vs
Side-by-side financial comparison of Blue Bird Corp (BLBD) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
Blue Bird Corp is the larger business by last-quarter revenue ($333.1M vs $173.1M, roughly 1.9× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 6.1%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $31.1M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -1.9%).
The Blue Bird Corporation is an American bus manufacturer. Headquartered in Fort Valley, Georgia, the company was best known for its production of school buses. The company has also manufactured a wide variety of other bus types, including transit buses, motorhomes, and specialty vehicles such as mobile libraries and mobile police command centers.
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.
BLBD vs VRNS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $333.1M | $173.1M |
| Net Profit | $30.8M | — |
| Gross Margin | 21.4% | 76.0% |
| Operating Margin | 11.3% | -1.7% |
| Net Margin | 9.2% | — |
| Revenue YoY | 6.1% | 26.9% |
| Net Profit YoY | 7.1% | — |
| EPS (diluted) | $0.94 | — |
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 | $333.1M | $173.4M | ||
| Q3 25 | $409.4M | $161.6M | ||
| Q2 25 | $398.0M | $152.2M | ||
| Q1 25 | $358.9M | $136.4M | ||
| Q4 24 | $313.9M | $158.5M | ||
| Q3 24 | $350.2M | $148.1M | ||
| Q2 24 | $333.4M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $30.8M | $-27.8M | ||
| Q3 25 | $36.5M | $-29.9M | ||
| Q2 25 | $36.5M | $-35.8M | ||
| Q1 25 | $26.0M | $-35.8M | ||
| Q4 24 | $28.7M | $-13.0M | ||
| Q3 24 | $24.7M | $-18.3M | ||
| Q2 24 | $28.7M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 21.4% | 78.9% | ||
| Q3 25 | 21.1% | 78.2% | ||
| Q2 25 | 21.6% | 79.5% | ||
| Q1 25 | 19.7% | 78.7% | ||
| Q4 24 | 19.2% | 83.6% | ||
| Q3 24 | 17.0% | 83.8% | ||
| Q2 24 | 20.8% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | 11.3% | -17.5% | ||
| Q3 25 | 12.3% | -22.2% | ||
| Q2 25 | 12.6% | -24.0% | ||
| Q1 25 | 9.4% | -32.1% | ||
| Q4 24 | 10.5% | -11.1% | ||
| Q3 24 | 7.3% | -16.0% | ||
| Q2 24 | 11.9% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.2% | -16.0% | ||
| Q3 25 | 8.9% | -18.5% | ||
| Q2 25 | 9.2% | -23.5% | ||
| Q1 25 | 7.3% | -26.2% | ||
| Q4 24 | 9.2% | -8.2% | ||
| Q3 24 | 7.0% | -12.4% | ||
| Q2 24 | 8.6% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.94 | $-0.23 | ||
| Q3 25 | $1.11 | $-0.26 | ||
| Q2 25 | $1.12 | $-0.32 | ||
| Q1 25 | $0.79 | $-0.32 | ||
| Q4 24 | $0.86 | $-0.12 | ||
| Q3 24 | $0.71 | $-0.16 | ||
| Q2 24 | $0.85 | $-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 | $241.7M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $271.4M | $453.5M |
| Total Assets | $642.3M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $241.7M | $883.7M | ||
| Q3 25 | $229.3M | $671.3M | ||
| Q2 25 | $173.1M | $770.9M | ||
| Q1 25 | $130.7M | $567.6M | ||
| Q4 24 | $136.1M | $529.0M | ||
| Q3 24 | $127.7M | $844.8M | ||
| Q2 24 | $88.4M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $271.4M | $598.7M | ||
| Q3 25 | $255.4M | $604.8M | ||
| Q2 25 | $221.8M | $341.5M | ||
| Q1 25 | $190.4M | $367.7M | ||
| Q4 24 | $179.7M | $455.7M | ||
| Q3 24 | $159.6M | $428.6M | ||
| Q2 24 | $137.3M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $642.3M | $1.8B | ||
| Q3 25 | $625.3M | $1.7B | ||
| Q2 25 | $575.5M | $1.6B | ||
| Q1 25 | $543.7M | $1.6B | ||
| Q4 24 | $535.2M | $1.7B | ||
| Q3 24 | $524.9M | $1.5B | ||
| Q2 24 | $468.1M | $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 | $36.6M | $55.0M |
| Free Cash FlowOCF − Capex | $31.1M | $49.0M |
| FCF MarginFCF / Revenue | 9.3% | 28.3% |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | 1.19× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.6M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $36.6M | $24.7M | ||
| Q3 25 | $65.1M | $33.4M | ||
| Q2 25 | $56.9M | $21.3M | ||
| Q1 25 | $27.8M | $68.0M | ||
| Q4 24 | $26.4M | $24.3M | ||
| Q3 24 | $55.4M | $22.5M | ||
| Q2 24 | $989.0K | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $31.1M | $20.7M | ||
| Q3 25 | $60.5M | $30.4M | ||
| Q2 25 | $52.3M | $18.0M | ||
| Q1 25 | $18.7M | $65.7M | ||
| Q4 24 | $21.8M | $19.9M | ||
| Q3 24 | $50.2M | $21.3M | ||
| Q2 24 | $-3.5M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 9.3% | 12.0% | ||
| Q3 25 | 14.8% | 18.8% | ||
| Q2 25 | 13.1% | 11.8% | ||
| Q1 25 | 5.2% | 48.1% | ||
| Q4 24 | 7.0% | 12.6% | ||
| Q3 24 | 14.3% | 14.4% | ||
| Q2 24 | -1.1% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | 2.3% | ||
| Q3 25 | 1.1% | 1.8% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | 2.5% | 1.7% | ||
| Q4 24 | 1.5% | 2.7% | ||
| Q3 24 | 1.5% | 0.8% | ||
| Q2 24 | 1.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.78× | — | ||
| Q2 25 | 1.56× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 0.92× | — | ||
| Q3 24 | 2.24× | — | ||
| Q2 24 | 0.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLBD
| Alternative Fuel Buses | $151.4M | 45% |
| Diesel Buses | $144.9M | 43% |
| Parts | $24.8M | 7% |
| Other | $12.1M | 4% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
