Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | IRHYTHM TECHNOLOGIES, INC. |
Entity Central Index Key | 0001388658 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 4 Months Ended | 5 Months Ended | 12 Months Ended | 15 Months Ended | 102 Months Ended | ||
Oct. 03, 2021 | May 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2022 | Jan. 11, 2021 | |
Pay vs Performance Disclosure [Table] | |||||||
Pay vs Performance [Table Text Block] | Year Summary Compensation Table Total for Kevin King 1 ($) Summary Compensation Table Total for Michael Coyle 2 ($) Summary Compensation Table Total for Douglas Devine 3,5 ($) Summary Compensation Table Total for Quentin Blackford 4 ($) Compensation Actually Paid to Kevin King 1,6 ($) Compensation Actually Paid to Michael Coyle 2,6 ($) Compensation Actually Paid to Douglas Devine 3,5,6 ($) Compensation Actually Paid to Quentin Blackford 4,6 ($) Average Summary Compensation Table Total for Non-PEO NEOs 5 ($) Average Compensation Actually Paid to Non-PEO NEOs 5,6 ($) (a) (b) (b) (b) (b) (c) (c) (c) (c) (d) (e) 2022 — — — 7,259,859 — — — 4,565,129 4,422,956 4,044,855 2021 30,709 461,422 5,699,043 9,241,346 (9,810,498) 461,422 2,902,001 18,165,499 3,360,713 136,903 2020 4,885,062 — — — 24,257,924 — — — 1,769,376 6,988,690 Year Value of Initial Fixed $100 Investment based on: 7 Net Income ($ Millions) Revenue 8 ($ Millions) TSR ($) Peer Group TSR ($) (a) (f) (g) (h) (i) 2022 137.57 113.65 (116) 411 2021 172.84 126.45 (101) 323 2020 348.38 126.42 (44) 265 | ||||||
Company Selected Measure Name | revenue | ||||||
Named Executive Officers, Footnote [Text Block] | Kevin King was our President and Chief Executive Officer from July 2012 through January 11, 2021.Michael Coyle was our President and Chief Executive Officer from January 12, 2021, through June 1, 2021.Douglas Devine was our Interim Chief Executive Officer from June 1, 2021, through October 3, 2021. Mr. Devine also served as our Chief Financial Officer from June 2020 until August 2022. In accordance with Item 402(v) of Regulation S-K, this table and the accompanying narrative present Mr. Devine as a PEO for 2021 and a Non-PEO NEO for 2020 and 2022. Quentin Blackford has been our President and Chief Executive Officer since October 4, 2021. The individuals comprising the Non-PEO NEOs for each year are listed below. As described above, this table and the accompanying narrative present Mr. Devine as a PEO for 2021 and a Non-PEO NEO for 2020 and 2022. 2020 2021 2022 Douglas Devine Mark Day Douglas Devine Mark Day Daniel Wilson Brice Bobzien Matthew Garrett David Vort Patrick Murphy Daniel Wilson Chad Patterson David Vort Minang Turakhia | ||||||
Peer Group Issuers, Footnote [Text Block] | The Peer Group TSR set forth in this table utilizes the NASDAQ Biotechnology Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the NASDAQ Biotechnology Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. | ||||||
Adjustment To PEO Compensation, Footnote [Text Block] | Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. With respect to Mr. Coyle’s 2021 compensation, no adjustments from the Summary Compensation Table total were needed to calculate his Compensation Actually Paid. Year Summary Compensation Table Total for Kevin King Exclusion of Stock Awards for Kevin King Inclusion of Equity Values for Kevin King Compensation Actually Paid to Kevin King 2021 30,709 — (9,841,207) (9,810,498) 2020 4,885,062 (3,494,769) 22,867,631 24,257,924 Year Summary Compensation Table Total for Douglas Devine Exclusion of Stock Awards for Douglas Devine Inclusion of Equity Values for Douglas Devine Compensation Actually Paid to Douglas Devine 2021 5,699,043 (4,558,057) 1,761,015 2,902,001 Year Summary Compensation Table Total for Quentin Blackford Exclusion of Stock Awards for Quentin Blackford Inclusion of Equity Values for Quentin Blackford Compensation Actually Paid to Quentin Blackford 2022 7,259,859 (5,787,285) 3,092,554 4,565,129 2021 9,241,346 (9,078,651) 18,002,804 18,165,499 The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: Year Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Kevin King Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Kevin King Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Kevin King Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Kevin King Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Kevin King Total - Inclusion of Equity Values for Kevin King 2021 111,923 (3,142,539) — (2,200,824) (4,609,767) (9,841,207) 2020 12,029,686 10,488,005 — 349,940 — 22,867,631 Year Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Douglas Devine Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Douglas Devine Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Douglas Devine Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Douglas Devine Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Douglas Devine Total - Inclusion of Equity Values for Douglas Devine 2021 4,097,025 (1,940,348) — (395,662) — 1,761,015 Year Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Quentin Blackford Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Quentin Blackford Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Quentin Blackford Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Quentin Blackford Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Quentin Blackford Total - Inclusion of Equity Values for Quentin Blackford 2022 6,700,517 (3,839,457) — 231,494 — 3,092,554 2021 18,002,804 — — — — 18,002,804 | ||||||
Non-PEO NEO Average Total Compensation Amount | $ 4,422,956 | $ 3,360,713 | $ 1,769,376 | ||||
Non-PEO NEO Average Compensation Actually Paid Amount | $ 4,044,855 | 136,903 | 6,988,690 | ||||
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. With respect to Mr. Coyle’s 2021 compensation, no adjustments from the Summary Compensation Table total were needed to calculate his Compensation Actually Paid. Year Average Summary Compensation Table Total for Non-PEO NEOs Average Exclusion of Stock Awards for Non-PEO NEOs Average Inclusion of Equity Values for Non-PEO NEOs Average Compensation Actually Paid to Non-PEO NEOs 2022 4,422,956 (3,698,489) 3,320,388 4,044,855 2021 3,360,713 (2,663,369) (560,441) 136,903 2020 1,769,376 (1,326,682) 6,545,996 6,988,690 Year Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEOs Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs Total - Average Inclusion of Equity Values for Non-PEO NEOs 2022 3,538,871 (224,870) — 6,387 — 3,320,388 2021 1,886,257 (1,718,016) — (728,682) — (560,441) 2020 2,902,502 2,998,304 — 645,190 — 6,545,996 | ||||||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Company Total Shareholder Return (“TSR”) The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years. | ||||||
Compensation Actually Paid vs. Net Income [Text Block] | Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and our net income during the three most recently completed fiscal years. | ||||||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Revenue The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our revenue during the three most recently completed fiscal years. | ||||||
Total Shareholder Return Vs Peer Group [Text Block] | Description of Relationship Between Company TSR and Peer Group TSR The following chart compares our cumulative TSR over the three most recently completed fiscal years to that of the NASDAQ Biotechnology Index over the same period. | ||||||
Tabular List [Table Text Block] | Revenue Adjusted EBITDA Unit volume growth | ||||||
Total Shareholder Return Amount | $ 137.57 | 172.84 | 348.38 | ||||
Peer Group Total Shareholder Return Amount | 113.65 | 126.45 | 126.42 | ||||
Net Income (Loss) | $ (116,000,000) | $ (101,000,000) | $ (44,000,000) | ||||
Company Selected Measure Amount | 411,000,000 | 323,000,000 | 265,000,000 | ||||
PEO Name | Douglas Devine | Michael Coyle | Quentin Blackford | Kevin King | |||
Additional 402(v) Disclosure [Text Block] | In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officers (“PEOs”) and Non-PEO NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs; these amounts reflect the Summary Compensation Table total with certain adjustments as described in the following table and footnotes.We determined revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2022. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years. | ||||||
Measure [Axis]: 1 | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Measure Name | Revenue | ||||||
Measure [Axis]: 2 | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Measure Name | Adjusted EBITDA | ||||||
Measure [Axis]: 3 | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Measure Name | Unit volume growth | ||||||
Quentin Blackford [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
PEO Total Compensation Amount | $ 7,259,859 | $ 9,241,346 | |||||
PEO Actually Paid Compensation Amount | 4,565,129 | 18,165,499 | |||||
Kevin King [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
PEO Total Compensation Amount | 30,709 | $ 4,885,062 | |||||
PEO Actually Paid Compensation Amount | (9,810,498) | 24,257,924 | |||||
Michael Coyle [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
PEO Total Compensation Amount | 461,422 | ||||||
PEO Actually Paid Compensation Amount | 461,422 | ||||||
Douglas Devine [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
PEO Total Compensation Amount | 5,699,043 | ||||||
PEO Actually Paid Compensation Amount | 2,902,001 | ||||||
PEO [Member] | Quentin Blackford [Member] | Equity Awards Reported Value [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | (5,787,285) | (9,078,651) | |||||
PEO [Member] | Quentin Blackford [Member] | Equity Award Adjustments [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | 3,092,554 | 18,002,804 | |||||
PEO [Member] | Quentin Blackford [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 6,700,517 | 18,002,804 | |||||
PEO [Member] | Quentin Blackford [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 3,839,457 | 0 | |||||
PEO [Member] | Quentin Blackford [Member] | Equity Awards Granted During the Year, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | |||||
PEO [Member] | Quentin Blackford [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 231,494 | 0 | |||||
PEO [Member] | Quentin Blackford [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | |||||
PEO [Member] | Kevin King [Member] | Equity Awards Reported Value [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | 0 | 3,494,769 | |||||
PEO [Member] | Kevin King [Member] | Equity Award Adjustments [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | 9,841,207 | 22,867,631 | |||||
PEO [Member] | Kevin King [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 111,923 | 12,029,686 | |||||
PEO [Member] | Kevin King [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 3,142,539 | 10,488,005 | |||||
PEO [Member] | Kevin King [Member] | Equity Awards Granted During the Year, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | |||||
PEO [Member] | Kevin King [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 2,200,824 | 349,940 | |||||
PEO [Member] | Kevin King [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 4,609,767 | 0 | |||||
PEO [Member] | Douglas Devine [Member] | Equity Awards Reported Value [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | (4,558,057) | ||||||
PEO [Member] | Douglas Devine [Member] | Equity Award Adjustments [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | 1,761,015 | ||||||
PEO [Member] | Douglas Devine [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 4,097,025 | ||||||
PEO [Member] | Douglas Devine [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 1,940,348 | ||||||
PEO [Member] | Douglas Devine [Member] | Equity Awards Granted During the Year, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 0 | ||||||
PEO [Member] | Douglas Devine [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 395,662 | ||||||
PEO [Member] | Douglas Devine [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 0 | ||||||
Non-PEO NEO [Member] | Equity Awards Reported Value [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | 3,698,489 | 2,663,369 | 1,326,682 | ||||
Non-PEO NEO [Member] | Equity Award Adjustments [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount | 3,320,388 | 560,441 | 6,545,996 | ||||
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 3,538,871 | 1,886,257 | 2,902,502 | ||||
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 224,870 | 1,718,016 | 2,998,304 | ||||
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 | ||||
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | 6,387 | 728,682 | 645,190 | ||||
Non-PEO NEO [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||||||
Pay vs Performance Disclosure [Table] | |||||||
Adjustment to Compensation Amount, Equity Awards | $ 0 | $ 0 | $ 0 |