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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) 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 $208.7M, roughly 1.0× FORUM ENERGY TECHNOLOGIES, INC.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs 2.2%, a 0.5% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 3.2%). iRhythm Holdings, Inc. produced more free cash flow last quarter ($14.5M vs $1.4M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 0.8%).
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries 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.
FET vs IRTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.7M | $208.9M |
| Net Profit | $4.5M | $5.6M |
| Gross Margin | 29.2% | 70.9% |
| Operating Margin | 5.3% | 1.1% |
| Net Margin | 2.2% | 2.7% |
| Revenue YoY | 3.2% | 27.1% |
| Net Profit YoY | 300.4% | 518.5% |
| EPS (diluted) | $0.39 | $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 | $208.7M | — | ||
| Q4 25 | $202.2M | $208.9M | ||
| Q3 25 | $196.2M | $192.9M | ||
| Q2 25 | $199.8M | $186.7M | ||
| Q1 25 | $193.3M | $158.7M | ||
| Q4 24 | $201.0M | $164.3M | ||
| Q3 24 | $207.8M | $147.5M | ||
| Q2 24 | $205.2M | $148.0M |
| Q1 26 | $4.5M | — | ||
| Q4 25 | $2.1M | $5.6M | ||
| Q3 25 | $-20.6M | $-5.2M | ||
| Q2 25 | $7.7M | $-14.2M | ||
| Q1 25 | $1.1M | $-30.7M | ||
| Q4 24 | $-103.5M | $-1.3M | ||
| Q3 24 | $-14.8M | $-46.2M | ||
| Q2 24 | $-6.7M | $-20.1M |
| Q1 26 | 29.2% | — | ||
| Q4 25 | 30.2% | 70.9% | ||
| Q3 25 | 20.5% | 71.1% | ||
| Q2 25 | 29.7% | 71.2% | ||
| Q1 25 | 30.2% | 68.8% | ||
| Q4 24 | 31.1% | 70.0% | ||
| Q3 24 | 31.6% | 68.8% | ||
| Q2 24 | 30.7% | 69.9% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 6.3% | 1.1% | ||
| Q3 25 | -3.1% | -4.4% | ||
| Q2 25 | 7.4% | -10.0% | ||
| Q1 25 | 4.6% | -20.5% | ||
| Q4 24 | -53.1% | -2.5% | ||
| Q3 24 | 4.3% | -34.1% | ||
| Q2 24 | 3.9% | -15.5% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.0% | 2.7% | ||
| Q3 25 | -10.5% | -2.7% | ||
| Q2 25 | 3.9% | -7.6% | ||
| Q1 25 | 0.6% | -19.3% | ||
| Q4 24 | -51.5% | -0.8% | ||
| Q3 24 | -7.1% | -31.3% | ||
| Q2 24 | -3.3% | -13.6% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.25 | $0.18 | ||
| Q3 25 | $-1.76 | $-0.16 | ||
| Q2 25 | $0.61 | $-0.44 | ||
| Q1 25 | $0.09 | $-0.97 | ||
| Q4 24 | $-8.41 | $-0.03 | ||
| Q3 24 | $-1.20 | $-1.48 | ||
| Q2 24 | $-0.54 | $-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 | $37.5M | $583.8M |
| Total DebtLower is stronger | $153.7M | — |
| Stockholders' EquityBook value | $280.7M | $152.7M |
| Total Assets | $763.1M | $1.0B |
| Debt / EquityLower = less leverage | 0.55× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $37.5M | — | ||
| Q4 25 | $34.7M | $583.8M | ||
| Q3 25 | $31.7M | $565.2M | ||
| Q2 25 | $39.0M | $545.5M | ||
| Q1 25 | $31.1M | $520.6M | ||
| Q4 24 | $44.7M | $535.6M | ||
| Q3 24 | $33.3M | $522.0M | ||
| Q2 24 | $31.8M | $561.5M |
| Q1 26 | $153.7M | — | ||
| Q4 25 | $135.9M | — | ||
| Q3 25 | $140.0M | — | ||
| Q2 25 | $159.3M | — | ||
| Q1 25 | $171.4M | — | ||
| Q4 24 | $188.4M | — | ||
| Q3 24 | $231.5M | — | ||
| Q2 24 | $252.9M | — |
| Q1 26 | $280.7M | — | ||
| Q4 25 | $291.1M | $152.7M | ||
| Q3 25 | $297.3M | $121.9M | ||
| Q2 25 | $334.2M | $103.7M | ||
| Q1 25 | $320.0M | $86.7M | ||
| Q4 24 | $319.9M | $90.9M | ||
| Q3 24 | $443.5M | $71.8M | ||
| Q2 24 | $442.0M | $99.2M |
| Q1 26 | $763.1M | — | ||
| Q4 25 | $752.5M | $1.0B | ||
| Q3 25 | $770.1M | $995.2M | ||
| Q2 25 | $810.1M | $964.0M | ||
| Q1 25 | $790.1M | $926.1M | ||
| Q4 24 | $816.0M | $931.4M | ||
| Q3 24 | $973.7M | $909.7M | ||
| Q2 24 | $976.8M | $919.2M |
| Q1 26 | 0.55× | — | ||
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.54× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.57× | — |
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 | $1.6M | $26.2M |
| Free Cash FlowOCF − Capex | $1.4M | $14.5M |
| FCF MarginFCF / Revenue | 0.7% | 6.9% |
| Capex IntensityCapex / Revenue | 0.1% | 5.6% |
| Cash ConversionOCF / Net Profit | 0.36× | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $58.5M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6M | — | ||
| Q4 25 | $22.4M | $26.2M | ||
| Q3 25 | $22.9M | $34.9M | ||
| Q2 25 | $15.8M | $27.7M | ||
| Q1 25 | $9.3M | $-7.9M | ||
| Q4 24 | $38.5M | $19.2M | ||
| Q3 24 | $25.6M | $24.3M | ||
| Q2 24 | $23.1M | $11.8M |
| Q1 26 | $1.4M | — | ||
| Q4 25 | $20.9M | $14.5M | ||
| Q3 25 | $21.5M | $20.1M | ||
| Q2 25 | $14.8M | $17.3M | ||
| Q1 25 | $7.2M | $-17.3M | ||
| Q4 24 | $36.1M | $12.4M | ||
| Q3 24 | $24.3M | $15.5M | ||
| Q2 24 | $21.6M | $3.4M |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 10.3% | 6.9% | ||
| Q3 25 | 10.9% | 10.4% | ||
| Q2 25 | 7.4% | 9.3% | ||
| Q1 25 | 3.7% | -10.9% | ||
| Q4 24 | 18.0% | 7.5% | ||
| Q3 24 | 11.7% | 10.5% | ||
| Q2 24 | 10.5% | 2.3% |
| Q1 26 | 0.1% | — | ||
| Q4 25 | 0.8% | 5.6% | ||
| Q3 25 | 0.7% | 7.7% | ||
| Q2 25 | 0.5% | 5.6% | ||
| Q1 25 | 1.1% | 5.9% | ||
| Q4 24 | 1.2% | 4.2% | ||
| Q3 24 | 0.6% | 6.0% | ||
| Q2 24 | 0.7% | 5.7% |
| Q1 26 | 0.36× | — | ||
| Q4 25 | 10.83× | 4.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.05× | — | ||
| Q1 25 | 8.31× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FET
| Drilling and Completions | $126.7M | 61% |
| Downhole | $50.6M | 24% |
| Production Equipment | $18.8M | 9% |
| Valve Solutions | $12.8M | 6% |
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% |
