vs
Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Paylocity Holding Corp is the larger business by last-quarter revenue ($387.0M vs $208.9M, roughly 1.9× iRhythm Holdings, Inc.). Paylocity Holding Corp runs the higher net margin — 13.0% vs 2.7%, a 10.3% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 11.3%). Paylocity Holding Corp produced more free cash flow last quarter ($113.6M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 2.7%).
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.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
IRTC vs PCTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $387.0M |
| Net Profit | $5.6M | $50.2M |
| Gross Margin | 70.9% | 72.9% |
| Operating Margin | 1.1% | 18.2% |
| Net Margin | 2.7% | 13.0% |
| Revenue YoY | 27.1% | 11.3% |
| Net Profit YoY | 518.5% | 34.0% |
| EPS (diluted) | $0.18 | $0.92 |
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 | $387.0M | ||
| Q3 25 | $192.9M | $378.9M | ||
| Q2 25 | $186.7M | $369.9M | ||
| Q1 25 | $158.7M | $421.1M | ||
| Q4 24 | $164.3M | $347.7M | ||
| Q3 24 | $147.5M | $333.1M | ||
| Q2 24 | $148.0M | $324.7M | ||
| Q1 24 | $131.9M | $366.8M |
| Q4 25 | $5.6M | $50.2M | ||
| Q3 25 | $-5.2M | $48.0M | ||
| Q2 25 | $-14.2M | $48.6M | ||
| Q1 25 | $-30.7M | $91.5M | ||
| Q4 24 | $-1.3M | $37.5M | ||
| Q3 24 | $-46.2M | $49.6M | ||
| Q2 24 | $-20.1M | $48.8M | ||
| Q1 24 | $-45.7M | $85.3M |
| Q4 25 | 70.9% | 72.9% | ||
| Q3 25 | 71.1% | 73.9% | ||
| Q2 25 | 71.2% | 73.5% | ||
| Q1 25 | 68.8% | 77.1% | ||
| Q4 24 | 70.0% | 72.6% | ||
| Q3 24 | 68.8% | 74.4% | ||
| Q2 24 | 69.9% | 74.0% | ||
| Q1 24 | 66.3% | 77.8% |
| Q4 25 | 1.1% | 18.2% | ||
| Q3 25 | -4.4% | 19.6% | ||
| Q2 25 | -10.0% | 17.9% | ||
| Q1 25 | -20.5% | 30.2% | ||
| Q4 24 | -2.5% | 13.4% | ||
| Q3 24 | -34.1% | 19.3% | ||
| Q2 24 | -15.5% | 19.4% | ||
| Q1 24 | -28.9% | 29.0% |
| Q4 25 | 2.7% | 13.0% | ||
| Q3 25 | -2.7% | 12.7% | ||
| Q2 25 | -7.6% | 13.1% | ||
| Q1 25 | -19.3% | 21.7% | ||
| Q4 24 | -0.8% | 10.8% | ||
| Q3 24 | -31.3% | 14.9% | ||
| Q2 24 | -13.6% | 15.0% | ||
| Q1 24 | -34.6% | 23.3% |
| Q4 25 | $0.18 | $0.92 | ||
| Q3 25 | $-0.16 | $0.86 | ||
| Q2 25 | $-0.44 | $0.87 | ||
| Q1 25 | $-0.97 | $1.61 | ||
| Q4 24 | $-0.03 | $0.66 | ||
| Q3 24 | $-1.48 | $0.88 | ||
| Q2 24 | $-0.65 | $0.85 | ||
| Q1 24 | $-1.47 | $1.50 |
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 | $162.5M |
| Total DebtLower is stronger | — | $81.3M |
| Stockholders' EquityBook value | $152.7M | $1.1B |
| Total Assets | $1.0B | $7.0B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $583.8M | $162.5M | ||
| Q3 25 | $565.2M | $165.2M | ||
| Q2 25 | $545.5M | $398.1M | ||
| Q1 25 | $520.6M | $477.8M | ||
| Q4 24 | $535.6M | $482.4M | ||
| Q3 24 | $522.0M | $778.5M | ||
| Q2 24 | $561.5M | $401.8M | ||
| Q1 24 | $569.1M | $492.7M |
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $81.3M | ||
| Q2 25 | — | $162.5M | ||
| Q1 25 | — | $243.8M | ||
| Q4 24 | — | $325.0M | ||
| Q3 24 | — | $325.0M | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | — |
| Q4 25 | $152.7M | $1.1B | ||
| Q3 25 | $121.9M | $1.1B | ||
| Q2 25 | $103.7M | $1.2B | ||
| Q1 25 | $86.7M | $1.2B | ||
| Q4 24 | $90.9M | $1.2B | ||
| Q3 24 | $71.8M | $1.1B | ||
| Q2 24 | $99.2M | $1.0B | ||
| Q1 24 | $90.3M | $1.1B |
| Q4 25 | $1.0B | $7.0B | ||
| Q3 25 | $995.2M | $4.2B | ||
| Q2 25 | $964.0M | $4.4B | ||
| Q1 25 | $926.1M | $5.2B | ||
| Q4 24 | $931.4M | $5.3B | ||
| Q3 24 | $909.7M | $4.0B | ||
| Q2 24 | $919.2M | $4.2B | ||
| Q1 24 | $909.8M | $5.0B |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.00× | ||
| 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 | $117.0M |
| Free Cash FlowOCF − Capex | $14.5M | $113.6M |
| FCF MarginFCF / Revenue | 6.9% | 29.4% |
| Capex IntensityCapex / Revenue | 5.6% | 0.9% |
| Cash ConversionOCF / Net Profit | 4.70× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $117.0M | ||
| Q3 25 | $34.9M | $86.5M | ||
| Q2 25 | $27.7M | $86.6M | ||
| Q1 25 | $-7.9M | $186.0M | ||
| Q4 24 | $19.2M | $54.2M | ||
| Q3 24 | $24.3M | $91.5M | ||
| Q2 24 | $11.8M | $79.9M | ||
| Q1 24 | $-52.0M | $167.5M |
| Q4 25 | $14.5M | $113.6M | ||
| Q3 25 | $20.1M | $82.7M | ||
| Q2 25 | $17.3M | $81.1M | ||
| Q1 25 | $-17.3M | $183.7M | ||
| Q4 24 | $12.4M | $51.2M | ||
| Q3 24 | $15.5M | $89.1M | ||
| Q2 24 | $3.4M | $73.6M | ||
| Q1 24 | $-61.8M | $162.0M |
| Q4 25 | 6.9% | 29.4% | ||
| Q3 25 | 10.4% | 21.8% | ||
| Q2 25 | 9.3% | 21.9% | ||
| Q1 25 | -10.9% | 43.6% | ||
| Q4 24 | 7.5% | 14.7% | ||
| Q3 24 | 10.5% | 26.8% | ||
| Q2 24 | 2.3% | 22.7% | ||
| Q1 24 | -46.8% | 44.2% |
| Q4 25 | 5.6% | 0.9% | ||
| Q3 25 | 7.7% | 1.0% | ||
| Q2 25 | 5.6% | 1.5% | ||
| Q1 25 | 5.9% | 0.5% | ||
| Q4 24 | 4.2% | 0.9% | ||
| Q3 24 | 6.0% | 0.7% | ||
| Q2 24 | 5.7% | 1.9% | ||
| Q1 24 | 7.4% | 1.5% |
| Q4 25 | 4.70× | 2.33× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 1.78× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 1.84× | ||
| Q2 24 | — | 1.64× | ||
| Q1 24 | — | 1.96× |
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% |
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
