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Side-by-side financial comparison of IRONWOOD PHARMACEUTICALS INC (IRWD) and P10, Inc. (PX). Click either name above to swap in a different company.
P10, Inc. is the larger business by last-quarter revenue ($81.0M vs $47.7M, roughly 1.7× IRONWOOD PHARMACEUTICALS INC). P10, Inc. runs the higher net margin — 11.7% vs -4.8%, a 16.4% gap on every dollar of revenue. On growth, P10, Inc. posted the faster year-over-year revenue change (-4.7% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $18.1M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% CAGR vs -20.2%).
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
IRWD vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.7M | $81.0M |
| Net Profit | $-2.3M | $9.5M |
| Gross Margin | — | — |
| Operating Margin | 14.3% | 31.9% |
| Net Margin | -4.8% | 11.7% |
| Revenue YoY | -47.3% | -4.7% |
| Net Profit YoY | -200.9% | 79.0% |
| EPS (diluted) | $0.01 | $0.08 |
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 | $81.0M | ||
| Q3 25 | $122.1M | $75.9M | ||
| Q2 25 | $85.2M | $72.7M | ||
| Q1 25 | $41.1M | $67.7M | ||
| Q4 24 | $90.5M | $85.0M | ||
| Q3 24 | $91.6M | $74.2M | ||
| Q2 24 | $94.4M | $71.1M | ||
| Q1 24 | $74.9M | $66.1M |
| Q4 25 | $-2.3M | $9.5M | ||
| Q3 25 | $40.1M | $2.1M | ||
| Q2 25 | $23.6M | $3.4M | ||
| Q1 25 | $-37.4M | $4.5M | ||
| Q4 24 | $2.3M | $5.3M | ||
| Q3 24 | $3.6M | $1.4M | ||
| Q2 24 | $-860.0K | $7.0M | ||
| Q1 24 | $-4.2M | $5.0M |
| Q4 25 | 14.3% | 31.9% | ||
| Q3 25 | 61.8% | 14.1% | ||
| Q2 25 | 53.2% | 24.4% | ||
| Q1 25 | -70.7% | 16.6% | ||
| Q4 24 | 34.8% | 26.9% | ||
| Q3 24 | 28.0% | 11.9% | ||
| Q2 24 | 26.5% | 23.7% | ||
| Q1 24 | 14.7% | 18.3% |
| Q4 25 | -4.8% | 11.7% | ||
| Q3 25 | 32.8% | 2.8% | ||
| Q2 25 | 27.7% | 4.7% | ||
| Q1 25 | -90.9% | 6.7% | ||
| Q4 24 | 2.5% | 6.2% | ||
| Q3 24 | 4.0% | 1.9% | ||
| Q2 24 | -0.9% | 9.8% | ||
| Q1 24 | -5.6% | 7.6% |
| Q4 25 | $0.01 | $0.08 | ||
| Q3 25 | $0.23 | $0.02 | ||
| Q2 25 | $0.14 | $0.03 | ||
| Q1 25 | $-0.23 | $0.04 | ||
| Q4 24 | $0.03 | $0.05 | ||
| Q3 24 | $0.02 | $0.01 | ||
| Q2 24 | $-0.01 | $0.06 | ||
| Q1 24 | $-0.03 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $215.5M | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $-261.8M | $403.5M |
| Total Assets | $396.9M | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $215.5M | $28.2M | ||
| Q3 25 | $140.4M | $40.0M | ||
| Q2 25 | $92.9M | $33.4M | ||
| Q1 25 | $108.5M | $74.4M | ||
| Q4 24 | $88.6M | $67.5M | ||
| Q3 24 | $88.2M | $61.5M | ||
| Q2 24 | $105.5M | $31.2M | ||
| Q1 24 | $121.5M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | $199.5M | $393.4M | ||
| Q2 25 | $199.3M | $373.0M | ||
| Q1 25 | $199.2M | $357.2M | ||
| Q4 24 | $199.0M | $319.8M | ||
| Q3 24 | $198.8M | $319.4M | ||
| Q2 24 | $198.6M | $300.6M | ||
| Q1 24 | $398.3M | $314.0M |
| Q4 25 | $-261.8M | $403.5M | ||
| Q3 25 | $-264.2M | $396.8M | ||
| Q2 25 | $-308.2M | $388.9M | ||
| Q1 25 | $-334.1M | $374.3M | ||
| Q4 24 | $-301.3M | $386.9M | ||
| Q3 24 | $-311.3M | $394.1M | ||
| Q2 24 | $-321.7M | $396.9M | ||
| Q1 24 | $-330.5M | $400.1M |
| Q4 25 | $396.9M | $928.3M | ||
| Q3 25 | $396.1M | $936.0M | ||
| Q2 25 | $342.9M | $932.2M | ||
| Q1 25 | $327.2M | $877.4M | ||
| Q4 24 | $350.9M | $869.3M | ||
| Q3 24 | $389.5M | $857.0M | ||
| Q2 24 | $395.6M | $823.2M | ||
| Q1 24 | $438.8M | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $23.0M |
| Free Cash FlowOCF − Capex | $74.6M | $18.1M |
| FCF MarginFCF / Revenue | 156.3% | 22.3% |
| Capex IntensityCapex / Revenue | 0.0% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $127.0M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $23.0M | ||
| Q3 25 | $47.6M | $-8.6M | ||
| Q2 25 | $-15.1M | $13.4M | ||
| Q1 25 | $20.0M | $-4.7M | ||
| Q4 24 | $15.2M | $101.0M | ||
| Q3 24 | $9.9M | $27.5M | ||
| Q2 24 | $33.5M | $34.8M | ||
| Q1 24 | $45.0M | $11.0M |
| Q4 25 | $74.6M | $18.1M | ||
| Q3 25 | $47.6M | $-9.5M | ||
| Q2 25 | $-15.1M | $11.6M | ||
| Q1 25 | $19.9M | $-6.0M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | $9.9M | $25.2M | ||
| Q2 24 | $33.4M | $33.9M | ||
| Q1 24 | $44.9M | $10.7M |
| Q4 25 | 156.3% | 22.3% | ||
| Q3 25 | 39.0% | -12.6% | ||
| Q2 25 | -17.7% | 15.9% | ||
| Q1 25 | 48.4% | -8.9% | ||
| Q4 24 | — | 113.6% | ||
| Q3 24 | 10.8% | 34.0% | ||
| Q2 24 | 35.4% | 47.7% | ||
| Q1 24 | 60.0% | 16.2% |
| Q4 25 | 0.0% | 6.0% | ||
| Q3 25 | 0.0% | 1.2% | ||
| Q2 25 | 0.0% | 2.5% | ||
| Q1 25 | 0.1% | 1.9% | ||
| Q4 24 | 0.0% | 5.2% | ||
| Q3 24 | 0.0% | 3.0% | ||
| Q2 24 | 0.1% | 1.3% | ||
| Q1 24 | 0.1% | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | 1.19× | -4.01× | ||
| Q2 25 | -0.64× | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | 6.74× | 19.12× | ||
| Q3 24 | 2.71× | 19.54× | ||
| Q2 24 | — | 4.98× | ||
| Q1 24 | — | 2.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRWD
Segment breakdown not available.
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
