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Side-by-side financial comparison of COLLEGIUM PHARMACEUTICAL, INC (COLL) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
COLLEGIUM PHARMACEUTICAL, INC is the larger business by last-quarter revenue ($205.4M vs $173.1M, roughly 1.2× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 12.9%). COLLEGIUM PHARMACEUTICAL, INC produced more free cash flow last quarter ($122.4M vs $49.0M). Over the past eight quarters, COLLEGIUM PHARMACEUTICAL, INC's revenue compounded faster (19.1% CAGR vs 15.2%).
Collegium Pharmaceutical, Inc. is a specialty pharmaceutical firm focused on developing and commercializing innovative, abuse-deterrent pain management therapies. Operating primarily in the U.S. market, it offers extended-release analgesics for chronic pain patients, serving providers across primary and specialty care segments.
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.
COLL vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $205.4M | $173.1M |
| Net Profit | $17.0M | — |
| Gross Margin | 62.5% | 76.0% |
| Operating Margin | 29.6% | -1.7% |
| Net Margin | 8.3% | — |
| Revenue YoY | 12.9% | 26.9% |
| Net Profit YoY | 35.3% | — |
| EPS (diluted) | $0.48 | — |
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 | $205.4M | $173.4M | ||
| Q3 25 | $209.4M | $161.6M | ||
| Q2 25 | $188.0M | $152.2M | ||
| Q1 25 | $177.8M | $136.4M | ||
| Q4 24 | $181.9M | $158.5M | ||
| Q3 24 | $159.3M | $148.1M | ||
| Q2 24 | $145.3M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $17.0M | $-27.8M | ||
| Q3 25 | $31.5M | $-29.9M | ||
| Q2 25 | $12.0M | $-35.8M | ||
| Q1 25 | $2.4M | $-35.8M | ||
| Q4 24 | $12.5M | $-13.0M | ||
| Q3 24 | $9.3M | $-18.3M | ||
| Q2 24 | $19.6M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 62.5% | 78.9% | ||
| Q3 25 | 61.7% | 78.2% | ||
| Q2 25 | 57.7% | 79.5% | ||
| Q1 25 | 54.8% | 78.7% | ||
| Q4 24 | 54.0% | 83.6% | ||
| Q3 24 | 60.8% | 83.8% | ||
| Q2 24 | 62.5% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | 29.6% | -17.5% | ||
| Q3 25 | 29.7% | -22.2% | ||
| Q2 25 | 18.7% | -24.0% | ||
| Q1 25 | 12.2% | -32.1% | ||
| Q4 24 | 20.9% | -11.1% | ||
| Q3 24 | 21.9% | -16.0% | ||
| Q2 24 | 32.7% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 8.3% | -16.0% | ||
| Q3 25 | 15.0% | -18.5% | ||
| Q2 25 | 6.4% | -23.5% | ||
| Q1 25 | 1.4% | -26.2% | ||
| Q4 24 | 6.9% | -8.2% | ||
| Q3 24 | 5.9% | -12.4% | ||
| Q2 24 | 13.5% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.48 | $-0.23 | ||
| Q3 25 | $0.84 | $-0.26 | ||
| Q2 25 | $0.34 | $-0.32 | ||
| Q1 25 | $0.07 | $-0.32 | ||
| Q4 24 | $0.36 | $-0.12 | ||
| Q3 24 | $0.27 | $-0.16 | ||
| Q2 24 | $0.52 | $-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 | $386.7M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $301.7M | $453.5M |
| Total Assets | $1.7B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $386.7M | $883.7M | ||
| Q3 25 | $285.9M | $671.3M | ||
| Q2 25 | $222.2M | $770.9M | ||
| Q1 25 | $197.8M | $567.6M | ||
| Q4 24 | $162.8M | $529.0M | ||
| Q3 24 | $120.0M | $844.8M | ||
| Q2 24 | $271.6M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $301.7M | $598.7M | ||
| Q3 25 | $274.8M | $604.8M | ||
| Q2 25 | $232.2M | $341.5M | ||
| Q1 25 | $234.4M | $367.7M | ||
| Q4 24 | $228.8M | $455.7M | ||
| Q3 24 | $234.3M | $428.6M | ||
| Q2 24 | $216.6M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.6B | $1.6B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.7B | $1.7B | ||
| Q3 24 | $1.6B | $1.5B | ||
| Q2 24 | $1.1B | $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 | $123.0M | $55.0M |
| Free Cash FlowOCF − Capex | $122.4M | $49.0M |
| FCF MarginFCF / Revenue | 59.6% | 28.3% |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 7.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $327.6M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $123.0M | $24.7M | ||
| Q3 25 | $78.4M | $33.4M | ||
| Q2 25 | $72.4M | $21.3M | ||
| Q1 25 | $55.4M | $68.0M | ||
| Q4 24 | $84.6M | $24.3M | ||
| Q3 24 | $-9.0M | $22.5M | ||
| Q2 24 | $67.4M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $122.4M | $20.7M | ||
| Q3 25 | $78.3M | $30.4M | ||
| Q2 25 | $72.4M | $18.0M | ||
| Q1 25 | $54.6M | $65.7M | ||
| Q4 24 | $84.1M | $19.9M | ||
| Q3 24 | $-9.2M | $21.3M | ||
| Q2 24 | $67.1M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 59.6% | 12.0% | ||
| Q3 25 | 37.4% | 18.8% | ||
| Q2 25 | 38.5% | 11.8% | ||
| Q1 25 | 30.7% | 48.1% | ||
| Q4 24 | 46.2% | 12.6% | ||
| Q3 24 | -5.8% | 14.4% | ||
| Q2 24 | 46.2% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 2.3% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.0% | 2.2% | ||
| Q1 25 | 0.4% | 1.7% | ||
| Q4 24 | 0.3% | 2.7% | ||
| Q3 24 | 0.2% | 0.8% | ||
| Q2 24 | 0.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 7.25× | — | ||
| Q3 25 | 2.49× | — | ||
| Q2 25 | 6.05× | — | ||
| Q1 25 | 22.92× | — | ||
| Q4 24 | 6.75× | — | ||
| Q3 24 | -0.96× | — | ||
| Q2 24 | 3.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COLL
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
