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Side-by-side financial comparison of Bandwidth Inc. (BAND) 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 $208.8M, roughly 1.0× Bandwidth Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs 1.9%, a 0.8% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 20.1%). iRhythm Holdings, Inc. produced more free cash flow last quarter ($14.5M vs $-1.0M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 9.7%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
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.
BAND vs IRTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $208.9M |
| Net Profit | $4.0M | $5.6M |
| Gross Margin | 37.3% | 70.9% |
| Operating Margin | 60.5% | 1.1% |
| Net Margin | 1.9% | 2.7% |
| Revenue YoY | 20.1% | 27.1% |
| Net Profit YoY | 200.0% | 518.5% |
| EPS (diluted) | $-0.08 | $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.
| Q1 26 | $208.8M | — | ||
| Q4 25 | $207.7M | $208.9M | ||
| Q3 25 | $191.9M | $192.9M | ||
| Q2 25 | $180.0M | $186.7M | ||
| Q1 25 | $174.2M | $158.7M | ||
| Q4 24 | $210.0M | $164.3M | ||
| Q3 24 | $193.9M | $147.5M | ||
| Q2 24 | $173.6M | $148.0M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $5.6M | ||
| Q3 25 | $-1.2M | $-5.2M | ||
| Q2 25 | $-4.9M | $-14.2M | ||
| Q1 25 | $-3.7M | $-30.7M | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | $413.0K | $-46.2M | ||
| Q2 24 | $4.1M | $-20.1M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | 70.9% | ||
| Q3 25 | 38.5% | 71.1% | ||
| Q2 25 | 39.8% | 71.2% | ||
| Q1 25 | 41.0% | 68.8% | ||
| Q4 24 | 36.4% | 70.0% | ||
| Q3 24 | 37.7% | 68.8% | ||
| Q2 24 | 37.3% | 69.9% |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | 1.1% | ||
| Q3 25 | -1.0% | -4.4% | ||
| Q2 25 | -2.1% | -10.0% | ||
| Q1 25 | -2.7% | -20.5% | ||
| Q4 24 | -1.3% | -2.5% | ||
| Q3 24 | -0.5% | -34.1% | ||
| Q2 24 | -3.5% | -15.5% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | -0.6% | -2.7% | ||
| Q2 25 | -2.7% | -7.6% | ||
| Q1 25 | -2.1% | -19.3% | ||
| Q4 24 | — | -0.8% | ||
| Q3 24 | 0.2% | -31.3% | ||
| Q2 24 | 2.3% | -13.6% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.18 | ||
| Q3 25 | $-0.04 | $-0.16 | ||
| Q2 25 | $-0.16 | $-0.44 | ||
| Q1 25 | $-0.13 | $-0.97 | ||
| Q4 24 | $0.27 | $-0.03 | ||
| Q3 24 | $0.01 | $-1.48 | ||
| Q2 24 | $-0.17 | $-0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $583.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $152.7M |
| Total Assets | $984.2M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $583.8M | ||
| Q3 25 | $80.4M | $565.2M | ||
| Q2 25 | $68.1M | $545.5M | ||
| Q1 25 | $41.7M | $520.6M | ||
| Q4 24 | $83.8M | $535.6M | ||
| Q3 24 | $79.9M | $522.0M | ||
| Q2 24 | $76.4M | $561.5M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $152.7M | ||
| Q3 25 | $392.7M | $121.9M | ||
| Q2 25 | $384.5M | $103.7M | ||
| Q1 25 | $345.4M | $86.7M | ||
| Q4 24 | $312.5M | $90.9M | ||
| Q3 24 | $336.6M | $71.8M | ||
| Q2 24 | $307.4M | $99.2M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.0B | $995.2M | ||
| Q2 25 | $1.0B | $964.0M | ||
| Q1 25 | $964.4M | $926.1M | ||
| Q4 24 | $989.2M | $931.4M | ||
| Q3 24 | $1.0B | $909.7M | ||
| Q2 24 | $1.0B | $919.2M |
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 | — | $26.2M |
| Free Cash FlowOCF − Capex | $-1.0M | $14.5M |
| FCF MarginFCF / Revenue | -0.5% | 6.9% |
| Capex IntensityCapex / Revenue | — | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $26.2M | ||
| Q3 25 | $22.2M | $34.9M | ||
| Q2 25 | $31.7M | $27.7M | ||
| Q1 25 | $-3.1M | $-7.9M | ||
| Q4 24 | $36.5M | $19.2M | ||
| Q3 24 | $20.5M | $24.3M | ||
| Q2 24 | $24.4M | $11.8M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $14.5M | ||
| Q3 25 | — | $20.1M | ||
| Q2 25 | — | $17.3M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $15.5M | ||
| Q2 24 | — | $3.4M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | -10.9% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.6% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 5.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 49.55× | — | ||
| Q2 24 | 6.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
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% |
