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Side-by-side financial comparison of BLACKLINE, INC. (BL) 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 $183.2M, roughly 1.1× BLACKLINE, INC.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs 2.7%, a 0.0% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 8.1%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 7.9%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
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.
BL vs IRTC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $208.9M |
| Net Profit | $4.9M | $5.6M |
| Gross Margin | 75.2% | 70.9% |
| Operating Margin | 3.7% | 1.1% |
| Net Margin | 2.7% | 2.7% |
| Revenue YoY | 8.1% | 27.1% |
| Net Profit YoY | -91.3% | 518.5% |
| EPS (diluted) | $0.07 | $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 | $183.2M | $208.9M | ||
| Q3 25 | $178.3M | $192.9M | ||
| Q2 25 | $172.0M | $186.7M | ||
| Q1 25 | $166.9M | $158.7M | ||
| Q4 24 | $169.5M | $164.3M | ||
| Q3 24 | $165.9M | $147.5M | ||
| Q2 24 | $160.5M | $148.0M | ||
| Q1 24 | $157.5M | $131.9M |
| Q4 25 | $4.9M | $5.6M | ||
| Q3 25 | $5.3M | $-5.2M | ||
| Q2 25 | $8.3M | $-14.2M | ||
| Q1 25 | $6.1M | $-30.7M | ||
| Q4 24 | $56.4M | $-1.3M | ||
| Q3 24 | $17.2M | $-46.2M | ||
| Q2 24 | $76.7M | $-20.1M | ||
| Q1 24 | $10.8M | $-45.7M |
| Q4 25 | 75.2% | 70.9% | ||
| Q3 25 | 75.1% | 71.1% | ||
| Q2 25 | 75.2% | 71.2% | ||
| Q1 25 | 75.5% | 68.8% | ||
| Q4 24 | 75.6% | 70.0% | ||
| Q3 24 | 75.2% | 68.8% | ||
| Q2 24 | 74.9% | 69.9% | ||
| Q1 24 | 75.2% | 66.3% |
| Q4 25 | 3.7% | 1.1% | ||
| Q3 25 | 4.3% | -4.4% | ||
| Q2 25 | 4.4% | -10.0% | ||
| Q1 25 | 2.1% | -20.5% | ||
| Q4 24 | 3.7% | -2.5% | ||
| Q3 24 | 5.0% | -34.1% | ||
| Q2 24 | 1.4% | -15.5% | ||
| Q1 24 | 1.1% | -28.9% |
| Q4 25 | 2.7% | 2.7% | ||
| Q3 25 | 3.0% | -2.7% | ||
| Q2 25 | 4.8% | -7.6% | ||
| Q1 25 | 3.6% | -19.3% | ||
| Q4 24 | 33.3% | -0.8% | ||
| Q3 24 | 10.4% | -31.3% | ||
| Q2 24 | 47.8% | -13.6% | ||
| Q1 24 | 6.9% | -34.6% |
| Q4 25 | $0.07 | $0.18 | ||
| Q3 25 | $0.09 | $-0.16 | ||
| Q2 25 | $0.13 | $-0.44 | ||
| Q1 25 | $0.10 | $-0.97 | ||
| Q4 24 | $0.79 | $-0.03 | ||
| Q3 24 | $0.27 | $-1.48 | ||
| Q2 24 | $0.22 | $-0.65 | ||
| Q1 24 | $0.17 | $-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 | $390.0M | $583.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $152.7M |
| Total Assets | $1.8B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $583.8M | ||
| Q3 25 | $419.9M | $565.2M | ||
| Q2 25 | $459.1M | $545.5M | ||
| Q1 25 | $479.5M | $520.6M | ||
| Q4 24 | $885.9M | $535.6M | ||
| Q3 24 | $725.3M | $522.0M | ||
| Q2 24 | $616.6M | $561.5M | ||
| Q1 24 | $331.4M | $569.1M |
| Q4 25 | $332.3M | $152.7M | ||
| Q3 25 | $328.3M | $121.9M | ||
| Q2 25 | $414.0M | $103.7M | ||
| Q1 25 | $417.9M | $86.7M | ||
| Q4 24 | $446.7M | $90.9M | ||
| Q3 24 | $367.9M | $71.8M | ||
| Q2 24 | $325.8M | $99.2M | ||
| Q1 24 | $279.8M | $90.3M |
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.7B | $995.2M | ||
| Q2 25 | $1.8B | $964.0M | ||
| Q1 25 | $1.8B | $926.1M | ||
| Q4 24 | $1.8B | $931.4M | ||
| Q3 24 | $1.7B | $909.7M | ||
| Q2 24 | $1.9B | $919.2M | ||
| Q1 24 | $2.1B | $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 | $26.7M | $26.2M |
| Free Cash FlowOCF − Capex | $26.1M | $14.5M |
| FCF MarginFCF / Revenue | 14.2% | 6.9% |
| Capex IntensityCapex / Revenue | 0.3% | 5.6% |
| Cash ConversionOCF / Net Profit | 5.46× | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $26.2M | ||
| Q3 25 | $63.8M | $34.9M | ||
| Q2 25 | $32.3M | $27.7M | ||
| Q1 25 | $46.7M | $-7.9M | ||
| Q4 24 | $43.8M | $19.2M | ||
| Q3 24 | $55.9M | $24.3M | ||
| Q2 24 | $40.7M | $11.8M | ||
| Q1 24 | $50.4M | $-52.0M |
| Q4 25 | $26.1M | $14.5M | ||
| Q3 25 | $63.3M | $20.1M | ||
| Q2 25 | $31.4M | $17.3M | ||
| Q1 25 | $40.8M | $-17.3M | ||
| Q4 24 | $43.0M | $12.4M | ||
| Q3 24 | $55.5M | $15.5M | ||
| Q2 24 | $40.0M | $3.4M | ||
| Q1 24 | $50.1M | $-61.8M |
| Q4 25 | 14.2% | 6.9% | ||
| Q3 25 | 35.5% | 10.4% | ||
| Q2 25 | 18.2% | 9.3% | ||
| Q1 25 | 24.4% | -10.9% | ||
| Q4 24 | 25.4% | 7.5% | ||
| Q3 24 | 33.5% | 10.5% | ||
| Q2 24 | 24.9% | 2.3% | ||
| Q1 24 | 31.8% | -46.8% |
| Q4 25 | 0.3% | 5.6% | ||
| Q3 25 | 0.3% | 7.7% | ||
| Q2 25 | 0.6% | 5.6% | ||
| Q1 25 | 3.6% | 5.9% | ||
| Q4 24 | 0.4% | 4.2% | ||
| Q3 24 | 0.2% | 6.0% | ||
| Q2 24 | 0.4% | 5.7% | ||
| Q1 24 | 0.2% | 7.4% |
| Q4 25 | 5.46× | 4.70× | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
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% |
