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Side-by-side financial comparison of ICHOR HOLDINGS, LTD. (ICHR) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
ICHOR HOLDINGS, LTD. is the larger business by last-quarter revenue ($256.1M vs $208.9M, roughly 1.2× iRhythm Holdings, Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs -1.0%, a 3.6% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 4.7%). iRhythm Holdings, Inc. produced more free cash flow last quarter ($14.5M vs $-10.0M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 12.3%).
Ichor Holdings Ltd. designs, manufactures and supplies critical fluid delivery systems, subsystems and related components for the global semiconductor manufacturing sector. Its products are integrated into front-end wafer processing equipment, supporting production of advanced logic, memory and specialty chips for leading semiconductor device and equipment makers across North America, East Asia and Europe.
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.
ICHR vs IRTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.1M | $208.9M |
| Net Profit | $-2.5M | $5.6M |
| Gross Margin | 12.6% | 70.9% |
| Operating Margin | 88.2% | 1.1% |
| Net Margin | -1.0% | 2.7% |
| Revenue YoY | 4.7% | 27.1% |
| Net Profit YoY | 45.8% | 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.
| Q1 26 | $256.1M | — | ||
| Q4 25 | $223.6M | $208.9M | ||
| Q3 25 | $239.3M | $192.9M | ||
| Q2 25 | $240.3M | $186.7M | ||
| Q1 25 | $244.5M | $158.7M | ||
| Q4 24 | $233.3M | $164.3M | ||
| Q3 24 | $211.1M | $147.5M | ||
| Q2 24 | $203.2M | $148.0M |
| Q1 26 | $-2.5M | — | ||
| Q4 25 | $-16.0M | $5.6M | ||
| Q3 25 | $-22.9M | $-5.2M | ||
| Q2 25 | $-9.4M | $-14.2M | ||
| Q1 25 | $-4.6M | $-30.7M | ||
| Q4 24 | $-3.9M | $-1.3M | ||
| Q3 24 | $-2.8M | $-46.2M | ||
| Q2 24 | $-5.1M | $-20.1M |
| Q1 26 | 12.6% | — | ||
| Q4 25 | 9.4% | 70.9% | ||
| Q3 25 | 4.6% | 71.1% | ||
| Q2 25 | 11.3% | 71.2% | ||
| Q1 25 | 11.7% | 68.8% | ||
| Q4 24 | 11.6% | 70.0% | ||
| Q3 24 | 13.2% | 68.8% | ||
| Q2 24 | 12.6% | 69.9% |
| Q1 26 | 88.2% | — | ||
| Q4 25 | -6.2% | 1.1% | ||
| Q3 25 | -8.1% | -4.4% | ||
| Q2 25 | -2.0% | -10.0% | ||
| Q1 25 | -0.5% | -20.5% | ||
| Q4 24 | -0.5% | -2.5% | ||
| Q3 24 | -0.2% | -34.1% | ||
| Q2 24 | -1.1% | -15.5% |
| Q1 26 | -1.0% | — | ||
| Q4 25 | -7.1% | 2.7% | ||
| Q3 25 | -9.6% | -2.7% | ||
| Q2 25 | -3.9% | -7.6% | ||
| Q1 25 | -1.9% | -19.3% | ||
| Q4 24 | -1.7% | -0.8% | ||
| Q3 24 | -1.3% | -31.3% | ||
| Q2 24 | -2.5% | -13.6% |
| Q1 26 | $-0.07 | — | ||
| Q4 25 | $-0.46 | $0.18 | ||
| Q3 25 | $-0.67 | $-0.16 | ||
| Q2 25 | $-0.28 | $-0.44 | ||
| Q1 25 | $-0.13 | $-0.97 | ||
| Q4 24 | $-0.11 | $-0.03 | ||
| Q3 24 | $-0.08 | $-1.48 | ||
| Q2 24 | $-0.15 | $-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 | $89.1M | $583.8M |
| Total DebtLower is stronger | $6.3M | — |
| Stockholders' EquityBook value | $668.0M | $152.7M |
| Total Assets | $972.5M | $1.0B |
| Debt / EquityLower = less leverage | 0.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $89.1M | — | ||
| Q4 25 | $98.3M | $583.8M | ||
| Q3 25 | $92.5M | $565.2M | ||
| Q2 25 | $92.2M | $545.5M | ||
| Q1 25 | $109.3M | $520.6M | ||
| Q4 24 | $108.7M | $535.6M | ||
| Q3 24 | $116.4M | $522.0M | ||
| Q2 24 | $114.3M | $561.5M |
| Q1 26 | $6.3M | — | ||
| Q4 25 | $123.5M | — | ||
| Q3 25 | $123.5M | — | ||
| Q2 25 | $125.0M | — | ||
| Q1 25 | $126.8M | — | ||
| Q4 24 | $128.5M | — | ||
| Q3 24 | $130.3M | — | ||
| Q2 24 | $130.2M | — |
| Q1 26 | $668.0M | — | ||
| Q4 25 | $663.9M | $152.7M | ||
| Q3 25 | $676.2M | $121.9M | ||
| Q2 25 | $694.1M | $103.7M | ||
| Q1 25 | $700.4M | $86.7M | ||
| Q4 24 | $698.3M | $90.9M | ||
| Q3 24 | $697.3M | $71.8M | ||
| Q2 24 | $694.9M | $99.2M |
| Q1 26 | $972.5M | — | ||
| Q4 25 | $942.9M | $1.0B | ||
| Q3 25 | $966.6M | $995.2M | ||
| Q2 25 | $985.1M | $964.0M | ||
| Q1 25 | $1.0B | $926.1M | ||
| Q4 24 | $995.6M | $931.4M | ||
| Q3 24 | $975.9M | $909.7M | ||
| Q2 24 | $947.7M | $919.2M |
| Q1 26 | 0.01× | — | ||
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.19× | — |
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 | — | $26.2M |
| Free Cash FlowOCF − Capex | $-10.0M | $14.5M |
| FCF MarginFCF / Revenue | -3.9% | 6.9% |
| Capex IntensityCapex / Revenue | 2.8% | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.8M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.2M | $26.2M | ||
| Q3 25 | $9.2M | $34.9M | ||
| Q2 25 | $-7.5M | $27.7M | ||
| Q1 25 | $19.0M | $-7.9M | ||
| Q4 24 | $-2.5M | $19.2M | ||
| Q3 24 | $8.1M | $24.3M | ||
| Q2 24 | $17.5M | $11.8M |
| Q1 26 | $-10.0M | — | ||
| Q4 25 | $5.9M | $14.5M | ||
| Q3 25 | $2.1M | $20.1M | ||
| Q2 25 | $-14.8M | $17.3M | ||
| Q1 25 | $496.0K | $-17.3M | ||
| Q4 24 | $-6.9M | $12.4M | ||
| Q3 24 | $2.2M | $15.5M | ||
| Q2 24 | $14.6M | $3.4M |
| Q1 26 | -3.9% | — | ||
| Q4 25 | 2.6% | 6.9% | ||
| Q3 25 | 0.9% | 10.4% | ||
| Q2 25 | -6.2% | 9.3% | ||
| Q1 25 | 0.2% | -10.9% | ||
| Q4 24 | -3.0% | 7.5% | ||
| Q3 24 | 1.0% | 10.5% | ||
| Q2 24 | 7.2% | 2.3% |
| Q1 26 | 2.8% | — | ||
| Q4 25 | 1.5% | 5.6% | ||
| Q3 25 | 3.0% | 7.7% | ||
| Q2 25 | 3.0% | 5.6% | ||
| Q1 25 | 7.6% | 5.9% | ||
| Q4 24 | 1.9% | 4.2% | ||
| Q3 24 | 2.8% | 6.0% | ||
| Q2 24 | 1.4% | 5.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICHR
Segment breakdown not available.
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% |
