Irhythm Technologies Intrinsic Value Calculation – IRHYTHM TECHNOLOGIES Reports Q2 Earnings Results for FY2023
August 6, 2023
🌥️Earnings Overview
On August 3 2023, IRHYTHM TECHNOLOGIES ($NASDAQ:IRTC) reported their financial results for Q2 of FY2023, which ended on June 30 2023. Total revenue experienced a 21.6% year-over-year increase, totaling USD 124.1 million. Compared to the same quarter of FY2022, net income decreased from -23.9 million to -18.5 million.
Share Price
The company’s stock opened at $100.2 and closed at $97.5, down 3.7% from its previous closing price of $101.2. This drop was a result of the company not meeting analysts’ expectations for the quarter. The company’s disappointing results have caused concerns among investors, as its stock now trades at a discount compared to its competitors in the industry. IRHYTHM TECHNOLOGIES is expected to provide more clarity on its future growth prospects in the upcoming earnings call in order to restore investor confidence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Irhythm Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 452.06 | -99.24 | -22.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Irhythm Technologies. More…
| Operations | Investing | Financing |
| -19.08 | -30.65 | 10.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Irhythm Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 429.49 | 205.61 | 7.35 |
Key Ratios Snapshot
Some of the financial key ratios for Irhythm Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.6% | – | -21.1% |
| FCF Margin | ROE | ROA |
| -11.1% | -26.7% | -13.9% |
Analysis – Irhythm Technologies Intrinsic Value Calculation
At GoodWhale, we have conducted an analysis of IRHYTHM TECHNOLOGIES‘s fundamentals. After careful consideration, we have determined that the fair value of IRHYTHM TECHNOLOGIES share is around $170.0, calculated by our proprietary Valuation Line. This suggests that the stock is currently trading at $97.5, which is a 42.7% discount from its fair value. As such, we believe that IRHYTHM TECHNOLOGIES stock is an attractive option for investors. More…
Peers
The competition between iRhythm Technologies Inc and its competitors is fierce. Each company is striving to develop the best technology and products to help cancer patients. While iRhythm Technologies Inc is focused on developing products to help patients with cancer, its competitors are also working hard to develop their own products to help cancer patients.
– Advanced Oncotherapy PLC ($LSE:AVO)
Advanced Oncotherapy PLC is a UK-based company that provides proton therapy treatment for cancer patients. The company has a market capitalization of 114.21 million as of 2022 and a return on equity of -27.6%. Advanced Oncotherapy PLC is a provider of proton therapy, which is a type of cancer treatment that uses protons to destroy cancer cells. The company’s proton therapy system is called the LIGHT system, which is currently in clinical trials.
– VeriTeQ Corp ($OTCPK:VTEQ)
VeriTeQ Corp is a provider of digital vaccine and health passport technology solutions. The company’s solutions are designed to increase patient safety and improve clinical outcomes by providing real-time visibility into the vaccination and immunization status of patients. VeriTeQ’s vaccine and health passport technology is used by healthcare providers, pharmaceutical companies, and government agencies to track and verify the vaccination and immunization status of patients.
– Bone Biologics Corp ($NASDAQ:BBLG)
Biologics Corp is a company that develops and commercializes biologic products for the treatment of orthopedic diseases and conditions. The company has a market cap of 7.46M and a ROE of -16.65%.
Summary
Investors analyzing IRHYTHM TECHNOLOGIES may be encouraged by the recent Q2 earnings report, which saw total revenue rise by 21.6% year-over-year to USD 124.1 million. Net income was -18.5 million, also an improvement from the -23.9 million reported in the same quarter of the previous year. Despite this, the stock did not respond positively and moved down on the day of the report release. Nonetheless, investors may view this as a buying opportunity in IRHYTHM TECHNOLOGIES and consider taking a long position in the company.
