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Side-by-side financial comparison of INDEPENDENT BANK CORP (IBCP) and RxSight, Inc. (RXST). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $32.6M, roughly 1.8× RxSight, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs -28.1%, a 56.7% gap on every dollar of revenue. Over the past eight quarters, RxSight, Inc.'s revenue compounded faster (5.1% CAGR vs 2.1%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
IBCP vs RXST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.9M | $32.6M |
| Net Profit | $16.9M | $-9.2M |
| Gross Margin | — | 77.5% |
| Operating Margin | — | -34.8% |
| Net Margin | 28.6% | -28.1% |
| Revenue YoY | — | -18.9% |
| Net Profit YoY | 8.2% | -54.1% |
| EPS (diluted) | $0.81 | $-0.22 |
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 | $58.9M | — | ||
| Q4 25 | $58.3M | $32.6M | ||
| Q3 25 | $57.3M | $30.3M | ||
| Q2 25 | $55.9M | $33.6M | ||
| Q1 25 | $54.1M | $37.9M | ||
| Q4 24 | $62.0M | $40.2M | ||
| Q3 24 | $51.4M | $35.3M | ||
| Q2 24 | $56.5M | $34.9M |
| Q1 26 | $16.9M | — | ||
| Q4 25 | $18.6M | $-9.2M | ||
| Q3 25 | $17.5M | $-9.8M | ||
| Q2 25 | $16.9M | $-11.8M | ||
| Q1 25 | $15.6M | $-8.2M | ||
| Q4 24 | $18.5M | $-5.9M | ||
| Q3 24 | $13.8M | $-6.3M | ||
| Q2 24 | $18.5M | $-6.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 77.5% | ||
| Q3 25 | — | 79.9% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 71.6% | ||
| Q3 24 | — | 71.4% | ||
| Q2 24 | — | 69.5% |
| Q1 26 | — | — | ||
| Q4 25 | 34.8% | -34.8% | ||
| Q3 25 | 37.0% | -40.1% | ||
| Q2 25 | 37.0% | -41.6% | ||
| Q1 25 | 35.3% | -28.2% | ||
| Q4 24 | 36.7% | -21.5% | ||
| Q3 24 | 33.7% | -26.1% | ||
| Q2 24 | 41.0% | -23.9% |
| Q1 26 | 28.6% | — | ||
| Q4 25 | 31.8% | -28.1% | ||
| Q3 25 | 30.5% | -32.4% | ||
| Q2 25 | 30.2% | -35.0% | ||
| Q1 25 | 28.8% | -21.6% | ||
| Q4 24 | 29.8% | -14.8% | ||
| Q3 24 | 26.9% | -17.9% | ||
| Q2 24 | 32.8% | -17.4% |
| Q1 26 | $0.81 | — | ||
| Q4 25 | $0.88 | $-0.22 | ||
| Q3 25 | $0.84 | $-0.24 | ||
| Q2 25 | $0.81 | $-0.29 | ||
| Q1 25 | $0.74 | $-0.20 | ||
| Q4 24 | $0.87 | $-0.14 | ||
| Q3 24 | $0.65 | $-0.16 | ||
| Q2 24 | $0.88 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.9M | $228.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $510.6M | $275.7M |
| Total Assets | $5.6B | $311.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.9M | — | ||
| Q4 25 | $138.4M | $228.1M | ||
| Q3 25 | $208.7M | $227.5M | ||
| Q2 25 | $146.2M | $227.5M | ||
| Q1 25 | $128.1M | $229.3M | ||
| Q4 24 | $119.9M | $237.2M | ||
| Q3 24 | $121.6M | $237.1M | ||
| Q2 24 | $214.3M | $233.3M |
| Q1 26 | $510.6M | — | ||
| Q4 25 | $503.0M | $275.7M | ||
| Q3 25 | $490.7M | $276.0M | ||
| Q2 25 | $469.3M | $278.0M | ||
| Q1 25 | $467.3M | $279.3M | ||
| Q4 24 | $454.7M | $281.2M | ||
| Q3 24 | $452.4M | $277.3M | ||
| Q2 24 | $430.5M | $275.2M |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.5B | $311.8M | ||
| Q3 25 | $5.5B | $308.5M | ||
| Q2 25 | $5.4B | $309.0M | ||
| Q1 25 | $5.3B | $313.0M | ||
| Q4 24 | $5.3B | $318.6M | ||
| Q3 24 | $5.3B | $310.5M | ||
| Q2 24 | $5.3B | $305.5M |
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 | — | $-1.1M |
| Free Cash FlowOCF − Capex | — | $-2.3M |
| FCF MarginFCF / Revenue | — | -6.9% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.7M | $-1.1M | ||
| Q3 25 | $18.2M | $-1.2M | ||
| Q2 25 | $19.0M | $-4.4M | ||
| Q1 25 | $31.7M | $-8.8M | ||
| Q4 24 | $63.2M | $-4.3M | ||
| Q3 24 | $17.2M | $650.0K | ||
| Q2 24 | $8.7M | $-4.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.2M | $-2.3M | ||
| Q3 25 | $16.5M | $-1.8M | ||
| Q2 25 | $16.7M | $-5.9M | ||
| Q1 25 | $30.6M | $-9.4M | ||
| Q4 24 | $55.2M | $-5.1M | ||
| Q3 24 | $15.7M | $-453.0K | ||
| Q2 24 | $7.0M | $-5.5M |
| Q1 26 | — | — | ||
| Q4 25 | 120.3% | -6.9% | ||
| Q3 25 | 28.9% | -5.8% | ||
| Q2 25 | 29.8% | -17.6% | ||
| Q1 25 | 56.5% | -24.8% | ||
| Q4 24 | 89.1% | -12.7% | ||
| Q3 24 | 30.6% | -1.3% | ||
| Q2 24 | 12.3% | -15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | 3.5% | ||
| Q3 25 | 2.9% | 1.9% | ||
| Q2 25 | 4.1% | 4.6% | ||
| Q1 25 | 2.1% | 1.5% | ||
| Q4 24 | 12.8% | 2.1% | ||
| Q3 24 | 2.9% | 3.1% | ||
| Q2 24 | 3.1% | 4.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.13× | — | ||
| Q3 25 | 1.04× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 0.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
