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Side-by-side financial comparison of DENNY'S Corp (DENN) 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 $113.2M, roughly 1.5× DENNY'S Corp). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 1.3%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $16.0M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -0.9%).
Denny's is an American table service diner-style restaurant chain. It operates over 1,400 restaurants in the United States, Canada, México, Puerto Rico, and several other international locations.
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.
DENN vs VRNS — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $113.2M | $173.1M |
| Net Profit | $632.0K | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 9.2% | -1.7% |
| Net Margin | 0.6% | — |
| Revenue YoY | 1.3% | 26.9% |
| Net Profit YoY | -90.3% | — |
| EPS (diluted) | $0.01 | — |
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 | — | $173.4M | ||
| Q3 25 | $113.2M | $161.6M | ||
| Q2 25 | $117.7M | $152.2M | ||
| Q1 25 | $111.6M | $136.4M | ||
| Q4 24 | $114.7M | $158.5M | ||
| Q3 24 | $111.8M | $148.1M | ||
| Q2 24 | $115.9M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $632.0K | $-29.9M | ||
| Q2 25 | $2.5M | $-35.8M | ||
| Q1 25 | $326.0K | $-35.8M | ||
| Q4 24 | $6.8M | $-13.0M | ||
| Q3 24 | $6.5M | $-18.3M | ||
| Q2 24 | $3.6M | $-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 | 9.2% | -22.2% | ||
| Q2 25 | 7.3% | -24.0% | ||
| Q1 25 | 4.7% | -32.1% | ||
| Q4 24 | 12.6% | -11.1% | ||
| Q3 24 | 10.5% | -16.0% | ||
| Q2 24 | 7.9% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | 0.6% | -18.5% | ||
| Q2 25 | 2.1% | -23.5% | ||
| Q1 25 | 0.3% | -26.2% | ||
| Q4 24 | 5.9% | -8.2% | ||
| Q3 24 | 5.8% | -12.4% | ||
| Q2 24 | 3.1% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.23 | ||
| Q3 25 | $0.01 | $-0.26 | ||
| Q2 25 | $0.05 | $-0.32 | ||
| Q1 25 | $0.01 | $-0.32 | ||
| Q4 24 | $0.13 | $-0.12 | ||
| Q3 24 | $0.12 | $-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 | — | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-32.7M | $453.5M |
| Total Assets | $502.9M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | — | $883.7M | ||
| Q3 25 | — | $671.3M | ||
| Q2 25 | — | $770.9M | ||
| Q1 25 | $1.1M | $567.6M | ||
| Q4 24 | $100.0K | $529.0M | ||
| Q3 24 | $2.9M | $844.8M | ||
| Q2 24 | $2.8M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $270.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | — | $598.7M | ||
| Q3 25 | $-32.7M | $604.8M | ||
| Q2 25 | $-34.6M | $341.5M | ||
| Q1 25 | $-36.4M | $367.7M | ||
| Q4 24 | $-34.0M | $455.7M | ||
| Q3 24 | $-54.5M | $428.6M | ||
| Q2 24 | $-53.2M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $502.9M | $1.7B | ||
| Q2 25 | $491.1M | $1.6B | ||
| Q1 25 | $488.1M | $1.6B | ||
| Q4 24 | $496.3M | $1.7B | ||
| Q3 24 | $461.6M | $1.5B | ||
| Q2 24 | $459.9M | $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 | $16.0M | $55.0M |
| Free Cash FlowOCF − Capex | $16.0M | $49.0M |
| FCF MarginFCF / Revenue | 14.1% | 28.3% |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | 25.28× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | — | $24.7M | ||
| Q3 25 | $16.0M | $33.4M | ||
| Q2 25 | $9.4M | $21.3M | ||
| Q1 25 | $5.0M | $68.0M | ||
| Q4 24 | $8.5M | $24.3M | ||
| Q3 24 | $6.6M | $22.5M | ||
| Q2 24 | $14.2M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | $16.0M | $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 | 14.1% | 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 | 0.0% | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 0.0% | 0.8% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 25.28× | — | ||
| Q2 25 | 3.79× | — | ||
| Q1 25 | 15.38× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 3.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DENN
| Franchisor Owned Outlet | $57.4M | 51% |
| Royalty | $27.7M | 25% |
| Advertising | $18.6M | 16% |
| Occupancy | $7.7M | 7% |
| Initial And Other Fees | $1.7M | 1% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
