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Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $208.9M, roughly 1.2× iRhythm Holdings, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 27.1%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $14.5M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% 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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
IRTC vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $253.4M |
| Net Profit | $5.6M | — |
| Gross Margin | 70.9% | — |
| Operating Margin | 1.1% | 28.7% |
| Net Margin | 2.7% | — |
| Revenue YoY | 27.1% | 62.7% |
| Net Profit YoY | 518.5% | — |
| EPS (diluted) | $0.18 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $192.9M | $244.7M | ||
| Q2 25 | $186.7M | $203.3M | ||
| Q1 25 | $158.7M | $174.6M | ||
| Q4 24 | $164.3M | $155.8M | ||
| Q3 24 | $147.5M | $148.5M | ||
| Q2 24 | $148.0M | $131.1M | ||
| Q1 24 | $131.9M | $118.5M |
| Q4 25 | $5.6M | — | ||
| Q3 25 | $-5.2M | $51.5M | ||
| Q2 25 | $-14.2M | $46.5M | ||
| Q1 25 | $-30.7M | $42.9M | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-46.2M | $30.5M | ||
| Q2 24 | $-20.1M | $25.7M | ||
| Q1 24 | $-45.7M | $26.4M |
| 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% | 28.7% | ||
| Q3 25 | -4.4% | 27.4% | ||
| Q2 25 | -10.0% | 29.5% | ||
| Q1 25 | -20.5% | 30.8% | ||
| Q4 24 | -2.5% | 28.9% | ||
| Q3 24 | -34.1% | 25.9% | ||
| Q2 24 | -15.5% | 25.5% | ||
| Q1 24 | -28.9% | 29.0% |
| Q4 25 | 2.7% | — | ||
| Q3 25 | -2.7% | 21.0% | ||
| Q2 25 | -7.6% | 22.9% | ||
| Q1 25 | -19.3% | 24.6% | ||
| Q4 24 | -0.8% | — | ||
| Q3 24 | -31.3% | 20.5% | ||
| Q2 24 | -13.6% | 19.6% | ||
| Q1 24 | -34.6% | 22.3% |
| Q4 25 | $0.18 | $2.05 | ||
| Q3 25 | $-0.16 | $1.87 | ||
| Q2 25 | $-0.44 | $1.68 | ||
| Q1 25 | $-0.97 | $1.57 | ||
| Q4 24 | $-0.03 | $1.29 | ||
| Q3 24 | $-1.48 | $1.15 | ||
| Q2 24 | $-0.65 | $1.00 | ||
| Q1 24 | $-1.47 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $152.7M | $942.7M |
| Total Assets | $1.0B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $583.8M | $106.9M | ||
| Q3 25 | $565.2M | $111.7M | ||
| Q2 25 | $545.5M | $81.3M | ||
| Q1 25 | $520.6M | $119.3M | ||
| Q4 24 | $535.6M | $80.4M | ||
| Q3 24 | $522.0M | $86.5M | ||
| Q2 24 | $561.5M | $47.8M | ||
| Q1 24 | $569.1M | $61.4M |
| Q4 25 | $152.7M | $942.7M | ||
| Q3 25 | $121.9M | $878.1M | ||
| Q2 25 | $103.7M | $847.2M | ||
| Q1 25 | $86.7M | $790.4M | ||
| Q4 24 | $90.9M | $729.0M | ||
| Q3 24 | $71.8M | $703.3M | ||
| Q2 24 | $99.2M | $532.6M | ||
| Q1 24 | $90.3M | $501.7M |
| Q4 25 | $1.0B | $3.1B | ||
| Q3 25 | $995.2M | $2.9B | ||
| Q2 25 | $964.0M | $2.8B | ||
| Q1 25 | $926.1M | $2.4B | ||
| Q4 24 | $931.4M | $2.3B | ||
| Q3 24 | $909.7M | $2.3B | ||
| Q2 24 | $919.2M | $2.0B | ||
| Q1 24 | $909.8M | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $14.5M | $409.0M |
| FCF MarginFCF / Revenue | 6.9% | 161.4% |
| Capex IntensityCapex / Revenue | 5.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 4.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $409.1M | ||
| Q3 25 | $34.9M | $83.6M | ||
| Q2 25 | $27.7M | $120.9M | ||
| Q1 25 | $-7.9M | $87.2M | ||
| Q4 24 | $19.2M | $261.2M | ||
| Q3 24 | $24.3M | $100.3M | ||
| Q2 24 | $11.8M | $55.1M | ||
| Q1 24 | $-52.0M | $33.1M |
| Q4 25 | $14.5M | $409.0M | ||
| Q3 25 | $20.1M | $83.6M | ||
| Q2 25 | $17.3M | $120.8M | ||
| Q1 25 | $-17.3M | $87.1M | ||
| Q4 24 | $12.4M | $260.9M | ||
| Q3 24 | $15.5M | $100.1M | ||
| Q2 24 | $3.4M | — | ||
| Q1 24 | $-61.8M | — |
| Q4 25 | 6.9% | 161.4% | ||
| Q3 25 | 10.4% | 34.2% | ||
| Q2 25 | 9.3% | 59.4% | ||
| Q1 25 | -10.9% | 49.9% | ||
| Q4 24 | 7.5% | 167.5% | ||
| Q3 24 | 10.5% | 67.4% | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | -46.8% | — |
| Q4 25 | 5.6% | 0.1% | ||
| Q3 25 | 7.7% | 0.0% | ||
| Q2 25 | 5.6% | 0.0% | ||
| Q1 25 | 5.9% | 0.0% | ||
| Q4 24 | 4.2% | 0.2% | ||
| Q3 24 | 6.0% | 0.1% | ||
| Q2 24 | 5.7% | 0.0% | ||
| Q1 24 | 7.4% | 0.0% |
| Q4 25 | 4.70× | — | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 2.14× | ||
| Q1 24 | — | 1.26× |
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% |
PLMR
Segment breakdown not available.
