What does CMS — concentration of credit risk (as a percent) mean?

This metric measures the proportion of total accounts receivable or revenue exposure attributed to the Centers for Medicare & Medicaid Services relative to the company's total portfolio. A high concentration indicates significant reliance on government reimbursement cycles and policy decisions, which can impact cash flow predictability. It serves as a key indicator of counterparty risk and the potential volatility associated with public sector payment dependencies.

iRhythm Holdings, Inc. (IRTC) CMS — Concentration of credit risk (as a percent)

Screener

Other product segments

Contracted third-party payors

51%-1.9%

Customer A

17%0.0%

Non-contracted third-party payors

6%-14.3%

Similar metrics at other companies

KREFOther — Concentration of credit risk (as a percent)

6.5%+5.5pp

KREFOther Europe — Concentration of credit risk (as a percent)

1%+0.7pp

CPRIAccessories — Concentration risk (as a percent)

14%+0.1pp

CPRIApparel — Concentration risk (as a percent)

3.2%-0.2pp

CPRIFootwear — Concentration risk (as a percent)

6.2%0.0pp

CPRIOther — Concentration risk (as a percent)

1.7%0.0pp

Other financials

Income statement

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Revenue$224.2M+20.1%

Gross profit$163.2M+22.8%

Operating income-$2.5M+86.4%

Net income-$381.0K+97.3%

EPS (diluted)-$0.01+97.7%

Balance sheet

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Cash & equivalents$255.0M-19.7%

Total debt$76.3M-12.1%

Total equity$186.0M+79.4%

Total assets$1.1B+13.4%

Cash flow

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Operating cash flow$51.1M+84.7%

CapEx$13.6M+30.8%

Free cash flow$37.5M+117%

Valuation

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Market cap$4.21B-16.0%

Enterprise value$4.03B-15.7%

P/S5.1×-2.5×

Profitability

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Gross margin71.5%+1.7pp

Operating margin-3.3%-1.5pp

Net margin-7.3%-3.1pp

FCF margin4.7%—

Returns & leverage

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Return on equity-53.1%-17.4pp

Debt / equity0.4×-0.4×

Current ratio3.9×-1.2×

Where this comes from

Reported directly by iRhythm Holdings, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ConcentrationRiskPercentage1.

The source filing: iRhythm Holdings, Inc.’s 10-Q, filed August 6, 2026.

Filed: Aug 6, 2026, 5:21 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001388658-26-000072

Line item	Three Months Ended June 30, 2026 / Amount	Three Months Ended June 30, 2026 / % of Revenue	Three Months Ended June 30, 2025 / Amount	Three Months Ended June 30, 2025 / % of Revenue	Six Months Ended June 30, 2026 / Amount	Six Months Ended June 30, 2026 / % of Revenue	Six Months Ended June 30, 2025 / Amount	Six Months Ended June 30, 2025 / % of Revenue
Contracted third-party payors	$113,783	51%	$97,719	52%	$220,588	52%	$181,522	52%
Centers for Medicare & Medicaid Services	58,550	26%	44,481	24%	109,938	26%	82,593	24%
Healthcare institutions	37,782	17%	31,830	17%	67,936	16%	58,503	17%
Non-contracted third-party payors	14,057	6%	12,657	7%	25,100	6%	22,746	7%
Total	$224,172		$186,687		$423,562		$345,364

Item 1. Financial Statements (Unaudited):

FAQ

What is iRhythm Holdings, Inc.'s CMS — concentration of credit risk (as a percent)?: iRhythm Holdings, Inc. (IRTC) reported CMS — concentration of credit risk (as a percent) of 26% in Q2 2026.
What does CMS — concentration of credit risk (as a percent) mean?: This metric measures the proportion of total accounts receivable or revenue exposure attributed to the Centers for Medicare & Medicaid Services relative to the company's total portfolio. A high concentration indicates significant reliance on government reimbursement cycles and policy decisions, which can impact cash flow predictability. It serves as a key indicator of counterparty risk and the potential volatility associated with public sector payment dependencies.