iRhythm Technologies Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 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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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | ||
| Cash flows from operating activities | ||
| Net loss | $(45,667) | $(39,109) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 5,131 | 3,576 |
| Stock-based compensation | 20,991 | 18,251 |
| Amortization of premium and accretion of discounts, net | (908) | (1,137) |
| Amortization of operating lease right-of-use assets | 1,244 | 1,365 |
| Amortization of debt discount | 578 | — |
| Provision for doubtful accounts and contractual allowances | 16,289 | 21,425 |
| Loss on extinguishment of debt | 7,589 | — |
| Other | 106 | 176 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (44,518) | (21,064) |
| Inventory | (923) | (1,404) |
| Prepaid expenses and other current assets | 7,813 | (1,053) |
| Other assets | (4,694) | (3,189) |
| Accounts payable and accrued liabilities | (12,877) | (8,966) |
| Deferred revenue | (238) | 435 |
| Operating lease liabilities | (1,945) | (59) |
| Net cash used in operating activities | (52,029) | (30,753) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (9,776) | (8,423) |
| Purchases of marketable securities | (2,426) | (33,757) |
| Maturities of marketable securities | 52,200 | 46,000 |
| Net cash provided by investing activities | 39,998 | 3,820 |
| Cash flows from financing activities | ||
| Payment of SVB term loan and termination costs | (37,751) | — |
| Proceeds from Braidwell debt | 75,000 | — |
| Payments of issuance costs for Braidwell debt | (1,803) | — |
| Payment of Braidwell debt and termination costs | (78,660) | — |
| Proceeds from issuance of 2029 Notes | 661,250 | — |
| Payments of issuance costs for 2029 Notes | (16,592) | — |
| Purchases of capped call transactions | (72,407) | — |
| Purchase of treasury stock | (25,000) | — |
| Proceeds from issuance of common stock in connection with employee equity incentive plans | 604 | 905 |
| Net cash provided by financing activities | 504,641 | 905 |
| Effect of exchange rate changes on cash | (4) | — |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 492,606 | (26,028) |
| Cash, cash equivalents, and restricted cash, beginning of period | 36,173 | 78,832 |
| Cash, cash equivalents, and restricted cash, end of period | $528,779 | $52,804 |
| Supplemental disclosures of cash flow information: | ||
| Interest paid | $1,595 | $678 |
| Cash taxes paid | $11 | $8 |
| Cash received from tenant improvement allowances | $— | $1,603 |
| Non-cash investing and financing activities: | ||
| Property and equipment costs included in accounts payable and accrued liabilities | $23 | $203 |
| Capitalized stock-based compensation in property and equipment | $1,649 | $1,648 |
Condensed Consolidated Statements of Cash Flows (Continued)
The following table provides a breakdown of cash and cash equivalents, and restricted cash reported within the statement of cash flows:
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | $520,421 | $52,804 |
| Restricted cash, long-term | 8,358 | — |
| Total cash, cash equivalents and restricted cash | $528,779 | $52,804 |
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