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Side-by-side financial comparison of BLACKBERRY Ltd (BB) 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 $141.8M, roughly 1.5× BLACKBERRY Ltd). BLACKBERRY Ltd runs the higher net margin — 9.7% vs 2.7%, a 7.0% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs -0.8%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 17.8%).
BlackBerry Limited, formerly Research In Motion (RIM), is a Canadian software company specializing in secure communications and the Internet of Things (IoT). Founded in 1984, it developed the BlackBerry brand of two-way pagers, smartphones, and tablets. The company later transitioned to providing software and services and holds critical software application patents.
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.
BB vs IRTC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $208.9M |
| Net Profit | $13.7M | $5.6M |
| Gross Margin | 77.5% | 70.9% |
| Operating Margin | 8.4% | 1.1% |
| Net Margin | 9.7% | 2.7% |
| Revenue YoY | -0.8% | 27.1% |
| Net Profit YoY | 224.5% | 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 | $141.8M | $208.9M | ||
| Q3 25 | $129.6M | $192.9M | ||
| Q2 25 | $121.7M | $186.7M | ||
| Q1 25 | $141.7M | $158.7M | ||
| Q4 24 | $143.6M | $164.3M | ||
| Q3 24 | $126.2M | $147.5M | ||
| Q2 24 | $123.4M | $148.0M | ||
| Q1 24 | $102.1M | $131.9M |
| Q4 25 | $13.7M | $5.6M | ||
| Q3 25 | $13.3M | $-5.2M | ||
| Q2 25 | $1.9M | $-14.2M | ||
| Q1 25 | $-7.4M | $-30.7M | ||
| Q4 24 | $-10.5M | $-1.3M | ||
| Q3 24 | $-19.7M | $-46.2M | ||
| Q2 24 | $-41.4M | $-20.1M | ||
| Q1 24 | $-56.2M | $-45.7M |
| Q4 25 | 77.5% | 70.9% | ||
| Q3 25 | 74.5% | 71.1% | ||
| Q2 25 | 74.2% | 71.2% | ||
| Q1 25 | 73.5% | 68.8% | ||
| Q4 24 | 78.1% | 70.0% | ||
| Q3 24 | 70.2% | 68.8% | ||
| Q2 24 | 72.9% | 69.9% | ||
| Q1 24 | — | 66.3% |
| Q4 25 | 8.4% | 1.1% | ||
| Q3 25 | 8.9% | -4.4% | ||
| Q2 25 | 1.6% | -10.0% | ||
| Q1 25 | -5.6% | -20.5% | ||
| Q4 24 | 13.6% | -2.5% | ||
| Q3 24 | 1.7% | -34.1% | ||
| Q2 24 | -10.5% | -15.5% | ||
| Q1 24 | 50.0% | -28.9% |
| Q4 25 | 9.7% | 2.7% | ||
| Q3 25 | 10.3% | -2.7% | ||
| Q2 25 | 1.6% | -7.6% | ||
| Q1 25 | -5.2% | -19.3% | ||
| Q4 24 | -7.3% | -0.8% | ||
| Q3 24 | -15.6% | -31.3% | ||
| Q2 24 | -33.5% | -13.6% | ||
| Q1 24 | -55.0% | -34.6% |
| Q4 25 | $0.02 | $0.18 | ||
| Q3 25 | $0.02 | $-0.16 | ||
| Q2 25 | $0.00 | $-0.44 | ||
| Q1 25 | $-0.01 | $-0.97 | ||
| Q4 24 | $-0.02 | $-0.03 | ||
| Q3 24 | $-0.03 | $-1.48 | ||
| Q2 24 | $-0.07 | $-0.65 | ||
| Q1 24 | $-0.08 | $-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 | $304.2M | $583.8M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $152.7M |
| Total Assets | $1.2B | $1.0B |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $583.8M | ||
| Q3 25 | $290.5M | $565.2M | ||
| Q2 25 | $306.6M | $545.5M | ||
| Q1 25 | $337.8M | $520.6M | ||
| Q4 24 | $220.0M | $535.6M | ||
| Q3 24 | $211.0M | $522.0M | ||
| Q2 24 | $229.0M | $561.5M | ||
| Q1 24 | $237.1M | $569.1M |
| Q4 25 | $196.2M | — | ||
| Q3 25 | $195.9M | — | ||
| Q2 25 | $195.6M | — | ||
| Q1 25 | $195.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $194.1M | — |
| Q4 25 | $741.1M | $152.7M | ||
| Q3 25 | $725.1M | $121.9M | ||
| Q2 25 | $725.1M | $103.7M | ||
| Q1 25 | $719.9M | $86.7M | ||
| Q4 24 | $725.2M | $90.9M | ||
| Q3 24 | $732.1M | $71.8M | ||
| Q2 24 | $742.6M | $99.2M | ||
| Q1 24 | $775.1M | $90.3M |
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $1.2B | $995.2M | ||
| Q2 25 | $1.2B | $964.0M | ||
| Q1 25 | $1.3B | $926.1M | ||
| Q4 24 | $1.3B | $931.4M | ||
| Q3 24 | $1.3B | $909.7M | ||
| Q2 24 | $1.3B | $919.2M | ||
| Q1 24 | $1.4B | $909.8M |
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.25× | — |
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 | $18.3M | $26.2M |
| Free Cash FlowOCF − Capex | $17.4M | $14.5M |
| FCF MarginFCF / Revenue | 12.3% | 6.9% |
| Capex IntensityCapex / Revenue | 0.6% | 5.6% |
| Cash ConversionOCF / Net Profit | 1.34× | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $26.2M | ||
| Q3 25 | $3.9M | $34.9M | ||
| Q2 25 | $-18.0M | $27.7M | ||
| Q1 25 | $41.6M | $-7.9M | ||
| Q4 24 | $6.0M | $19.2M | ||
| Q3 24 | $-16.0M | $24.3M | ||
| Q2 24 | $-15.1M | $11.8M | ||
| Q1 24 | $-15.5M | $-52.0M |
| Q4 25 | $17.4M | $14.5M | ||
| Q3 25 | $3.1M | $20.1M | ||
| Q2 25 | $-18.9M | $17.3M | ||
| Q1 25 | $41.2M | $-17.3M | ||
| Q4 24 | $5.2M | $12.4M | ||
| Q3 24 | $-16.5M | $15.5M | ||
| Q2 24 | $-16.5M | $3.4M | ||
| Q1 24 | $-17.6M | $-61.8M |
| Q4 25 | 12.3% | 6.9% | ||
| Q3 25 | 2.4% | 10.4% | ||
| Q2 25 | -15.5% | 9.3% | ||
| Q1 25 | 29.1% | -10.9% | ||
| Q4 24 | 3.6% | 7.5% | ||
| Q3 24 | -13.1% | 10.5% | ||
| Q2 24 | -13.4% | 2.3% | ||
| Q1 24 | -17.2% | -46.8% |
| Q4 25 | 0.6% | 5.6% | ||
| Q3 25 | 0.6% | 7.7% | ||
| Q2 25 | 0.7% | 5.6% | ||
| Q1 25 | 0.3% | 5.9% | ||
| Q4 24 | 0.6% | 4.2% | ||
| Q3 24 | 0.4% | 6.0% | ||
| Q2 24 | 1.1% | 5.7% | ||
| Q1 24 | 2.1% | 7.4% |
| Q4 25 | 1.34× | 4.70× | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | -9.47× | — | ||
| 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
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
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% |
