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Side-by-side financial comparison of iRhythm Holdings, Inc. (IRTC) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
iRhythm Holdings, Inc. is the larger business by last-quarter revenue ($208.9M vs $117.3M, roughly 1.8× Latham Group, Inc.). iRhythm Holdings, Inc. runs the higher net margin — 2.7% vs -7.3%, a 9.9% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 5.3%). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs -14.4%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
IRTC vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.9M | $117.3M |
| Net Profit | $5.6M | $-8.5M |
| Gross Margin | 70.9% | 31.7% |
| Operating Margin | 1.1% | — |
| Net Margin | 2.7% | -7.3% |
| Revenue YoY | 27.1% | 5.3% |
| Net Profit YoY | 518.5% | -43.1% |
| EPS (diluted) | $0.18 | $-0.07 |
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.
| Q1 26 | — | $117.3M | ||
| Q4 25 | $208.9M | $100.0M | ||
| Q3 25 | $192.9M | $161.9M | ||
| Q2 25 | $186.7M | $172.6M | ||
| Q1 25 | $158.7M | $111.4M | ||
| Q4 24 | $164.3M | $87.3M | ||
| Q3 24 | $147.5M | $150.5M | ||
| Q2 24 | $148.0M | $160.1M |
| Q1 26 | — | $-8.5M | ||
| Q4 25 | $5.6M | $-7.0M | ||
| Q3 25 | $-5.2M | $8.1M | ||
| Q2 25 | $-14.2M | $16.0M | ||
| Q1 25 | $-30.7M | $-6.0M | ||
| Q4 24 | $-1.3M | $-29.2M | ||
| Q3 24 | $-46.2M | $5.9M | ||
| Q2 24 | $-20.1M | $13.3M |
| Q1 26 | — | 31.7% | ||
| Q4 25 | 70.9% | 28.0% | ||
| Q3 25 | 71.1% | 35.4% | ||
| Q2 25 | 71.2% | 37.1% | ||
| Q1 25 | 68.8% | 29.5% | ||
| Q4 24 | 70.0% | 24.6% | ||
| Q3 24 | 68.8% | 32.4% | ||
| Q2 24 | 69.9% | 33.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | -10.7% | ||
| Q3 25 | -4.4% | 13.3% | ||
| Q2 25 | -10.0% | 14.3% | ||
| Q1 25 | -20.5% | -4.4% | ||
| Q4 24 | -2.5% | -14.9% | ||
| Q3 24 | -34.1% | 8.9% | ||
| Q2 24 | -15.5% | 12.5% |
| Q1 26 | — | -7.3% | ||
| Q4 25 | 2.7% | -7.0% | ||
| Q3 25 | -2.7% | 5.0% | ||
| Q2 25 | -7.6% | 9.3% | ||
| Q1 25 | -19.3% | -5.4% | ||
| Q4 24 | -0.8% | -33.4% | ||
| Q3 24 | -31.3% | 3.9% | ||
| Q2 24 | -13.6% | 8.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $0.18 | $-0.06 | ||
| Q3 25 | $-0.16 | $0.07 | ||
| Q2 25 | $-0.44 | $0.13 | ||
| Q1 25 | $-0.97 | $-0.05 | ||
| Q4 24 | $-0.03 | $-0.24 | ||
| Q3 24 | $-1.48 | $0.05 | ||
| Q2 24 | $-0.65 | $0.11 |
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 | — |
| Total DebtLower is stronger | — | $3.3M |
| Stockholders' EquityBook value | $152.7M | $396.7M |
| Total Assets | $1.0B | $856.4M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $583.8M | — | ||
| Q3 25 | $565.2M | — | ||
| Q2 25 | $545.5M | — | ||
| Q1 25 | $520.6M | — | ||
| Q4 24 | $535.6M | — | ||
| Q3 24 | $522.0M | — | ||
| Q2 24 | $561.5M | — |
| Q1 26 | — | $3.3M | ||
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M |
| Q1 26 | — | $396.7M | ||
| Q4 25 | $152.7M | $405.9M | ||
| Q3 25 | $121.9M | $408.4M | ||
| Q2 25 | $103.7M | $398.4M | ||
| Q1 25 | $86.7M | $381.1M | ||
| Q4 24 | $90.9M | $387.2M | ||
| Q3 24 | $71.8M | $416.6M | ||
| Q2 24 | $99.2M | $408.1M |
| Q1 26 | — | $856.4M | ||
| Q4 25 | $1.0B | $823.2M | ||
| Q3 25 | $995.2M | $844.4M | ||
| Q2 25 | $964.0M | $822.1M | ||
| Q1 25 | $926.1M | $824.6M | ||
| Q4 24 | $931.4M | $794.2M | ||
| Q3 24 | $909.7M | $853.4M | ||
| Q2 24 | $919.2M | $830.0M |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× |
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 | $-47.7M |
| Free Cash FlowOCF − Capex | $14.5M | — |
| FCF MarginFCF / Revenue | 6.9% | — |
| Capex IntensityCapex / Revenue | 5.6% | — |
| Cash ConversionOCF / Net Profit | 4.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-47.7M | ||
| Q4 25 | $26.2M | $23.3M | ||
| Q3 25 | $34.9M | $51.0M | ||
| Q2 25 | $27.7M | $36.0M | ||
| Q1 25 | $-7.9M | $-46.9M | ||
| Q4 24 | $19.2M | $6.2M | ||
| Q3 24 | $24.3M | $37.2M | ||
| Q2 24 | $11.8M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $14.5M | $14.1M | ||
| Q3 25 | $20.1M | $45.2M | ||
| Q2 25 | $17.3M | $29.1M | ||
| Q1 25 | $-17.3M | $-50.3M | ||
| Q4 24 | $12.4M | $-98.0K | ||
| Q3 24 | $15.5M | $33.2M | ||
| Q2 24 | $3.4M | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | 6.9% | 14.1% | ||
| Q3 25 | 10.4% | 27.9% | ||
| Q2 25 | 9.3% | 16.8% | ||
| Q1 25 | -10.9% | -45.2% | ||
| Q4 24 | 7.5% | -0.1% | ||
| Q3 24 | 10.5% | 22.1% | ||
| Q2 24 | 2.3% | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | 9.2% | ||
| Q3 25 | 7.7% | 3.6% | ||
| Q2 25 | 5.6% | 4.0% | ||
| Q1 25 | 5.9% | 3.1% | ||
| Q4 24 | 4.2% | 7.2% | ||
| Q3 24 | 6.0% | 2.7% | ||
| Q2 24 | 5.7% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 4.70× | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× |
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% |
SWIM
Segment breakdown not available.
