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Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
iRhythm Holdings, Inc. is the larger business by last-quarter revenue ($208.9M vs $152.8M, roughly 1.4× Riot Platforms, Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs -452.0%, a 454.6% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 7.2%). iRhythm Holdings, Inc. produced more free cash flow last quarter ($14.5M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% 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.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
IRTC vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $152.8M |
| Net Profit | $5.6M | $-690.7M |
| Gross Margin | 70.9% | — |
| Operating Margin | 1.1% | -447.9% |
| Net Margin | 2.7% | -452.0% |
| Revenue YoY | 27.1% | 7.2% |
| Net Profit YoY | 518.5% | -606.3% |
| EPS (diluted) | $0.18 | $-1.89 |
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 | $152.8M | ||
| Q3 25 | $192.9M | $180.2M | ||
| Q2 25 | $186.7M | $153.0M | ||
| Q1 25 | $158.7M | $161.4M | ||
| Q4 24 | $164.3M | $142.6M | ||
| Q3 24 | $147.5M | $84.8M | ||
| Q2 24 | $148.0M | $70.0M | ||
| Q1 24 | $131.9M | $79.3M |
| Q4 25 | $5.6M | $-690.7M | ||
| Q3 25 | $-5.2M | $104.5M | ||
| Q2 25 | $-14.2M | $219.5M | ||
| Q1 25 | $-30.7M | $-296.4M | ||
| Q4 24 | $-1.3M | $136.4M | ||
| Q3 24 | $-46.2M | $-154.4M | ||
| Q2 24 | $-20.1M | $-84.4M | ||
| Q1 24 | $-45.7M | $211.8M |
| 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% | -447.9% | ||
| Q3 25 | -4.4% | 44.4% | ||
| Q2 25 | -10.0% | — | ||
| Q1 25 | -20.5% | -144.9% | ||
| Q4 24 | -2.5% | — | ||
| Q3 24 | -34.1% | -143.3% | ||
| Q2 24 | -15.5% | -167.2% | ||
| Q1 24 | -28.9% | — |
| Q4 25 | 2.7% | -452.0% | ||
| Q3 25 | -2.7% | 58.0% | ||
| Q2 25 | -7.6% | 143.4% | ||
| Q1 25 | -19.3% | -183.6% | ||
| Q4 24 | -0.8% | 95.7% | ||
| Q3 24 | -31.3% | -182.1% | ||
| Q2 24 | -13.6% | -120.6% | ||
| Q1 24 | -34.6% | 267.1% |
| Q4 25 | $0.18 | $-1.89 | ||
| Q3 25 | $-0.16 | $0.26 | ||
| Q2 25 | $-0.44 | $0.58 | ||
| Q1 25 | $-0.97 | $-0.90 | ||
| Q4 24 | $-0.03 | $0.39 | ||
| Q3 24 | $-1.48 | $-0.54 | ||
| Q2 24 | $-0.65 | $-0.32 | ||
| Q1 24 | $-1.47 | $0.51 |
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 | $233.5M |
| Total DebtLower is stronger | — | $840.8M |
| Stockholders' EquityBook value | $152.7M | $2.9B |
| Total Assets | $1.0B | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $583.8M | $233.5M | ||
| Q3 25 | $565.2M | $330.7M | ||
| Q2 25 | $545.5M | $255.4M | ||
| Q1 25 | $520.6M | $163.7M | ||
| Q4 24 | $535.6M | $277.9M | ||
| Q3 24 | $522.0M | $355.7M | ||
| Q2 24 | $561.5M | $481.2M | ||
| Q1 24 | $569.1M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $152.7M | $2.9B | ||
| Q3 25 | $121.9M | $3.5B | ||
| Q2 25 | $103.7M | $3.3B | ||
| Q1 25 | $86.7M | $2.9B | ||
| Q4 24 | $90.9M | $3.1B | ||
| Q3 24 | $71.8M | $2.7B | ||
| Q2 24 | $99.2M | $2.6B | ||
| Q1 24 | $90.3M | $2.5B |
| Q4 25 | $1.0B | $3.9B | ||
| Q3 25 | $995.2M | $4.5B | ||
| Q2 25 | $964.0M | $4.3B | ||
| Q1 25 | $926.1M | $3.7B | ||
| Q4 24 | $931.4M | $3.9B | ||
| Q3 24 | $909.7M | $2.9B | ||
| Q2 24 | $919.2M | $2.7B | ||
| Q1 24 | $909.8M | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| 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 | $-572.9M |
| Free Cash FlowOCF − Capex | $14.5M | $-774.3M |
| FCF MarginFCF / Revenue | 6.9% | -506.6% |
| Capex IntensityCapex / Revenue | 5.6% | 131.8% |
| Cash ConversionOCF / Net Profit | 4.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $-572.9M | ||
| Q3 25 | $34.9M | $-114.0M | ||
| Q2 25 | $27.7M | $-231.3M | ||
| Q1 25 | $-7.9M | $-122.1M | ||
| Q4 24 | $19.2M | $-255.1M | ||
| Q3 24 | $24.3M | $-56.3M | ||
| Q2 24 | $11.8M | $-42.5M | ||
| Q1 24 | $-52.0M | $-57.9M |
| Q4 25 | $14.5M | $-774.3M | ||
| Q3 25 | $20.1M | $-139.7M | ||
| Q2 25 | $17.3M | $-291.7M | ||
| Q1 25 | $-17.3M | $-154.9M | ||
| Q4 24 | $12.4M | $-495.4M | ||
| Q3 24 | $15.5M | $-127.6M | ||
| Q2 24 | $3.4M | $-96.1M | ||
| Q1 24 | $-61.8M | $-115.2M |
| Q4 25 | 6.9% | -506.6% | ||
| Q3 25 | 10.4% | -77.5% | ||
| Q2 25 | 9.3% | -190.7% | ||
| Q1 25 | -10.9% | -96.0% | ||
| Q4 24 | 7.5% | -347.5% | ||
| Q3 24 | 10.5% | -150.5% | ||
| Q2 24 | 2.3% | -137.2% | ||
| Q1 24 | -46.8% | -145.2% |
| Q4 25 | 5.6% | 131.8% | ||
| Q3 25 | 7.7% | 14.3% | ||
| Q2 25 | 5.6% | 39.5% | ||
| Q1 25 | 5.9% | 20.4% | ||
| Q4 24 | 4.2% | 168.6% | ||
| Q3 24 | 6.0% | 84.1% | ||
| Q2 24 | 5.7% | 76.5% | ||
| Q1 24 | 7.4% | 72.3% |
| Q4 25 | 4.70× | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.27× |
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% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
