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Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
HEARTLAND EXPRESS INC is the larger business by last-quarter revenue ($179.4M vs $173.1M, roughly 1.0× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -26.1%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-44.2M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
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.
HTLD vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $173.1M |
| Net Profit | $-19.4M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | -12.7% | -1.7% |
| Net Margin | -10.8% | — |
| Revenue YoY | -26.1% | 26.9% |
| Net Profit YoY | -949.2% | — |
| EPS (diluted) | $-0.24 | — |
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 | $179.4M | $173.4M | ||
| Q3 25 | $196.5M | $161.6M | ||
| Q2 25 | $210.4M | $152.2M | ||
| Q1 25 | $219.4M | $136.4M | ||
| Q4 24 | $242.6M | $158.5M | ||
| Q3 24 | $259.9M | $148.1M | ||
| Q2 24 | $274.8M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-19.4M | $-27.8M | ||
| Q3 25 | $-8.3M | $-29.9M | ||
| Q2 25 | $-10.9M | $-35.8M | ||
| Q1 25 | $-13.9M | $-35.8M | ||
| Q4 24 | $-1.9M | $-13.0M | ||
| Q3 24 | $-9.3M | $-18.3M | ||
| Q2 24 | $-3.5M | $-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 | -12.7% | -17.5% | ||
| Q3 25 | -3.7% | -22.2% | ||
| Q2 25 | -5.9% | -24.0% | ||
| Q1 25 | -6.8% | -32.1% | ||
| Q4 24 | 0.4% | -11.1% | ||
| Q3 24 | -2.7% | -16.0% | ||
| Q2 24 | 0.1% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -10.8% | -16.0% | ||
| Q3 25 | -4.2% | -18.5% | ||
| Q2 25 | -5.2% | -23.5% | ||
| Q1 25 | -6.3% | -26.2% | ||
| Q4 24 | -0.8% | -8.2% | ||
| Q3 24 | -3.6% | -12.4% | ||
| Q2 24 | -1.3% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.24 | $-0.23 | ||
| Q3 25 | $-0.11 | $-0.26 | ||
| Q2 25 | $-0.14 | $-0.32 | ||
| Q1 25 | $-0.18 | $-0.32 | ||
| Q4 24 | $-0.03 | $-0.12 | ||
| Q3 24 | $-0.12 | $-0.16 | ||
| Q2 24 | $-0.04 | $-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 | $18.5M | $179.3M |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $453.5M |
| Total Assets | $1.2B | $1.6B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $18.5M | $883.7M | ||
| Q3 25 | $32.7M | $671.3M | ||
| Q2 25 | $22.9M | $770.9M | ||
| Q1 25 | $23.9M | $567.6M | ||
| Q4 24 | $12.8M | $529.0M | ||
| Q3 24 | $30.7M | $844.8M | ||
| Q2 24 | $23.9M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $755.3M | $598.7M | ||
| Q3 25 | $775.6M | $604.8M | ||
| Q2 25 | $786.7M | $341.5M | ||
| Q1 25 | $807.7M | $367.7M | ||
| Q4 24 | $822.6M | $455.7M | ||
| Q3 24 | $825.7M | $428.6M | ||
| Q2 24 | $836.8M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.4B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $14.9M | $55.0M |
| Free Cash FlowOCF − Capex | $-44.2M | $49.0M |
| FCF MarginFCF / Revenue | -24.6% | 28.3% |
| Capex IntensityCapex / Revenue | 33.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $14.9M | $24.7M | ||
| Q3 25 | $27.5M | $33.4M | ||
| Q2 25 | $21.0M | $21.3M | ||
| Q1 25 | $25.8M | $68.0M | ||
| Q4 24 | $37.8M | $24.3M | ||
| Q3 24 | $35.6M | $22.5M | ||
| Q2 24 | $40.0M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-44.2M | $20.7M | ||
| Q3 25 | $-12.2M | $30.4M | ||
| Q2 25 | $-12.8M | $18.0M | ||
| Q1 25 | $2.3M | $65.7M | ||
| Q4 24 | $-45.5M | $19.9M | ||
| Q3 24 | $24.6M | $21.3M | ||
| Q2 24 | $29.4M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -24.6% | 12.0% | ||
| Q3 25 | -6.2% | 18.8% | ||
| Q2 25 | -6.1% | 11.8% | ||
| Q1 25 | 1.0% | 48.1% | ||
| Q4 24 | -18.8% | 12.6% | ||
| Q3 24 | 9.5% | 14.4% | ||
| Q2 24 | 10.7% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 33.0% | 2.3% | ||
| Q3 25 | 20.2% | 1.8% | ||
| Q2 25 | 16.1% | 2.2% | ||
| Q1 25 | 10.7% | 1.7% | ||
| Q4 24 | 34.3% | 2.7% | ||
| Q3 24 | 4.2% | 0.8% | ||
| Q2 24 | 3.8% | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTLD
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
