52,434) | 105,264 |
| Cash flows from financing activities | |||
| Payment of loans | — | (21,389) | (11,667) |
| Proceeds from term loans | — | 35,000 | — |
| Proceeds from issuance of common stock in connection with employee equity incentive plans | 8,820 | 13,182 | 8,943 |
| Tax withholding upon vesting of restricted stock awards | — | — | (25,853) |
| Payment of issuance costs for long-term debt | — | (77) | — |
| Net cash provided by (used in) financing activities | 8,820 | 26,716 | (28,577) |
| Effect of exchange rate changes | (169) | — | — |
| Net (decrease) increase in cash and cash equivalents | (42,659) | (48,730) | 38,934 |
| Cash and cash equivalents, beginning of year | 78,832 | 127,562 | 88,628 |
| Cash and cash equivalents, end of year | $36,173 | $78,832 | $127,562 |
| Supplemental disclosures of cash flow information: | |||
| Interest paid | $2,960 | $3,317 | $1,194 |
| Cash taxes paid | $1,130 | $287 | $— |
| Cash received from tenant improvement allowances | $1,603 | $3,279 | $3,263 |
| Non-cash investing and financing activities: | |||
| Property and equipment costs included in accounts payable and accrued liabilities | $1,888 | $160 | $9 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $4,403 | $7,686 | $6,625 |
| Capitalized stock-based compensation in property and equipment | $7,383 | $5,863 | $3,593 |
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