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Embecta vs iRhythm Holdings: EMBC and IRTC compared
Embecta is the larger company: $272M of revenue in its latest quarter (Q3 FY26) against $222M for iRhythm Holdings (Q3 2026). iRhythm Holdings is growing faster (+15% against -8% a year earlier). Embecta is more profitable, with an operating margin of 17.9% against -14.7%.
Where the money goes: EMBC and IRTC
Embecta (EMBC) · Q3 FY26
Embecta, Q3 FY26: revenue $272M (-8% year over year), operating margin 17.9%, net earnings $21.1M, operating cash flow $41.8M. The chart follows the revenue to costs, profit and cash.
iRhythm Holdings (IRTC) · Q3 2026
iRhythm Holdings, Q3 2026: revenue $222M (+15% year over year), operating margin -14.7%, net loss $29.9M, operating cash flow $4.4M. The chart follows the revenue to costs, profit and cash.
| Embecta (EMBC) | iRhythm Holdings (IRTC) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $272M | $222M |
| Revenue growth, Y/Y | -8% | +15% |
| Gross margin | 56.4% | — |
| Operating margin | 17.9% | -14.7% |
| Net earnings | $21.1M | −$29.9M |
| Net margin | 7.8% | -13.5% |
| Operating cash flow | $41.8M | $4.4M |
| Free cash flow | $40.7M | — |
Where the revenue comes from
Embecta
- Pen Needles: $178M (65%)
- Safety: $36.7M (14%)
- Syringes: $36.6M (13%)
- Other: $15.6M (6%)
iRhythm Holdings
- Contracted third-party payors: $111M (50%)
- CMS: $57.2M (26%)
- Customer A: $37.4M (17%)
- Non-contracted third-party payors: $16.1M (7%)
Questions
Which is bigger, Embecta or iRhythm Holdings?
Embecta is the larger company: $272M of revenue in its latest quarter (Q3 FY26) against $222M for iRhythm Holdings (Q3 2026).
Is Embecta or iRhythm Holdings growing faster?
iRhythm Holdings is growing faster (+15% against -8% a year earlier).
Which is more profitable, Embecta or iRhythm Holdings?
Embecta is more profitable, with an operating margin of 17.9% against -14.7%.
More: Embecta earnings · how Embecta makes money · iRhythm Holdings earnings · how iRhythm Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 7, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.