IRTC // iRhythm Holdings Inc.

DES <GO> NASDAQ CIK 0001388658 ↗

Health Care • Medical/Dental Instruments

$127.80 ▲ +3.81 (+3.07%)

MKT CAP: $4.21B • VOL: 550.3K

52W L $101 52W H $192

ALTMAN Z

3.01 SAFE

PIOTROSKI

7 / 9

IRTC // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 61/100 [C-] (-1 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C-

RQD CONFIDENCE

60 / 100 -1D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Cautious Neutral

01 MASSIVE / SEC XBRL

Forensic Fundamentals

12 / 20

NEUTRAL

FCF +200% vs NI +60.2% • ROIC-WACC -19.9% • Z 3.01

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

13 / 20

SOLID

20 BASE - 7 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON IRTC)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 80/100 Z-SCORE: +2.15σ

IRTC Accounting Gap: Net Income (+60.2%) Outpaced OCF (+220%) With +80.1% Working-Capital Build

CASH CONVERSION GAP

-159.8% (NI vs OCF)

RECEIVABLES / WC BLOAT

+80.1% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on iRhythm Holdings Inc. (IRTC) exposes a +-159.8% Cash Conversion Gap as YoY Net Income growth (+60.2%) diverged from Operating Cash Flow growth (+220.0%). Non-cash current assets and receivables expanded +80.1% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

IRTC // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -4.48%📐 HORIZONTAL RANGE

2026-10-30O $128.1H $128.1L $122.4C $123.4VOL 533.4K

RES: $152.1SUP: $99.37SMA50: $115.0SMA200: $122.4

IRTC // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

UNDERWEIGHT CONVICTION: 42/100

BEAR 0

100 BULL

iRhythm Holdings Inc. (IRTC) exhibits 70.6% gross margins and -13.5% return on invested capital within Health Care (Medical/Dental Instruments), balanced against a 24.0x enterprise multiple and 6.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 70.6% gross profitability converts into -7.7% operating margin and -13.5% ROIC, outpacing sector cost of capital.

ROIC: -13.5% // GM: 70.6%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +26.2% paired with 0.82% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +26.2% // FCF YLD: 0.82%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 3.01 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.

ALTMAN Z: 3.01 // F-SCORE: 7/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 24.0x trailing P/E (30.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 24.0x // EV/EBITDA: —

02. Options Skew & Event Volatility Risk

Options market prices a ±6.8% implied move with a 0.69 put/call ratio around $125.00 max pain.

IMPL MOVE: ±6.8% // P/C: 0.69

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Medical/Dental Instruments require continuous execution to defend -6.0% net margins.

NET MARGIN: -6.0% // D/E: 2.38x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 30.0x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.98).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E —

FORWARD P/E 30.0x

EV / EBITDA —

FCF YIELD 0.82%

GROSS MARGIN 70.6%

OPERATING MARGIN -7.7%

NET MARGIN -6.0%

ROIC % -13.5%

REV GROWTH YOY +26.2%

DILUTED EPS TTM $-1.37

DEBT / EQUITY 2.38x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 63.2

5Y EQUITY BETA 0.98

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // IRTCPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $116.94

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for IRTC & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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