vs
Side-by-side financial comparison of HIVE Digital Technologies Ltd. (HIVE) 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 $93.1M, roughly 1.9× HIVE Digital Technologies Ltd.). On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs 26.9%). Over the past eight quarters, HIVE Digital Technologies Ltd.'s revenue compounded faster (102.2% CAGR vs 15.2%).
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
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.
HIVE vs VRNS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $93.1M | $173.1M |
| Net Profit | $-91.3M | — |
| Gross Margin | -27.1% | 76.0% |
| Operating Margin | — | -1.7% |
| Net Margin | -98.1% | — |
| Revenue YoY | 218.6% | 26.9% |
| Net Profit YoY | -234.0% | — |
| EPS (diluted) | $-0.38 | — |
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 | $93.1M | $173.4M | ||
| Q3 25 | $87.3M | $161.6M | ||
| Q2 25 | $45.6M | $152.2M | ||
| Q1 25 | — | $136.4M | ||
| Q4 24 | $29.2M | $158.5M | ||
| Q3 24 | $22.6M | $148.1M | ||
| Q2 24 | $32.2M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-91.3M | $-27.8M | ||
| Q3 25 | $-15.8M | $-29.9M | ||
| Q2 25 | $35.0M | $-35.8M | ||
| Q1 25 | — | $-35.8M | ||
| Q4 24 | $68.2M | $-13.0M | ||
| Q3 24 | $80.0K | $-18.3M | ||
| Q2 24 | $-18.3M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | -27.1% | 78.9% | ||
| Q3 25 | 4.7% | 78.2% | ||
| Q2 25 | -13.6% | 79.5% | ||
| Q1 25 | — | 78.7% | ||
| Q4 24 | -43.7% | 83.6% | ||
| Q3 24 | -66.1% | 83.8% | ||
| Q2 24 | -7.4% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | — | -17.5% | ||
| Q3 25 | — | -22.2% | ||
| Q2 25 | — | -24.0% | ||
| Q1 25 | — | -32.1% | ||
| Q4 24 | — | -11.1% | ||
| Q3 24 | — | -16.0% | ||
| Q2 24 | — | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -98.1% | -16.0% | ||
| Q3 25 | -18.1% | -18.5% | ||
| Q2 25 | 76.8% | -23.5% | ||
| Q1 25 | — | -26.2% | ||
| Q4 24 | 233.2% | -8.2% | ||
| Q3 24 | 0.4% | -12.4% | ||
| Q2 24 | -56.7% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.38 | $-0.23 | ||
| Q3 25 | $-0.07 | $-0.26 | ||
| Q2 25 | $0.18 | $-0.32 | ||
| Q1 25 | — | $-0.32 | ||
| Q4 24 | $0.52 | $-0.12 | ||
| Q3 24 | $0.00 | $-0.16 | ||
| Q2 24 | $-0.17 | $-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 | $559.3M | $453.5M |
| Total Assets | $624.0M | $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 | — | $567.6M | ||
| Q4 24 | $40.5M | $529.0M | ||
| Q3 24 | $31.7M | $844.8M | ||
| Q2 24 | — | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $559.3M | $598.7M | ||
| Q3 25 | $624.6M | $604.8M | ||
| Q2 25 | $560.5M | $341.5M | ||
| Q1 25 | — | $367.7M | ||
| Q4 24 | $430.9M | $455.7M | ||
| Q3 24 | $275.5M | $428.6M | ||
| Q2 24 | $268.6M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $624.0M | $1.8B | ||
| Q3 25 | $693.0M | $1.7B | ||
| Q2 25 | $628.7M | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $478.6M | $1.7B | ||
| Q3 24 | $334.7M | $1.5B | ||
| Q2 24 | — | $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 | $46.0M | $55.0M |
| Free Cash FlowOCF − Capex | — | $49.0M |
| FCF MarginFCF / Revenue | — | 28.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $46.0M | $24.7M | ||
| Q3 25 | $-10.6M | $33.4M | ||
| Q2 25 | $10.2M | $21.3M | ||
| Q1 25 | — | $68.0M | ||
| Q4 24 | $-28.5M | $24.3M | ||
| Q3 24 | $-2.2M | $22.5M | ||
| Q2 24 | $-4.4M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $30.4M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $65.7M | ||
| Q4 24 | $-55.5M | $19.9M | ||
| Q3 24 | $-34.7M | $21.3M | ||
| Q2 24 | — | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 18.8% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 48.1% | ||
| Q4 24 | -189.9% | 12.6% | ||
| Q3 24 | -153.4% | 14.4% | ||
| Q2 24 | — | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 92.5% | 2.7% | ||
| Q3 24 | 143.9% | 0.8% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.42× | — | ||
| Q3 24 | -26.94× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HIVE
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
