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Side-by-side financial comparison of IMMERSION CORP (IMMR) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
IMMERSION CORP is the larger business by last-quarter revenue ($372.9M vs $208.9M, roughly 1.8× iRhythm Holdings, Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs -4.6%, a 7.2% gap on every dollar of revenue. On growth, IMMERSION CORP posted the faster year-over-year revenue change (750.4% vs 27.1%). Over the past eight quarters, IMMERSION CORP's revenue compounded faster (537.9% CAGR vs 25.8%).
Immersion Corporation is an Aventura, Florida based developer and licensor of touch feedback technology, also known as haptic technology. Immersion Corporation has been accused of being a patent troll. Founded in 1993 by Louis Rosenberg, it is currently headed by lawyer Francis Jose, who serves as both chief executive officer and general counsel.
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.
IMMR vs IRTC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $372.9M | $208.9M |
| Net Profit | $-17.0M | $5.6M |
| Gross Margin | — | 70.9% |
| Operating Margin | -2.8% | 1.1% |
| Net Margin | -4.6% | 2.7% |
| Revenue YoY | 750.4% | 27.1% |
| Net Profit YoY | -191.3% | 518.5% |
| EPS (diluted) | $-0.57 | $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 | — | $208.9M | ||
| Q3 25 | — | $192.9M | ||
| Q2 25 | $372.9M | $186.7M | ||
| Q1 25 | $471.3M | $158.7M | ||
| Q4 24 | $616.2M | $164.3M | ||
| Q3 24 | — | $147.5M | ||
| Q2 24 | $95.5M | $148.0M | ||
| Q1 24 | $43.8M | $131.9M |
| Q4 25 | — | $5.6M | ||
| Q3 25 | — | $-5.2M | ||
| Q2 25 | $-17.0M | $-14.2M | ||
| Q1 25 | $24.1M | $-30.7M | ||
| Q4 24 | $30.8M | $-1.3M | ||
| Q3 24 | — | $-46.2M | ||
| Q2 24 | $26.4M | $-20.1M | ||
| Q1 24 | $18.7M | $-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 | — | 1.1% | ||
| Q3 25 | — | -4.4% | ||
| Q2 25 | -2.8% | -10.0% | ||
| Q1 25 | 7.5% | -20.5% | ||
| Q4 24 | 11.4% | -2.5% | ||
| Q3 24 | — | -34.1% | ||
| Q2 24 | 23.7% | -15.5% | ||
| Q1 24 | 37.9% | -28.9% |
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -2.7% | ||
| Q2 25 | -4.6% | -7.6% | ||
| Q1 25 | 5.1% | -19.3% | ||
| Q4 24 | 5.0% | -0.8% | ||
| Q3 24 | — | -31.3% | ||
| Q2 24 | 27.7% | -13.6% | ||
| Q1 24 | 42.5% | -34.6% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | — | $-0.16 | ||
| Q2 25 | $-0.57 | $-0.44 | ||
| Q1 25 | $0.73 | $-0.97 | ||
| Q4 24 | $0.93 | $-0.03 | ||
| Q3 24 | — | $-1.48 | ||
| Q2 24 | $0.81 | $-0.65 | ||
| Q1 24 | $0.59 | $-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 | $161.4M | $583.8M |
| Total DebtLower is stronger | $103.1M | — |
| Stockholders' EquityBook value | $298.1M | $152.7M |
| Total Assets | $1.1B | $1.0B |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $583.8M | ||
| Q3 25 | — | $565.2M | ||
| Q2 25 | $161.4M | $545.5M | ||
| Q1 25 | $153.9M | $520.6M | ||
| Q4 24 | $159.3M | $535.6M | ||
| Q3 24 | — | $522.0M | ||
| Q2 24 | $133.4M | $561.5M | ||
| Q1 24 | $179.1M | $569.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $103.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $152.7M | ||
| Q3 25 | — | $121.9M | ||
| Q2 25 | $298.1M | $103.7M | ||
| Q1 25 | $317.9M | $86.7M | ||
| Q4 24 | $305.5M | $90.9M | ||
| Q3 24 | — | $71.8M | ||
| Q2 24 | $273.4M | $99.2M | ||
| Q1 24 | $201.5M | $90.3M |
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $995.2M | ||
| Q2 25 | $1.1B | $964.0M | ||
| Q1 25 | $1.4B | $926.1M | ||
| Q4 24 | $1.4B | $931.4M | ||
| Q3 24 | — | $909.7M | ||
| Q2 24 | $1.2B | $919.2M | ||
| Q1 24 | $244.7M | $909.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | — | $14.5M |
| FCF MarginFCF / Revenue | — | 6.9% |
| Capex IntensityCapex / Revenue | — | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $26.2M | ||
| Q3 25 | — | $34.9M | ||
| Q2 25 | — | $27.7M | ||
| Q1 25 | $-43.7M | $-7.9M | ||
| Q4 24 | — | $19.2M | ||
| Q3 24 | — | $24.3M | ||
| Q2 24 | $-85.9M | $11.8M | ||
| Q1 24 | $29.9M | $-52.0M |
| Q4 25 | — | $14.5M | ||
| Q3 25 | — | $20.1M | ||
| Q2 25 | — | $17.3M | ||
| Q1 25 | $-46.2M | $-17.3M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $15.5M | ||
| Q2 24 | — | $3.4M | ||
| Q1 24 | — | $-61.8M |
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | -9.8% | -10.9% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -46.8% |
| Q4 25 | — | 5.6% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | 0.5% | 5.9% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 7.4% |
| Q4 25 | — | 4.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -1.82× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -3.25× | — | ||
| Q1 24 | 1.60× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
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% |
