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  "documentTitle": "iRhythm Technologies, Inc. (IRTC)",
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  "presentationDate": "2025-08-18 00:00:00",
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      "text": "To the extent our concerns about CCT operations necessitate a re-shoring to comply with government regulations, or even customer preferences, it would represent another profitability headwind for the Company.",
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      "text": "CEO Blackford Comments About Remediation Costs and New Quality Infrastructure Costs",
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      "kind": "other",
      "text": "iRhythm Has Already Been Wildly Optimistic on Regulatory Cost Projections",
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      "text": "iRhythm has long been highly unprofitable, and that was with a compliance and quality infrastructure that was clearly deemed woefully inadequate by the FDA. We expect continued requisite investments in this area to be a source of negative operating leverage.",
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      "text": "I'm sure we're going to talk about FDA remediation activities. There is incremental $15 million of spend going towards those activities. Ideally, we're wrapping those up by this year, and that will fall off and be a nice source of leverage for 2026. — iRhythm CEO Blackford",
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      "text": "Source: Bloomberg, iRhythm Q2 2024 earnings call transcript, iRhythm Q3 2024 earnings call transcript",
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      "text": "iRhythm CFO Wilson on Q3 2024 Earnings Call, 10/30/24: 'We now expect incremental expenses related to these activities to be approximately $11 million to $13 million in 2024 and a $15 million run rate per year going forward with these expenses continuing into 2025.'",
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      "text": "iRhythm CFO Wilson on Q2 2024 Earnings Call, 8/1/24: '...we believe that $8 million to $10 million is the appropriate way to think about it for 2024.... As of now, I don't see any indication that this is going to extend meaningfully longer. Now, should something creep into 2025, we'll certainly talk about that.'",
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      "text": "iRhythm CEO Blackford at BAML Conference, 5/13/25: 'I'm sure we're going to talk about FDA remediation activities. There is incremental $15 million of spend going towards those activities. Ideally, we're wrapping those up by this year, and that will fall off and be a nice source of leverage for 2026.'",
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      "text": "iRhythm CEO Blackford on Q3 2024 Earnings Call, 10/30/24: '...we have made significant resource investments in our regulatory and quality organizations from roughly 20 people two years ago to more than 100 individuals today.'",
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      "text": "We Question The Margin Implications Of The Company's Supposed New Compliance Infrastructure",
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