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Side-by-side financial comparison of ENNIS, INC. (EBF) 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 $100.2M, roughly 1.7× ENNIS, INC.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 0.4%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $15.7M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 1.4%).
ENNIS, INC. (ticker EBF) is a leading North American provider of printed business products and related services. Its offerings include custom business forms, pressure-sensitive labels, marketing collateral, promotional items, and branded packaging, serving clients across retail, healthcare, financial services, and small business 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.
EBF vs VRNS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $100.2M | $173.1M |
| Net Profit | $10.8M | — |
| Gross Margin | 31.9% | 76.0% |
| Operating Margin | 15.0% | -1.7% |
| Net Margin | 10.8% | — |
| Revenue YoY | 0.4% | 26.9% |
| Net Profit YoY | 6.1% | — |
| EPS (diluted) | $0.42 | — |
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 | $100.2M | $173.4M | ||
| Q3 25 | $98.7M | $161.6M | ||
| Q2 25 | $97.2M | $152.2M | ||
| Q1 25 | $92.7M | $136.4M | ||
| Q4 24 | $99.8M | $158.5M | ||
| Q3 24 | $99.0M | $148.1M | ||
| Q2 24 | $103.1M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $10.8M | $-27.8M | ||
| Q3 25 | $13.2M | $-29.9M | ||
| Q2 25 | $9.8M | $-35.8M | ||
| Q1 25 | $9.0M | $-35.8M | ||
| Q4 24 | $10.2M | $-13.0M | ||
| Q3 24 | $10.3M | $-18.3M | ||
| Q2 24 | $10.7M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 31.9% | 78.9% | ||
| Q3 25 | 30.5% | 78.2% | ||
| Q2 25 | 31.1% | 79.5% | ||
| Q1 25 | 29.5% | 78.7% | ||
| Q4 24 | 29.3% | 83.6% | ||
| Q3 24 | 30.1% | 83.8% | ||
| Q2 24 | 30.0% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | 15.0% | -17.5% | ||
| Q3 25 | 12.5% | -22.2% | ||
| Q2 25 | 13.7% | -24.0% | ||
| Q1 25 | 13.0% | -32.1% | ||
| Q4 24 | 13.1% | -11.1% | ||
| Q3 24 | 13.3% | -16.0% | ||
| Q2 24 | 13.3% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 10.8% | -16.0% | ||
| Q3 25 | 13.3% | -18.5% | ||
| Q2 25 | 10.1% | -23.5% | ||
| Q1 25 | 9.7% | -26.2% | ||
| Q4 24 | 10.2% | -8.2% | ||
| Q3 24 | 10.4% | -12.4% | ||
| Q2 24 | 10.4% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.42 | $-0.23 | ||
| Q3 25 | $0.51 | $-0.26 | ||
| Q2 25 | $0.38 | $-0.32 | ||
| Q1 25 | $0.34 | $-0.32 | ||
| Q4 24 | $0.39 | $-0.12 | ||
| Q3 24 | $0.40 | $-0.16 | ||
| Q2 24 | $0.41 | $-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 | $31.3M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $304.8M | $453.5M |
| Total Assets | $354.3M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $31.3M | $883.7M | ||
| Q3 25 | $31.9M | $671.3M | ||
| Q2 25 | $32.6M | $770.9M | ||
| Q1 25 | $72.5M | $567.6M | ||
| Q4 24 | $68.6M | $529.0M | ||
| Q3 24 | $122.6M | $844.8M | ||
| Q2 24 | $123.7M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $304.8M | $598.7M | ||
| Q3 25 | $305.4M | $604.8M | ||
| Q2 25 | $301.2M | $341.5M | ||
| Q1 25 | $302.0M | $367.7M | ||
| Q4 24 | $297.7M | $455.7M | ||
| Q3 24 | $358.4M | $428.6M | ||
| Q2 24 | $354.4M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $354.3M | $1.8B | ||
| Q3 25 | $361.8M | $1.7B | ||
| Q2 25 | $361.7M | $1.6B | ||
| Q1 25 | $348.9M | $1.6B | ||
| Q4 24 | $346.1M | $1.7B | ||
| Q3 24 | $406.8M | $1.5B | ||
| Q2 24 | $406.2M | $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 | $16.4M | $55.0M |
| Free Cash FlowOCF − Capex | $15.7M | $49.0M |
| FCF MarginFCF / Revenue | 15.7% | 28.3% |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 1.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.5M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $16.4M | $24.7M | ||
| Q3 25 | $10.5M | $33.4M | ||
| Q2 25 | $8.0M | $21.3M | ||
| Q1 25 | $12.8M | $68.0M | ||
| Q4 24 | $18.2M | $24.3M | ||
| Q3 24 | $11.8M | $22.5M | ||
| Q2 24 | $23.1M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $15.7M | $20.7M | ||
| Q3 25 | $9.0M | $30.4M | ||
| Q2 25 | $6.6M | $18.0M | ||
| Q1 25 | $11.1M | $65.7M | ||
| Q4 24 | $17.5M | $19.9M | ||
| Q3 24 | $10.7M | $21.3M | ||
| Q2 24 | $20.6M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 15.7% | 12.0% | ||
| Q3 25 | 9.2% | 18.8% | ||
| Q2 25 | 6.8% | 11.8% | ||
| Q1 25 | 12.0% | 48.1% | ||
| Q4 24 | 17.6% | 12.6% | ||
| Q3 24 | 10.8% | 14.4% | ||
| Q2 24 | 20.0% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 2.3% | ||
| Q3 25 | 1.4% | 1.8% | ||
| Q2 25 | 1.4% | 2.2% | ||
| Q1 25 | 1.8% | 1.7% | ||
| Q4 24 | 0.6% | 2.7% | ||
| Q3 24 | 1.1% | 0.8% | ||
| Q2 24 | 2.4% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.52× | — | ||
| Q3 25 | 0.80× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | 1.41× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 1.15× | — | ||
| Q2 24 | 2.16× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EBF
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
