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Side-by-side financial comparison of Hippo Holdings Inc. (HIPO) 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 $120.4M, roughly 1.4× Hippo Holdings Inc.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 18.2%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $9.1M). Over the past eight quarters, Hippo Holdings Inc.'s revenue compounded faster (18.9% CAGR vs 15.2%).
Hippo Valley Estate is a sugar estate found near the town of Chiredzi in Chiredzi District of southeastern Zimbabwe, on the Runde River near the border with Mozambique.
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.
HIPO vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $120.4M | $173.1M |
| Net Profit | $6.0M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 5.6% | -1.7% |
| Net Margin | 5.0% | — |
| Revenue YoY | 18.2% | 26.9% |
| Net Profit YoY | -86.4% | — |
| EPS (diluted) | $0.31 | — |
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 | $120.4M | $173.4M | ||
| Q3 25 | $120.6M | $161.6M | ||
| Q2 25 | $117.3M | $152.2M | ||
| Q1 25 | $110.3M | $136.4M | ||
| Q4 24 | $101.9M | $158.5M | ||
| Q3 24 | $95.5M | $148.1M | ||
| Q2 24 | $89.6M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $6.0M | $-27.8M | ||
| Q3 25 | $98.1M | $-29.9M | ||
| Q2 25 | $1.3M | $-35.8M | ||
| Q1 25 | $-47.7M | $-35.8M | ||
| Q4 24 | $44.2M | $-13.0M | ||
| Q3 24 | $-8.5M | $-18.3M | ||
| Q2 24 | $-40.5M | $-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 | 5.6% | -17.5% | ||
| Q3 25 | 81.3% | -22.2% | ||
| Q2 25 | 3.4% | -24.0% | ||
| Q1 25 | -41.3% | -32.1% | ||
| Q4 24 | 46.3% | -11.1% | ||
| Q3 24 | -5.4% | -16.0% | ||
| Q2 24 | -40.7% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | -16.0% | ||
| Q3 25 | 81.3% | -18.5% | ||
| Q2 25 | 1.1% | -23.5% | ||
| Q1 25 | -43.2% | -26.2% | ||
| Q4 24 | 43.4% | -8.2% | ||
| Q3 24 | -8.9% | -12.4% | ||
| Q2 24 | -45.2% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.31 | $-0.23 | ||
| Q3 25 | $3.77 | $-0.26 | ||
| Q2 25 | $0.05 | $-0.32 | ||
| Q1 25 | $-1.91 | $-0.32 | ||
| Q4 24 | $1.81 | $-0.12 | ||
| Q3 24 | $-0.34 | $-0.16 | ||
| Q2 24 | $-1.64 | $-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 | $218.3M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $436.1M | $453.5M |
| Total Assets | $1.9B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $218.3M | $883.7M | ||
| Q3 25 | $247.7M | $671.3M | ||
| Q2 25 | $198.9M | $770.9M | ||
| Q1 25 | $140.9M | $567.6M | ||
| Q4 24 | $197.6M | $529.0M | ||
| Q3 24 | $191.2M | $844.8M | ||
| Q2 24 | $175.9M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $436.1M | $598.7M | ||
| Q3 25 | $421.5M | $604.8M | ||
| Q2 25 | $332.5M | $341.5M | ||
| Q1 25 | $322.8M | $367.7M | ||
| Q4 24 | $362.1M | $455.7M | ||
| Q3 24 | $326.4M | $428.6M | ||
| Q2 24 | $322.6M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.9B | $1.8B | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $1.7B | $1.6B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.5B | $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 | $9.2M | $55.0M |
| Free Cash FlowOCF − Capex | $9.1M | $49.0M |
| FCF MarginFCF / Revenue | 7.6% | 28.3% |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 1.53× | — |
| TTM Free Cash FlowTrailing 4 quarters | $14.8M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $9.2M | $24.7M | ||
| Q3 25 | $16.9M | $33.4M | ||
| Q2 25 | $24.7M | $21.3M | ||
| Q1 25 | $-35.6M | $68.0M | ||
| Q4 24 | $47.5M | $24.3M | ||
| Q3 24 | $46.8M | $22.5M | ||
| Q2 24 | $-10.6M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $9.1M | $20.7M | ||
| Q3 25 | $16.8M | $30.4M | ||
| Q2 25 | $24.6M | $18.0M | ||
| Q1 25 | $-35.7M | $65.7M | ||
| Q4 24 | $47.2M | $19.9M | ||
| Q3 24 | — | $21.3M | ||
| Q2 24 | $-10.7M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 7.6% | 12.0% | ||
| Q3 25 | 13.9% | 18.8% | ||
| Q2 25 | 21.0% | 11.8% | ||
| Q1 25 | -32.4% | 48.1% | ||
| Q4 24 | 46.3% | 12.6% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | -11.9% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.3% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.1% | 2.2% | ||
| Q1 25 | 0.1% | 1.7% | ||
| Q4 24 | 0.3% | 2.7% | ||
| Q3 24 | 0.0% | 0.8% | ||
| Q2 24 | 0.1% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.53× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 19.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HIPO
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
