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Side-by-side financial comparison of APPIAN CORP (APPN) 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 $202.9M, roughly 1.0× APPIAN CORP). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs -2.5%, a 5.2% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 21.7%). iRhythm Holdings, Inc. produced more free cash flow last quarter ($14.5M vs $270.0K). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 16.4%).
Appian Corporation is an American cloud computing and enterprise software company headquartered in McLean, Virginia, part of the Dulles Technology Corridor. The company sells a platform as a service (PaaS) for building enterprise software applications. It is focused on low-code development, process mining, business process management, and case management markets in North America, Europe, the Middle East and Southeast Asia.
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.
APPN vs IRTC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $208.9M |
| Net Profit | $-5.1M | $5.6M |
| Gross Margin | 64.8% | 70.9% |
| Operating Margin | -0.3% | 1.1% |
| Net Margin | -2.5% | 2.7% |
| Revenue YoY | 21.7% | 27.1% |
| Net Profit YoY | 62.6% | 518.5% |
| EPS (diluted) | $-0.06 | $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 | $202.9M | $208.9M | ||
| Q3 25 | $187.0M | $192.9M | ||
| Q2 25 | $170.6M | $186.7M | ||
| Q1 25 | $166.4M | $158.7M | ||
| Q4 24 | $166.7M | $164.3M | ||
| Q3 24 | $154.1M | $147.5M | ||
| Q2 24 | $146.4M | $148.0M | ||
| Q1 24 | $149.8M | $131.9M |
| Q4 25 | $-5.1M | $5.6M | ||
| Q3 25 | $7.8M | $-5.2M | ||
| Q2 25 | $-312.0K | $-14.2M | ||
| Q1 25 | $-1.2M | $-30.7M | ||
| Q4 24 | $-13.6M | $-1.3M | ||
| Q3 24 | $-2.1M | $-46.2M | ||
| Q2 24 | $-43.6M | $-20.1M | ||
| Q1 24 | $-32.9M | $-45.7M |
| Q4 25 | 64.8% | 70.9% | ||
| Q3 25 | 75.8% | 71.1% | ||
| Q2 25 | 74.3% | 71.2% | ||
| Q1 25 | 76.6% | 68.8% | ||
| Q4 24 | 67.8% | 70.0% | ||
| Q3 24 | 75.9% | 68.8% | ||
| Q2 24 | 73.1% | 69.9% | ||
| Q1 24 | 74.6% | 66.3% |
| Q4 25 | -0.3% | 1.1% | ||
| Q3 25 | 7.0% | -4.4% | ||
| Q2 25 | -6.4% | -10.0% | ||
| Q1 25 | -0.5% | -20.5% | ||
| Q4 24 | 3.0% | -2.5% | ||
| Q3 24 | -4.6% | -34.1% | ||
| Q2 24 | -26.8% | -15.5% | ||
| Q1 24 | -13.0% | -28.9% |
| Q4 25 | -2.5% | 2.7% | ||
| Q3 25 | 4.2% | -2.7% | ||
| Q2 25 | -0.2% | -7.6% | ||
| Q1 25 | -0.7% | -19.3% | ||
| Q4 24 | -8.2% | -0.8% | ||
| Q3 24 | -1.4% | -31.3% | ||
| Q2 24 | -29.8% | -13.6% | ||
| Q1 24 | -22.0% | -34.6% |
| Q4 25 | $-0.06 | $0.18 | ||
| Q3 25 | $0.10 | $-0.16 | ||
| Q2 25 | $0.00 | $-0.44 | ||
| Q1 25 | $-0.02 | $-0.97 | ||
| Q4 24 | $-0.18 | $-0.03 | ||
| Q3 24 | $-0.03 | $-1.48 | ||
| Q2 24 | $-0.60 | $-0.65 | ||
| Q1 24 | $-0.45 | $-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 | $187.2M | $583.8M |
| Total DebtLower is stronger | $240.8M | — |
| Stockholders' EquityBook value | $-47.0M | $152.7M |
| Total Assets | $691.4M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $583.8M | ||
| Q3 25 | $191.6M | $565.2M | ||
| Q2 25 | $184.8M | $545.5M | ||
| Q1 25 | $199.7M | $520.6M | ||
| Q4 24 | $159.9M | $535.6M | ||
| Q3 24 | $99.2M | $522.0M | ||
| Q2 24 | $120.8M | $561.5M | ||
| Q1 24 | $170.1M | $569.1M |
| Q4 25 | $240.8M | — | ||
| Q3 25 | $245.7M | — | ||
| Q2 25 | $245.6M | — | ||
| Q1 25 | $248.0M | — | ||
| Q4 24 | $250.4M | — | ||
| Q3 24 | $252.8M | — | ||
| Q2 24 | $254.0M | — | ||
| Q1 24 | $255.1M | — |
| Q4 25 | $-47.0M | $152.7M | ||
| Q3 25 | $-48.5M | $121.9M | ||
| Q2 25 | $-53.7M | $103.7M | ||
| Q1 25 | $-31.7M | $86.7M | ||
| Q4 24 | $-32.6M | $90.9M | ||
| Q3 24 | $-49.8M | $71.8M | ||
| Q2 24 | $-45.7M | $99.2M | ||
| Q1 24 | $-9.7M | $90.3M |
| Q4 25 | $691.4M | $1.0B | ||
| Q3 25 | $611.7M | $995.2M | ||
| Q2 25 | $590.7M | $964.0M | ||
| Q1 25 | $592.9M | $926.1M | ||
| Q4 24 | $621.0M | $931.4M | ||
| Q3 24 | $549.9M | $909.7M | ||
| Q2 24 | $554.6M | $919.2M | ||
| Q1 24 | $595.4M | $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 | $1.1M | $26.2M |
| Free Cash FlowOCF − Capex | $270.0K | $14.5M |
| FCF MarginFCF / Revenue | 0.1% | 6.9% |
| Capex IntensityCapex / Revenue | 0.4% | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $26.2M | ||
| Q3 25 | $18.7M | $34.9M | ||
| Q2 25 | $-1.9M | $27.7M | ||
| Q1 25 | $45.0M | $-7.9M | ||
| Q4 24 | $13.9M | $19.2M | ||
| Q3 24 | $-8.2M | $24.3M | ||
| Q2 24 | $-17.6M | $11.8M | ||
| Q1 24 | $18.9M | $-52.0M |
| Q4 25 | $270.0K | $14.5M | ||
| Q3 25 | $18.1M | $20.1M | ||
| Q2 25 | $-3.1M | $17.3M | ||
| Q1 25 | $44.3M | $-17.3M | ||
| Q4 24 | $13.4M | $12.4M | ||
| Q3 24 | $-8.6M | $15.5M | ||
| Q2 24 | $-18.3M | $3.4M | ||
| Q1 24 | $16.7M | $-61.8M |
| Q4 25 | 0.1% | 6.9% | ||
| Q3 25 | 9.7% | 10.4% | ||
| Q2 25 | -1.8% | 9.3% | ||
| Q1 25 | 26.6% | -10.9% | ||
| Q4 24 | 8.0% | 7.5% | ||
| Q3 24 | -5.6% | 10.5% | ||
| Q2 24 | -12.5% | 2.3% | ||
| Q1 24 | 11.1% | -46.8% |
| Q4 25 | 0.4% | 5.6% | ||
| Q3 25 | 0.3% | 7.7% | ||
| Q2 25 | 0.7% | 5.6% | ||
| Q1 25 | 0.4% | 5.9% | ||
| Q4 24 | 0.3% | 4.2% | ||
| Q3 24 | 0.2% | 6.0% | ||
| Q2 24 | 0.5% | 5.7% | ||
| Q1 24 | 1.5% | 7.4% |
| Q4 25 | — | 4.70× | ||
| Q3 25 | 2.39× | — | ||
| 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
APPN
| Subscriptions Software And Support | $162.3M | 80% |
| Professional Services | $40.6M | 20% |
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% |
