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Side-by-side financial comparison of IRONWOOD PHARMACEUTICALS INC (IRWD) and ON24 INC. (ONTF). Click either name above to swap in a different company.
IRONWOOD PHARMACEUTICALS INC is the larger business by last-quarter revenue ($47.7M vs $34.6M, roughly 1.4× ON24 INC.). IRONWOOD PHARMACEUTICALS INC runs the higher net margin — -4.8% vs -18.8%, a 14.0% gap on every dollar of revenue. On growth, ON24 INC. posted the faster year-over-year revenue change (-5.6% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $-2.2M). Over the past eight quarters, ON24 INC.'s revenue compounded faster (-4.2% CAGR vs -20.2%).
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
IRWD vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.7M | $34.6M |
| Net Profit | $-2.3M | $-6.5M |
| Gross Margin | — | 74.9% |
| Operating Margin | 14.3% | -23.5% |
| Net Margin | -4.8% | -18.8% |
| Revenue YoY | -47.3% | -5.6% |
| Net Profit YoY | -200.9% | 26.8% |
| EPS (diluted) | $0.01 | $-0.15 |
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 | $47.7M | $34.6M | ||
| Q3 25 | $122.1M | $34.6M | ||
| Q2 25 | $85.2M | $35.3M | ||
| Q1 25 | $41.1M | $34.7M | ||
| Q4 24 | $90.5M | $36.7M | ||
| Q3 24 | $91.6M | $36.3M | ||
| Q2 24 | $94.4M | $37.3M | ||
| Q1 24 | $74.9M | $37.7M |
| Q4 25 | $-2.3M | $-6.5M | ||
| Q3 25 | $40.1M | $-6.4M | ||
| Q2 25 | $23.6M | $-7.3M | ||
| Q1 25 | $-37.4M | $-8.7M | ||
| Q4 24 | $2.3M | $-8.9M | ||
| Q3 24 | $3.6M | $-11.4M | ||
| Q2 24 | $-860.0K | $-11.2M | ||
| Q1 24 | $-4.2M | $-10.7M |
| Q4 25 | — | 74.9% | ||
| Q3 25 | — | 74.7% | ||
| Q2 25 | — | 75.1% | ||
| Q1 25 | — | 73.8% | ||
| Q4 24 | — | 74.5% | ||
| Q3 24 | — | 74.3% | ||
| Q2 24 | — | 74.5% | ||
| Q1 24 | — | 74.1% |
| Q4 25 | 14.3% | -23.5% | ||
| Q3 25 | 61.8% | -23.1% | ||
| Q2 25 | 53.2% | -26.0% | ||
| Q1 25 | -70.7% | -30.1% | ||
| Q4 24 | 34.8% | -32.1% | ||
| Q3 24 | 28.0% | -36.7% | ||
| Q2 24 | 26.5% | -35.0% | ||
| Q1 24 | 14.7% | -33.1% |
| Q4 25 | -4.8% | -18.8% | ||
| Q3 25 | 32.8% | -18.4% | ||
| Q2 25 | 27.7% | -20.6% | ||
| Q1 25 | -90.9% | -25.1% | ||
| Q4 24 | 2.5% | -24.2% | ||
| Q3 24 | 4.0% | -31.4% | ||
| Q2 24 | -0.9% | -29.9% | ||
| Q1 24 | -5.6% | -28.4% |
| Q4 25 | $0.01 | $-0.15 | ||
| Q3 25 | $0.23 | $-0.15 | ||
| Q2 25 | $0.14 | $-0.17 | ||
| Q1 25 | $-0.23 | $-0.21 | ||
| Q4 24 | $0.03 | $-0.21 | ||
| Q3 24 | $0.02 | $-0.27 | ||
| Q2 24 | $-0.01 | $-0.27 | ||
| Q1 24 | $-0.03 | $-0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $215.5M | $37.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-261.8M | $139.4M |
| Total Assets | $396.9M | $228.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $215.5M | $37.0M | ||
| Q3 25 | $140.4M | $47.2M | ||
| Q2 25 | $92.9M | $37.7M | ||
| Q1 25 | $108.5M | $26.8M | ||
| Q4 24 | $88.6M | $14.9M | ||
| Q3 24 | $88.2M | $11.0M | ||
| Q2 24 | $105.5M | $15.5M | ||
| Q1 24 | $121.5M | $18.3M |
| Q4 25 | — | — | ||
| Q3 25 | $199.5M | — | ||
| Q2 25 | $199.3M | — | ||
| Q1 25 | $199.2M | — | ||
| Q4 24 | $199.0M | — | ||
| Q3 24 | $198.8M | — | ||
| Q2 24 | $198.6M | — | ||
| Q1 24 | $398.3M | — |
| Q4 25 | $-261.8M | $139.4M | ||
| Q3 25 | $-264.2M | $144.3M | ||
| Q2 25 | $-308.2M | $150.0M | ||
| Q1 25 | $-334.1M | $153.7M | ||
| Q4 24 | $-301.3M | $159.4M | ||
| Q3 24 | $-311.3M | $164.9M | ||
| Q2 24 | $-321.7M | $170.8M | ||
| Q1 24 | $-330.5M | $174.4M |
| Q4 25 | $396.9M | $228.4M | ||
| Q3 25 | $396.1M | $224.8M | ||
| Q2 25 | $342.9M | $235.1M | ||
| Q1 25 | $327.2M | $245.8M | ||
| Q4 24 | $350.9M | $251.0M | ||
| Q3 24 | $389.5M | $250.9M | ||
| Q2 24 | $395.6M | $259.0M | ||
| Q1 24 | $438.8M | $269.2M |
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 | $74.6M | $-1.1M |
| Free Cash FlowOCF − Capex | $74.6M | $-2.2M |
| FCF MarginFCF / Revenue | 156.3% | -6.4% |
| Capex IntensityCapex / Revenue | 0.0% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $127.0M | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $-1.1M | ||
| Q3 25 | $47.6M | $2.5M | ||
| Q2 25 | $-15.1M | $2.6M | ||
| Q1 25 | $20.0M | $3.4M | ||
| Q4 24 | $15.2M | $985.0K | ||
| Q3 24 | $9.9M | $295.0K | ||
| Q2 24 | $33.5M | $1.4M | ||
| Q1 24 | $45.0M | $2.1M |
| Q4 25 | $74.6M | $-2.2M | ||
| Q3 25 | $47.6M | $2.2M | ||
| Q2 25 | $-15.1M | $2.1M | ||
| Q1 25 | $19.9M | $1.9M | ||
| Q4 24 | — | $424.0K | ||
| Q3 24 | $9.9M | $143.0K | ||
| Q2 24 | $33.4M | $898.0K | ||
| Q1 24 | $44.9M | $1.1M |
| Q4 25 | 156.3% | -6.4% | ||
| Q3 25 | 39.0% | 6.2% | ||
| Q2 25 | -17.7% | 5.9% | ||
| Q1 25 | 48.4% | 5.6% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | 10.8% | 0.4% | ||
| Q2 24 | 35.4% | 2.4% | ||
| Q1 24 | 60.0% | 2.9% |
| Q4 25 | 0.0% | 3.3% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 1.4% | ||
| Q1 25 | 0.1% | 4.2% | ||
| Q4 24 | 0.0% | 1.5% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.1% | 1.3% | ||
| Q1 24 | 0.1% | 2.8% |
| Q4 25 | — | — | ||
| Q3 25 | 1.19× | — | ||
| Q2 25 | -0.64× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.74× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
