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Side-by-side financial comparison of ASTRONICS CORP (ATRO) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
ASTRONICS CORP is the larger business by last-quarter revenue ($240.1M vs $173.1M, roughly 1.4× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 15.1%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $15.8M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 13.9%).
Astronics Corporation is an American aerospace electronics corporation founded in 1968, headquartered in East Aurora, New York. It is traded on NASDAQ as Nasdaq: ATRO. It is known for lighting and electronics integrations on military, commercial, and business aircraft and semiconductor test systems.
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.
ATRO vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $240.1M | $173.1M |
| Net Profit | — | — |
| Gross Margin | 33.3% | 76.0% |
| Operating Margin | 14.8% | — |
| Net Margin | — | — |
| Revenue YoY | 15.1% | 26.9% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.82 | $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 | $240.1M | $173.4M | ||
| Q3 25 | $211.4M | $161.6M | ||
| Q2 25 | $204.7M | $152.2M | ||
| Q1 25 | $205.9M | $136.4M | ||
| Q4 24 | $208.5M | $158.5M | ||
| Q3 24 | $203.7M | $148.1M | ||
| Q2 24 | $198.1M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $-11.1M | $-29.9M | ||
| Q2 25 | $1.3M | $-35.8M | ||
| Q1 25 | $9.5M | $-35.8M | ||
| Q4 24 | — | $-13.0M | ||
| Q3 24 | $-11.7M | $-18.3M | ||
| Q2 24 | $1.5M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 33.3% | 78.9% | ||
| Q3 25 | 30.5% | 78.2% | ||
| Q2 25 | 25.8% | 79.5% | ||
| Q1 25 | 29.5% | 78.7% | ||
| Q4 24 | 29.8% | 83.6% | ||
| Q3 24 | 27.1% | 83.8% | ||
| Q2 24 | 28.0% | 82.8% |
| Q1 26 | — | — | ||
| Q4 25 | 14.8% | -17.5% | ||
| Q3 25 | 10.9% | -22.2% | ||
| Q2 25 | 2.3% | -24.0% | ||
| Q1 25 | 6.4% | -32.1% | ||
| Q4 24 | 4.3% | -11.1% | ||
| Q3 24 | 4.1% | -16.0% | ||
| Q2 24 | 3.8% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | -5.2% | -18.5% | ||
| Q2 25 | 0.6% | -23.5% | ||
| Q1 25 | 4.6% | -26.2% | ||
| Q4 24 | — | -8.2% | ||
| Q3 24 | -5.8% | -12.4% | ||
| Q2 24 | 0.8% | -18.4% |
| Q1 26 | — | $115788061.00 | ||
| Q4 25 | $0.82 | $-0.23 | ||
| Q3 25 | $-0.31 | $-0.26 | ||
| Q2 25 | $0.04 | $-0.32 | ||
| Q1 25 | $0.26 | $-0.32 | ||
| Q4 24 | $-0.07 | $-0.12 | ||
| Q3 24 | $-0.34 | $-0.16 | ||
| Q2 24 | $0.04 | $-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 | $18.2M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $140.1M | $453.5M |
| Total Assets | $706.7M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $18.2M | $883.7M | ||
| Q3 25 | $13.5M | $671.3M | ||
| Q2 25 | $13.5M | $770.9M | ||
| Q1 25 | $24.8M | $567.6M | ||
| Q4 24 | $9.3M | $529.0M | ||
| Q3 24 | $5.2M | $844.8M | ||
| Q2 24 | $2.9M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $140.1M | $598.7M | ||
| Q3 25 | $108.9M | $604.8M | ||
| Q2 25 | $271.6M | $341.5M | ||
| Q1 25 | $266.8M | $367.7M | ||
| Q4 24 | $256.1M | $455.7M | ||
| Q3 24 | $249.2M | $428.6M | ||
| Q2 24 | $257.9M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $706.7M | $1.8B | ||
| Q3 25 | $682.2M | $1.7B | ||
| Q2 25 | $646.7M | $1.6B | ||
| Q1 25 | $662.2M | $1.6B | ||
| Q4 24 | $648.8M | $1.7B | ||
| Q3 24 | $651.6M | $1.5B | ||
| Q2 24 | $644.9M | $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 | $27.6M | $55.0M |
| Free Cash FlowOCF − Capex | $15.8M | $49.0M |
| FCF MarginFCF / Revenue | 6.6% | 28.3% |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.1M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $27.6M | $24.7M | ||
| Q3 25 | $34.2M | $33.4M | ||
| Q2 25 | $-7.6M | $21.3M | ||
| Q1 25 | $20.6M | $68.0M | ||
| Q4 24 | $26.4M | $24.3M | ||
| Q3 24 | $8.4M | $22.5M | ||
| Q2 24 | $-6.3M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $15.8M | $20.7M | ||
| Q3 25 | $21.0M | $30.4M | ||
| Q2 25 | $-12.2M | $18.0M | ||
| Q1 25 | $18.5M | $65.7M | ||
| Q4 24 | $23.2M | $19.9M | ||
| Q3 24 | $6.5M | $21.3M | ||
| Q2 24 | $-8.1M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 6.6% | 12.0% | ||
| Q3 25 | 9.9% | 18.8% | ||
| Q2 25 | -6.0% | 11.8% | ||
| Q1 25 | 9.0% | 48.1% | ||
| Q4 24 | 11.1% | 12.6% | ||
| Q3 24 | 3.2% | 14.4% | ||
| Q2 24 | -4.1% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 2.3% | ||
| Q3 25 | 6.2% | 1.8% | ||
| Q2 25 | 2.2% | 2.2% | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 1.5% | 2.7% | ||
| Q3 24 | 0.9% | 0.8% | ||
| Q2 24 | 0.9% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -5.81× | — | ||
| Q1 25 | 2.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.08× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATRO
| Product Line Electrical Power And Motion | $113.8M | 47% |
| Product Line Avionics | $32.0M | 13% |
| Military Aircraft | $28.0M | 12% |
| General Aviation | $22.3M | 9% |
| Government And Defense | $20.5M | 9% |
| Product Line Systems Certification | $13.2M | 6% |
| Product Line Structures | $3.7M | 2% |
| Product Line Other | $2.3M | 1% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
