iRhythm Technologies Inc
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 20, 2025
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, | |||
|---|---|---|---|
| 2024 · 2023 · 2022 | |||
| Cash flows from operating activities | |||
| Net loss | $(113,289) | $(123,406) | $(116,155) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 20,715 | 16,348 | 13,405 |
| Stock-based compensation | 75,978 | 77,204 | 57,740 |
| Amortization of premium and accretion of discounts, net | (1,350) | (5,040) | (474) |
| Amortization of operating lease right-of-use assets | 5,062 | 5,796 | 6,204 |
| Amortization of debt discount | 2,796 | 15 | 44 |
| Change in fair value of strategic investments | (1,902) | — | — |
| Provision for credit losses and contractual allowances | 73,463 | 69,628 | 58,349 |
| Acquired in-process research and development | 32,371 | — | — |
| Loss on extinguishment of debt | 7,589 | — | — |
| Impairment charges | 641 | 11,078 | 23,164 |
| Other | 432 | 322 | 220 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (91,920) | (81,193) | (61,837) |
| Inventory | (224) | 979 | (5,108) |
| Prepaid expenses and other current assets | 5,305 | (11,036) | (862) |
| Other assets | 3,221 | (22,787) | (6,200) |
| Accounts payable and accrued liabilities | (7,408) | 17,325 | 11,480 |
| Deferred revenue | (374) | 255 | 2 |
| Operating lease liabilities | (7,716) | (5,589) | (2,984) |
| Net cash provided by (used in) operating activities | 3,390 | (50,101) | (23,012) |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (33,942) | (40,424) | (29,830) |
| Purchases of marketable securities | (118,241) | (164,285) | (188,569) |
| Sales of marketable securities | — | — | 34,965 |
| Maturities of marketable securities | 101,200 | 206,500 | 131,000 |
| Purchases of strategic investments | (57,000) | (3,000) | — |
| Purchase of acquired in-process research and development | (15,000) | — | — |
| Net cash used in investing activities | (122,983) | (1,209) | (52,434) |
| Cash flows from financing activities | |||
| Payment of SVB term loan and termination costs | (37,751) | — | (21,466) |
| Proceeds from SVB term loan | — | — | 35,000 |
| 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 | 8,473 | 8,820 | 13,182 |
| Net cash provided by financing activities | 511,381 | 8,820 | 26,716 |
| Effect of exchange rate changes | (6) | (169) | — |
| Net increase (decrease) in cash and cash equivalents | 391,782 | (42,659) | (48,730) |
| Cash and cash equivalents, beginning of year | 36,173 | 78,832 | 127,562 |
| Cash and cash equivalents, end of year | $427,955 | $36,173 | $78,832 |
| Reconciliation of cash, cash equivalents and restricted cash | |||
|---|---|---|---|
| Cash and cash equivalents | $419,597 | $36,173 | $78,832 |
| Restricted cash, long term | $8,358 | $— | $— |
| Total cash, cash equivalents and restricted cash | $427,955 | $36,173 | $78,832 |
| Supplemental disclosures of cash flow information: | |||
| Interest paid | $6,389 | $2,960 | $3,317 |
| Cash taxes paid | $923 | $1,130 | $287 |
| Cash paid for operating lease liabilities | $15,177 | $14,105 | $13,593 |
| Cash received from tenant improvement allowances | $736 | $1,603 | $3,279 |
| Non-cash investing and financing activities: | |||
| Property and equipment costs included in accounts payable and accrued liabilities | $275 | $1,888 | $160 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $4,009 | $4,403 | $7,686 |
| Capitalized stock-based compensation in property and equipment | $6,779 | $7,383 | $5,863 |
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