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Side-by-side financial comparison of Douglas Elliman Inc. (DOUG) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
Douglas Elliman Inc. is the larger business by last-quarter revenue ($245.4M vs $173.1M, roughly 1.4× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 0.9%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-14.7M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 10.7%).
Douglas Elliman Inc. is a leading U.S.-based residential real estate brokerage firm. It offers luxury property sales, rentals, property management, and advisory solutions, serving high-net-worth clients across key metro markets including New York, California, Florida, and Texas.
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.
DOUG vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $245.4M | $173.1M |
| Net Profit | $68.6M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 27.3% | -1.7% |
| Net Margin | 27.9% | — |
| Revenue YoY | 0.9% | 26.9% |
| Net Profit YoY | 1243.4% | — |
| EPS (diluted) | $0.80 | — |
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 | $245.4M | $173.4M | ||
| Q3 25 | $262.8M | $161.6M | ||
| Q2 25 | $271.4M | $152.2M | ||
| Q1 25 | $253.4M | $136.4M | ||
| Q4 24 | $243.3M | $158.5M | ||
| Q3 24 | $266.3M | $148.1M | ||
| Q2 24 | $285.8M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $68.6M | $-27.8M | ||
| Q3 25 | $-24.7M | $-29.9M | ||
| Q2 25 | $-22.7M | $-35.8M | ||
| Q1 25 | $-6.0M | $-35.8M | ||
| Q4 24 | $-6.0M | $-13.0M | ||
| Q3 24 | $-27.2M | $-18.3M | ||
| Q2 24 | $-1.7M | $-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 | 27.3% | -17.5% | ||
| Q3 25 | -4.1% | -22.2% | ||
| Q2 25 | -2.0% | -24.0% | ||
| Q1 25 | -2.1% | -32.1% | ||
| Q4 24 | -6.7% | -11.1% | ||
| Q3 24 | -2.8% | -16.0% | ||
| Q2 24 | -1.3% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 27.9% | -16.0% | ||
| Q3 25 | -9.4% | -18.5% | ||
| Q2 25 | -8.4% | -23.5% | ||
| Q1 25 | -2.4% | -26.2% | ||
| Q4 24 | -2.5% | -8.2% | ||
| Q3 24 | -10.2% | -12.4% | ||
| Q2 24 | -0.6% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.80 | $-0.23 | ||
| Q3 25 | $-0.29 | $-0.26 | ||
| Q2 25 | $-0.27 | $-0.32 | ||
| Q1 25 | $-0.07 | $-0.32 | ||
| Q4 24 | $-0.06 | $-0.12 | ||
| Q3 24 | $-0.33 | $-0.16 | ||
| Q2 24 | $-0.02 | $-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 | $115.5M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $183.9M | $453.5M |
| Total Assets | $444.4M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $115.5M | $883.7M | ||
| Q3 25 | $143.0M | $671.3M | ||
| Q2 25 | $136.3M | $770.9M | ||
| Q1 25 | $136.8M | $567.6M | ||
| Q4 24 | $145.5M | $529.0M | ||
| Q3 24 | $151.4M | $844.8M | ||
| Q2 24 | $92.9M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $183.9M | $598.7M | ||
| Q3 25 | $115.1M | $604.8M | ||
| Q2 25 | $137.6M | $341.5M | ||
| Q1 25 | $158.2M | $367.7M | ||
| Q4 24 | $162.2M | $455.7M | ||
| Q3 24 | $173.6M | $428.6M | ||
| Q2 24 | $196.9M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $444.4M | $1.8B | ||
| Q3 25 | $480.6M | $1.7B | ||
| Q2 25 | $489.0M | $1.6B | ||
| Q1 25 | $493.9M | $1.6B | ||
| Q4 24 | $493.9M | $1.7B | ||
| Q3 24 | $502.7M | $1.5B | ||
| Q2 24 | $463.9M | $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 | $-14.4M | $55.0M |
| Free Cash FlowOCF − Capex | $-14.7M | $49.0M |
| FCF MarginFCF / Revenue | -6.0% | 28.3% |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | -0.21× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-17.2M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-14.4M | $24.7M | ||
| Q3 25 | $5.5M | $33.4M | ||
| Q2 25 | $642.0K | $21.3M | ||
| Q1 25 | $-5.6M | $68.0M | ||
| Q4 24 | $-9.0M | $24.3M | ||
| Q3 24 | $9.0M | $22.5M | ||
| Q2 24 | $1.3M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-14.7M | $20.7M | ||
| Q3 25 | $4.7M | $30.4M | ||
| Q2 25 | $-575.0K | $18.0M | ||
| Q1 25 | $-6.7M | $65.7M | ||
| Q4 24 | $-10.2M | $19.9M | ||
| Q3 24 | $7.7M | $21.3M | ||
| Q2 24 | $432.0K | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -6.0% | 12.0% | ||
| Q3 25 | 1.8% | 18.8% | ||
| Q2 25 | -0.2% | 11.8% | ||
| Q1 25 | -2.6% | 48.1% | ||
| Q4 24 | -4.2% | 12.6% | ||
| Q3 24 | 2.9% | 14.4% | ||
| Q2 24 | 0.2% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.3% | ||
| Q3 25 | 0.3% | 1.8% | ||
| Q2 25 | 0.4% | 2.2% | ||
| Q1 25 | 0.4% | 1.7% | ||
| Q4 24 | 0.5% | 2.7% | ||
| Q3 24 | 0.5% | 0.8% | ||
| Q2 24 | 0.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | -0.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
