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Side-by-side financial comparison of IRONWOOD PHARMACEUTICALS INC (IRWD) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
IRONWOOD PHARMACEUTICALS INC is the larger business by last-quarter revenue ($47.7M vs $33.9M, roughly 1.4× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs -4.8%, a 13.4% gap on every dollar of revenue. On growth, Spok Holdings, Inc posted the faster year-over-year revenue change (-0.1% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $10.1M). Over the past eight quarters, Spok Holdings, Inc's revenue compounded faster (-1.5% CAGR vs -20.2%).
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
IRWD vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.7M | $33.9M |
| Net Profit | $-2.3M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | 14.3% | 11.6% |
| Net Margin | -4.8% | 8.7% |
| Revenue YoY | -47.3% | -0.1% |
| Net Profit YoY | -200.9% | -19.6% |
| EPS (diluted) | $0.01 | $0.13 |
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 | $33.9M | ||
| Q3 25 | $122.1M | $33.9M | ||
| Q2 25 | $85.2M | $35.7M | ||
| Q1 25 | $41.1M | $36.3M | ||
| Q4 24 | $90.5M | $33.9M | ||
| Q3 24 | $91.6M | $34.9M | ||
| Q2 24 | $94.4M | $34.0M | ||
| Q1 24 | $74.9M | $34.9M |
| Q4 25 | $-2.3M | $2.9M | ||
| Q3 25 | $40.1M | $3.2M | ||
| Q2 25 | $23.6M | $4.6M | ||
| Q1 25 | $-37.4M | $5.2M | ||
| Q4 24 | $2.3M | $3.6M | ||
| Q3 24 | $3.6M | $3.7M | ||
| Q2 24 | $-860.0K | $3.4M | ||
| Q1 24 | $-4.2M | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 14.3% | 11.6% | ||
| Q3 25 | 61.8% | 12.9% | ||
| Q2 25 | 53.2% | 15.1% | ||
| Q1 25 | -70.7% | 16.6% | ||
| Q4 24 | 34.8% | 13.7% | ||
| Q3 24 | 28.0% | 14.2% | ||
| Q2 24 | 26.5% | 13.2% | ||
| Q1 24 | 14.7% | 14.0% |
| Q4 25 | -4.8% | 8.7% | ||
| Q3 25 | 32.8% | 9.5% | ||
| Q2 25 | 27.7% | 12.8% | ||
| Q1 25 | -90.9% | 14.3% | ||
| Q4 24 | 2.5% | 10.8% | ||
| Q3 24 | 4.0% | 10.5% | ||
| Q2 24 | -0.9% | 10.1% | ||
| Q1 24 | -5.6% | 12.1% |
| Q4 25 | $0.01 | $0.13 | ||
| Q3 25 | $0.23 | $0.15 | ||
| Q2 25 | $0.14 | $0.22 | ||
| Q1 25 | $-0.23 | $0.25 | ||
| Q4 24 | $0.03 | $0.17 | ||
| Q3 24 | $0.02 | $0.18 | ||
| Q2 24 | $-0.01 | $0.17 | ||
| Q1 24 | $-0.03 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-261.8M | $146.4M |
| Total Assets | $396.9M | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $215.5M | $25.3M | ||
| Q3 25 | $140.4M | $21.4M | ||
| Q2 25 | $92.9M | $20.2M | ||
| Q1 25 | $108.5M | $19.9M | ||
| Q4 24 | $88.6M | $29.1M | ||
| Q3 24 | $88.2M | $27.8M | ||
| Q2 24 | $105.5M | $23.9M | ||
| Q1 24 | $121.5M | $23.3M |
| 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 | $146.4M | ||
| Q3 25 | $-264.2M | $148.7M | ||
| Q2 25 | $-308.2M | $150.9M | ||
| Q1 25 | $-334.1M | $151.7M | ||
| Q4 24 | $-301.3M | $154.7M | ||
| Q3 24 | $-311.3M | $156.3M | ||
| Q2 24 | $-321.7M | $158.2M | ||
| Q1 24 | $-330.5M | $160.2M |
| Q4 25 | $396.9M | $206.1M | ||
| Q3 25 | $396.1M | $209.7M | ||
| Q2 25 | $342.9M | $208.7M | ||
| Q1 25 | $327.2M | $204.5M | ||
| Q4 24 | $350.9M | $217.1M | ||
| Q3 24 | $389.5M | $216.8M | ||
| Q2 24 | $395.6M | $216.4M | ||
| Q1 24 | $438.8M | $215.0M |
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 | $11.5M |
| Free Cash FlowOCF − Capex | $74.6M | $10.1M |
| FCF MarginFCF / Revenue | 156.3% | 29.9% |
| Capex IntensityCapex / Revenue | 0.0% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $127.0M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $11.5M | ||
| Q3 25 | $47.6M | $8.1M | ||
| Q2 25 | $-15.1M | $7.0M | ||
| Q1 25 | $20.0M | $2.3M | ||
| Q4 24 | $15.2M | $8.4M | ||
| Q3 24 | $9.9M | $11.1M | ||
| Q2 24 | $33.5M | $7.4M | ||
| Q1 24 | $45.0M | $2.0M |
| Q4 25 | $74.6M | $10.1M | ||
| Q3 25 | $47.6M | $7.6M | ||
| Q2 25 | $-15.1M | $6.0M | ||
| Q1 25 | $19.9M | $1.5M | ||
| Q4 24 | — | $7.5M | ||
| Q3 24 | $9.9M | $10.3M | ||
| Q2 24 | $33.4M | $6.8M | ||
| Q1 24 | $44.9M | $1.1M |
| Q4 25 | 156.3% | 29.9% | ||
| Q3 25 | 39.0% | 22.4% | ||
| Q2 25 | -17.7% | 16.8% | ||
| Q1 25 | 48.4% | 4.2% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | 10.8% | 29.4% | ||
| Q2 24 | 35.4% | 20.0% | ||
| Q1 24 | 60.0% | 3.2% |
| Q4 25 | 0.0% | 4.1% | ||
| Q3 25 | 0.0% | 1.6% | ||
| Q2 25 | 0.0% | 2.9% | ||
| Q1 25 | 0.1% | 2.1% | ||
| Q4 24 | 0.0% | 2.5% | ||
| Q3 24 | 0.0% | 2.4% | ||
| Q2 24 | 0.1% | 1.9% | ||
| Q1 24 | 0.1% | 2.5% |
| Q4 25 | — | 3.93× | ||
| Q3 25 | 1.19× | 2.54× | ||
| Q2 25 | -0.64× | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | 6.74× | 2.31× | ||
| Q3 24 | 2.71× | 3.03× | ||
| Q2 24 | — | 2.17× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRWD
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
