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Side-by-side financial comparison of PATHWARD FINANCIAL, INC. (CASH) 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 $173.1M, roughly 1.2× PATHWARD FINANCIAL, INC.). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 2.7%, a 17.6% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs -0.2%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs -18.0%).
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
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.
CASH vs IRTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.1M | $208.9M |
| Net Profit | $35.2M | $5.6M |
| Gross Margin | — | 70.9% |
| Operating Margin | 24.6% | 1.1% |
| Net Margin | 20.3% | 2.7% |
| Revenue YoY | -0.2% | 27.1% |
| Net Profit YoY | 11.9% | 518.5% |
| EPS (diluted) | $1.57 | $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 | $173.1M | $208.9M | ||
| Q3 25 | $186.7M | $192.9M | ||
| Q2 25 | $195.8M | $186.7M | ||
| Q1 25 | $274.8M | $158.7M | ||
| Q4 24 | $182.6M | $164.3M | ||
| Q3 24 | $179.5M | $147.5M | ||
| Q2 24 | $188.6M | $148.0M | ||
| Q1 24 | $257.6M | $131.9M |
| Q4 25 | $35.2M | $5.6M | ||
| Q3 25 | $38.8M | $-5.2M | ||
| Q2 25 | $42.1M | $-14.2M | ||
| Q1 25 | $75.0M | $-30.7M | ||
| Q4 24 | $30.0M | $-1.3M | ||
| Q3 24 | $33.5M | $-46.2M | ||
| Q2 24 | $44.9M | $-20.1M | ||
| Q1 24 | $69.9M | $-45.7M |
| Q4 25 | — | 70.9% | ||
| Q3 25 | — | 71.1% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 68.8% | ||
| Q4 24 | — | 70.0% | ||
| Q3 24 | — | 68.8% | ||
| Q2 24 | — | 69.9% | ||
| Q1 24 | — | 66.3% |
| Q4 25 | 24.6% | 1.1% | ||
| Q3 25 | 25.9% | -4.4% | ||
| Q2 25 | 24.1% | -10.0% | ||
| Q1 25 | 33.2% | -20.5% | ||
| Q4 24 | 19.8% | -2.5% | ||
| Q3 24 | 20.9% | -34.1% | ||
| Q2 24 | 27.1% | -15.5% | ||
| Q1 24 | 33.8% | -28.9% |
| Q4 25 | 20.3% | 2.7% | ||
| Q3 25 | 20.8% | -2.7% | ||
| Q2 25 | 21.5% | -7.6% | ||
| Q1 25 | 27.3% | -19.3% | ||
| Q4 24 | 16.4% | -0.8% | ||
| Q3 24 | 18.7% | -31.3% | ||
| Q2 24 | 23.8% | -13.6% | ||
| Q1 24 | 27.1% | -34.6% |
| Q4 25 | $1.57 | $0.18 | ||
| Q3 25 | $1.69 | $-0.16 | ||
| Q2 25 | $1.81 | $-0.44 | ||
| Q1 25 | $3.14 | $-0.97 | ||
| Q4 24 | $1.23 | $-0.03 | ||
| Q3 24 | $1.34 | $-1.48 | ||
| Q2 24 | $1.78 | $-0.65 | ||
| Q1 24 | $2.74 | $-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 | $331.2M | $583.8M |
| Total DebtLower is stronger | $33.5M | — |
| Stockholders' EquityBook value | $854.5M | $152.7M |
| Total Assets | $7.6B | $1.0B |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $331.2M | $583.8M | ||
| Q3 25 | $120.6M | $565.2M | ||
| Q2 25 | $258.3M | $545.5M | ||
| Q1 25 | $254.2M | $520.6M | ||
| Q4 24 | $597.4M | $535.6M | ||
| Q3 24 | $158.3M | $522.0M | ||
| Q2 24 | $298.9M | $561.5M | ||
| Q1 24 | $347.9M | $569.1M |
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | — | ||
| Q4 24 | $33.4M | — | ||
| Q3 24 | $33.4M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $33.4M | — |
| Q4 25 | $854.5M | $152.7M | ||
| Q3 25 | $858.0M | $121.9M | ||
| Q2 25 | $819.0M | $103.7M | ||
| Q1 25 | $814.7M | $86.7M | ||
| Q4 24 | $758.3M | $90.9M | ||
| Q3 24 | $822.5M | $71.8M | ||
| Q2 24 | $748.4M | $99.2M | ||
| Q1 24 | $719.5M | $90.3M |
| Q4 25 | $7.6B | $1.0B | ||
| Q3 25 | $7.2B | $995.2M | ||
| Q2 25 | $7.2B | $964.0M | ||
| Q1 25 | $7.0B | $926.1M | ||
| Q4 24 | $7.6B | $931.4M | ||
| Q3 24 | $7.5B | $909.7M | ||
| Q2 24 | $7.5B | $919.2M | ||
| Q1 24 | $7.4B | $909.8M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — | ||
| Q1 24 | 0.05× | — |
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 | $108.3M | $26.2M |
| Free Cash FlowOCF − Capex | $104.1M | $14.5M |
| FCF MarginFCF / Revenue | 60.1% | 6.9% |
| Capex IntensityCapex / Revenue | 2.4% | 5.6% |
| Cash ConversionOCF / Net Profit | 3.08× | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $616.8M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.3M | $26.2M | ||
| Q3 25 | $303.7M | $34.9M | ||
| Q2 25 | $30.4M | $27.7M | ||
| Q1 25 | $188.3M | $-7.9M | ||
| Q4 24 | $-71.7M | $19.2M | ||
| Q3 24 | $143.1M | $24.3M | ||
| Q2 24 | $113.2M | $11.8M | ||
| Q1 24 | $203.0M | $-52.0M |
| Q4 25 | $104.1M | $14.5M | ||
| Q3 25 | $300.3M | $20.1M | ||
| Q2 25 | $27.7M | $17.3M | ||
| Q1 25 | $184.7M | $-17.3M | ||
| Q4 24 | $-73.8M | $12.4M | ||
| Q3 24 | $138.8M | $15.5M | ||
| Q2 24 | $111.0M | $3.4M | ||
| Q1 24 | $201.3M | $-61.8M |
| Q4 25 | 60.1% | 6.9% | ||
| Q3 25 | 160.9% | 10.4% | ||
| Q2 25 | 14.1% | 9.3% | ||
| Q1 25 | 67.2% | -10.9% | ||
| Q4 24 | -40.4% | 7.5% | ||
| Q3 24 | 77.3% | 10.5% | ||
| Q2 24 | 58.8% | 2.3% | ||
| Q1 24 | 78.1% | -46.8% |
| Q4 25 | 2.4% | 5.6% | ||
| Q3 25 | 1.8% | 7.7% | ||
| Q2 25 | 1.4% | 5.6% | ||
| Q1 25 | 1.3% | 5.9% | ||
| Q4 24 | 1.1% | 4.2% | ||
| Q3 24 | 2.4% | 6.0% | ||
| Q2 24 | 1.2% | 5.7% | ||
| Q1 24 | 0.7% | 7.4% |
| Q4 25 | 3.08× | 4.70× | ||
| Q3 25 | 7.83× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | -2.39× | — | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.90× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
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% |
