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Side-by-side financial comparison of CareTrust REIT, Inc. (CTRE) 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 $134.9M, roughly 1.3× CareTrust REIT, Inc.). On growth, CareTrust REIT, Inc. posted the faster year-over-year revenue change (55.1% vs 26.9%). Over the past eight quarters, CareTrust REIT, Inc.'s revenue compounded faster (46.2% CAGR vs 15.2%).
CareTrust REIT, Inc.CTREEarnings & Financial Report
Target Healthcare REIT is a British property investment company which invests in healthcare properties and holds a large portfolio of care homes. It is structured as a real estate investment trust (REIT) and is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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.
CTRE vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.9M | $173.1M |
| Net Profit | $111.3M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | — | -1.7% |
| Net Margin | 82.5% | — |
| Revenue YoY | 55.1% | 26.9% |
| Net Profit YoY | 113.5% | — |
| EPS (diluted) | $0.52 | — |
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 | $134.9M | $173.4M | ||
| Q3 25 | $132.4M | $161.6M | ||
| Q2 25 | $112.5M | $152.2M | ||
| Q1 25 | $96.6M | $136.4M | ||
| Q4 24 | $86.9M | $158.5M | ||
| Q3 24 | $77.4M | $148.1M | ||
| Q2 24 | $68.9M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $111.3M | $-27.8M | ||
| Q3 25 | $74.9M | $-29.9M | ||
| Q2 25 | $68.5M | $-35.8M | ||
| Q1 25 | $65.8M | $-35.8M | ||
| Q4 24 | $52.1M | $-13.0M | ||
| Q3 24 | $33.4M | $-18.3M | ||
| Q2 24 | $10.8M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 78.7% | ||
| Q4 24 | — | 83.6% | ||
| Q3 24 | — | 83.8% | ||
| Q2 24 | — | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | — | -17.5% | ||
| Q3 25 | 58.1% | -22.2% | ||
| Q2 25 | 61.3% | -24.0% | ||
| Q1 25 | — | -32.1% | ||
| Q4 24 | — | -11.1% | ||
| Q3 24 | 43.0% | -16.0% | ||
| Q2 24 | 15.1% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 82.5% | -16.0% | ||
| Q3 25 | 56.6% | -18.5% | ||
| Q2 25 | 60.9% | -23.5% | ||
| Q1 25 | 68.1% | -26.2% | ||
| Q4 24 | 60.0% | -8.2% | ||
| Q3 24 | 43.2% | -12.4% | ||
| Q2 24 | 15.6% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.52 | $-0.23 | ||
| Q3 25 | $0.35 | $-0.26 | ||
| Q2 25 | $0.35 | $-0.32 | ||
| Q1 25 | $0.35 | $-0.32 | ||
| Q4 24 | $0.30 | $-0.12 | ||
| Q3 24 | $0.21 | $-0.16 | ||
| Q2 24 | $0.07 | $-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 | $198.0M | $179.3M |
| Total DebtLower is stronger | $894.2M | — |
| Stockholders' EquityBook value | $4.0B | $453.5M |
| Total Assets | $5.1B | $1.6B |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $198.0M | $883.7M | ||
| Q3 25 | $712.5M | $671.3M | ||
| Q2 25 | $306.1M | $770.9M | ||
| Q1 25 | $26.5M | $567.6M | ||
| Q4 24 | $213.8M | $529.0M | ||
| Q3 24 | $377.1M | $844.8M | ||
| Q2 24 | $495.1M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $894.2M | — | ||
| Q3 25 | $893.8M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $822.1M | — | ||
| Q4 24 | $396.9M | — | ||
| Q3 24 | $396.7M | — | ||
| Q2 24 | $671.1M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $4.0B | $598.7M | ||
| Q3 25 | $4.0B | $604.8M | ||
| Q2 25 | $3.3B | $341.5M | ||
| Q1 25 | $2.9B | $367.7M | ||
| Q4 24 | $2.9B | $455.7M | ||
| Q3 24 | $2.4B | $428.6M | ||
| Q2 24 | $1.9B | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $5.1B | $1.8B | ||
| Q3 25 | $5.1B | $1.7B | ||
| Q2 25 | $4.7B | $1.6B | ||
| Q1 25 | $3.9B | $1.6B | ||
| Q4 24 | $3.4B | $1.7B | ||
| Q3 24 | $2.9B | $1.5B | ||
| Q2 24 | $2.7B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.22× | — | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.16× | — | ||
| Q2 24 | 0.35× | — |
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 | $394.0M | $55.0M |
| Free Cash FlowOCF − Capex | — | $49.0M |
| FCF MarginFCF / Revenue | — | 28.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.54× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $394.0M | $24.7M | ||
| Q3 25 | $100.9M | $33.4M | ||
| Q2 25 | $100.8M | $21.3M | ||
| Q1 25 | $71.4M | $68.0M | ||
| Q4 24 | $244.3M | $24.3M | ||
| Q3 24 | $67.2M | $22.5M | ||
| Q2 24 | $53.0M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $30.4M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $65.7M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | — | $21.3M | ||
| Q2 24 | — | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 18.8% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 48.1% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.54× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 4.68× | — | ||
| Q3 24 | 2.01× | — | ||
| Q2 24 | 4.92× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTRE
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
