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Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $208.9M, roughly 1.0× iRhythm Holdings, Inc.). Perella Weinberg Partners runs the higher net margin — 6.3% vs 2.7%, a 3.6% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs -2.9%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $14.5M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
IRTC vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $219.2M |
| Net Profit | $5.6M | $13.8M |
| Gross Margin | 70.9% | — |
| Operating Margin | 1.1% | 8.5% |
| Net Margin | 2.7% | 6.3% |
| Revenue YoY | 27.1% | -2.9% |
| Net Profit YoY | 518.5% | — |
| EPS (diluted) | $0.18 | $0.11 |
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 | $219.2M | ||
| Q3 25 | $192.9M | $164.6M | ||
| Q2 25 | $186.7M | $155.3M | ||
| Q1 25 | $158.7M | $211.8M | ||
| Q4 24 | $164.3M | $225.7M | ||
| Q3 24 | $147.5M | $278.2M | ||
| Q2 24 | $148.0M | $272.0M | ||
| Q1 24 | $131.9M | $102.1M |
| Q4 25 | $5.6M | $13.8M | ||
| Q3 25 | $-5.2M | $6.0M | ||
| Q2 25 | $-14.2M | $2.7M | ||
| Q1 25 | $-30.7M | $17.3M | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-46.2M | $16.4M | ||
| Q2 24 | $-20.1M | $-66.0M | ||
| Q1 24 | $-45.7M | $-35.8M |
| 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% | 8.5% | ||
| Q3 25 | -4.4% | 5.4% | ||
| Q2 25 | -10.0% | 5.8% | ||
| Q1 25 | -20.5% | 5.5% | ||
| Q4 24 | -2.5% | — | ||
| Q3 24 | -34.1% | 12.9% | ||
| Q2 24 | -15.5% | -30.2% | ||
| Q1 24 | -28.9% | -52.4% |
| Q4 25 | 2.7% | 6.3% | ||
| Q3 25 | -2.7% | 3.6% | ||
| Q2 25 | -7.6% | 1.8% | ||
| Q1 25 | -19.3% | 8.2% | ||
| Q4 24 | -0.8% | — | ||
| Q3 24 | -31.3% | 5.9% | ||
| Q2 24 | -13.6% | -24.3% | ||
| Q1 24 | -34.6% | -35.1% |
| Q4 25 | $0.18 | $0.11 | ||
| Q3 25 | $-0.16 | $0.08 | ||
| Q2 25 | $-0.44 | $0.04 | ||
| Q1 25 | $-0.97 | $0.24 | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $-1.48 | $0.24 | ||
| Q2 24 | $-0.65 | $-1.21 | ||
| Q1 24 | $-1.47 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $152.7M | $-127.4M |
| Total Assets | $1.0B | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $583.8M | $255.9M | ||
| Q3 25 | $565.2M | $185.5M | ||
| Q2 25 | $545.5M | $145.0M | ||
| Q1 25 | $520.6M | $111.2M | ||
| Q4 24 | $535.6M | $407.4M | ||
| Q3 24 | $522.0M | $335.1M | ||
| Q2 24 | $561.5M | $185.3M | ||
| Q1 24 | $569.1M | $156.7M |
| Q4 25 | $152.7M | $-127.4M | ||
| Q3 25 | $121.9M | $-302.4M | ||
| Q2 25 | $103.7M | $-318.4M | ||
| Q1 25 | $86.7M | $-323.1M | ||
| Q4 24 | $90.9M | $-421.4M | ||
| Q3 24 | $71.8M | $-360.8M | ||
| Q2 24 | $99.2M | $-283.0M | ||
| Q1 24 | $90.3M | $161.9M |
| Q4 25 | $1.0B | $797.6M | ||
| Q3 25 | $995.2M | $650.2M | ||
| Q2 25 | $964.0M | $606.7M | ||
| Q1 25 | $926.1M | $570.5M | ||
| Q4 24 | $931.4M | $876.8M | ||
| Q3 24 | $909.7M | $810.9M | ||
| Q2 24 | $919.2M | $645.5M | ||
| Q1 24 | $909.8M | $583.6M |
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 | $34.8M |
| Free Cash FlowOCF − Capex | $14.5M | $30.5M |
| FCF MarginFCF / Revenue | 6.9% | 13.9% |
| Capex IntensityCapex / Revenue | 5.6% | 2.0% |
| Cash ConversionOCF / Net Profit | 4.70× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $34.8M | ||
| Q3 25 | $34.9M | $59.2M | ||
| Q2 25 | $27.7M | $56.1M | ||
| Q1 25 | $-7.9M | $-176.5M | ||
| Q4 24 | $19.2M | $223.4M | ||
| Q3 24 | $24.3M | $200.3M | ||
| Q2 24 | $11.8M | $90.0M | ||
| Q1 24 | $-52.0M | $-206.3M |
| Q4 25 | $14.5M | $30.5M | ||
| Q3 25 | $20.1M | $57.6M | ||
| Q2 25 | $17.3M | $55.3M | ||
| Q1 25 | $-17.3M | $-177.6M | ||
| Q4 24 | $12.4M | $207.0M | ||
| Q3 24 | $15.5M | $199.3M | ||
| Q2 24 | $3.4M | $83.7M | ||
| Q1 24 | $-61.8M | $-214.8M |
| Q4 25 | 6.9% | 13.9% | ||
| Q3 25 | 10.4% | 35.0% | ||
| Q2 25 | 9.3% | 35.6% | ||
| Q1 25 | -10.9% | -83.8% | ||
| Q4 24 | 7.5% | 91.7% | ||
| Q3 24 | 10.5% | 71.6% | ||
| Q2 24 | 2.3% | 30.8% | ||
| Q1 24 | -46.8% | -210.3% |
| Q4 25 | 5.6% | 2.0% | ||
| Q3 25 | 7.7% | 0.9% | ||
| Q2 25 | 5.6% | 0.5% | ||
| Q1 25 | 5.9% | 0.5% | ||
| Q4 24 | 4.2% | 7.3% | ||
| Q3 24 | 6.0% | 0.4% | ||
| Q2 24 | 5.7% | 2.3% | ||
| Q1 24 | 7.4% | 8.3% |
| Q4 25 | 4.70× | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | — | 20.50× | ||
| Q1 25 | — | -10.18× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
PWP
Segment breakdown not available.
