iRhythm Technologies Inc
For the period ended Sep 30, 2024. Filed Oct 30, 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.
Sep 30, 2024 · Filed Oct 30, 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
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | ||
| Cash flows from operating activities | ||
| Net loss | $(111,956) | $(84,707) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 15,426 | 11,434 |
| Stock-based compensation | 59,970 | 53,358 |
| Amortization of premium and accretion of discounts, net | (1,236) | (3,627) |
| Amortization of operating lease right-of-use assets | 3,747 | 4,243 |
| Amortization of debt discount | 2,173 | 12 |
| Change in fair value of strategic investments | (1,059) | — |
| Provision for credit losses and contractual allowances | 52,737 | 51,655 |
| Acquired in-process research and development | 32,069 | — |
| Loss on extinguishment of debt | 7,589 | — |
| Impairment charges | 641 | — |
| Other | 217 | (378) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (68,680) | (51,804) |
| Inventory | (1,041) | 1,885 |
| Prepaid expenses and other current assets | 8,165 | (1,549) |
| Other assets | (614) | (21,796) |
| Accounts payable and accrued liabilities | (8,379) | 10,605 |
| Deferred revenue | (275) | 332 |
| Operating lease liabilities | (5,336) | (3,792) |
| Net cash used in operating activities | (15,842) | (34,129) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (27,098) | (26,907) |
| Purchases of marketable securities | (2,426) | (109,202) |
| Maturities of marketable securities | 98,700 | 136,500 |
| Purchases of strategic investments | (55,000) | (3,000) |
| Purchases of acquired in-process research and development | (15,000) | — |
| Net cash used in investing activities | (824) | (2,609) |
| 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 | (2,100) | — |
| Payment of Braidwell debt and termination costs | (78,660) | — |
| Proceeds from issuance of 2029 Notes | 661,250 | — |
| Payments of issuance costs for 2029 Notes | (17,424) | — |
| 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 | 5,486 | 5,352 |
| Net cash provided by financing activities | 508,394 | 5,352 |
| Effect of exchange rate changes on cash | (8) | 32 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 491,720 | (31,354) |
| Cash, cash equivalents, and restricted cash, beginning of period | 36,173 | 78,832 |
| Cash, cash equivalents, and restricted cash, end of period | $527,893 | $47,478 |
Condensed Consolidated Statements of Cash Flows (Continued)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | $519,535 | $47,478 |
| Restricted cash, long-term | 8,358 | — |
| Total cash, cash equivalents and restricted cash | $527,893 | $47,478 |
| Supplemental disclosures of cash flow information: | ||
| Interest paid | $6,389 | $2,186 |
| Cash taxes paid | $602 | $794 |
| Cash received from tenant improvement allowances | $736 | $1,603 |
| Non-cash investing and financing activities: | ||
| Property and equipment costs included in accounts payable and accrued liabilities | $173 | $89 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $— | $4,520 |
| Capitalized stock-based compensation in property and equipment | $5,530 | $5,596 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.