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Side-by-side financial comparison of GoPro, Inc. (GPRO) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
GoPro, Inc. is the larger business by last-quarter revenue ($201.7M 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 0.4%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $15.0M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 13.9%).
GoPro, Inc. is an American technology company founded in 2002 by Nick Woodman. It manufactures action cameras and develops its own mobile apps and video-editing software. Founded as Woodman Labs, Inc, the company is based in San Mateo, California.
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.
GPRO vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $201.7M | $173.1M |
| Net Profit | — | — |
| Gross Margin | 31.8% | 76.0% |
| Operating Margin | -4.1% | -1.7% |
| Net Margin | — | — |
| Revenue YoY | 0.4% | 26.9% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.06 | — |
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 | $201.7M | $173.4M | ||
| Q3 25 | $162.9M | $161.6M | ||
| Q2 25 | $152.6M | $152.2M | ||
| Q1 25 | $134.3M | $136.4M | ||
| Q4 24 | $200.9M | $158.5M | ||
| Q3 24 | $258.9M | $148.1M | ||
| Q2 24 | $186.2M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $-21.3M | $-29.9M | ||
| Q2 25 | $-16.4M | $-35.8M | ||
| Q1 25 | $-46.7M | $-35.8M | ||
| Q4 24 | — | $-13.0M | ||
| Q3 24 | $-8.2M | $-18.3M | ||
| Q2 24 | $-47.8M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 31.8% | 78.9% | ||
| Q3 25 | 35.1% | 78.2% | ||
| Q2 25 | 35.8% | 79.5% | ||
| Q1 25 | 32.1% | 78.7% | ||
| Q4 24 | 34.7% | 83.6% | ||
| Q3 24 | 35.5% | 83.8% | ||
| Q2 24 | 30.5% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | -4.1% | -17.5% | ||
| Q3 25 | -9.8% | -22.2% | ||
| Q2 25 | -9.2% | -24.0% | ||
| Q1 25 | -33.7% | -32.1% | ||
| Q4 24 | -19.5% | -11.1% | ||
| Q3 24 | -3.1% | -16.0% | ||
| Q2 24 | -25.0% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | -13.0% | -18.5% | ||
| Q2 25 | -10.8% | -23.5% | ||
| Q1 25 | -34.8% | -26.2% | ||
| Q4 24 | — | -8.2% | ||
| Q3 24 | -3.2% | -12.4% | ||
| Q2 24 | -25.7% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.06 | $-0.23 | ||
| Q3 25 | $-0.13 | $-0.26 | ||
| Q2 25 | $-0.10 | $-0.32 | ||
| Q1 25 | $-0.30 | $-0.32 | ||
| Q4 24 | $-0.22 | $-0.12 | ||
| Q3 24 | $-0.05 | $-0.16 | ||
| Q2 24 | $-0.31 | $-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 | $49.7M | $179.3M |
| Total DebtLower is stronger | $44.3M | — |
| Stockholders' EquityBook value | $76.5M | $453.5M |
| Total Assets | $428.0M | $1.6B |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $49.7M | $883.7M | ||
| Q3 25 | $152.8M | $671.3M | ||
| Q2 25 | $58.6M | $770.9M | ||
| Q1 25 | $69.6M | $567.6M | ||
| Q4 24 | $102.8M | $529.0M | ||
| Q3 24 | $130.2M | $844.8M | ||
| Q2 24 | $133.0M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $44.3M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $93.1M | — | ||
| Q2 24 | $92.9M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $76.5M | $598.7M | ||
| Q3 25 | $80.5M | $604.8M | ||
| Q2 25 | $97.9M | $341.5M | ||
| Q1 25 | $110.0M | $367.7M | ||
| Q4 24 | $151.7M | $455.7M | ||
| Q3 24 | $183.9M | $428.6M | ||
| Q2 24 | $184.7M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $428.0M | $1.8B | ||
| Q3 25 | $538.6M | $1.7B | ||
| Q2 25 | $439.0M | $1.6B | ||
| Q1 25 | $462.5M | $1.6B | ||
| Q4 24 | $543.7M | $1.7B | ||
| Q3 24 | $661.6M | $1.5B | ||
| Q2 24 | $556.8M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.58× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.50× | — |
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 | $15.6M | $55.0M |
| Free Cash FlowOCF − Capex | $15.0M | $49.0M |
| FCF MarginFCF / Revenue | 7.4% | 28.3% |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-24.0M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $15.6M | $24.7M | ||
| Q3 25 | $12.2M | $33.4M | ||
| Q2 25 | $8.8M | $21.3M | ||
| Q1 25 | $-57.2M | $68.0M | ||
| Q4 24 | $-25.1M | $24.3M | ||
| Q3 24 | $-2.2M | $22.5M | ||
| Q2 24 | $605.0K | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $15.0M | $20.7M | ||
| Q3 25 | $11.2M | $30.4M | ||
| Q2 25 | $8.3M | $18.0M | ||
| Q1 25 | $-58.5M | $65.7M | ||
| Q4 24 | $-25.5M | $19.9M | ||
| Q3 24 | $-4.2M | $21.3M | ||
| Q2 24 | $-111.0K | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 7.4% | 12.0% | ||
| Q3 25 | 6.9% | 18.8% | ||
| Q2 25 | 5.4% | 11.8% | ||
| Q1 25 | -43.5% | 48.1% | ||
| Q4 24 | -12.7% | 12.6% | ||
| Q3 24 | -1.6% | 14.4% | ||
| Q2 24 | -0.1% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 2.3% | ||
| Q3 25 | 0.6% | 1.8% | ||
| Q2 25 | 0.3% | 2.2% | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 0.2% | 2.7% | ||
| Q3 24 | 0.8% | 0.8% | ||
| Q2 24 | 0.4% | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPRO
| Subscription And Services | $106.3M | 53% |
| Other | $95.4M | 47% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
