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Side-by-side financial comparison of Arlo Technologies, Inc. (ARLO) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
VARONIS SYSTEMS INC is the larger business by last-quarter revenue ($173.1M vs $141.3M, roughly 1.2× Arlo Technologies, Inc.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 16.2%). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 6.7%).
Arlo Technologies is an American company that makes wireless surveillance cameras. Prior to an initial public offering (IPO) on the New York Stock Exchange in August 2018, Arlo was a brand of such products by Netgear, which retained majority control after the IPO.
Varonis Systems, Inc. is a software company based in Miami, Florida with R&D offices in Herzliya, Israel. The company’s Data Security Platform analyzes data and data activity using the insights to identify data exposure risks stemming from access permissions and software-as-a-service (SaaS) app configurations, triggering automated remediation capabilities in response.
ARLO vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $173.1M |
| Net Profit | $5.8M | — |
| Gross Margin | 46.4% | 76.0% |
| Operating Margin | 3.3% | — |
| Net Margin | 4.1% | — |
| Revenue YoY | 16.2% | 26.9% |
| Net Profit YoY | 218.6% | — |
| EPS (diluted) | $0.06 | $115788061.00 |
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.
| Q1 26 | — | $173.1M | ||
| Q4 25 | $141.3M | $173.4M | ||
| Q3 25 | $139.5M | $161.6M | ||
| Q2 25 | $129.4M | $152.2M | ||
| Q1 25 | $119.1M | $136.4M | ||
| Q4 24 | $121.6M | $158.5M | ||
| Q3 24 | $137.7M | $148.1M | ||
| Q2 24 | $127.4M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $5.8M | $-27.8M | ||
| Q3 25 | $6.9M | $-29.9M | ||
| Q2 25 | $3.1M | $-35.8M | ||
| Q1 25 | $-835.0K | $-35.8M | ||
| Q4 24 | $-4.9M | $-13.0M | ||
| Q3 24 | $-4.4M | $-18.3M | ||
| Q2 24 | $-11.6M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 46.4% | 78.9% | ||
| Q3 25 | 40.5% | 78.2% | ||
| Q2 25 | 44.9% | 79.5% | ||
| Q1 25 | 44.3% | 78.7% | ||
| Q4 24 | 36.9% | 83.6% | ||
| Q3 24 | 35.2% | 83.8% | ||
| Q2 24 | 36.8% | 82.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | -17.5% | ||
| Q3 25 | 0.6% | -22.2% | ||
| Q2 25 | 1.5% | -24.0% | ||
| Q1 25 | -1.2% | -32.1% | ||
| Q4 24 | -5.0% | -11.1% | ||
| Q3 24 | -4.0% | -16.0% | ||
| Q2 24 | -10.0% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | -16.0% | ||
| Q3 25 | 4.9% | -18.5% | ||
| Q2 25 | 2.4% | -23.5% | ||
| Q1 25 | -0.7% | -26.2% | ||
| Q4 24 | -4.0% | -8.2% | ||
| Q3 24 | -3.2% | -12.4% | ||
| Q2 24 | -9.1% | -18.4% |
| Q1 26 | — | $115788061.00 | ||
| Q4 25 | $0.06 | $-0.23 | ||
| Q3 25 | $0.06 | $-0.26 | ||
| Q2 25 | $0.03 | $-0.32 | ||
| Q1 25 | $-0.01 | $-0.32 | ||
| Q4 24 | $-0.05 | $-0.12 | ||
| Q3 24 | $-0.04 | $-0.16 | ||
| Q2 24 | $-0.12 | $-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 | $146.4M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $127.8M | $453.5M |
| Total Assets | $310.5M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $146.4M | $883.7M | ||
| Q3 25 | $86.0M | $671.3M | ||
| Q2 25 | $71.2M | $770.9M | ||
| Q1 25 | $84.0M | $567.6M | ||
| Q4 24 | $82.0M | $529.0M | ||
| Q3 24 | $77.0M | $844.8M | ||
| Q2 24 | $62.9M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $127.8M | $598.7M | ||
| Q3 25 | $129.2M | $604.8M | ||
| Q2 25 | $118.3M | $341.5M | ||
| Q1 25 | $103.4M | $367.7M | ||
| Q4 24 | $100.9M | $455.7M | ||
| Q3 24 | $96.9M | $428.6M | ||
| Q2 24 | $99.3M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $310.5M | $1.8B | ||
| Q3 25 | $350.9M | $1.7B | ||
| Q2 25 | $319.7M | $1.6B | ||
| Q1 25 | $296.6M | $1.6B | ||
| Q4 24 | $298.4M | $1.7B | ||
| Q3 24 | $312.4M | $1.5B | ||
| Q2 24 | $295.8M | $1.1B |
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 | $19.8M | $55.0M |
| Free Cash FlowOCF − Capex | — | $49.0M |
| FCF MarginFCF / Revenue | — | 28.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.43× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $19.8M | $24.7M | ||
| Q3 25 | $19.2M | $33.4M | ||
| Q2 25 | $8.8M | $21.3M | ||
| Q1 25 | $30.9M | $68.0M | ||
| Q4 24 | $6.7M | $24.3M | ||
| Q3 24 | $18.4M | $22.5M | ||
| Q2 24 | $6.5M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $30.4M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | $28.1M | $65.7M | ||
| Q4 24 | $5.6M | $19.9M | ||
| Q3 24 | $17.4M | $21.3M | ||
| Q2 24 | $6.2M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 18.8% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | 23.6% | 48.1% | ||
| Q4 24 | 4.6% | 12.6% | ||
| Q3 24 | 12.6% | 14.4% | ||
| Q2 24 | 4.8% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | 2.4% | 1.7% | ||
| Q4 24 | 0.9% | 2.7% | ||
| Q3 24 | 0.7% | 0.8% | ||
| Q2 24 | 0.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.43× | — | ||
| Q3 25 | 2.79× | — | ||
| Q2 25 | 2.83× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARLO
| Subscriptions And Services | $89.4M | 63% |
| Products | $51.9M | 37% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
