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Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
iRhythm Holdings, Inc. is the larger business by last-quarter revenue ($208.9M vs $181.5M, roughly 1.2× Mistras Group, Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs 2.1%, a 0.6% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs -0.8%).
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.
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
IRTC vs MG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $181.5M |
| Net Profit | $5.6M | $3.8M |
| Gross Margin | 70.9% | 28.4% |
| Operating Margin | 1.1% | 7.0% |
| Net Margin | 2.7% | 2.1% |
| Revenue YoY | 27.1% | 5.1% |
| Net Profit YoY | 518.5% | -27.4% |
| EPS (diluted) | $0.18 | $0.12 |
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 | $181.5M | ||
| Q3 25 | $192.9M | $195.5M | ||
| Q2 25 | $186.7M | $185.4M | ||
| Q1 25 | $158.7M | $161.6M | ||
| Q4 24 | $164.3M | $172.7M | ||
| Q3 24 | $147.5M | $182.7M | ||
| Q2 24 | $148.0M | $189.8M | ||
| Q1 24 | $131.9M | $184.4M |
| Q4 25 | $5.6M | $3.8M | ||
| Q3 25 | $-5.2M | $13.1M | ||
| Q2 25 | $-14.2M | $3.0M | ||
| Q1 25 | $-30.7M | $-3.2M | ||
| Q4 24 | $-1.3M | $5.2M | ||
| Q3 24 | $-46.2M | $6.4M | ||
| Q2 24 | $-20.1M | $6.4M | ||
| Q1 24 | $-45.7M | $995.0K |
| Q4 25 | 70.9% | 28.4% | ||
| Q3 25 | 71.1% | 29.8% | ||
| Q2 25 | 71.2% | 29.1% | ||
| Q1 25 | 68.8% | 25.3% | ||
| Q4 24 | 70.0% | 26.5% | ||
| Q3 24 | 68.8% | 26.8% | ||
| Q2 24 | 69.9% | 27.1% | ||
| Q1 24 | 66.3% | 25.0% |
| Q4 25 | 1.1% | 7.0% | ||
| Q3 25 | -4.4% | 10.4% | ||
| Q2 25 | -10.0% | 4.5% | ||
| Q1 25 | -20.5% | -0.6% | ||
| Q4 24 | -2.5% | 6.1% | ||
| Q3 24 | -34.1% | 6.5% | ||
| Q2 24 | -15.5% | 6.3% | ||
| Q1 24 | -28.9% | 3.0% |
| Q4 25 | 2.7% | 2.1% | ||
| Q3 25 | -2.7% | 6.7% | ||
| Q2 25 | -7.6% | 1.6% | ||
| Q1 25 | -19.3% | -2.0% | ||
| Q4 24 | -0.8% | 3.0% | ||
| Q3 24 | -31.3% | 3.5% | ||
| Q2 24 | -13.6% | 3.4% | ||
| Q1 24 | -34.6% | 0.5% |
| Q4 25 | $0.18 | $0.12 | ||
| Q3 25 | $-0.16 | $0.41 | ||
| Q2 25 | $-0.44 | $0.10 | ||
| Q1 25 | $-0.97 | $-0.10 | ||
| Q4 24 | $-0.03 | $0.17 | ||
| Q3 24 | $-1.48 | $0.20 | ||
| Q2 24 | $-0.65 | $0.20 | ||
| Q1 24 | $-1.47 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $583.8M | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $152.7M | $235.1M |
| Total Assets | $1.0B | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $583.8M | $28.0M | ||
| Q3 25 | $565.2M | $27.8M | ||
| Q2 25 | $545.5M | $20.0M | ||
| Q1 25 | $520.6M | $18.5M | ||
| Q4 24 | $535.6M | $18.3M | ||
| Q3 24 | $522.0M | $20.4M | ||
| Q2 24 | $561.5M | $17.2M | ||
| Q1 24 | $569.1M | $16.9M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | — | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M | ||
| Q1 24 | — | $198.4M |
| Q4 25 | $152.7M | $235.1M | ||
| Q3 25 | $121.9M | $227.4M | ||
| Q2 25 | $103.7M | $215.8M | ||
| Q1 25 | $86.7M | $198.7M | ||
| Q4 24 | $90.9M | $198.6M | ||
| Q3 24 | $71.8M | $205.2M | ||
| Q2 24 | $99.2M | $193.2M | ||
| Q1 24 | $90.3M | $187.1M |
| Q4 25 | $1.0B | $578.8M | ||
| Q3 25 | $995.2M | $596.3M | ||
| Q2 25 | $964.0M | $571.0M | ||
| Q1 25 | $926.1M | $526.8M | ||
| Q4 24 | $931.4M | $523.0M | ||
| Q3 24 | $909.7M | $551.7M | ||
| Q2 24 | $919.2M | $548.1M | ||
| Q1 24 | $909.8M | $542.1M |
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $32.1M |
| Free Cash FlowOCF − Capex | $14.5M | $26.0M |
| FCF MarginFCF / Revenue | 6.9% | 14.3% |
| Capex IntensityCapex / Revenue | 5.6% | 3.4% |
| Cash ConversionOCF / Net Profit | 4.70× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $32.1M | ||
| Q3 25 | $34.9M | $4.5M | ||
| Q2 25 | $27.7M | $-9.3M | ||
| Q1 25 | $-7.9M | $5.6M | ||
| Q4 24 | $19.2M | $25.7M | ||
| Q3 24 | $24.3M | $19.4M | ||
| Q2 24 | $11.8M | $4.5M | ||
| Q1 24 | $-52.0M | $604.0K |
| Q4 25 | $14.5M | $26.0M | ||
| Q3 25 | $20.1M | $-4.1M | ||
| Q2 25 | $17.3M | $-14.7M | ||
| Q1 25 | $-17.3M | $1.1M | ||
| Q4 24 | $12.4M | $22.1M | ||
| Q3 24 | $15.5M | $14.6M | ||
| Q2 24 | $3.4M | $-284.0K | ||
| Q1 24 | $-61.8M | $-4.2M |
| Q4 25 | 6.9% | 14.3% | ||
| Q3 25 | 10.4% | -2.1% | ||
| Q2 25 | 9.3% | -7.9% | ||
| Q1 25 | -10.9% | 0.7% | ||
| Q4 24 | 7.5% | 12.8% | ||
| Q3 24 | 10.5% | 8.0% | ||
| Q2 24 | 2.3% | -0.1% | ||
| Q1 24 | -46.8% | -2.3% |
| Q4 25 | 5.6% | 3.4% | ||
| Q3 25 | 7.7% | 4.4% | ||
| Q2 25 | 5.6% | 2.9% | ||
| Q1 25 | 5.9% | 2.8% | ||
| Q4 24 | 4.2% | 2.1% | ||
| Q3 24 | 6.0% | 2.6% | ||
| Q2 24 | 5.7% | 2.5% | ||
| Q1 24 | 7.4% | 2.6% |
| Q4 25 | 4.70× | 8.55× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | -3.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.96× | ||
| Q3 24 | — | 3.02× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
MG
Segment breakdown not available.
