Track market-moving stories before they get noisy

LOS ANGELES--(BUSINESS WIRE)--OlivePoint Capital (“OlivePoint”), a real estate investment firm focused on differentiated middle-market real estate opportunities, announced the acquisition of 3507 Jack Northrop Avenue, a 40,553-square-foot aviation-connected R&D and advanced manufacturing campus located adjacent to Hawthorne Municipal Airport in Los Angeles, California, in partnership with a global alternative asset management firm.

OlivePoint acquires rare aviation-connected R&D campus near Hawthorne Airport in Los Angeles with long-term credit tenancy.

Share The property is 100% leased on a long-term basis to a leading investment-grade electric vehicle and advanced manufacturing company and comprises a highly specialized R&D and advanced manufacturing facility on a rare fee-simple hangar structure. The asset combines durable credit-backed cash flow with functional scarcity, specialized infrastructure and a strategic location within Hawthorne’s aerospace and advanced manufacturing corridor. The acquisition reflects OlivePoint’s conviction in specialized, mission-critical facilities that combine durable long-term cash flow, strong tenant credit, functional scarcity and exposure to secular demand drivers.

“3507 Jack Northrop is exactly the type of differentiated real estate we seek to own, a highly specialized facility, in a supply-constrained market, leased to high-quality credit and deeply embedded in the tenant’s operations,” said Adrian Bejarano, Managing Partner and Co-Founder of OlivePoint Capital. “We believe specialized R&D and advanced manufacturing facilities with long-duration cash flow can offer an attractive combination of downside protection and long-term value creation, particularly when located in markets with strong innovation ecosystems and limited competitive supply.”

The property is particularly unique given its fee-simple ownership structure. Most airport-adjacent aviation facilities in the United States are owned or occupied pursuant to ground leases or other leasehold structures. By contrast, 3507 Jack Northrop represents a rare fee-simple aviation-connected hangar asset that accounts for less than 1% of comparable aviation hangar inventory nationally. Combined with direct runway access, aviation zoning and a fully improved R&D and hangar campus, the property offers an institutional-quality real estate profile that is exceptionally unique.

Located in a Leading Advanced Manufacturing Corridor

Located in the heart of Hawthorne’s aerospace and advanced manufacturing corridor, the property sits within close proximity to SpaceX, The Boring Company, Tesla and other leading aerospace and technology companies. The South Bay has emerged as one of the country’s most important clusters for advanced manufacturing, defense technology, and aerospace engineering, supported by a deep technical labor pool, proximity to major transportation infrastructure and a long history of aerospace innovation.

Specialized Infrastructure and Long-Term Optionality

The property’s specialized infrastructure includes a column-free airplane hangar with 40-foot clear height, industrial R&D improvements, flex office and support space, and aviation-related improvements. The facility also includes highly customized tenant improvements supporting advanced testing, engineering and R&D operations. These improvements reinforce the long-term durability of the asset’s income profile.

OlivePoint believes the property’s long-term lease structure, contractual rent growth, mission-critical use, fee-simple ownership and location within a leading advanced manufacturing cluster provide a durable income profile and meaningful long-term optionality.

About OlivePoint Capital

OlivePoint Capital is a real estate investment firm focused on acquiring and managing differentiated real estate opportunities across the United States. OlivePoint targets middle-market opportunities where complexity, capital market dislocation or specialized asset characteristics create the potential for attractive risk-adjusted returns. The firm focuses on industrial, retail, multifamily, credit-oriented and special situations investments, with an emphasis on durable cash flow, downside protection and hands-on execution.

For more information, visit: www.olivepointcapital.com

RTX stock is moving. See the chart and price action here.  Trump Unleashes on IranEquity futures slid deep into negative territory as Trump posted a pair of fiery messages on Truth Social, framing Iran’s military as effectively neutralized. 

“Iran’s Military is a complete and total mess,” Trump wrote. “Much of it, like their Navy and Air Force, doesn’t even exist anymore — They have been completely defeated. Iran is all talk and no action. The Bully of the Middle East is DEAD!!!”

The president then turned his frustration toward the ongoing ceasefire talks, which have dragged on for weeks without resolution.

“They’ve taken too long to negotiate a deal that would have been great for them,” Trump wrote. “Now they will have to pay the price.”

In a second post, Trump touted the U.S. naval blockade of Iran, calling it “the most successful Blockade in the history of Naval Warfare,” adding that Iran is “doing ZERO business, not paying their military, or any of their bills, and quickly becoming a FAILED NATION.”

Markets ReactHis aggressive commentary rattled equities in early premarket trading. The S&P 500 last sat at 7,386.65, down 0.26%, with the SPDR S&P 500 ETF Trust (NYSE:SPY) down 0.49%. 

The Nasdaq fell 0.71% to 28,910 — pacing as the worst performer among the major indexes. The Dow Jones Industrial Average held relatively steady at 50,707.00. 

Oil was the clear beneficiary of the renewed geopolitical tension. WTI crude jumped 1.69% to $89.69 per barrel, while Brent crude climbed 1.37% to $92.70. 

Both moved sharply higher on fears that any renewed military action near the Strait of Hormuz could further choke global supply.

Northrop Grumman (NYSE:NOC) gained 0.24% to $550.00, according to Benzinga Pro data. 

With ceasefire talks stalled and Trump signaling a harder line, traders are bracing for more volatility — particularly in energy and defense — as the morning session approaches.

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While the post offered no new policy announcements, it served as a reminder that geopolitical risk remains firmly on investors’ radar.

Defense Names Could BenefitMarkets typically don’t wait for conflict to escalate before repricing risk.

Periods of rising military tension often send investors toward aerospace and defense companies viewed as beneficiaries of increased security spending, missile-defense demand and military modernization programs.

The Investor QuestionThe interesting part isn’t whether Trump’s comments immediately change the situation with Iran.

It’s whether investors begin paying more attention to defense exposure after months dominated by artificial intelligence, semiconductors and software stocks.

Recent negotiations between Washington and Tehran have produced conflicting narratives, with both sides offering different accounts of what a potential agreement would include and whether a final deal is close.

That uncertainty is often enough to keep defense stocks in the conversation.

For investors, Trump’s latest warning may be less about diplomacy and more about a familiar market reality: when geopolitical tensions rise, money frequently finds its way back into defense.

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Kratos Defense & Security Solutions (KTOS 1.66%) stock soared 13.8% through 10 a.m. ET Thursday after The Wall Street Journal reported the Trump Administration may make financial investments in U.S. drone manufacturers.

The proposed subsidies appear designed to promote development of low-cost disposable attack drones commonly referred to as first-person view or "FPV," rather than the more advanced XQ-58 Valkyrie drone aircraft that is Kratos's marquee product. As such, the news may not apply to Kratos.

But then again, it might.

Image source: Kratos Defense.

What we know about the new drone plan As WSJ reports, the Trump administration is pursuing deals with "a group of drone companies." Privately held Performance Drone Works and Neros Technologies are believed to be two of the companies in the running for government cash, as is publicly traded Unusual Machines (UMAC 5.48%).

Kratos is not mentioned in the WSJ story.

That may sound dispositive, but negotiations are ongoing, and the Pentagon -- which would be responsible for making the investments -- is "continuing to vet the companies." Potentially, that could mean not all the named companies will get funding... or that Kratos won't.

Today's Change

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What's next for Kratos? If Kratos does win government support, what form might that take?

Prior investments by the Trump Administration have been styled as promoting industries critical to national security, while also creating the potential for the government to profit if the investments pay off. For example, when the Department of Energy awarded a 10-year supply contract to rare-earth element miner MP Materials (MP +0.20%) last year, it also demanded stock in MP.

Any deal with Kratos could take a similar form, or comprise loans conditioned on hitting milestones under the Drone Dominance Program, or no-strings-attached grants. For the time being, we simply don't know how this will play out -- but stay tuned.

Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Kratos Defense & Security Solutions. The Motley Fool recommends MP Materials. The Motley Fool has a disclosure policy.

Steve Eisman said on a recent podcast: “I’m sort of bewildered, given that there’s a war going on, why people would be selling defense stocks.” The reason that bewilderment matters to your portfolio is sitting on top of a wall of capital nobody is talking about.

Peter Arment, on the same segment, laid out the number: “$66 billion between 2020 and 2024 has come into the defense industry through venture capital and private equity.” Silicon Valley is rebuilding the Pentagon’s supply chain in real time, and the recent correction handed retail a window that doesn’t typically open twice.

1. Red Cat Holdings (RCAT): The Small-Cap Drone Pure-Play Start with the name nobody on CNBC is leading with. Red Cat Holdings (NASDAQ:RCAT) is the textbook “purpose-built, lower-cost” archetype Arment described. Its Black Widow ISR drone is the Army’s Short Range Reconnaissance winner, the Blue Ops unit is pushing into unmanned surface vessels, and CEO Jeff Thompson is openly chasing the Pentagon’s drone budget line. Thompson said: “Secretary of War Hegseth has signaled budget allocations of up to $74 billion for UAV and USV procurement… in this arena, the Factory is the Weapon.”

Q1 FY26 told you the volume curve is bending: revenue hit $15.47 million, up 849.3% year over year, gross margin flipped to 12.7% from negative 52.1%, and management is guiding to a $150 million to $180 million annual revenue target. The stock is already responding, up 78% year to date and 56% in the past week alone.

The catch is that RCAT is one product line. If you want the same drone tailwind with a balance sheet behind it, the next ticker is where the institutional money is hiding.

2. AeroVironment (AVAV): The Switchblade and BlueHalo Combination AeroVironment (NASDAQ:AVAV | AVAV Price Prediction) is the publicly traded proxy for the Anduril-adjacent ecosystem. Switchblade loitering munitions are the weapon the Pentagon actually orders by the thousand, and the BlueHalo acquisition that closed in May 2025 bolted on space, cyber, and directed-energy capabilities that fit exactly into the FY2027 Department of War priority stack.

The order book tells the story. Q3 FY26 produced revenue of $408.05 million, up 143.4% year over year, a record funded backlog of $1.10 billion, and year-to-date bookings of $2.1 billion at a 1.6x book-to-bill. The stock is still down 11% year to date despite ripping 31% in the past week, which is precisely the correction Eisman flagged. The COO bought 1,800 shares at $194.39 on April 13, 2026, then the stock surged.

Hardware is half the story. The other half is the software brain that tells every drone, satellite, and Switchblade where to point. That brings us to the heavyweight.

3. Palantir (PLTR): The Software Layer of the New Defense Stack Palantir (NASDAQ:PLTR) is Silicon Valley’s original defense disruptor. Maven Smart System, TITAN, and the Army’s next-generation battle command stack all run on Foundry and AIP. Every drone in this article eventually needs the data fusion layer Palantir sells, which is why CEO Alex Karp can plant a flag like this: “Palantir’s Rule of 40 score is now an incredible 127%… We are an n of 1.”

Q4 FY25 numbers were the kind that justify the multiple. Revenue of $1.41 billion grew 70% year over year, U.S. commercial revenue jumped 137% to $507 million, and GAAP operating income hit $575.4 million at a 41% margin. The complication is valuation. The stock trades at a P/E around 203 and is down 19% year to date, with Polymarket traders pricing only 29% odds of PLTR reclaiming $150 by month-end.

If you believe AI is the operating system of modern warfare, Palantir is the toll bridge. If you want the company actually launching the satellites that feed that software, keep reading.

4. Rocket Lab (RKLB): Vertically Integrated Space and Hypersonics Rocket Lab (NASDAQ:RKLB) sits on the Austin-to-Southern California corridor Arment described, and it just got picked for the program that defines the next decade of national security spending. CEO Peter Beck confirmed it: “selected to support the Department of War’s Space Based Interceptor program under Golden Dome for America in partnership with Raytheon.” Electron and HASTE launches are flying, Neutron medium-lift is on deck for later in 2026, and the satellite manufacturing arm is now writing eight-figure deals on its own.

The Q1 FY26 print backed it up. Revenue came in at $200.35 million, up 63.5% year over year, backlog grew 20.2% sequentially to $2.20 billion, and the $816 million Space Development Agency contract for 18 Tracking Layer Tranche 3 satellites is the largest single award in company history. The shares are up 112% year to date and 412% over the past year, and prediction markets already resolved every May upside target through $104 to YES.

One name remains, and it is the cleanest visual proof that the era of $100 million fighters is over.

5. Kratos Defense (KTOS): The Punchline of the “60 Primes” Thesis Kratos Defense & Security Solutions (NASDAQ:KTOS) is what Arment meant when he said “we’re going back to the ’80s, where there’s going to be 60 defense primes.” The Valkyrie XQ-58 is a jet-powered autonomous combat aircraft built to fly alongside crewed fighters, attritable on purpose, priced an order of magnitude below a manned platform. Add hypersonics, Zeus and Oriole solid rocket motors, and the jet engines that go inside everyone else’s drones, and Kratos is selling four of the FY2027 budget’s loudest line items at once.

CEO Eric DeMarco said: “Fiscal 2027 National Security spend is currently projected to be $1.5 trillion, an approximate $400 billion increase above Fiscal Year 2026.” Q1 FY26 already showed the operating leverage: revenue of $371 million, up 22.6% year over year, Unmanned Systems organic growth of 30.9%, and a 1.6x book-to-bill on $605.2 million of bookings. Valkyrie was just selected for the Northrop Grumman MUX TACAIR CCA program, with management planning to ramp production to roughly 40 aircraft per year by the end of 2027.

The setup: shares are down 14% year to date against an analyst target price of $113.05 on a stock trading near $65. I’ve been watching Kratos for the better part of two years, and this is the first quarter where the Valkyrie cadence, the hypersonic backlog, and the budget line items finally rhyme.

The Trade Setup The math is pretty simple.

Silicon Valley funneled $66 billion of venture and private equity capital into defense between 2020 and 2024, the FY2027 budget is opening a $400 billion delta above FY2026, and the publicly traded names that touch this capital stack just sold off into the news. The legacy primes are the share donors; these five sit on the receiving end of the share shift. Watch the FY2027 budget cadence and the next round of contract awards across these five names.

A month has gone by since the last earnings report for Kratos (KTOS - Free Report) . Shares have added about 11.2% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Kratos due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.

Kratos Defense Q1 Earnings and Revenues Surpass Estimates

Kratos Defense & Security Solutions, Inc. reported first-quarter 2026 adjusted earnings of 16 cents per share, which beat the Zacks Consensus Estimate of 13 cents by 26.3%. The bottom line also increased 33.3% from the year-ago quarter’s 12 cents.

Kratos Defense reported GAAP earnings of 7 cents per share compared with 3 cents in the year-ago quarter.

KTOS’ Total RevenuesTotal revenues were $371 million, which outpaced the Zacks Consensus Estimate of $344 million by 7.7%. The figure also rose 22.6% from $302.6 million recorded in the year-ago quarter.

Operational Update of Kratos DefenseKratos Defense’s selling, general and administrative expenses increased 19.9% year over year. Research and development expenses rose 7% compared with the prior-year quarter. Depreciation expenses climbed 46.2% year over year.

Expenses related to the amortization of intangible assets rose 176.2% from the year-ago figure.

The company reported operating income of $4.7 million, which decreased from the year-ago quarter’s $6.6 million.

It posted a consolidated book-to-bill ratio of 1.6 to 1, with bookings worth $605.2 million.

The total backlog at the end of the first quarter of 2026 was $1.635 billion compared with $1.212 billion at the end of the fourth quarter of 2025.

KTOS’ Segmental PerformanceUnmanned Systems: Revenues from this segment totaled $82.6 million compared with $63.1 million in the year-ago quarter. The increase was primarily driven by Valkyrie-related activity.

Kratos Government Solutions: Revenues from this segment amounted to $288.4 million compared with $239.5 million in the year-ago quarter. This increase was due to organic revenue growth across its Defense and Rocket Support business, Turbine Technologies and Microwave Products businesses, with organic revenue growth rates of 45.8%, 20.3% and 12.3%, respectively, year over year.

Financial Details of KTOSAs of March 29, 2026, cash and cash equivalents totaled $1.46 billion, up from $0.56 billion as of Dec. 28, 2025.

The company reported other current liabilities of $24.4 million as of March 29, 2026 compared with $9 million recorded as of Dec. 28, 2025.

The net cash used in operating activities amounted to $27.4 million during the first three months of 2026 compared with $29.2 million in the same period of 2025.

Kratos Defense’s GuidanceKTOS projects second-quarter 2026 revenues to be in the range of $400-$410 million. The Zacks Consensus Estimate for revenues is pegged at $401.3 million, which is at the lower end of the company’s guided range.

KTOS now expects 2026 revenues to be in the $1.7-$1.76 million range compared with the previous range of $1,595-$1,675 billion. The Zacks Consensus Estimate for revenues is pegged at $1.68 billion, lower than the company’s guided range.

Kratos Defense now expects operating cash flows to be in the range of $60-$70 million and free cash flow use to be in the band of $85-$105 million for 2026.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.

The consensus estimate has shifted -44% due to these changes.

VGM ScoresAt this time, Kratos has a poor Growth Score of F, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a score of F on the value side, putting it in the bottom 20% quintile for value investors.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Kratos has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Key Takeaways KTOS grew Unmanned Systems revenues nearly 31% organically, led by the XQ-58A Valkyrie program.Government Solutions saw double-digit growth; Defense Rocket Systems revenues rose nearly 46%.KTOS targets about 40 Valkyrie aircraft annually by 2027-end and is expanding hypersonic investments. Kratos Defense & Security Solutions, Inc. (KTOS - Free Report) continues to gain momentum in its Unmanned Systems segment, one of the company's key growth drivers. Revenues from the business grew nearly 31% organically, primarily supported by increased activity on the XQ-58A Valkyrie program. The segment also returned to operating profitability, reflecting the benefits of higher production volumes, improved execution, and greater operating leverage as the program scales.

The company’s Government Solutions segment also posted solid results. Defense Rocket Systems, Turbine Technologies, and Microwave Products all generated double-digit growth, with Defense Rocket Systems revenues increasing nearly 46% year over year. These businesses are increasingly aligned with Pentagon priorities surrounding missile defense, hypersonic weapons, propulsion systems, and advanced radar technologies.

Management believes a broader recapitalization of the U.S. defense industrial base is underway. As a result, Kratos Defense is investing aggressively in manufacturing facilities, hypersonic integration capabilities, drone production capacity, propulsion technologies, radar programs, and microwave electronics infrastructure. The company expects these investments to position it for larger production opportunities over the next several years.

A particularly important long-term initiative is Kratos Defense’s plan to produce approximately 40 Valkyrie aircraft annually by the end of 2027. The company is also expanding investments in solid rocket motors, jet engines for drones and missiles, and hypersonic systems, all of which could benefit from increasing defense modernization efforts.

Defense Companies Benefiting From Similar TrendsOther defense companies positioned to benefit from growing investments in autonomous systems, missile defense, and next-generation military technologies include:

Lockheed Martin (LMT - Free Report) continues to expand its presence in missile defense, advanced aircraft, and hypersonic programs, making it a major beneficiary of modernization spending.

RTX Corporation (RTX - Free Report) remains a leading supplier of missile systems, radar technologies, and air defense solutions that are increasingly important in evolving military strategies.

KTOS Stock’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 earnings per share indicates an increase of 32.73% year over year.

Image Source: Zacks Investment Research

KTOS Stock Trades at a DiscountIn terms of valuation, KTOS’ forward 12-month price-to-sales (P/S) is 5.75X, a discount to the industry’s average of 12.34X.

Image Source: Zacks Investment Research

KTOS Stock’s Price PerformanceIn the past three months, KTOS’ shares have lost 35.1% compared with the industry’s 0.2% decline.

Image Source: Zacks Investment Research

KTOS’ Zacks RankThe company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Issued on behalf of VisionWave Holdings, Inc.

As governments race to field affordable counter-drone and tactical autonomy systems, a wave of defense-tech consolidation is rewarding companies that can bolt advanced AI onto proven sensing hardware — and VisionWave is seeking to put itself at the center of that trend.

, /PRNewswire/ -- USA News Group News Commentary — The defense and security technology sector has spent the past two years being reshaped by a single, stubborn reality: cheap, weaponized drones are now a battlefield and homeland-security staple, and the systems built to detect, track, and defeat them have become one of the fastest-growing niches in defense spending. Against that backdrop, VisionWave Holdings, Inc. (NASDAQ: VWAV) has moved to acquire a controlling interest in an established 3D perception company, signaling its intent to combine AI-driven sensing with proven imaging hardware at exactly the moment the market is paying up for that combination.

On June 8, 2026, Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) announced a definitive agreement under which VisionWave will make a strategic equity investment of up to $17.5 million, payable in shares of VisionWave common stock, reflecting a post-investment valuation of approximately $34 million for Foresight. The structure gives VisionWave a path to a controlling 52% stake in Foresight while keeping both companies operating as independent, publicly traded entities. News of the deal sent Foresight shares sharply higher on the day of the announcement, while VisionWave traded up as well — a notable reaction for a transaction that is being paid in stock rather than cash.

For VisionWave, the move is less about a single acquisition and more about positioning. The company has spent 2026 assembling a defense-and-sensing platform, and folding in a perception specialist with visible-light, infrared, and neuromorphic sensor technology gives it hardware to pair with its own AI and radio-frequency systems. In a sector where the U.S. government is actively weighing direct financial support for domestic drone and counter-drone firms, owning the full stack — sensors, AI, and RF — is increasingly the price of admission.

Inside the VisionWave–Foresight Transaction

According to the definitive agreement, the transaction is staged in two parts. In Stage 1, VisionWave will receive 46% of Foresight's issued and outstanding ordinary shares in exchange for VisionWave common stock with an aggregate value of approximately $15.5 million. Upon achievement of a defined commercial milestone — specifically, the commencement of a binding pilot project using the integrated Perception Platform — VisionWave will receive an additional 6% stake in exchange for additional VisionWave shares valued at approximately $2 million.

Governance follows the money. VisionWave will have the right to appoint two directors to Foresight's board upon the Stage 1 closing, and one additional director upon the Stage 2 closing. The companies have been explicit that both will continue to operate as independent, publicly traded entities, and that the transaction remains subject to all required regulatory, stock-exchange, and shareholder approvals, along with other customary closing conditions.

The strategic logic centers on integration. Through the collaboration, Foresight's high-resolution visible-light, infrared, and neuromorphic sensor technologies are expected to be combined with VisionWave's AI and radio-frequency-based perception systems. The stated goal is to create more intelligent, real-time perception solutions for defense and security applications — including counter-unmanned aircraft systems, tactical unmanned systems, border protection, and critical infrastructure monitoring.

"This strategic investment from VisionWave represents an important opportunity to combine our proven perception expertise with advanced AI technologies," said Haim Siboni, Chief Executive Officer of Foresight. "We believe that it positions Foresight to offer more sophisticated, AI-driven solutions for the growing defense and security markets, where real-time intelligent perception is increasingly critical."

VisionWave Holdings describes itself as a defense and advanced sensing technology company developing AI-driven, RF-based sensing, autonomy, and computational acceleration technologies for defense, homeland security, and commercial infrastructure applications. Its stated mission is to connect defense innovation with civilian progress through shared core technologies deployed across air, land, and sea — a framing that maps directly onto the dual-use demand now driving the sector.

CONTINUED … Read this and more news for VisionWave Holdings at: https://usanewsgroup.com/vwav-landing

Why the Timing Matters: A Sector Bid Up by Drone Dominance

The deal lands in the middle of a remarkable run for U.S. defense-technology equities tied to drones and counter-drone systems. The Pentagon's "Drone Dominance" initiative has set a target of fielding roughly 300,000 lower-cost autonomous systems by the end of 2027, backed by a multi-hundred-million-dollar budget line, and the administration has reportedly explored providing loans and even direct equity stakes to domestic drone manufacturers. That policy backdrop has repeatedly lifted an entire peer group of listed names in 2026.

The investment thesis VisionWave is leaning into is straightforward: as the threat environment intensifies and procurement accelerates, the companies that can deliver intelligent, real-time perception — not just a sensor or just an algorithm, but the integrated system — are the ones positioned to win recurring government and commercial business. By moving to control a perception specialist, VisionWave is attempting to graduate from an early-stage platform story into a company with deployable hardware and a clearer commercialization path.

It is worth being clear-eyed about scale. VisionWave is a small-cap, early-stage platform company, and its own filings caution that certain initiatives are early-stage and exploratory, with no assurance of material contributions. The Foresight transaction is also paid in stock, subject to multiple approvals, and structured around a milestone that has not yet been achieved. Those are real execution variables that investors should weigh against the strategic upside.

The Company VisionWave Now Keeps

VisionWave is seeking to put itself squarely alongside a peer set of listed defense-technology names that the market has been rewarding throughout 2026. The contrast in scale and approach across that group helps frame both the opportunity and the risk in VisionWave's strategy.

The following peer comparisons are provided for illustrative and contextual purposes only and do not imply that VisionWave will achieve similar results, valuations, contract awards, or performance. These companies are significantly larger, more established, and have substantially greater resources, revenue bases, operating histories, and market presence than VisionWave, an early-stage platform company. Investors should not assume that VisionWave's strategy or the Foresight transaction will produce comparable outcomes.

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) sits at the large-program, system-integration end of the spectrum. On April 8, 2026, Kratos disclosed that it had been awarded an Other Transaction Agreement with a total potential value of up to $446.8 million, contingent on the exercise of all options, to serve as prime contractor on the U.S. Space Force's Ground Management and Integration agreement for the Resilient Missile Warning and Tracking program. Kratos is also closely watched for its XQ-58A Valkyrie "loyal wingman" program, which operates alongside manned fighter aircraft — a reminder of how much larger an established prime can be relative to an emerging platform company.

Red Cat Holdings, Inc. (NASDAQ: RCAT) anchors the tactical small-UAS and counter-drone side of the group. The company has been selected for the U.S. Army's Short Range Reconnaissance program of record and has pursued production work with Palantir on GPS-denied navigation. Red Cat's portfolio spans ISR and precision-mission drone families, illustrating how the market is assigning premium valuations to companies with both autonomy software and fielded hardware — the same dual-stack logic VisionWave is now pursuing through Foresight.

Ondas Holdings Inc. (NASDAQ: ONDS) has spent 2026 broadening from drone hardware into higher-margin defense software, most notably through a $196.6 million all-stock acquisition of defense software firm Omnisys. Ondas is positioned across multi-domain ISR, counter-UAS technologies, AI software, and defense communications infrastructure — a diversification path that, like VisionWave's, is built on the premise that integrated software-plus-hardware platforms command better economics than point products.

Unusual Machines, Inc. (NYSE American: UMAC) rounds out the comparison from the NDAA-compliant drone-parts manufacturing angle. The company has highlighted that its partner Powerus advanced to Phase II of the Defense Department's Drone Dominance Program with a low-cost, rapidly deployable, U.S.-manufactured drone platform. Unusual Machines underscores the supply-chain dimension of the sector's growth — the domestic-content and component sourcing that underpins the broader drone buildout VisionWave is aligning itself with.

Taken together, these names map the landscape VisionWave is entering: established primes with billion-dollar revenue bases, mid-cap autonomy and ISR specialists, and emerging suppliers. VisionWave is attempting to carve out a perception-platform position within that field, and the Foresight transaction is its clearest statement yet of how it intends to do so.

What Comes Next

With the definitive agreement signed, the near-term markers for investors are procedural and operational. The Stage 1 closing depends on regulatory, stock-exchange, and shareholder approvals. The Stage 2 stake hinges on the commencement of a binding pilot project using the integrated Perception Platform — the milestone that converts the partnership from a financing event into a commercial one. And the broader question is whether VisionWave can translate a controlling stake in a perception specialist into the kind of defense and security contracts that the sector's richer valuations are pricing in.

For a market that has spent 2026 bidding up anything connected to autonomous and counter-drone systems, VisionWave's play is a clean test of a simple thesis: that owning integrated perception — AI, RF, and proven sensors under one roof — is where durable value in defense technology is increasingly being created.

CONTINUED … Read this and more news for VisionWave Holdings at: https://usanewsgroup.com/vwav-landing

Track the signal, not the noise. Eagle Eye (eagle-eye.dev) delivers real-time investor intelligence across social, forum, and news sources.

CONTACT:

USA News Group
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SOURCES:

[1] Foresight Autonomous Holdings Ltd. — "Foresight Secures $17.5 Million Strategic Investment from VisionWave…" (GlobeNewswire, June 8, 2026; primary company release and source of all deal terms and the CEO quotation)

[2] Stocktwits / Yahoo Finance — "FRSX Stock Shoots Up 15% Today – Why Investors Are Cheering The Deal With VisionWave Holdings" (June 8, 2026):
https://finance.yahoo.com/markets/stocks/articles/frsx-stock-shoots-15-today-144908135.html

[3] The Globe and Mail — counter-drone sector commentary naming VWAV, KTOS, RCAT, ONDS, and UMAC (April 16, 2026):
https://www.theglobeandmail.com/investing/markets/stocks/KTOS/pressreleases/1344943/as-the-counter-drone-era-goes-mainstream-this-nasdaq-ai-defense-stock-just-landed-a-world-cup-deployment-order/

[4] Stocktwits — "Why ONDS, RCAT And Other Drone Stocks Are Surging In Overnight Trading" (Drone Dominance program, Omnisys acquisition; late May 2026):
https://stocktwits.com/news-articles/markets/equity/why-onds-rcat-and-other-drone-stocks-are-surging-in-overnight-trading/cZgi5MvResd

[5] CoinCentral — "Red Cat, Kratos and Unusual Machines Are Surging…" (Pentagon funding talks, program budget detail; June 2026):
https://coincentral.com/red-cat-kratos-and-unusual-machines-are-surging-is-this-the-start-of-a-drone-stock-supercycle/

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What happenedAccording to an SEC filing dated Feb. 17, 2026, RTW Investments disclosed a new position in iRhythm Holdings (IRTC +0.60%) after acquiring 1,181,990 shares during the fourth quarter. The fund’s quarter-end position in IRTC was valued at $210 million.

What else to knowThis is a new position for RTW Investments, representing 2.1% of its $9.98 billion 13F reportable assets under management as of Dec. 31, 2025.Top five holdings after the filing:NASDAQ:MDGL: $1.2 billion (11.6% of AUM)NASDAQ:INSM: $842.9 million (8.4% of AUM)NASDAQ:PTCT: $588.4 million (5.9% of AUM)NASDAQ:ARGX: $566.4 million (5.7% of AUM)NASDAQ:PTGX: $441.9 million (4.4% of AUM)As of March 19, 2026, shares of iRhythm Holdings were priced at $117.78, up 14.2% over the past year, underperforming the S&P 500 by 3.5 percentage points.Company OverviewMetricValueRevenue (TTM)$747.1 millionNet Income (TTM)-$44.6 millionPrice (as of market close Mar. 19, 2026)$117.78One-Year Price Change14.2%Company SnapshotOffers ambulatory ECG monitoring products, including the Zio XT and AT wearable patch-based biosensors, and a cloud-based data analytics platform for arrhythmia detection.Generates revenue primarily through sales of its Zio service, combining device sales with subscription-based monitoring and diagnostic services for healthcare providers.Targets healthcare institutions, physicians, and patients in the United States at risk for cardiac arrhythmias.iRhythm Holdings, Inc. is a digital healthcare company specializing in innovative cardiac monitoring solutions. Its core offering, the Zio platform, leverages wearable biosensors and advanced analytics to improve arrhythmia detection and diagnosis.

What this transaction means for investorsRTW Investments isn't a generalist fund making a casual bet -- it's a specialized healthcare and life sciences investor with deep sector expertise, which makes this move worth a closer look. Opening a brand-new position of this size signals real conviction: at roughly $210 million, the IRTC stake becomes RTW’s eleventh-largest holding -- representing about 2.1% of the fund's total 13F-reported portfolio -- a meaningful commitment from a manager that already holds concentrated positions in names like Madrigal Pharmaceuticals (MDGL +0.94%) and Insmed (INSM +1.43%).

iRhythm Holdings sits at an interesting intersection of medical devices and digital health. Its flagship Zio patch -- a discreet, wearable cardiac monitor -- has carved out a strong niche in ambulatory ECG monitoring, a market that's likely to grow as remote patient monitoring becomes more standard in cardiology. Unlike a traditional Holter monitor, the Zio system collects continuous data over days or weeks and runs it through a cloud-based analytics platform, giving physicians a much richer picture of a patient's heart rhythm. That combination of hardware, software, and services gives iRhythm a recurring revenue model that can be stickier than a simple device sale.

For retail investors interested in the digital health space, iRhythm represents a focused play on cardiac care innovation. Those who prefer broader exposure might also consider ETFs like the Health Care Select Sector SPDR Fund (XLV 0.10%) or the iShares U.S. Medical Devices ETF (IHI 0.13%), which provide diversified access to companies operating across health technology and medical devices. Either way, when a specialized healthcare fund with RTW's track record makes a move this size into a new name, it's a signal worth researching.

Andy Gould has positions in Argenx Se. The Motley Fool has positions in and recommends Argenx Se. The Motley Fool recommends Protagonist Therapeutics. The Motley Fool has a disclosure policy.

March 30, 2026 08:05 ET  | Source: iRhythm

Data presented at ACC.26 demonstrate a high prevalence of clinically actionable arrhythmias across CKM patient populations using the Zio® ambulatory ECG portfolio.1,2
Chief Medical Officer Mintu Turakhia, MD, MS, delivered the 57th Annual Louis F. Bishop Keynote on scaling AI in cardiology and translating advances into clinical practice.
iRhythm Academy launch expands access to clinician education at scale in ambulatory cardiac monitoring as the field continues to advance.
SAN FRANCISCO, March 30, 2026 (GLOBE NEWSWIRE) -- iRhythm Holdings, Inc. (NASDAQ: IRTC) announced results from three retrospective analyses presented at the American College of Cardiology (ACC) 2026 Annual Scientific Sessions in New Orleans, March 28–30, 2026, that add to the growing body of clinical evidence supporting the benefits of its Zio® ambulatory ECG monitoring service across patient populations.1,2 The data provide insights into the timing and incidence of clinically relevant arrhythmias and highlight opportunities to improve care for patients along the cardiovascular-kidney-metabolic (CKM) continuum.

iRhythm also highlighted its leadership in advancing AI in cardiology, with Chief Medical Officer Mintu Turakhia, MD, MS, Clinical Professor of Medicine at Stanford University, delivering the 57th Annual Louis F. Bishop Keynote, titled “Scaling AI in Cardiology: Moving From Paper and Podium to Product,” and announced the launch of iRhythm Academy, a clinician education platform.

High Prevalence of Clinically Actionable Arrhythmias Across the CKM Continuum, Highlighting Increased Risk for Arrhythmias in this Patient Population

Two abstracts presented at ACC.26 reported the results of retrospective analyses of the incidence of arrhythmias in patients across the CKM disease continuum.3,4 Each study utilized data from the iRhythm clinical data warehouse linked to commercial fee-for-service and government-sponsored plans claims data. Findings from both studies enhance the understanding of how CKM risk factors influence the incidence of arrhythmias, highlighting that clinically relevant arrhythmias are not limited to patients with more advanced comorbid conditions or disease states.

Arrhythmias in Patients with Diabetes and Chronic Kidney Disease Detected by Long-Term Ambulatory ECG Monitoring3 (Abstract #1474-105) evaluated the prevalence of arrhythmias detected in a cohort of 657,147 individuals in the U.S. who received 14-day continuous ambulatory monitoring linked to commercial fee-for-service or Medicare Advantage claims. The cohort had a mean age of 59 years and was 58% female. Clinically actionable arrhythmias were more commonly identified in patients with chronic kidney disease (CKD), with or without diabetes:

11% of patients had diabetes, 4% had chronic kidney disease, and 4% had both conditions—together representing nearly 20% of the overall cohort.After accounting for differences in age, clinically actionable arrhythmias affected 48% of patients with CKD and 47% of patients with both diabetes and CKD, compared with 39% of patients with diabetes alone and 35% of patients with neither condition.Arrhythmia risk increased across kidney-metabolic phenotypes, highest in CKD (with or without diabetes), with diabetes alone also increasing risk—highlighting the value of targeted rhythm monitoring in patient populations at higher risk for arrhythmia.
Incidence of Arrhythmias in Patients with Obesity Detected by Long-Term Ambulatory ECG Monitoring4 (Abstract # 1403-107) evaluated the prevalence of arrhythmias of arrhythmias detected 162,531 individuals in the U.S. who received 14-day long-term continuous monitoring (LTCM) with Zio and where BMI or weight-related diagnostic codes were available. The cohort had a mean age of 58 years and was 65% female. Higher body weight was associated with greater likelihood of atrial fibrillation (AF) detection:

The prevalence of detected AF increased with weight, rising from 4.5% in normal/underweight patients to 6.5% in patients with severe obesity.After accounting for differences in age, sex, and comorbidities, patients with severe obesity had nearly threefold higher odds of AF detection compared with normal/underweight patients (adjusted odds ratio of 2.8).Nearly two-thirds of patients in this cohort had obesity or severe obesity, highlighting excess weight as a common and potentially modifiable risk factor for AF.
Expanding Evidence Highlights the Opportunity for Earlier Detection and Diagnosis

Data presented at ACC.26 build on prior real-world evidence demonstrating that arrhythmias are common, early, and often silent across cardiometabolic patient populations. Findings from two large-scale, real-world studies5,6 presented at the American Diabetes Association’s 85th Scientific Sessions in June 2025 (ADA 2025) demonstrated that arrhythmias preceded 43% of diabetes and 59% of CKD cases in the study population. Many patients in one study subsequently developed clinically actionable arrhythmia or major cardiovascular events. Three large-scale real-world analyses presented at the American Heart Association Scientific Sessions 2025 (AHA 2025)7-9 similarly revealed arrhythmia risk emerging earlier across the CKM syndrome continuum. These findings are extended by ACC.26 data demonstrating that the Zio ambulatory ECG service has a high diagnostic yield in these patient populations,3,4 enabling earlier identification of clinically actionable arrhythmias.

With an estimated 27 million people in the U.S. at risk for undiagnosed arrhythmias each year,10 iRhythm is committed to reaching patients sooner and has been advancing a data-driven, proactive cardiac monitoring approach deployed with healthcare systems focused on population health management and value-based care goals. Building on this foundation, in 2025, iRhythm announced a collaboration with Lucem Health to apply predictive AI11 to flag patients at elevated risk for arrhythmias, including those with diabetes and CKD, enabling more targeted selection of patients for proactive monitoring and more timely diagnosis and clinical decision-making.

Scaling AI in Cardiology and Expanding Education at Scale

In addition to the data presentations at ACC.26, Mintu Turakhia, MD, MS, Chief Medical and Scientific Officer and EVP, Advanced Technologies at iRhythm, and Clinical Professor of Medicine at Stanford University, delivered the 57th Annual Louis F. Bishop Keynote, titled “Scaling AI in Cardiology: Moving From Paper and Podium to Product.” The keynote addressed the gap between advances in artificial intelligence and their translation into routine cardiovascular care.

Drawing on iRhythm’s platform, its application of advanced AI in cardiac monitoring, and 20-year history, Dr. Turakhia emphasized how AI must function as an infrastructural backbone—integrating multiple streams of data, extending AI to new clinical domains, operationalized within clinical workflows, and accountable for real-world outcomes.

“The primary barrier to impact is no longer technical development or model performance — most AI across diagnostics, clinical decision support, and other domains work well. We need to think of these tools not as point solutions or standalone tests, but rather as critical clinical infrastructure and integrated systems that are safely and responsibly deployed,” said Dr. Turakhia.

iRhythm also launched iRhythm Academy, an education platform offering interactive courses, webinars, publications, and micro-learning modules for healthcare professionals focused on ambulatory cardiac monitoring, extending access to education at scale as the field continues to advance.

iRhythm also announced an upcoming update to the MyZio® mobile app, which supports patients throughout their ECG monitoring journey with Zio, with the addition of Spanish-language functionality to support patient accessibility.12

Data presented at ACC.26 build on iRhythm’s comprehensive clinical evidence program, encompassing more than 135 original research manuscripts, insights derived from over 3 billion hours of curated heartbeat data, and nearly 12 million patient reports since the company’s inception13—underscoring its ongoing commitment to expanding evidence that supports improved patient outcomes.

About iRhythm Holdings
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as “anticipate,” “estimate,” “expect,” “intend,” “will,” “may,” “project,” “plan,” “believe,” “target,” and similar expressions that relate to future events or outcomes.

Forward-looking statements in this press release include, but are not limited to, statements regarding the significance and potential impact of the data presented; the clinical utility and performance of iRhythm’s Zio® ambulatory ECG monitoring service; the potential to enable earlier detection and diagnosis of arrhythmias; the application of artificial intelligence and predictive analytics to identify patients at elevated risk for arrhythmias; and the ability to expand access to clinician education and improve patient care through initiatives such as iRhythm Academy.

These statements are based on current assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the timing, interpretation, and acceptance of clinical data; the ability to translate findings into clinical practice; regulatory and reimbursement developments; market adoption of iRhythm’s products and services; and the risks described in the section entitled “Risk Factors” in iRhythm’s most recent filings with the Securities and Exchange Commission, including its Forms 10-K and 10-Q.

These forward-looking statements speak only as of the date of this press release, and iRhythm undertakes no obligation to update them, except as required by law.

Media Contact:
Kassandra Perry
[email protected]

Investor Contact:
Stephanie Zhadkevich
[email protected]

The Zio AT device is not intended for use in critical care patients because the reporting timeliness is not consistent with life-threatening arrhythmias such as ventricular fibrillation. Refer to Zio AT Clinical Reference Manual for additional information.Do not use Zio AT for patients with symptomatic episodes where variations in cardiac performance could result in immediate danger to the patient or when real-time or in-patient monitoring should be prescribed.Ashburner JM et al. “Arrhythmias in Patients with Diabetes and Chronic Kidney Disease Detected by Long-Term Ambulatory ECG Monitoring.” American College of Cardiology 2026 Annual Scientific Session & Expo, 2026. New Orleans, Louisiana.Battisti AJ. “Incidence of Arrhythmias in Patients with Obesity Detected by Long-Term Ambulatory ECG Monitoring.” American College of Cardiology 2026 Annual Scientific Session & Expo, 2026. New Orleans, Louisiana.“Incidence of Cardiac Arrhythmias in Patients with Diabetes: a Real-World Study.” American Diabetes Scientific Sessions, 2025; Chicago, Illinois.Russo P et al. “Incidence and Timing of Major Arrhythmias in T2D and CKD:A Real-World Analysis.” American Diabetes Scientific Sessions, 2025; Chicago, Illinois.Russo P et al. “Onset of Arrhythmias in the CKM Continuum: Real-World Insights From a National Cohort.” American Heart Association Scientific Sessions, 2025; New Orleans, Louisiana.Russo P et al. “CKD and CKM Syndrome: Accelerated Progression to Arrhythmias in a National Cohort.” American Heart Association Scientific Sessions, 2025; New Orleans, Louisiana.Russo P et al. “Arrhythmias as Early Predictors of Chronic Kidney Disease: Real-World Evidence From a National Cardio-Kidney-Metabolic Cohort.” American Heart Association Scientific Sessions, 2025; New Orleans, Louisiana.https://www.jacc.org/doi/10.1016/S0735-1097%2823%2902786 9 https://www.ajmc.com/view/assessment-of-variation-in-ambulatory-cardiac-monitoring-among-commercially-insured-patientsiRhythm internal estimate based on analysis of public and proprietary sources, including U.S. Census Bureau data, CDC healthcare utilization data, Medicare Public Use Files, IQVIA, Komodo Health, Definitive Healthcare, and peer-reviewed literature on arrhythmia prevalence, symptom presentation, and diagnostic pathways. Full source list available upon request.Predictive Arrhythmia Solutions does not represent functionality of any Zio branded medical device.The MyZio® mobile app for patients is not a medical device and is not intended to diagnose, treat, cure, or prevent any disease.Data on file. iRhythm Technologies, 2025.

Posted by Defense World Staff on Apr 6th, 2026

MSP Recovery (NASDAQ:MSPR – Get Free Report) and iRhythm Technologies (NASDAQ:IRTC – Get Free Report) are both medical companies, but which is the better stock? We will compare the two companies based on the strength of their risk, analyst recommendations, institutional ownership, valuation, dividends, earnings and profitability.

Profitability This table compares MSP Recovery and iRhythm Technologies’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets MSP Recovery -7,328.48% -326.80% -81.27% iRhythm Technologies -5.96% -28.15% -3.35% Analyst Ratings This is a breakdown of recent ratings for MSP Recovery and iRhythm Technologies, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score MSP Recovery 1 0 0 0 1.00 iRhythm Technologies 1 1 11 2 2.93 iRhythm Technologies has a consensus target price of $209.46, indicating a potential upside of 79.33%. Given iRhythm Technologies’ stronger consensus rating and higher probable upside, analysts clearly believe iRhythm Technologies is more favorable than MSP Recovery.

Valuation and Earnings This table compares MSP Recovery and iRhythm Technologies”s top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio MSP Recovery $9.81 million 0.05 -$360.50 million ($572.83) 0.00 iRhythm Technologies $747.14 million 5.05 -$44.55 million ($1.40) -83.43 iRhythm Technologies has higher revenue and earnings than MSP Recovery. iRhythm Technologies is trading at a lower price-to-earnings ratio than MSP Recovery, indicating that it is currently the more affordable of the two stocks.

Volatility and Risk MSP Recovery has a beta of -2.8, meaning that its stock price is 380% less volatile than the S&P 500. Comparatively, iRhythm Technologies has a beta of 1.18, meaning that its stock price is 18% more volatile than the S&P 500.

Institutional & Insider Ownership 3.8% of MSP Recovery shares are held by institutional investors. 50.5% of MSP Recovery shares are held by insiders. Comparatively, 1.1% of iRhythm Technologies shares are held by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company will outperform the market over the long term.

Summary iRhythm Technologies beats MSP Recovery on 12 of the 15 factors compared between the two stocks.

About MSP Recovery (Get Free Report)

MSP Recovery, Inc. engages in the development of healthcare recoveries and data analytics software. It also focuses on the identification and recoveries of improper payments made by Medicare, Medicaid, and commercial insurance spaces using data and analytics. The company was founded by John H. Ruiz, Frank C. Quesada, and Diana Diaz on July 8, 2014 and is headquartered in Miami, FL.

About iRhythm Technologies (Get Free Report)

iRhythm Technologies, Inc., a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services. The company also provides the Zio Monitor System, a prescription-only, remote electrocardiogram (ECG) monitoring system that consists of a patch ECG monitor that records the electric signal from the heart continuously for up to 14 days and the Zio ECG Utilization Software System, which supports the capture and analysis of ECG data recorded by the Zio Monitor patch at the end of the wear period, including specific arrhythmia events detected by the ZEUS System; the Zio XT System is the previous generation of the Zio Monitor System and is a prescription-only, remote ECG monitoring system that consists of the Zio XT patch that records the electric signal from the heart continuously for up to 14 days; and the Zio AT system, a prescription-only, remote ECG monitoring system that similarly consists of the Zio AT patch that records the electric signal from the heart continuously for up to 14 days and the ZEUS System, but which also incorporates the Zio AT wireless gateway that provides connectivity between the Zio AT patch and the ZEUS System during the patient wear period. It has a development collaboration agreement with Verily Life Sciences LLC and Verity Ireland Limited to develop various next-generation atrial fibrillation screening, detection, or monitoring products. The company was incorporated in 2006 and is headquartered in San Francisco, California.

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Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of iRhythm Technologies, Inc. (NASDAQ: IRTC) breached their fiduciary duties to shareholders.

If you currently own iRhythm stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected]. Our firm would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

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Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

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April 27, 2026 08:05 ET  | Source: iRhythm

Real-world data presented at HRS 2026 add to the body of evidence supporting a shift away from short-duration Holter monitoring toward up to 14 days of continuous, uninterrupted monitoring with Zio® ambulatory ECG devices to reduce missed arrhythmias and provide a more complete assessment of arrhythmia burden, including in post-ablation and pregnancy populations.1-2Findings raise important considerations for post-ablation anticoagulation decisions based on prior studies such as the OCEAN trial that relied on short-duration (24–48-hour) monitoring, as these data show this approach would miss AF recurrence in 26% of patients.1 SAN FRANCISCO, April 27, 2026 (GLOBE NEWSWIRE) -- iRhythm Holdings, Inc. (NASDAQ:IRTC) today announced results from two real-world retrospective analyses in post-ablation and pregnancy patient populations presented at the Heart Rhythm Society’s annual meeting, HRS 2026, held April 23–26 in Chicago. Across both studies, arrhythmias were detected beyond 48 hours and within 14 days in a large proportion of patients (30% of recurrent AF and 60% of arrhythmias in pregnancy), with important implications for clinical assessment and decision-making.1-2 The findings add to the body of evidence on the limitations of commonly used short-duration 24–48-hour Holter monitoring and further reinforce the clinical value of continuous, uninterrupted monitoring up to 14 days with Zio ambulatory ECG devices across diverse patient populations.1-4

The findings presented at HRS 2026 reflect the growing clinical importance of atrial fibrillation (AF)—the most common arrhythmia5 and one associated with a fivefold increased risk of stroke6—where accurate detection is central to management, alongside increasing use of catheter ablation, where post-procedure rhythm assessment is critical to guide risk stratification and downstream clinical decisions.

They also highlight the importance of arrhythmia detection in pregnancy, where rising maternal cardiovascular risk and the 2023 HRS Expert Consensus Statement on the Management of Arrhythmias During Pregnancy7 have advanced pregnancy-specific management guidance, while approaches to arrhythmia detection and monitoring remain less well defined.

Detection of Post-Ablation AF Recurrence and Monitoring Duration Study: Short-Term Holter May Miss Arrhythmias1

Arrhythmia monitoring after catheter ablation of atrial fibrillation (AF) is used to identify recurrence and inform treatment. The optimal duration is not well defined. In a nationwide retrospective analysis of 11,051 patients who monitored with a Zio ambulatory ECG device in the year following AF ablation, the overall recurrence rate of AF was 21% and a substantial proportion of AF recurrence was detected beyond 48 hours and within 14 days. Notable findings include:  

AF recurrence would often be missed with 24-48-hour monitoring: With up to 14 days of continuous, uninterrupted monitoring using Zio ambulatory ECG, 26% of patients overall—and 29.8% of patients with paroxysmal AF—had their first detected AF recurrence beyond 48 hours, indicating that reliance on short-duration Holter monitoring would miss AF recurrence in a l considerable proportion of post-ablation patients.Up to 1 in 4 Misclassified: These data suggest that up to 1 in 4 patients with true AF recurrence could be misclassified as a false negative with short-duration Holter monitoring compared up to 14 days with Zio ambulatory ECG. These data provide new real-world evidence in a patient population where the clinical value of continuous, uninterrupted monitoring up to 14 days with Zio for post-ablation monitoring has previously not been well quantified. Reliance on short-term monitoring in clinical practice may result in missed AF recurrence, which has clinical implications for anticoagulation discontinuation based on recent studies such as the OCEAN (Optimal Anticoagulation for Enhanced Risk Patients Post-Catheter Ablation for Atrial Fibrillation) trial, which used a strategy of sequential cardiac monitoring of only 24-48 hours.8

“These data reinforce that monitoring approach and duration directly impact what is detected—and what is missed,” said Mintu Turakhia, MD, MS, Chief Medical and Scientific Officer and EVP, Advanced Technologies at iRhythm. Monitoring of 48 hours or less leads to false negatives of AF recurrence in 30% of those monitored in the year following-PVI. As AF burden and recurrence increase the risk of stroke and are directly actionable for clinical decisions regarding anticoagulation, antiarrhythmic, repeat ablation, and risk of heart failure — the data are clear that 14 days should be the minimum threshold for post-ablation monitoring.”

Pregnancy Study: Majority of Clinically Significant Arrhythmias Detected After 48 Hours2,9

In a retrospective analysis of pregnant patients undergoing extended monitoring using Zio ambulatory ECG devices, arrhythmias were present in 1 in 7 patients, but with 60% first detected after 48 hours—events that would be missed with commonly used short-duration 24–48-hour Holter monitoring.

Arrhythmias Detected in Pregnancy: Arrhythmias were detected in 37.7% of pregnant patients, the majority evaluated for symptoms such as palpitations (62.8%), showing that rhythm abnormalities can occur even in patients without structural or other forms of heart disease.1 in 7 Clinically Significant Arrhythmias9: Clinically significant arrhythmias were detected in 13.6% of patients, including AF ≥30 seconds, SVT ≥90 bpm and ≥30 seconds, VT ≥100 bpm and ≥4 beats, pause ≥3 seconds, and AV block (2nd deg. Mobitz II, high grade AVB, or complete heart block).Majority of Clinically Significant Arrhythmias9 Detected After 48 Hours: Most arrhythmias were detected after 48 hours (66.7% clinically significant; 59.6% overall). These data suggest that short-duration 24-48-hour Holter monitoring would fail to detect a substantial portion of clinically significant arrhythmias compared to up to 14 days of continuous, uninterrupted monitoring with Zio ambulatory ECG devices.99.2% Analyzable Time: Median analyzable time was 99.2%, indicating that nearly all recorded monitoring time produced usable heart rhythm data, demonstrating that high-quality ECG data can be obtained with continuous, uninterrupted monitoring up to 14 days with Zio ambulatory ECG devices in pregnant patients. These data provide new real-world evidence in a population where physiologic changes are associated with increased susceptibility to arrhythmias7 and cardiovascular disease remains the leading cause of pregnancy related death in the United States,10 underscoring the importance of accurate and timely detection where evidence on extended monitoring has been limited.

"Physiologic changes during pregnancy increase arrhythmia risk,7 with implications for both maternal and fetal health,” said Ridhima Kapoor, MD, Clinical Assistant Professor of Cardiovascular Medicine at Stanford University, and an investigator on the study and its presenting author. “This analysis demonstrates that arrhythmias occur in more than one-third of pregnant patients, with clinically significant events in nearly 1 in 7. Notably, the majority were identified after 48 hours of monitoring. This underscores the importance of extended cardiac monitoring to accurately capture arrhythmia burden and guide management."

Implications for Clinical Practice and Research

A growing body of large-scale real-world evidence has demonstrated the clinical value of continuous, uninterrupted monitoring up to 14 days with Zio ambulatory ECG devices, including higher diagnostic yield and lower repeat testing compared with short-duration 24–48-hour Holter and other ambulatory cardiac monitoring modalities.11,12

Additional real-world evidence from a large-scale analysis of more than 1 million patients, published in February this year in Heart Rhythm, the journal of the Heart Rhythm Society, demonstrates that 24–48-hour monitoring can miss actionable arrhythmias even in patients with frequent (i.e., daily) symptoms.13

Taken together, the totality of evidence—including new data in post-ablation and pregnancy populations strongly supports the progressive shift away from reliance on short-duration monitoring and toward 14-day continuous, uninterrupted, patch-based cardiac monitoring to better align clinical practice and the evidence base informing standards of care with a more complete assessment of arrhythmia burden.

iRhythm Differentiation

The clinical value of iRhythm is delivered through its integrated Zio platform combining patch-based ECG monitoring, AI-powered analysis, and data curation and validation by qualified cardiac technicians to deliver actionable insights that help clinicians make the right diagnosis the first time.

Data presented at HRS 2026 add to iRhythm’s comprehensive clinical evidence program, encompassing more than 140 original research manuscripts, insights derived from over 3 billion hours of curated heartbeat data, and over 12 million patient reports since the company’s inception14—underscoring an ongoing commitment to expanding evidence that supports improved patient outcomes.

About the iRhythm Studies Presented at HRS 2026

Detection of Atrial Fibrillation Recurrence and Monitoring Duration on Ambulatory Cardiac Monitoring: Implications for OCEAN Trial-Guided Anticoagulation Discontinuation1
Retrospective analysis of U.S. patients receiving Zio LTCM between 2018 and 2022 who had undergone catheter ablation for AF within the prior year. Of 709,083 patients with linked data, 11,051 met the inclusion criteria and were included in the study. AF types included paroxysmal AF (53%), persistent AF (36%), and unspecified AF (11%). The mean time to monitoring was 113 days post-ablation.

Frequency of Cardiac Arrhythmia Detection on Extended Ambulatory Cardiac ECG Monitoring During Pregnancy: Results from a Large National Sample2
Retrospective cohort study of 486 pregnant women aged 18-45 years undergoing extended ambulatory ECG monitoring. The study population had low baseline cardiovascular comorbidity. Of the 486 women in the study, 63% were monitored for palpitations, 25% had advanced maternal age (aged ≥35 years), and 24.9% had hypertensive disorders of pregnancy.

About iRhythm Holdings
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as “anticipate,” “estimate,” “expect,” “intend,” “will,” “may,” “project,” “plan,” “believe,” “target,” and similar expressions that relate to future events or outcomes.

Forward-looking statements in this press release include, but are not limited to, statements regarding the significance and potential impact of the data presented; the clinical utility and performance of iRhythm’s Zio® ambulatory ECG monitoring devices and service; the potential to improve detection and assessment of arrhythmias, including in post-ablation and pregnancy populations; the potential to inform clinical decision-making, including anticoagulation management and risk stratification; and the potential for extended continuous monitoring to provide a more complete assessment of arrhythmia burden.

These statements are based on current assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the timing, interpretation, and acceptance of clinical data; the ability to translate findings into clinical practice; regulatory and reimbursement developments; market adoption of iRhythm’s products and services; and the risks described in the section entitled “Risk Factors” in iRhythm’s most recent filings with the Securities and Exchange Commission, including its Forms 10-K and 10-Q.

These forward-looking statements speak only as of the date of this press release, and iRhythm undertakes no obligation to update them, except as required by law.

Media Contact:
Kassandra Perry
[email protected]

Investor Contact:
[email protected]

Turakhia MP et al. “Detection of Atrial Fibrillation Recurrence and Monitoring Duration on Ambulatory Cardiac Monitoring: Implications for OCEAN Trial-Guided Anticoagulation Discontinuation.” Heart Rhythm Society’s Annual Meeting, 2026. Chicago, Illinois.Kapoor R et al. “Frequency of Cardiac Arrhythmia Detection on Extended Ambulatory Cardiac ECG Monitoring During Pregnancy: Results from a Large National Sample.” Heart Rhythm Society’s Annual Meeting, 2026. Chicago, Illinois.The Zio AT device is not intended for use in critical care patients because the reporting timeliness is not consistent with life-threatening arrhythmias such as ventricular fibrillation. Refer to Zio AT Clinical Reference Manual for additional information. Do not use Zio AT for patients with symptomatic episodes where variations in cardiac performance could result in immediate danger to the patient or when real-time or in-patient monitoring should be prescribed.https://www.cdc.gov/heartdisease/atrial_fibrillation.htm. File name: CDC Afib.pdfFAQ About Atrial Fibrillation (AFib). American Heart Association. https://www.heart.org/-/media/Files/Health-Topics/Atrial-Fibrillation/FAQ-About-AFib.pdf [accessed April 2026]2023 HRS Expert Consensus Statement on the Management of Arrhythmias During Pregnancy. Heart Rhythm Society. Heart Rhythm. 2023. https://www.heartrhythmjournal.com/article/S1547-5271(23)02246-4/fulltext [accessed April 2026]Verma A, Birnie DH, Jiang C, Heidbüchel H, Hindricks G, Kirchhof P, Healey JS, Wang Y, Dagres N, Deyell MW, et al; OCEAN Investigators. Antithrombotic therapy after successful catheter ablation for atrial fibrillation. N Engl J Med. 2026;394:323–332. doi: 10.1056/NEJMoa2509688Clinically significant arrhythmias were defined as AF ≥30 seconds; SVT ≥90 bpm and ≥30 seconds; VT ≥100 bpm and ≥4 beats; ventricular fibrillation; pause ≥3 seconds; or AV block (any second-degree or complete heart block). Definitions reflect study-specific criteria; determinations of clinical significance are not made by the Zio ambulatory ECG device or service.American Heart Association. Heart Disease and Stroke Statistics—2024 Update: A Report From the American Heart Association. Circulation. 2024. 
https://www.ahajournals.org/doi/10.1161/CIR.0000000000001209 [accessed April 2026]Comparative Effectiveness and Healthcare Utilization for Ambulatory Cardiac Monitoring Strategies in Medicare Beneficiaries. Heart Rhythm Society. American Heart Journal. 2024;269:25–34. https://doi.org/10.1016/j.ahj.2023.12.002 [accessed April 2026]Assessment of Variation in Ambulatory Cardiac Monitoring Among Commercially Insured Patients. Heart Rhythm Society. American Journal of Managed Care. 2025. https://www.ajmc.com/view/assessment-of-variation-in-ambulatory-cardiac-monitoring-among-commercially-insured-patients [accessed April 2026]Relationship of Symptom Frequency and Symptom-Rhythm Correlation to Arrhythmia Type and Time to Detection: Insights from Ambulatory ECG Monitoring in Over 1 Million Patients. Heart Rhythm Society. Heart Rhythm. 2025. https://www.heartrhythmjournal.com/article/S1547-5271(25)03049-8/fulltext [accessed April 2026]Data on file. iRhythm Technologies, 2026; based on patient reports posted since company inception through December 31, 2025 and hours of curated ECG data since company inception through March 2026.

April 30, 2026 16:05 ET  | Source: iRhythm

SAN FRANCISCO, April 30, 2026 (GLOBE NEWSWIRE) -- iRhythm Holdings, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today reported financial results for the three months ended March 31, 2026.

First Quarter 2026 Financial Highlights

Revenue of $199.4 million, a 25.7% increase compared to first quarter 2025Gross margin of 70.9%, a 210-basis point increase compared to first quarter 2025Net loss of $13.9 million, a $16.8 million improvement compared to first quarter 2025Adjusted EBITDA and adjusted EBITDA margin of $14.1 million and 7.1%, respectively, a $16.7 million and 880-basis point improvement, respectively, compared to first quarter 2025Unrestricted cash, cash equivalents, and marketable securities of $549.6 million as of March 31, 2026Increased fiscal year 2026 revenue guidance to $875 million to $885 million and adjusted EBITDA margin to 12.0% to 13.0% Recent Operational Highlights

Delivered another strong quarter, demonstrated by robust volume led revenue growth and expanded margins, with continued momentum across cardiology, primary care, innovative channels, and international marketsPresented data at ACC and HRS further demonstrating the benefits of iRhythm’s Zio® ambulatory ECG portfolio across multiple patient populations as company launches new digital education platform “We delivered a strong start to 2026, with continued revenue growth reflecting durable demand for our platform and increasing adoption across multiple care settings,” said Quentin Blackford, President and Chief Executive Officer of iRhythm. “We are increasingly diversified across channels, with meaningful contributions from Zio monitor, Zio AT, innovative partnerships, and international markets. As we advance our AI-enabled capabilities and expand into earlier detection, we believe we are unlocking a significantly larger opportunity to improve patient outcomes while providing an integrated solution that lowers the total cost of cardiac care.”

First Quarter 2026 Financial Results
Revenue for the first quarter of 2026 was $199.4 million, up 25.7% from $158.7 million during the same period in 2025. The increase was driven primarily by sustained volume demand across our customer base, reflecting continued strength in our core business and contributions from newer growth channels.

Gross profit for the first quarter of 2026 was $141.4 million, up 29.4% from $109.2 million during the same period in 2025, while gross margin was 70.9%, a 210-basis point improvement compared to first quarter 2025. The increase in gross profit was primarily due to increased volume of Zio services. The increase in gross margin was primarily driven by continued operational efficiencies, as well as scale benefits from higher volumes.

Operating expenses for the first quarter of 2026 were $157.5 million, compared to $141.8 million for the same period in 2025. Adjusted operating expenses for the first quarter of 2026 were $153.5 million, compared to $140.4 million during the same period in 2025. The increase in adjusted operating expenses, period over period, was driven by an increase in volume-related costs to serve, litigation-related expenses and investments to drive future revenue growth.

Net loss for the first quarter of 2026 was $13.9 million, or a net loss of $0.43 per diluted share, compared with net loss of $30.7 million, or net loss of $0.97 per diluted share, for the same period in 2025. Adjusted net loss for the first quarter of 2026 was $11.3 million, or net loss of $0.35 per diluted share, compared with an adjusted net loss of $30.3 million, or net loss of $0.95 per diluted share, for the same period in 2025. The decrease in net loss was primarily driven by our revenue growth and operating leverage achieved through implementation of efficiency initiatives.

Unrestricted cash, cash equivalents, and marketable securities were $549.6 million as of March 31, 2026.

2026 Annual Guidance
For the full year 2026, iRhythm expects revenue between $875 million and $885 million and adjusted EBITDA margin between 12% and 13%, reflecting continued volume-led growth, gross margin expansion, and operating leverage while maintaining disciplined investment in innovation and market expansion.

Webcast and Conference Call Information
iRhythm’s management team will host a conference call today beginning at 1:30 p.m. PT/4:30 p.m. ET. Interested parties may access a live and archived webcast of the presentation on the “Events & Presentations” section of the company’s investor website at investors.irhythmtech.com.

About iRhythm Holdings, Inc.
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.

Use of Non-GAAP Financial Measures
We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP) in this press release, including adjusted EBITDA, adjusted EBITDA margin, adjusted net loss, adjusted net loss per share, adjusted operating expenses and free cash flow. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. See the schedules attached to this press release for additional information and reconciliations of such non-GAAP financial measures. We have not reconciled our adjusted operating expenses and adjusted EBITDA margin estimates for full year 2026 because certain items that impact these figures are uncertain or out of our control and cannot be reasonably predicted. Accordingly, a reconciliation of adjusted operating expenses and adjusted EBITDA estimates is not available without unreasonable effort.

Adjusted EBITDA excludes non-cash operating charges for stock-based compensation expense, changes in fair value of strategic investments, impairment and restructuring charges, business transformation costs, certain intellectual property litigation expenses and settlements, and loss on extinguishment of debt. Business transformation costs include costs associated with professional services, employee termination and relocation, third-party merger and acquisition, integration, and other costs to augment and restructure the organization, inclusive of both outsourced and offshore resources.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future actions or operating or financial performance. In particular, these statements include statements regarding financial guidance, market opportunity, ability to penetrate the market, expansion into new health programs, international market expansion, anticipated productivity and quality improvements, anticipated demand for our products and expectations for growth. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled “Risk Factors” and elsewhere in our filings made with the Securities and Exchange Commission, including those on the Form 10-Q expected to be filed on or about April 30, 2026. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. iRhythm disclaims any obligation to update these forward-looking statements.

Investor Contact
[email protected]

Media Contact
Kassandra Perry
[email protected]

IRHYTHM HOLDINGS, INC.
Condensed Consolidated Balance Sheets
(In thousands, except par value)
(unaudited)
     March 31, 2026 December 31, 2025Assets   Current assets:   Cash and cash equivalents$240,146  $236,012 Marketable securities 309,474   347,751 Accounts receivable, net 80,863   75,706 Inventory 23,800   21,634 Prepaid expenses and other current assets 26,275   21,662 Total current assets 680,558   702,765 Property and equipment, net 156,704   151,599 Operating lease right-of-use assets 40,324   41,827 Restricted cash 8,358   8,358 Goodwill 862   862 Long-term strategic investments 72,860   69,913 Other assets 46,699   44,718 Total assets$1,006,365  $1,020,042 Liabilities and Stockholders’ Equity   Current liabilities:   Accounts payable$8,559  $2,256 Accrued liabilities 102,342   128,747 Deferred revenue 4,056   4,201 Operating lease liabilities, current portion 16,793   16,686 Total current liabilities 131,750   151,890 Long-term senior convertible notes 650,313   649,504 Other noncurrent liabilities 907   908 Operating lease liabilities, noncurrent portion 62,185   64,994 Total liabilities 845,155   867,296 Stockholders’ equity:   Preferred stock, $0.001 par value – 5,000 shares authorized; none issued and outstanding at March 31, 2026 and December 31, 2025 —   — Common stock, $0.001 par value – 100,000 shares authorized; 33,083 shares issued and 32,854 shares outstanding at March 31, 2026, respectively; and 32,526 shares issued and 32,297 shares outstanding at December 31, 2025, respectively 33   32 Additional paid-in capital 1,003,514   980,757 Accumulated other comprehensive income 42   403 Accumulated deficit (817,379)  (803,446)Treasury stock, at cost; 229 shares at March 31, 2026 and December 31, 2025 (25,000)  (25,000)Total stockholders’ equity 161,210   152,746 Total liabilities and stockholders’ equity$1,006,365  $1,020,042  IRHYTHM HOLDINGS, INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(unaudited)
     Three Months Ended March 31,   2026   2025 Revenue, net $199,390  $158,677 Cost of revenue  58,037   49,461 Gross profit  141,353   109,216 Operating expenses:    Research and development  21,358   21,519 Acquired in-process research and development  296   296 Selling, general and administrative  135,884   119,957 Total operating expenses  157,538   141,772 Loss from operations  (16,185)  (32,556)Interest and other income, net:    Interest income  4,879   4,919 Interest expense  (3,290)  (3,273)Other income, net  1,163   875 Total interest and other income, net  2,752   2,521 Loss before income taxes  (13,433)  (30,035)Income tax provision  500   665 Net loss $(13,933) $(30,700)Net loss per common share, basic and diluted $(0.43) $(0.97)Weighted-average shares, basic and diluted  32,507   31,590  IRHYTHM HOLDINGS, INC.
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(unaudited)
     Three Months Ended March 31,   2026   2025 Adjusted EBITDA reconciliation*    Net loss, as reported1 $(13,933) $(30,700)Interest expense  3,290   3,273 Interest income  (4,879)  (4,919)Changes in fair value of strategic investments  (1,447)  (843)Income tax provision  500   665 Depreciation and amortization  5,042   5,210 Stock-based compensation  21,491   23,344 Business transformation costs  346   503 Intellectual property litigation costs2  3,689   832 Adjusted EBITDA $14,099  $(2,635)     Adjusted net loss reconciliation*    Net loss, as reported1 $(13,933) $(30,700)Business transformation costs  346   503 Intellectual property litigation costs2  3,689   832 Changes in fair value of strategic investments  (1,447)  (843)Tax effect of adjustments3  —   (91)Adjusted net loss $(11,345) $(30,299)     Adjusted net loss per share reconciliation*    Net loss per share, as reported1 $(0.43) $(0.97)Business transformation costs per share  0.01   0.02 Intellectual property litigation costs per share2  0.11   0.03 Changes in fair value of strategic investments per share  (0.04)  (0.03)Tax effect of adjustments per share3  —   — Adjusted net loss per share $(0.35) $(0.95)Weighted-average shares, basic and diluted  32,507   31,590      Adjusted operating expenses reconciliation*    Operating expenses, as reported $157,538  $141,772 Business transformation costs  (346)  (503)Intellectual property litigation costs2  (3,689)  (832)Adjusted operating expenses $153,503  $140,437           *Certain numbers expressed may not sum due to rounding.
1 Net loss for the three months ended March 31, 2026 and 2025, includes $0.3 million of acquired in-process research and development expense.
2 Excludes third-party attorneys' fees and expenses associated with patent litigation brought against the Company by Welch Allyn, Inc. and Bardy Diagnostics, Inc., subsidiaries of Baxter International, Inc.
3 Income tax impact of Non-GAAP adjustments listed.

  Three Months Ended March 31,   2026   2025 Free cash flow reconciliation*    Net cash used in operating activities $(26,173) $(7,891)Purchases of property and equipment  (6,905)  (9,419)Free cash flow $(33,078) $(17,310)          *Certain numbers expressed may not sum due to rounding.

iRhythm Holdings, Inc. (IRTC) Q1 2026 Earnings Call Transcript

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: iRhythm Holdings, Inc. (IRTC - Free Report) iRhythm Holdings is a leader in ambulatory cardiac monitoring (ACM), operating a device-enabled digital diagnostics platform that integrates wearable biosensors (Zio), FDA-cleared AI algorithms, and enterprise clinical workflows delivered through EHR systems . Unlike legacy Holter and event monitors, iRhythm’s Zio platform captures continuous multi-day ECG data, which is processed using deep-learning algorithms and delivered as clinically actionable digital reports.

IRTC is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Medical stock. IRTC has a Momentum Style Score of A, and shares are up 1.7% over the past four weeks.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.31 to $0.10 per share. IRTC also boasts an average earnings surprise of +377.6%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, IRTC should be on investors' short list.

iRhythm Holdings, Inc. (IRTC) Presents at Bank of America Global Healthcare Conference 2026 Transcript

May 19, 2026 16:05 ET  | Source: iRhythm

SAN FRANCISCO, May 19, 2026 (GLOBE NEWSWIRE) -- iRhythm Holdings, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, prevent, and predict disease, today announced that the company will be participating in the following investor conferences.

William Blair 46th Annual Growth Stock Conference on June 2, 2026, at 8:00 a.m. CT (6:00 a.m. PT)
Truist Securities MedTech Conference on June 16, 2026, at 2:20 p.m. ET (11:20 a.m. PT)

Interested parties may access a live and archived webcast of the presentation on the “Events & Presentations” section of the company’s investor website at investors.irhythmtech.com.

About iRhythm Holdings, Inc.
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.

Investor Contact
[email protected]

Media Contact
Kassandra Perry
[email protected]

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Stratasys Direct™ chosen based upon its proven role in defense manufacturing, with a trusted track record across thousands of military systems worldwide.

U.S. defense additive manufacturing funding surges toward $3.3 billion as adoption expands across sustainment and modernization

MINNETONKA, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (NASDAQ: SSYS) today announced that its parts-on-demand business, Stratasys Direct™, has been selected to take part in the U.S. Department of War’s (DoW) Joint Additive Manufacturing Acceptability (JAMA) IV Pilot Parts Program, a multimillion-dollar initiative to accelerate qualification and deployment of 3D-printed parts across military platforms and systems.

As a Program of Record for the U.S. Air Force and Naval Air Systems Command (NAVAIR), Stratasys continues to expand its role in advanced manufacturing across aerospace and defense production environments, building on the successful deployment of thousands of systems worldwide. Unlike aspirational additive manufacturing initiatives in defense, Stratasys Direct, the contract manufacturing division of Stratasys, delivers qualified production-scale parts to defense organizations for operational use across active platforms.

Demand for additive manufacturing in defense continues to grow, driven by mission-critical requirements for accuracy, scalability, and resilience. DoW budget programs increasingly reference additive manufacturing, with funding rising 83% to $3.3 billion in fiscal year 2026 compared to fiscal year 2025. Industry analysts expect continued growth through the end of the decade as military organizations expand digital manufacturing for sustainment, supply chain resilience, and modernization.

Stratasys solutions also deliver measurable operational benefits across military programs. For example, the U.S. Air Force uses Stratasys throughout its C‑17 fleet to produce microvanes that improve aerodynamic efficiency, helping save an estimated $14 million in annual fuel costs, as well as 3D‑printed replacement components that meaningfully reduce lead times.

“In 2025, Stratasys saw double-digit annual revenue growth from aerospace and defense, demonstrating that additive manufacturing is becoming a key capability for defense sustainment and supply chain resilience,” said Foster Ferguson, Vice President, Industrial Business Unit, Stratasys. “Stratasys Direct already ships over 100,000 parts annually to the defense industry, and programs like JAMA will accelerate qualification of parts so organizations can deploy them faster across operational platforms.”

Ferguson continued: “Through Stratasys Direct, we combine Stratasys technology with production-scale additive manufacturing services and deep engineering expertise to help defense organizations validate and produce components that keep mission-critical systems operational.”

About Stratasys Direct

Stratasys Direct, the contract manufacturing division of Stratasys, provides additive manufacturing solutions for companies in highly regulated industries. With three manufacturing facilities in North America, the company offers seven industrial 3D printing technologies, along with engineering, finishing, and post-processing capabilities that support applications from rapid prototyping through production. Operating under certified quality systems including AS9100 and ISO 9001, CMMC compliance, and supporting ITAR requirements, Stratasys Direct Manufacturing brings decades of experience serving aerospace, defense, medical, and industrial customers.

About Stratasys

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries including aerospace, automotive, consumer products, and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage of the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including Stratasys’ websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.

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New materials across FDM®, PolyJet™, P3™ DLP, and SLA, combined with GrabCAD® enhancements improve the accessibility of AM across business functions for faster, more accurate, and scalable production workflows

MINNETONKA, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (NASDAQ: SSYS) announced today that it has expanded its portfolio of additive manufacturing solutions across multiple industries with the introduction of new software and materials that expand applications of existing systems and improve ease of use for customers. New materials include: ULTEM™ 1010 filament for the F3300® printer, and PolyJet ToughONE™ White for Stratasys J3/J5™ printers, along with a new Measurement-Based Warped Modeling software addition to GrabCAD Print Pro™.

“These innovations are designed to solve real challenges manufacturers face when adopting or scaling additive manufacturing,” said Rich Garrity, Chief Business Unit Officer, Stratasys. “We are committed to continuous investment and development across our portfolio, working closely with customers to reduce barriers to adoption and unlock the incredible value that additive manufacturing can provide throughout the whole production workflow.”

Expanding ULTEM™ resin offerings for industrial growth

ULTEM™ 1010 resin is now available as filament for the F3300® printer. This addition enables the production of high-temperature, aerospace-grade parts with excellent resistance to heat and the lowest coefficient of thermal expansion in the FDM® technology portfolio. Optimized for composite tooling, ULTEM™ 1010 resin allows fixtures and tools to maintain precision and reliability in demanding environments. Paired with the F3300® printer's faster print speeds and integrated material drying, manufacturers can now produce high-performance parts while significantly reducing cost per component.

In addition, ULTEM™ 1010 filament is planned to be available this summer in larger spool sizes for extended production runs through the Fortus FDC™ filament dryer. Compatible with the F900® and Fortus® 450mc™ Gen III printers, the Fortus FDC dryer supports longer, uninterrupted builds with integrated material drying, enabling manufacturers to produce high-temperature industrial components more efficiently and with greater consistency.

Photocurable Materials Built for Real-World Applications

P3™ Deflect™ 110 resin for Origin printers makes additive manufacturing a valid option for production parts exposed to elevated temperatures and mechanical loads, like automotive connectors, brackets, jigs, fixtures, and other demanding engineering applications.

Loctite® 3D IND3785 Low Migration for Origin® printers addresses the needs of FDA- and EU-compliant small-batch production in food and pharmaceutical environments. It delivers injection-molding-quality surface finish and accuracy with the flexibility of additive manufacturing.

PolyJet ToughONE White on J3 and J5 systems enables teams to create durable prototypes that withstand snapping, flexing, and repeated testing. With prototypes that behave more like finished products, design teams can accelerate iteration and validation.

PolyJet ToughONE Black adds strong visual contrast with the same toughness and dimensional stability, supporting functional demonstrations, application testing, and high-impact design reviews.

Measurement-Based Warped Adapted Modeling in GrabCAD Print Pro™ brings precision to Origin® P3™ platform

Measurement-Based WAM™ Warped Adaptive Modeling integrated into GrabCAD Print Pro will use measured dimension data to automatically correct warping while providing precise additive production. Complex parts such as electrical connectors, precision jigs, and industrial fixtures can be produced with accuracy and consistency on the Origin® DLP platform using P3™ Programmable PhotoPolymerization technology, avoiding multiple iterations.

High-Detail SLA Prototypes

A new addition to the SLA material WaterShed family, Somos® WaterShed® White delivers durable, moisture-resistant SLA performance for automotive, aerospace, and industrial prototypes. Its smooth surface finish and opaque white appearance make it well suited for detailed models that must withstand functional testing. Somos Watershed White is validated to run on all Neo® printers, including the large-format Neo800+™.

Attendees of the upcoming RAPID + TCT Conference (April 14-16) can receive demonstrations of software and hardware, and learn more about these new materials at the Stratasys booth, #1601.

About Stratasys

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries including aerospace, automotive, consumer products, and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage of the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including Stratasys’ websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.

Stratasys, J850, PolyJet, PolyJet ToughONE, P3, Origin, GrabCAD, GrabCAD Print, GrabCAD Print Pro and SAF are trademarks or registered trademarks of Stratasys Ltd. and/or its affiliates.

Stratasys, FDM, PolyJet, P3, GrabCAD, F3300, J3, J5, PolyJet ToughONE, GrabCAD Print Pro, Fortus, Fortus FDC, F900, Fortus 450mc, Origin, Deflect, Somos, WaterShed, Neo and Neo800+ are trademarks or registered trademarks of Stratasys Ltd. and/or its affiliates. 1010 and ULTEM™ trademarks are used under license from SABIC, its affiliate or subsidiary.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are based on current information that is, by its nature, subject to potential change, due to risks and uncertainties faced by the Company, including those risks described in Item 3.D “Key Information - Risk Factors” of Stratasys’ annual report on Form 20-F for the year ended December 31, 2025, which Stratasys filed with the SEC on March 5, 2026, and in other reports and documents that Stratasys files with or furnishes to the SEC from time to time, which are designed to advise interested parties of the risks and factors that may affect Stratasys’ business, financial condition, results of operations and prospects. Any forward-looking statements made in this press release are made as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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New tools, materials, and platform updates make additive manufacturing more accessible, faster, easier, and more reliable from the design lab to the factory floor

MINNETONKA, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (NASDAQ: SSYS) today unveiled a slate of new application-driven software capabilities, materials, and platform enhancements designed to empower manufacturers to push additive manufacturing beyond concept models and into production parts faster than ever. Stratasys will enable organizations to move the production of more parts and tools from traditional methods into additive workflows, by streamlining design and ease of use, improving reliability, and expanding materials and platform capabilities. This approach will dramatically increase speed and performance while reducing costs.

“Manufacturers are seeking more applications for additive manufacturing, and that’s exactly what these innovations are designed to provide,” said Rich Garrity, President, Chief Business Unit Officer. “Whether it’s designing tools faster, producing high-performance parts, or getting more accuracy out of production systems, we’re giving teams practical ways to put additive to work every day.”

Engineering-Focused PolyJet Performance with the J850™ Core

The J850™ Core printer expands the PolyJet™ technology lineup with a lower-cost system built for engineering teams focused on functional prototyping. It gives customers access to PolyJet performance and materials without paying for full-color capabilities. These advancements hit the sweet spot between capability and cost for teams that want speed and reliability at a more practical price point. The system is planned to be open for booking by the end of April.

This system is suited for producing enclosures, housings, jigs, fixtures, and other functional components. With support for rigid, flexible, transparent, and PolyJet ToughONE™ materials, along with a large build tray and high-speed print modes, the J850™ Core enables faster iteration and consistent, repeatable results.

“The J850™ Core printer is built for how PolyJet is used today by engineering teams that need to move fast and validate parts every day,” said Garrity. “It brings the performance and material capabilities customers expect, at a practical price point that supports the ability to scale across more teams and more applications.”

P3™ MED Silicone 25A Offers Biocompatible Patient-Specific Applications

Stratasys and Shin-Etsu are introducing P3™ MED Silicone 25A, the first biocompatible true silicone for 3D printing patient-specific medical devices and low-volume production parts, available exclusively on Origin® printers. Fully certified to ISO 10993 standards, the material delivers authentic silicone properties such as elasticity, durability, and resistance to heat, chemicals, and aging. This combination overcomes many challenges traditionally associated with 3D printing true silicone.

The material enables scalable production of anatomically precise devices like hearing aids, CPAP masks, orthotics, and prosthetics, eliminating costly tooling and reducing production cycle times. By combining Stratasys’ additive manufacturing expertise with Shin-Etsu’s silicone science, the P3 Silicone line provides high-quality, injection-molding-grade parts with tight precision and excellent surface finish, accelerating development and improving patient-specific outcomes.

“P3 MED Silicone 25A opens new possibilities for patient-specific devices and low-volume medical production,” said Erez Ben Zvi, Vice President, Healthcare, Stratasys. “Combining authentic silicone properties with biocompatibility on the Origin system provides manufacturers the ability to produce durable, high-precision parts without molds or tooling, making additive manufacturing more practical and cost-effective for healthcare applications.”

GrabCAD® Software + Additive App Suite Lowers Barriers to Faster, More Efficient Manufacturing

The new Additive App Suite, developed by Stratasys’ software partner trinckle, expects to launch later this summer with 10 apps, which will be available for demonstration at the upcoming RAPID+TCT 2026 Show. Stratasys and trinckle plan to expand the number of apps available to 15 apps by Formnext 2026 in November. Automated design apps for proven industrial applications such as Clamping Jaws, Shadow Boards, and Drill Guides will be embedded directly into GrabCAD Print™ and GrabCAD Print Pro™. This integration enhances the overall interoperability within a single workflow session – optimized for Stratasys systems – allowing manufacturers to move seamlessly from automated design to print-ready production. Flexible licensing models provide both individual and enterprise options, creating a low-friction path from trial to full-scale adoption.

The suite enables manufacturing engineers to generate production tooling, eliminating the design bottleneck without disrupting the engineering workflow. By embedding these apps directly into GrabCAD Print and GrabCAD Print Pro, Stratasys expands additive manufacturing adoption beyond specialized AM teams to engineering, quality, and operations, accelerating real production outcomes. The partnership with design automation specialist trinckle marks the first step in Stratasys’ broader platform vision for GrabCAD – connecting engineers, applications, and additive workflows within a single ecosystem.

“By transforming GrabCAD Print into a platform that guides engineers through automated, production-ready workflows, we’re making additive manufacturing faster and more accessible across the factory floor,” said Victor Gerdes, Vice President, Software, Stratasys. “The Additive App Suite allows teams to go from a production problem to a print-ready solution in minutes, not days, expanding the impact of AM beyond the lab.”

SAF™ PA12 – Powered by Evonik Delivers Cost-Efficient Industrial Production

By lowering barriers to industrial powder bed adoption, the new SAF ™ PA12 enables production-grade performance at a competitive price point. Customers can expand production applications confidently, benefiting from reduced material costs and faster print times while maintaining the quality and performance expected from a production-grade PA12 material.

Stratasys’ new SAF™ PA12 - Powered by Evonik, offers up to 14% lower total cost of ownership vs current SAF PA12 materials, providing customers a highly cost-efficient PA12 solution for industrial production without requiring additional licenses, hardware, or process changes. The material delivers strong, resilient, and dimensionally accurate parts with consistent build quality, supporting reliable, repeatable industrial manufacturing.

“The new SAF PA12 delivers production-grade performance for industrial additive manufacturing, with strong, resilient, and dimensionally accurate parts with consistent quality,” said Neil Hopkinson, Vice President, SAF Technology, Stratasys. “By combining reliability with lower operating costs, manufacturers can confidently scale production applications, streamline workflows, and expand the use of additive manufacturing across multiple parts and processes.”

Attendees of the upcoming RAPID + TCT Conference (April 14-16) can get demonstrations of software and hardware, and see these new materials at the Stratasys booth, #1601.

About Stratasys

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries including aerospace, automotive, consumer products, and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage of the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including Stratasys’ websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.

Stratasys, J850, PolyJet, PolyJet ToughONE, P3, Origin, GrabCAD, GrabCAD Print, GrabCAD Print Pro and SAF are trademarks or registered trademarks of Stratasys Ltd. and/or its affiliates. trinckle is a trademark or registered trademark of trinckle 3D GmbH. Learn more at trinckle.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are based on current information that is, by its nature, subject to potential change, due to risks and uncertainties faced by the Company, including those risks described in Item 3.D “Key Information - Risk Factors” of Stratasys’ annual report on Form 20-F for the year ended December 31, 2025, which Stratasys filed with the SEC on March 5, 2026, and in other reports and documents that Stratasys files with or furnishes to the SEC from time to time, which are designed to advise interested parties of the risks and factors that may affect Stratasys’ business, financial condition, results of operations and prospects. Any forward-looking statements made in this press release are made as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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-

MINNETONKA, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (Nasdaq: SSYS) will release financial results for the first quarter ended March 31, 2026, on Thursday, May 7, 2026. The Company plans to hold the conference call to discuss its first quarter 2026 financial results on Thursday, May 7, 2026, at 8:30 a.m. (ET).

The investor conference call will be available via live webcast on the Stratasys Web site at investors.stratasys.com, or directly at the following web address:

https://event.choruscall.com/mediaframe/webcast.html?webcastid=jBx4uZ5o

To participate by telephone, the U.S. toll-free number is 877-407-0619 and the international dial-in is +1-412-902-1012. Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for 6 months at investors.stratasys.com, or by accessing the above-provided web address.

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.

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MINNETONKA, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (Nasdaq: SSYS), (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced its financial results for the first quarter ended March 31, 2026.

“Our first quarter results reflect the resilience of our operating model in a measured spending environment, demonstrated by positive adjusted EBITDA and operating cash flow," said Dr. Yoav Zeif, CEO of Stratasys. "Recurring revenue from consumables and customer support continued to provide stability, while Stratasys Direct delivered strong 23% organic growth year-over-year across a diverse range of industrial applications, led by drone customers. As we look forward, our current pipeline in high requirement applications, especially in defense, continues to build as we gain confidence in our ability to win prominent contracts in 2026 and beyond.”

Summary - First Quarter 2026 Financial Results Compared to First Quarter 2025:

Revenue of $132.7 million compared to $136.0 million. GAAP gross margin of 41.7%, compared to 44.3%. Non-GAAP gross margin of 46.3%, compared to 48.3%. GAAP operating loss of $26.5 million, compared to a GAAP operating loss of $12.4 million. Non-GAAP operating loss of $3.2 million, compared to non-GAAP operating income of $3.0 million. GAAP net loss of $23.8 million, or ($0.28) per diluted share, compared to a net loss of $13.1 million, or ($0.18) per diluted share. Non-GAAP net loss of $1.3 million, or ($0.01) per diluted share, compared to non-GAAP net income of $2.9 million, or $0.04 per diluted share. Adjusted EBITDA of $2.0 million, compared to $8.2 million. Cash provided by operating activities of $2.4 million, compared to $4.5 million in the prior year period. Financial Outlook:

The Company is reaffirming its outlook for 2026, as set forth below, which is based on current market conditions and assumes that the impacts of global inflationary pressures, relatively high interest rates, exchange rates, increased tariffs and other supply chain costs do not impede economic activity further.

Full year revenue growing to a range of $565 million to $575 million, improving sequentially through the year. Based on current logistics and materials costs, full year non-GAAP gross margins of 46.7% to 47.1%, including approximately $7 million of adverse impact from tariffs and foreign exchange rates relative to 2025. Full year non-GAAP operating expenses ranging from $260 million to $262 million, including approximately $10 million of adverse impact from changes in foreign exchange rates. Full year non-GAAP operating margins in a range of 0.7% to 1.5%. GAAP net loss of $83 million to $67 million, or ($0.95) to ($0.76) per diluted share. Non-GAAP net income of $8 million to $12.5 million, or $0.09 to $0.14 per diluted share. Adjusted EBITDA of $25 million to $30 million, with Adjusted EBITDA margin of 4.5% to 5.0%. Capital expenditures of $20 million to $25 million. Expects to generate positive operating cash flow subject to uncertainty related to foreign exchange rates and tariffs. Appropriate reconciliations between historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our financial outlook for 2026, are provided in the tables at the end of our press release and slide presentation, with itemized detail concerning the non-GAAP financial measures. We have not included, however, guidance for 2026 for GAAP gross margin or GAAP operating expenses, or a reconciliation of our guidance for 2026 for non-GAAP gross margins or non-GAAP operating expenses to the most directly comparable GAAP financial measures (i.e., GAAP gross margin or GAAP operating expenses, respectively), as the information needed to provide that GAAP guidance and that reconciliation is not available to us without unreasonable effort or with reasonable certainty from a quantitative perspective. We expect that the foregoing missing information related to our outlook on a GAAP basis for 2026 is likely to result in significant changes relative to our non-GAAP outlook in respect of the subject financial measures.

Stratasys Ltd. First Quarter 2026 Webcast and Conference Call Details

The Company plans to webcast its conference call to discuss its first quarter 2026 financial results on Thursday, May 7, 2026, at 8:30 a.m. (ET).

The investor conference call will be available via live webcast on the Stratasys Web site at investors.stratasys.com, or directly at the following web address:

https://event.choruscall.com/mediaframe/webcast.html?webcastid=jBx4uZ5o

To participate by telephone, the U.S. toll-free number is 877-407-0619 and the international dial-in is +1-412-902-1012. Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for six months at investors.stratasys.com, or by accessing the above-provided web address.

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.

Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.

Cautionary Statement Regarding Forward-Looking Statements

The statements in this press release regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for 2026 and beyond, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing market generally; the global macro-economic environment, including the impact of increased and/or reciprocal import tariffs that have been imposed by the U.S. and other countries, and of higher energy costs due to the U.S.-Iranian conflict; global trends involving inflation, interest rates, economic activity and currency exchange rates, and their impact on the additive manufacturing industry, our company and our customers, in particular; changes in our overall strategy, including as related to any restructuring activities and our capital expenditures; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets; the extent of our success at successfully consummating and integrating into our existing business acquisitions or investments in new businesses, technologies, products or services, the potential adverse impact of global interruptions and delays involving freight carriers and other third parties on our supply chain and distribution network; global market, political and economic conditions, and in the countries in which we operate in particular; potential adverse effects of Israel’s wars against Iran and its sponsored terrorist organizations Hamas, Hezbollah, and, intermittently, the Houthi terrorist group in Yemen; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2025, which we filed with the U.S. Securities and Exchange Commission, or SEC, on March 5, 2026 (the “2025 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2025 Annual Report and the Reports of Foreign Private Issuer on Form 6-K that attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition, for the quarterly periods throughout 2026, which have been or will be furnished to the SEC throughout 2026, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects. Any guidance provided, and other forward-looking statements made, in this press release are provided or made (as applicable) as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Use of Non-GAAP Financial Measures

The non-GAAP data included herein, including, but not limited to, data for non-GAAP gross margins, non-GAAP operating loss, non-GAAP operating margins, non-GAAP net income, and Adjusted EBITDA, which non-GAAP data excludes certain items, as detailed in the reconciliation tables herein, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations. Our management utilizes these non-GAAP measures to enable us to assess our financial results (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains and legal provisions, (ii) excluding non-cash items such as share-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. The items eliminated as part of our calculation of our non-GAAP financial measures either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. Our non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a period, which may not provide a comparable view of our performance to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results, and between our outlook for 2026 (other than for gross margin and operating expenses, for which GAAP data is not available to us without unreasonable effort or with reasonable certainty), on a GAAP and non-GAAP basis is provided in the tables below.

Stratasys Ltd.   Consolidated Balance Sheets (U.S. $ in thousands, except share data)   March 31, 2026 December 31, 2025 ASSETS Current assets Cash and cash equivalents $

71,789

$

94,527

Short-term bank deposits 166,000

150,000

Accounts receivable, net of allowance for credit losses of $4,060 and $4,145 as of March 31, 2026 and December 31, 2025, respectively 157,077

160,478

Inventories 143,573

145,238

Prepaid expenses 7,739

5,500

Other current assets 27,454

26,241

  Total current assets 573,632

581,984

Non-current assets Property, plant and equipment, net 191,745

192,566

Goodwill 101,451

101,599

Other intangible assets, net 90,715

95,842

Operating lease right-of-use assets 25,454

25,417

Long-term investments 76,298

63,104

Other non-current assets 13,571

13,252

  Total non-current assets 499,234

491,780

  Total assets $

1,072,866

$

1,073,764

  LIABILITIES AND EQUITY Current liabilities Accounts payable $

50,856

$

43,021

Accrued expenses and other current liabilities 33,590

34,284

Accrued compensation and related benefits 37,712

31,304

Deferred revenues - short-term 51,402

47,835

Operating lease liabilities - short-term 7,141

6,597

  Total current liabilities 180,701

163,041

Non-current liabilities Deferred revenues - long-term 18,299

19,062

Deferred income taxes 503

312

Operating lease liabilities - long-term 19,541

19,903

Contingent consideration - long-term 5,437

5,353

Other non-current liabilities 22,779

23,193

  Total non-current liabilities 66,559

67,823

  Total liabilities $

247,260

$

230,864

  Contingencies (see note 12)   Equity Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousand shares; 87,080 thousand shares and 86,376 thousand shares issued at March 31, 2026 and December 31, 2025, respectively; 86,814 thousand shares and 86,110 thousand shares outstanding at March 31, 2026 and December 31, 2025, respectively $

244

$

242

Treasury shares at cost, 266 thousand shares at March 31, 2026 and December 31, 2025 (1,995

)

(1,995

)

Additional paid-in capital 3,280,627

3,275,344

Accumulated other comprehensive loss (4,951

)

(6,197

)

Accumulated deficit (2,448,319

)

(2,424,494

)

Total equity 825,606

842,900

  Total liabilities and equity $

1,072,866

$

1,073,764

  Stratasys Ltd.   Consolidated Statements of Operations (U.S. $ in thousands, except share data) Three Months Ended March 31, 2026

2025

  Revenues Products $

88,754

$

93,795

Services 43,943

42,251

132,697

136,046

Cost of revenues Products 46,554

47,268

Services 30,782

28,539

77,336

75,807

  Gross profit 55,361

60,239

  Operating expenses Research and development, net 19,151

18,792

Selling, general and administrative 62,742

53,851

81,893

72,643

  Operating loss (26,532

)

(12,404

)

  Financial income, net 2,732

1,473

  Loss before income taxes (23,800

)

(10,931

)

  Income tax expenses 25

455

  Share in losses of associated companies -

1,668

  Net loss $

(23,825

)

$

(13,054

)

  Net loss per ordinary share - basic and diluted $

(0.28

)

$

(0.18

)

  Weighted average ordinary shares outstanding - basic and diluted 86,357

71,967

  Stratasys Ltd.   Reconciliation of GAAP to Non-GAAP Results of Operations Three Months Ended March 31, 2026

Non-GAAP 2026

2025

Non-GAAP 2025

GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP U.S. dollars and shares in thousands (except per share amounts) Gross profit (1) $

55,361

$

6,074

$

61,435

$

60,239

$

5,410

$

65,649

Operating income (loss) (1,2) (26,532

)

23,312

(3,220

)

(12,404

)

15,450

3,046

Net income (loss) (1,2,3) (23,825

)

22,548

(1,277

)

(13,054

)

15,932

2,878

Net income (loss) per diluted share (4) $

(0.28

)

$

0.27

$

(0.01

)

$

(0.18

)

$

0.22

$

0.04

  (1)

Acquired intangible assets amortization expenses 4,522

4,488

Non-cash share-based compensation expenses 661

708

Restructuring and other expenses 891

214

6,074

5,410

  (2)

Acquired intangible assets amortization expenses 1,155

940

Non-cash share-based compensation expenses 4,624

5,505

Restructuring and other related costs 995

1,132

Contingent consideration 335

645

Legal and other expenses 10,129

1,818

17,238

10,040

23,312

15,450

  (3)

Corresponding tax effect (442

)

84

Equity method related expenses -

841

Finance income (322

)

(443

)

$

22,548

$

15,932

  (4)

Weighted average number of ordinary shares outstanding - Diluted 86,357

86,357

71,967

72,625

  Stratasys Ltd.   Reconciliation of GAAP net loss to Adjusted EBITDA Three months ended March 31, 2026

2025

U.S. $ in thousands Net loss $

(23,825

)

$

(13,054

)

Financial income, net (2,732

)

(1,473

)

Income tax expenses 25

455

Share in losses of associated companies -

1,668

Depreciation expenses 5,731

5,124

Amortization expenses 5,686

5,428

Non-cash share-based compensation expenses 5,285

6,213

Contingent consideration 335

645

Legal and other expenses 10,361

1,818

Restructuring and other related costs 1,111

1,346

Adjusted EBITDA $

1,977

$

8,170

  Stratasys Ltd.   Reconciliation of GAAP Net Loss to Non-GAAP Net Income Forward Looking Guidance: Fiscal Year 2026 (U.S. $ in millions, except per share data) Low   High   GAAP net loss $(83) to $(67)   Adjustments Share-based compensation expenses $24 to $26 Intangible assets amortization expenses $23 to $25 Reorganization and other $31 to $37 Tax expenses related to Non-GAAP adjustments $2 to $3   Non-GAAP net income $8 to $13   GAAP loss per share $(0.95) to $(0.76)   Non-GAAP diluted earnings per share $0.09 to $0.14     Reconciliation of GAAP Net Loss to Adjusted EBITDA Forward Looking Guidance: Fiscal Year 2026 (U.S. $ in millions, except per share data) Low   High   GAAP net loss $(83) to $(67)   Adjustments Share-based compensation expenses $24 to $26 Intangible assets amortization expenses $23 to $25 Reorganization and other $31 to $37 Tax expenses related to Non-GAAP adjustments $2 to $3 Other non-operating income $(4) to $(4) Depreciation $21 to $21   Adjusted EBITDA $25 to $30     Stratasys Ltd.   Reconciliation of GAAP Operating Loss to Non-GAAP Operating Income Forward Looking Guidance: Fiscal Year 2026 (U.S. $ in millions, except per share data) Low   High   GAAP operating loss $(84) to $(69) GAAP operating margins (15)% to (12)%   Adjustments Share-based compensation expenses $24 to $26 Intangible assets amortization expenses $23 to $25 Reorganization and other $31 to $37   Non-GAAP operating profit $4 to $8.5 Non-GAAP operating margins 0.7 % to 1.5%   More News From Stratasys Ltd.

Stratasys Ltd. (SSYS) Q1 2026 Earnings Call Transcript

Key Takeaways SSYS posted a narrower-than-expected Q1 loss despite a 2.4% year-over-year revenue decline.Stratasys saw 23% organic growth in Direct services after divestments boosted services revenues.SSYS reiterated its 2026 revenues and earnings outlook despite tariff and foreign exchange uncertainty. Stratasys (SSYS - Free Report) reported a first-quarter 2026 non-GAAP loss of a penny per share, which beat the Zacks Consensus Estimate of a loss of 2 cents by 50%. However, the figure plunged 125% year over year.

Revenues decreased 2.4% year over year to $132.70 million. However, the top line beat the consensus mark of $132 million by 0.75%.

SSYS shares rose 3.9% at the time of writing this article. The stock has declined 7.4% in the year-to-date period compared with the Zacks Industrial Products sector’s return of 16%.

Stratasys’ Q1 Release in DetailSegment-wise, product revenues decreased 5.3% year over year to $88.8 million. System revenues fell 7.7% year over year to $28.8 million. Consumables revenues declined 4.2% year over year to $60 million. 

Services revenues increased 4% year over year to $43.9 million, driven by Stratasys Direct’s 23% organic year-over-year growth after divestments. Customer support revenues were $29.7 million, down 1% from the year-ago quarter. Management noted that recurring revenues from consumables and support continue to provide stability as customers remain cautious in capital equipment spending.

Stratasys’ non-GAAP gross margin contracted 200 basis points (bps) year over year to 46.3% from 48.3% in the same period last year. Management attributed the decline primarily to the impact of $2.4 million in incremental tariff expense, along with the effect of lower revenues.

Stratasys’ non-GAAP operating expenses in the first quarter of 2026 were $64.6 million, representing 48.7% of revenues compared with $62.6 million (46% of revenues) in the year-ago quarter. The increase was largely driven by foreign exchange, with management citing an approximately $3.1 million impact from the appreciation of the Israeli shekel against the U.S. dollar.

Adjusted EBITDA was $2.0 million compared with $8.2 million in the year-ago quarter. The adjusted EBITDA margin contracted 450 bps on a year-over-year basis to 1.5%. The non-GAAP operating loss was $3.2 million compared with an operating profit of $3 million in the year-over-year period.

Stratasys’ Balance Sheet & Cash Flow DetailsAs of March 31, 2026, Stratasys had $237.8 million in cash, cash equivalents and short-term deposits compared with $244.5 million as of Dec. 31.

The company emphasized that it remains debt-free, preserving flexibility to invest in technology and market development while evaluating inorganic opportunities aligned with its focus on high-requirement use cases.

In the first quarter of 2026, the company reported operating cash flow of $2.4 million compared with $15.1 million in the previous quarter, supported by working-capital discipline.

Stratasys Offers Positive 2026 OutlookFor 2026, Stratasys reiterated its outlook for revenues between $565 million and $575 million, implying sequential growth through the year. The company expects non-GAAP earnings of 9-14 cents per share.

Stratasys continues to forecast non-GAAP gross margin of 46.7-47.1% and non-GAAP operating margin of 0.7-1.5%. The company noted that its outlook remains subject to foreign exchange rate and tariff uncertainty.

Zacks Rank & Stocks to ConsiderABBNY sports a Zacks Rank #1 (Strong Buy), whereas Alamo Group and Enersys carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rates for ABBNY, Alamo Group and Enersys are currently pegged at 17.25%, 16% and 15%, respectively.