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Side-by-side financial comparison of OFG BANCORP (OFG) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
OFG BANCORP is the larger business by last-quarter revenue ($184.3M vs $173.1M, roughly 1.1× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 0.9%). OFG BANCORP produced more free cash flow last quarter ($199.3M vs $49.0M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 2.8%).
OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918....
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.
OFG vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $184.3M | $173.1M |
| Net Profit | $55.9M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 25.7% | -1.7% |
| Net Margin | 30.3% | — |
| Revenue YoY | 0.9% | 26.9% |
| Net Profit YoY | 11.0% | — |
| EPS (diluted) | $1.27 | — |
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 | $184.3M | $173.4M | ||
| Q3 25 | $186.2M | $161.6M | ||
| Q2 25 | $182.4M | $152.2M | ||
| Q1 25 | $178.6M | $136.4M | ||
| Q4 24 | $182.7M | $158.5M | ||
| Q3 24 | $174.7M | $148.1M | ||
| Q2 24 | $179.8M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $55.9M | $-27.8M | ||
| Q3 25 | $51.8M | $-29.9M | ||
| Q2 25 | $51.8M | $-35.8M | ||
| Q1 25 | $45.6M | $-35.8M | ||
| Q4 24 | $50.3M | $-13.0M | ||
| Q3 24 | $47.0M | $-18.3M | ||
| Q2 24 | $51.1M | $-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 | 25.7% | -17.5% | ||
| Q3 25 | 33.0% | -22.2% | ||
| Q2 25 | 36.1% | -24.0% | ||
| Q1 25 | 33.3% | -32.1% | ||
| Q4 24 | 28.9% | -11.1% | ||
| Q3 24 | 35.4% | -16.0% | ||
| Q2 24 | 39.6% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 30.3% | -16.0% | ||
| Q3 25 | 27.8% | -18.5% | ||
| Q2 25 | 28.4% | -23.5% | ||
| Q1 25 | 25.5% | -26.2% | ||
| Q4 24 | 27.6% | -8.2% | ||
| Q3 24 | 26.9% | -12.4% | ||
| Q2 24 | 28.4% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $1.27 | $-0.23 | ||
| Q3 25 | $1.16 | $-0.26 | ||
| Q2 25 | $1.15 | $-0.32 | ||
| Q1 25 | $1.00 | $-0.32 | ||
| Q4 24 | $1.10 | $-0.12 | ||
| Q3 24 | $1.00 | $-0.16 | ||
| Q2 24 | $1.08 | $-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 | $1.0B | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $453.5M |
| Total Assets | $12.5B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $1.0B | $883.7M | ||
| Q3 25 | $740.3M | $671.3M | ||
| Q2 25 | $851.8M | $770.9M | ||
| Q1 25 | $710.6M | $567.6M | ||
| Q4 24 | $591.1M | $529.0M | ||
| Q3 24 | $680.6M | $844.8M | ||
| Q2 24 | $740.4M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $1.4B | $598.7M | ||
| Q3 25 | $1.4B | $604.8M | ||
| Q2 25 | $1.3B | $341.5M | ||
| Q1 25 | $1.3B | $367.7M | ||
| Q4 24 | $1.3B | $455.7M | ||
| Q3 24 | $1.3B | $428.6M | ||
| Q2 24 | $1.2B | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $12.5B | $1.8B | ||
| Q3 25 | $12.2B | $1.7B | ||
| Q2 25 | $12.2B | $1.6B | ||
| Q1 25 | $11.7B | $1.6B | ||
| Q4 24 | $11.5B | $1.7B | ||
| Q3 24 | $11.5B | $1.5B | ||
| Q2 24 | $11.3B | $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 | $217.7M | $55.0M |
| Free Cash FlowOCF − Capex | $199.3M | $49.0M |
| FCF MarginFCF / Revenue | 108.1% | 28.3% |
| Capex IntensityCapex / Revenue | 10.0% | — |
| Cash ConversionOCF / Net Profit | 3.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | $345.4M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $217.7M | $24.7M | ||
| Q3 25 | $39.5M | $33.4M | ||
| Q2 25 | $35.9M | $21.3M | ||
| Q1 25 | $83.1M | $68.0M | ||
| Q4 24 | $252.5M | $24.3M | ||
| Q3 24 | $58.1M | $22.5M | ||
| Q2 24 | $95.1M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $199.3M | $20.7M | ||
| Q3 25 | $35.5M | $30.4M | ||
| Q2 25 | $31.8M | $18.0M | ||
| Q1 25 | $78.7M | $65.7M | ||
| Q4 24 | $231.2M | $19.9M | ||
| Q3 24 | $51.8M | $21.3M | ||
| Q2 24 | $90.4M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 108.1% | 12.0% | ||
| Q3 25 | 19.1% | 18.8% | ||
| Q2 25 | 17.4% | 11.8% | ||
| Q1 25 | 44.1% | 48.1% | ||
| Q4 24 | 126.5% | 12.6% | ||
| Q3 24 | 29.6% | 14.4% | ||
| Q2 24 | 50.3% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 10.0% | 2.3% | ||
| Q3 25 | 2.1% | 1.8% | ||
| Q2 25 | 2.3% | 2.2% | ||
| Q1 25 | 2.4% | 1.7% | ||
| Q4 24 | 11.7% | 2.7% | ||
| Q3 24 | 3.6% | 0.8% | ||
| Q2 24 | 2.6% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.90× | — | ||
| Q3 25 | 0.76× | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | 5.02× | — | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 1.86× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OFG
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
