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Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Paymentus Holdings, Inc. (PAY). Click either name above to swap in a different company.
Paymentus Holdings, Inc. is the larger business by last-quarter revenue ($330.5M vs $208.9M, roughly 1.6× iRhythm Holdings, Inc.). Paymentus Holdings, Inc. runs the higher net margin — 6.3% vs 2.7%, a 3.6% gap on every dollar of revenue. On growth, Paymentus Holdings, Inc. posted the faster year-over-year revenue change (28.1% vs 27.1%). Paymentus Holdings, Inc. produced more free cash flow last quarter ($45.0M vs $14.5M). Over the past eight quarters, Paymentus Holdings, Inc.'s revenue compounded faster (33.7% CAGR vs 25.8%).
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.
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
IRTC vs PAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $330.5M |
| Net Profit | $5.6M | $20.7M |
| Gross Margin | 70.9% | 25.4% |
| Operating Margin | 1.1% | 7.3% |
| Net Margin | 2.7% | 6.3% |
| Revenue YoY | 27.1% | 28.1% |
| Net Profit YoY | 518.5% | 57.2% |
| EPS (diluted) | $0.18 | $0.16 |
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 | $330.5M | ||
| Q3 25 | $192.9M | $310.7M | ||
| Q2 25 | $186.7M | $280.1M | ||
| Q1 25 | $158.7M | $275.2M | ||
| Q4 24 | $164.3M | $257.9M | ||
| Q3 24 | $147.5M | $231.6M | ||
| Q2 24 | $148.0M | $197.4M | ||
| Q1 24 | $131.9M | $184.9M |
| Q4 25 | $5.6M | $20.7M | ||
| Q3 25 | $-5.2M | $17.7M | ||
| Q2 25 | $-14.2M | $14.7M | ||
| Q1 25 | $-30.7M | $13.8M | ||
| Q4 24 | $-1.3M | $13.1M | ||
| Q3 24 | $-46.2M | $14.4M | ||
| Q2 24 | $-20.1M | $9.4M | ||
| Q1 24 | $-45.7M | $7.2M |
| Q4 25 | 70.9% | 25.4% | ||
| Q3 25 | 71.1% | 24.1% | ||
| Q2 25 | 71.2% | 25.5% | ||
| Q1 25 | 68.8% | 24.0% | ||
| Q4 24 | 70.0% | 25.6% | ||
| Q3 24 | 68.8% | 26.2% | ||
| Q2 24 | 69.9% | 29.8% | ||
| Q1 24 | 66.3% | 28.5% |
| Q4 25 | 1.1% | 7.3% | ||
| Q3 25 | -4.4% | 6.4% | ||
| Q2 25 | -10.0% | 5.7% | ||
| Q1 25 | -20.5% | 5.7% | ||
| Q4 24 | -2.5% | 5.5% | ||
| Q3 24 | -34.1% | 5.2% | ||
| Q2 24 | -15.5% | 5.2% | ||
| Q1 24 | -28.9% | 4.5% |
| Q4 25 | 2.7% | 6.3% | ||
| Q3 25 | -2.7% | 5.7% | ||
| Q2 25 | -7.6% | 5.3% | ||
| Q1 25 | -19.3% | 5.0% | ||
| Q4 24 | -0.8% | 5.1% | ||
| Q3 24 | -31.3% | 6.2% | ||
| Q2 24 | -13.6% | 4.7% | ||
| Q1 24 | -34.6% | 3.9% |
| Q4 25 | $0.18 | $0.16 | ||
| Q3 25 | $-0.16 | $0.14 | ||
| Q2 25 | $-0.44 | $0.11 | ||
| Q1 25 | $-0.97 | $0.11 | ||
| Q4 24 | $-0.03 | $0.11 | ||
| Q3 24 | $-1.48 | $0.11 | ||
| Q2 24 | $-0.65 | $0.07 | ||
| Q1 24 | $-1.47 | $0.06 |
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 | $320.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $152.7M | $560.4M |
| Total Assets | $1.0B | $667.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $583.8M | $320.9M | ||
| Q3 25 | $565.2M | $287.9M | ||
| Q2 25 | $545.5M | $266.4M | ||
| Q1 25 | $520.6M | $245.8M | ||
| Q4 24 | $535.6M | $205.9M | ||
| Q3 24 | $522.0M | $187.5M | ||
| Q2 24 | $561.5M | $188.8M | ||
| Q1 24 | $569.1M | $180.1M |
| Q4 25 | $152.7M | $560.4M | ||
| Q3 25 | $121.9M | $537.4M | ||
| Q2 25 | $103.7M | $516.7M | ||
| Q1 25 | $86.7M | $500.4M | ||
| Q4 24 | $90.9M | $485.6M | ||
| Q3 24 | $71.8M | $468.8M | ||
| Q2 24 | $99.2M | $451.6M | ||
| Q1 24 | $90.3M | $439.4M |
| Q4 25 | $1.0B | $667.9M | ||
| Q3 25 | $995.2M | $644.4M | ||
| Q2 25 | $964.0M | $609.5M | ||
| Q1 25 | $926.1M | $590.9M | ||
| Q4 24 | $931.4M | $576.2M | ||
| Q3 24 | $909.7M | $552.9M | ||
| Q2 24 | $919.2M | $527.7M | ||
| Q1 24 | $909.8M | $514.0M |
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 | $45.1M |
| Free Cash FlowOCF − Capex | $14.5M | $45.0M |
| FCF MarginFCF / Revenue | 6.9% | 13.6% |
| Capex IntensityCapex / Revenue | 5.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 4.70× | 2.18× |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | $161.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $45.1M | ||
| Q3 25 | $34.9M | $35.1M | ||
| Q2 25 | $27.7M | $31.5M | ||
| Q1 25 | $-7.9M | $50.4M | ||
| Q4 24 | $19.2M | $27.9M | ||
| Q3 24 | $24.3M | $6.7M | ||
| Q2 24 | $11.8M | $18.0M | ||
| Q1 24 | $-52.0M | $11.0M |
| Q4 25 | $14.5M | $45.0M | ||
| Q3 25 | $20.1M | $35.0M | ||
| Q2 25 | $17.3M | $31.4M | ||
| Q1 25 | $-17.3M | $50.4M | ||
| Q4 24 | $12.4M | $27.8M | ||
| Q3 24 | $15.5M | $6.7M | ||
| Q2 24 | $3.4M | $17.8M | ||
| Q1 24 | $-61.8M | $10.8M |
| Q4 25 | 6.9% | 13.6% | ||
| Q3 25 | 10.4% | 11.3% | ||
| Q2 25 | 9.3% | 11.2% | ||
| Q1 25 | -10.9% | 18.3% | ||
| Q4 24 | 7.5% | 10.8% | ||
| Q3 24 | 10.5% | 2.9% | ||
| Q2 24 | 2.3% | 9.0% | ||
| Q1 24 | -46.8% | 5.9% |
| Q4 25 | 5.6% | 0.0% | ||
| Q3 25 | 7.7% | 0.0% | ||
| Q2 25 | 5.6% | 0.0% | ||
| Q1 25 | 5.9% | 0.0% | ||
| Q4 24 | 4.2% | 0.0% | ||
| Q3 24 | 6.0% | 0.0% | ||
| Q2 24 | 5.7% | 0.1% | ||
| Q1 24 | 7.4% | 0.1% |
| Q4 25 | 4.70× | 2.18× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 3.65× | ||
| Q4 24 | — | 2.12× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 1.93× | ||
| Q1 24 | — | 1.52× |
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% |
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
