vs
Side-by-side financial comparison of DMC Global Inc. (BOOM) 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 $143.5M, roughly 1.2× DMC Global Inc.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -5.8%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $9.6M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -7.3%).
DMC Mining Services is a mining services contractor founded in 1980 operating in Canada, the United States, Chile, and Mongolia
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.
BOOM vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $173.1M |
| Net Profit | $-11.2M | — |
| Gross Margin | 17.1% | 76.0% |
| Operating Margin | -7.8% | -1.7% |
| Net Margin | -7.8% | — |
| Revenue YoY | -5.8% | 26.9% |
| Net Profit YoY | -3871.6% | — |
| EPS (diluted) | $-0.60 | — |
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 | $143.5M | $173.4M | ||
| Q3 25 | $151.5M | $161.6M | ||
| Q2 25 | $155.5M | $152.2M | ||
| Q1 25 | $159.3M | $136.4M | ||
| Q4 24 | $152.4M | $158.5M | ||
| Q3 24 | $152.4M | $148.1M | ||
| Q2 24 | $171.2M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-11.2M | $-27.8M | ||
| Q3 25 | $-3.1M | $-29.9M | ||
| Q2 25 | $116.0K | $-35.8M | ||
| Q1 25 | $677.0K | $-35.8M | ||
| Q4 24 | $296.0K | $-13.0M | ||
| Q3 24 | $-101.3M | $-18.3M | ||
| Q2 24 | $4.0M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 17.1% | 78.9% | ||
| Q3 25 | 21.7% | 78.2% | ||
| Q2 25 | 23.6% | 79.5% | ||
| Q1 25 | 25.9% | 78.7% | ||
| Q4 24 | 20.8% | 83.6% | ||
| Q3 24 | 19.8% | 83.8% | ||
| Q2 24 | 27.1% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | -7.8% | -17.5% | ||
| Q3 25 | 0.4% | -22.2% | ||
| Q2 25 | 2.5% | -24.0% | ||
| Q1 25 | 4.1% | -32.1% | ||
| Q4 24 | -0.5% | -11.1% | ||
| Q3 24 | -97.7% | -16.0% | ||
| Q2 24 | 6.8% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -7.8% | -16.0% | ||
| Q3 25 | -2.0% | -18.5% | ||
| Q2 25 | 0.1% | -23.5% | ||
| Q1 25 | 0.4% | -26.2% | ||
| Q4 24 | 0.2% | -8.2% | ||
| Q3 24 | -66.5% | -12.4% | ||
| Q2 24 | 2.3% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.60 | $-0.23 | ||
| Q3 25 | $-0.10 | $-0.26 | ||
| Q2 25 | $-0.24 | $-0.32 | ||
| Q1 25 | $0.04 | $-0.32 | ||
| Q4 24 | $-0.18 | $-0.12 | ||
| Q3 24 | $-8.27 | $-0.16 | ||
| Q2 24 | $0.24 | $-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 | $31.9M | $179.3M |
| Total DebtLower is stronger | $50.6M | — |
| Stockholders' EquityBook value | $242.1M | $453.5M |
| Total Assets | $635.8M | $1.6B |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $31.9M | $883.7M | ||
| Q3 25 | $26.4M | $671.3M | ||
| Q2 25 | $12.4M | $770.9M | ||
| Q1 25 | $14.7M | $567.6M | ||
| Q4 24 | $14.3M | $529.0M | ||
| Q3 24 | $14.5M | $844.8M | ||
| Q2 24 | $14.6M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $50.6M | — | ||
| Q3 25 | $56.5M | — | ||
| Q2 25 | $58.7M | — | ||
| Q1 25 | $72.4M | — | ||
| Q4 24 | $70.8M | — | ||
| Q3 24 | $74.2M | — | ||
| Q2 24 | $84.1M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $242.1M | $598.7M | ||
| Q3 25 | $253.0M | $604.8M | ||
| Q2 25 | $253.9M | $341.5M | ||
| Q1 25 | $253.9M | $367.7M | ||
| Q4 24 | $251.0M | $455.7M | ||
| Q3 24 | $256.5M | $428.6M | ||
| Q2 24 | $416.0M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $635.8M | $1.8B | ||
| Q3 25 | $644.1M | $1.7B | ||
| Q2 25 | $645.0M | $1.6B | ||
| Q1 25 | $670.6M | $1.6B | ||
| Q4 24 | $671.3M | $1.7B | ||
| Q3 24 | $702.0M | $1.5B | ||
| Q2 24 | $869.5M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.21× | — | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.20× | — |
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 | $15.2M | $55.0M |
| Free Cash FlowOCF − Capex | $9.6M | $49.0M |
| FCF MarginFCF / Revenue | 6.7% | 28.3% |
| Capex IntensityCapex / Revenue | 3.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $37.0M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $15.2M | $24.7M | ||
| Q3 25 | $18.6M | $33.4M | ||
| Q2 25 | $15.2M | $21.3M | ||
| Q1 25 | $4.5M | $68.0M | ||
| Q4 24 | $11.8M | $24.3M | ||
| Q3 24 | $19.0M | $22.5M | ||
| Q2 24 | $2.3M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $9.6M | $20.7M | ||
| Q3 25 | $14.4M | $30.4M | ||
| Q2 25 | $12.3M | $18.0M | ||
| Q1 25 | $709.0K | $65.7M | ||
| Q4 24 | $6.1M | $19.9M | ||
| Q3 24 | $12.9M | $21.3M | ||
| Q2 24 | $-204.0K | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 6.7% | 12.0% | ||
| Q3 25 | 9.5% | 18.8% | ||
| Q2 25 | 7.9% | 11.8% | ||
| Q1 25 | 0.4% | 48.1% | ||
| Q4 24 | 4.0% | 12.6% | ||
| Q3 24 | 8.5% | 14.4% | ||
| Q2 24 | -0.1% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 2.3% | ||
| Q3 25 | 2.8% | 1.8% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 2.4% | 1.7% | ||
| Q4 24 | 3.7% | 2.7% | ||
| Q3 24 | 4.0% | 0.8% | ||
| Q2 24 | 1.5% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 131.43× | — | ||
| Q1 25 | 6.63× | — | ||
| Q4 24 | 39.90× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.58× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOOM
| Dyna Energetics Segment | $68.9M | 48% |
| Other | $57.0M | 40% |
| Nobel Clad Segment | $17.7M | 12% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
