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Side-by-side financial comparison of IRONWOOD PHARMACEUTICALS INC (IRWD) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $47.7M, roughly 1.8× IRONWOOD PHARMACEUTICALS INC). Smart Sand, Inc. runs the higher net margin — 1.4% vs -4.8%, a 6.1% gap on every dollar of revenue. On growth, Smart Sand, Inc. posted the faster year-over-year revenue change (-5.8% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $20.4M). Over the past eight quarters, Smart Sand, Inc.'s revenue compounded faster (1.8% CAGR vs -20.2%).
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
IRWD vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.7M | $86.0M |
| Net Profit | $-2.3M | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | 14.3% | -3.1% |
| Net Margin | -4.8% | 1.4% |
| Revenue YoY | -47.3% | -5.8% |
| Net Profit YoY | -200.9% | -68.5% |
| EPS (diluted) | $0.01 | $0.03 |
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 | $86.0M | ||
| Q3 25 | $122.1M | $92.8M | ||
| Q2 25 | $85.2M | $85.8M | ||
| Q1 25 | $41.1M | $65.6M | ||
| Q4 24 | $90.5M | $91.4M | ||
| Q3 24 | $91.6M | $63.2M | ||
| Q2 24 | $94.4M | $73.8M | ||
| Q1 24 | $74.9M | $83.1M |
| Q4 25 | $-2.3M | $1.2M | ||
| Q3 25 | $40.1M | $3.0M | ||
| Q2 25 | $23.6M | $21.4M | ||
| Q1 25 | $-37.4M | $-24.2M | ||
| Q4 24 | $2.3M | $3.7M | ||
| Q3 24 | $3.6M | $-98.0K | ||
| Q2 24 | $-860.0K | $-430.0K | ||
| Q1 24 | $-4.2M | $-216.0K |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 17.7% | ||
| Q1 24 | — | 14.2% |
| Q4 25 | 14.3% | -3.1% | ||
| Q3 25 | 61.8% | 5.8% | ||
| Q2 25 | 53.2% | -0.1% | ||
| Q1 25 | -70.7% | -10.8% | ||
| Q4 24 | 34.8% | 3.9% | ||
| Q3 24 | 28.0% | -7.8% | ||
| Q2 24 | 26.5% | 4.8% | ||
| Q1 24 | 14.7% | 0.9% |
| Q4 25 | -4.8% | 1.4% | ||
| Q3 25 | 32.8% | 3.2% | ||
| Q2 25 | 27.7% | 24.9% | ||
| Q1 25 | -90.9% | -37.0% | ||
| Q4 24 | 2.5% | 4.1% | ||
| Q3 24 | 4.0% | -0.2% | ||
| Q2 24 | -0.9% | -0.6% | ||
| Q1 24 | -5.6% | -0.3% |
| Q4 25 | $0.01 | $0.03 | ||
| Q3 25 | $0.23 | $0.08 | ||
| Q2 25 | $0.14 | $0.54 | ||
| Q1 25 | $-0.23 | $-0.62 | ||
| Q4 24 | $0.03 | $0.10 | ||
| Q3 24 | $0.02 | $0.00 | ||
| Q2 24 | $-0.01 | $-0.01 | ||
| Q1 24 | $-0.03 | $-0.01 |
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 | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $-261.8M | $239.7M |
| Total Assets | $396.9M | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $215.5M | $22.6M | ||
| Q3 25 | $140.4M | $5.1M | ||
| Q2 25 | $92.9M | $4.3M | ||
| Q1 25 | $108.5M | $5.1M | ||
| Q4 24 | $88.6M | $1.6M | ||
| Q3 24 | $88.2M | $7.2M | ||
| Q2 24 | $105.5M | $6.3M | ||
| Q1 24 | $121.5M | $4.6M |
| Q4 25 | — | $15.0M | ||
| Q3 25 | $199.5M | $14.3M | ||
| Q2 25 | $199.3M | $23.5M | ||
| Q1 25 | $199.2M | $13.7M | ||
| Q4 24 | $199.0M | $14.7M | ||
| Q3 24 | $198.8M | $15.7M | ||
| Q2 24 | $198.6M | $17.1M | ||
| Q1 24 | $398.3M | $25.5M |
| Q4 25 | $-261.8M | $239.7M | ||
| Q3 25 | $-264.2M | $239.9M | ||
| Q2 25 | $-308.2M | $240.5M | ||
| Q1 25 | $-334.1M | $219.9M | ||
| Q4 24 | $-301.3M | $243.8M | ||
| Q3 24 | $-311.3M | $243.6M | ||
| Q2 24 | $-321.7M | $242.9M | ||
| Q1 24 | $-330.5M | $242.5M |
| Q4 25 | $396.9M | $340.0M | ||
| Q3 25 | $396.1M | $343.1M | ||
| Q2 25 | $342.9M | $345.8M | ||
| Q1 25 | $327.2M | $326.9M | ||
| Q4 24 | $350.9M | $341.5M | ||
| Q3 24 | $389.5M | $335.8M | ||
| Q2 24 | $395.6M | $341.8M | ||
| Q1 24 | $438.8M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
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 | $22.4M |
| Free Cash FlowOCF − Capex | $74.6M | $20.4M |
| FCF MarginFCF / Revenue | 156.3% | 23.7% |
| Capex IntensityCapex / Revenue | 0.0% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $127.0M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $22.4M | ||
| Q3 25 | $47.6M | $18.2M | ||
| Q2 25 | $-15.1M | $-5.1M | ||
| Q1 25 | $20.0M | $8.7M | ||
| Q4 24 | $15.2M | $1.0M | ||
| Q3 24 | $9.9M | $5.8M | ||
| Q2 24 | $33.5M | $14.9M | ||
| Q1 24 | $45.0M | $-3.9M |
| Q4 25 | $74.6M | $20.4M | ||
| Q3 25 | $47.6M | $14.8M | ||
| Q2 25 | $-15.1M | $-7.8M | ||
| Q1 25 | $19.9M | $5.2M | ||
| Q4 24 | — | $-840.0K | ||
| Q3 24 | $9.9M | $3.7M | ||
| Q2 24 | $33.4M | $13.5M | ||
| Q1 24 | $44.9M | $-5.5M |
| Q4 25 | 156.3% | 23.7% | ||
| Q3 25 | 39.0% | 15.9% | ||
| Q2 25 | -17.7% | -9.1% | ||
| Q1 25 | 48.4% | 7.9% | ||
| Q4 24 | — | -0.9% | ||
| Q3 24 | 10.8% | 5.8% | ||
| Q2 24 | 35.4% | 18.3% | ||
| Q1 24 | 60.0% | -6.6% |
| Q4 25 | 0.0% | 2.3% | ||
| Q3 25 | 0.0% | 3.6% | ||
| Q2 25 | 0.0% | 3.1% | ||
| Q1 25 | 0.1% | 5.4% | ||
| Q4 24 | 0.0% | 2.1% | ||
| Q3 24 | 0.0% | 3.4% | ||
| Q2 24 | 0.1% | 1.8% | ||
| Q1 24 | 0.1% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | 1.19× | 6.05× | ||
| Q2 25 | -0.64× | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.74× | 0.28× | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRWD
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
