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Side-by-side financial comparison of Anika Therapeutics, Inc. (ANIK) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
iRhythm Holdings, Inc. is the larger business by last-quarter revenue ($208.9M vs $30.6M, roughly 6.8× Anika Therapeutics, Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs 1.0%, a 1.7% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 0.0%). iRhythm Holdings, Inc. produced more free cash flow last quarter ($14.5M vs $4.0M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 2.7%).
iRhythm Holdings is a digital healthcare company focused on cardiac care, developing and commercializing wearable ambulatory heart monitoring devices paired with AI-powered analytical tools. It primarily serves healthcare providers and patients across the United States, helping to detect undiagnosed arrhythmias such as atrial fibrillation through convenient long-term heart rhythm tracking that delivers actionable clinical insights.
ANIK vs IRTC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $30.6M | $208.9M |
| Net Profit | $292.0K | $5.6M |
| Gross Margin | 62.6% | 70.9% |
| Operating Margin | 2.1% | 1.1% |
| Net Margin | 1.0% | 2.7% |
| Revenue YoY | 0.0% | 27.1% |
| Net Profit YoY | 101.3% | 518.5% |
| EPS (diluted) | $0.02 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $30.6M | $208.9M | ||
| Q3 25 | $27.8M | $192.9M | ||
| Q2 25 | $28.2M | $186.7M | ||
| Q1 25 | $26.2M | $158.7M | ||
| Q4 24 | $30.6M | $164.3M | ||
| Q3 24 | $29.6M | $147.5M | ||
| Q2 24 | $30.7M | $148.0M | ||
| Q1 24 | $29.0M | $131.9M |
| Q4 25 | $292.0K | $5.6M | ||
| Q3 25 | $-2.3M | $-5.2M | ||
| Q2 25 | $-4.0M | $-14.2M | ||
| Q1 25 | $-4.9M | $-30.7M | ||
| Q4 24 | $-21.9M | $-1.3M | ||
| Q3 24 | $-29.9M | $-46.2M | ||
| Q2 24 | $-88.0K | $-20.1M | ||
| Q1 24 | $-4.5M | $-45.7M |
| Q4 25 | 62.6% | 70.9% | ||
| Q3 25 | 56.0% | 71.1% | ||
| Q2 25 | 50.9% | 71.2% | ||
| Q1 25 | 56.1% | 68.8% | ||
| Q4 24 | 56.0% | 70.0% | ||
| Q3 24 | 65.7% | 68.8% | ||
| Q2 24 | 66.7% | 69.9% | ||
| Q1 24 | 65.4% | 66.3% |
| Q4 25 | 2.1% | 1.1% | ||
| Q3 25 | -11.6% | -4.4% | ||
| Q2 25 | -14.8% | -10.0% | ||
| Q1 25 | -16.4% | -20.5% | ||
| Q4 24 | -2.3% | -2.5% | ||
| Q3 24 | -0.3% | -34.1% | ||
| Q2 24 | -5.9% | -15.5% | ||
| Q1 24 | -8.6% | -28.9% |
| Q4 25 | 1.0% | 2.7% | ||
| Q3 25 | -8.4% | -2.7% | ||
| Q2 25 | -14.1% | -7.6% | ||
| Q1 25 | -18.6% | -19.3% | ||
| Q4 24 | -71.4% | -0.8% | ||
| Q3 24 | -101.2% | -31.3% | ||
| Q2 24 | -0.3% | -13.6% | ||
| Q1 24 | -15.6% | -34.6% |
| Q4 25 | $0.02 | $0.18 | ||
| Q3 25 | $-0.16 | $-0.16 | ||
| Q2 25 | $-0.28 | $-0.44 | ||
| Q1 25 | $-0.34 | $-0.97 | ||
| Q4 24 | $-1.49 | $-0.03 | ||
| Q3 24 | $-2.03 | $-1.48 | ||
| Q2 24 | $0.00 | $-0.65 | ||
| Q1 24 | $-0.31 | $-1.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $81.2M | $583.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $143.5M | $152.7M |
| Total Assets | $190.3M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.2M | $583.8M | ||
| Q3 25 | $80.2M | $565.2M | ||
| Q2 25 | $77.1M | $545.5M | ||
| Q1 25 | $75.4M | $520.6M | ||
| Q4 24 | $79.2M | $535.6M | ||
| Q3 24 | $90.7M | $522.0M | ||
| Q2 24 | $96.6M | $561.5M | ||
| Q1 24 | $100.7M | $569.1M |
| Q4 25 | $143.5M | $152.7M | ||
| Q3 25 | $146.8M | $121.9M | ||
| Q2 25 | $147.7M | $103.7M | ||
| Q1 25 | $148.4M | $86.7M | ||
| Q4 24 | $154.0M | $90.9M | ||
| Q3 24 | $179.9M | $71.8M | ||
| Q2 24 | $210.3M | $99.2M | ||
| Q1 24 | $208.5M | $90.3M |
| Q4 25 | $190.3M | $1.0B | ||
| Q3 25 | $189.4M | $995.2M | ||
| Q2 25 | $187.7M | $964.0M | ||
| Q1 25 | $190.6M | $926.1M | ||
| Q4 24 | $202.7M | $931.4M | ||
| Q3 24 | $231.4M | $909.7M | ||
| Q2 24 | $262.7M | $919.2M | ||
| Q1 24 | $263.7M | $909.8M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $4.6M | $26.2M |
| Free Cash FlowOCF − Capex | $4.0M | $14.5M |
| FCF MarginFCF / Revenue | 13.0% | 6.9% |
| Capex IntensityCapex / Revenue | 2.1% | 5.6% |
| Cash ConversionOCF / Net Profit | 15.88× | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $4.4M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.6M | $26.2M | ||
| Q3 25 | $6.9M | $34.9M | ||
| Q2 25 | $-189.0K | $27.7M | ||
| Q1 25 | $-130.0K | $-7.9M | ||
| Q4 24 | $1.6M | $19.2M | ||
| Q3 24 | $5.0M | $24.3M | ||
| Q2 24 | $-1.1M | $11.8M | ||
| Q1 24 | $-126.0K | $-52.0M |
| Q4 25 | $4.0M | $14.5M | ||
| Q3 25 | $5.0M | $20.1M | ||
| Q2 25 | $-1.7M | $17.3M | ||
| Q1 25 | $-3.0M | $-17.3M | ||
| Q4 24 | $275.0K | $12.4M | ||
| Q3 24 | $3.8M | $15.5M | ||
| Q2 24 | $-4.5M | $3.4M | ||
| Q1 24 | $-1.9M | $-61.8M |
| Q4 25 | 13.0% | 6.9% | ||
| Q3 25 | 17.9% | 10.4% | ||
| Q2 25 | -5.9% | 9.3% | ||
| Q1 25 | -11.3% | -10.9% | ||
| Q4 24 | 0.9% | 7.5% | ||
| Q3 24 | 12.9% | 10.5% | ||
| Q2 24 | -14.6% | 2.3% | ||
| Q1 24 | -6.7% | -46.8% |
| Q4 25 | 2.1% | 5.6% | ||
| Q3 25 | 6.8% | 7.7% | ||
| Q2 25 | 5.2% | 5.6% | ||
| Q1 25 | 10.8% | 5.9% | ||
| Q4 24 | 4.3% | 4.2% | ||
| Q3 24 | 4.1% | 6.0% | ||
| Q2 24 | 11.1% | 5.7% | ||
| Q1 24 | 6.2% | 7.4% |
| Q4 25 | 15.88× | 4.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIK
| OEM Channel | $17.3M | 57% |
| Commercial Channel | $13.3M | 43% |
IRTC
| Commercial Payors | $111.7M | 53% |
| Centers For Medicare And Medicaid | $49.2M | 24% |
| Healthcare Institutions | $34.3M | 16% |
| Non Contracted Third Party Payors | $13.7M | 7% |
