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Side-by-side financial comparison of Loar Holdings Inc. (LOAR) 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 $131.8M, roughly 1.3× Loar Holdings Inc.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 19.3%). Over the past eight quarters, Loar Holdings Inc.'s revenue compounded faster (19.8% CAGR vs 15.2%).
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.
LOAR vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $131.8M | $173.1M |
| Net Profit | $12.5M | — |
| Gross Margin | 52.1% | 76.0% |
| Operating Margin | 18.0% | -1.7% |
| Net Margin | 9.5% | — |
| Revenue YoY | 19.3% | 26.9% |
| Net Profit YoY | 239.5% | — |
| EPS (diluted) | $0.13 | — |
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 | $131.8M | $173.4M | ||
| Q3 25 | $126.8M | $161.6M | ||
| Q2 25 | $123.1M | $152.2M | ||
| Q1 25 | $114.7M | $136.4M | ||
| Q4 24 | $110.4M | $158.5M | ||
| Q3 24 | $103.5M | $148.1M | ||
| Q2 24 | $97.0M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $12.5M | $-27.8M | ||
| Q3 25 | $27.6M | $-29.9M | ||
| Q2 25 | $16.7M | $-35.8M | ||
| Q1 25 | $15.3M | $-35.8M | ||
| Q4 24 | $3.7M | $-13.0M | ||
| Q3 24 | $8.7M | $-18.3M | ||
| Q2 24 | $7.6M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 52.1% | 78.9% | ||
| Q3 25 | 52.7% | 78.2% | ||
| Q2 25 | 53.8% | 79.5% | ||
| Q1 25 | 52.1% | 78.7% | ||
| Q4 24 | 48.9% | 83.6% | ||
| Q3 24 | 51.1% | 83.8% | ||
| Q2 24 | 49.0% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | 18.0% | -17.5% | ||
| Q3 25 | 22.9% | -22.2% | ||
| Q2 25 | 22.2% | -24.0% | ||
| Q1 25 | 22.8% | -32.1% | ||
| Q4 24 | 19.2% | -11.1% | ||
| Q3 24 | 22.1% | -16.0% | ||
| Q2 24 | 22.9% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.5% | -16.0% | ||
| Q3 25 | 21.8% | -18.5% | ||
| Q2 25 | 13.6% | -23.5% | ||
| Q1 25 | 13.4% | -26.2% | ||
| Q4 24 | 3.3% | -8.2% | ||
| Q3 24 | 8.4% | -12.4% | ||
| Q2 24 | 7.9% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.13 | $-0.23 | ||
| Q3 25 | $0.29 | $-0.26 | ||
| Q2 25 | $0.17 | $-0.32 | ||
| Q1 25 | $0.16 | $-0.32 | ||
| Q4 24 | $-11023.48 | $-0.12 | ||
| Q3 24 | $0.09 | $-0.16 | ||
| Q2 24 | $0.09 | $-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 | $84.8M | $179.3M |
| Total DebtLower is stronger | $715.7M | — |
| Stockholders' EquityBook value | $1.2B | $453.5M |
| Total Assets | $2.0B | $1.6B |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $84.8M | $883.7M | ||
| Q3 25 | $99.0M | $671.3M | ||
| Q2 25 | $103.3M | $770.9M | ||
| Q1 25 | $80.5M | $567.6M | ||
| Q4 24 | $54.1M | $529.0M | ||
| Q3 24 | $55.2M | $844.8M | ||
| Q2 24 | $73.2M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $715.7M | — | ||
| Q3 25 | $279.4M | — | ||
| Q2 25 | $277.7M | — | ||
| Q1 25 | $277.5M | — | ||
| Q4 24 | $277.3M | — | ||
| Q3 24 | $602.1M | — | ||
| Q2 24 | $250.7M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $1.2B | $598.7M | ||
| Q3 25 | $1.2B | $604.8M | ||
| Q2 25 | $1.1B | $341.5M | ||
| Q1 25 | $1.1B | $367.7M | ||
| Q4 24 | $1.1B | $455.7M | ||
| Q3 24 | $769.8M | $428.6M | ||
| Q2 24 | $758.4M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.1B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.24× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | 0.78× | — | ||
| Q2 24 | 0.33× | — |
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 | $30.4M | $55.0M |
| Free Cash FlowOCF − Capex | — | $49.0M |
| FCF MarginFCF / Revenue | — | 28.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.43× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $30.4M | $24.7M | ||
| Q3 25 | $29.7M | $33.4M | ||
| Q2 25 | $23.8M | $21.3M | ||
| Q1 25 | $28.4M | $68.0M | ||
| Q4 24 | $20.7M | $24.3M | ||
| Q3 24 | $16.3M | $22.5M | ||
| Q2 24 | $7.1M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $30.4M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $65.7M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | — | $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 | — | 12.6% | ||
| Q3 24 | — | 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 | — | 2.7% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.43× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.42× | — | ||
| Q1 25 | 1.85× | — | ||
| Q4 24 | 5.62× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 0.93× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOAR
| Other | $76.8M | 58% |
| Commercial Aerospace | $21.2M | 16% |
| Business Jet And General Aviation | $17.6M | 13% |
| Defense | $16.2M | 12% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
