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Side-by-side financial comparison of OPKO HEALTH, INC. (OPK) 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 $148.5M, roughly 1.2× OPKO HEALTH, INC.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -19.2%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-28.6M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -7.5%).
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
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.
OPK vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $148.5M | $173.1M |
| Net Profit | $-31.3M | — |
| Gross Margin | 43.1% | 76.0% |
| Operating Margin | -25.8% | -1.7% |
| Net Margin | -21.1% | — |
| Revenue YoY | -19.2% | 26.9% |
| Net Profit YoY | -322.8% | — |
| EPS (diluted) | $-0.04 | — |
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 | $148.5M | $173.4M | ||
| Q3 25 | $151.7M | $161.6M | ||
| Q2 25 | $156.8M | $152.2M | ||
| Q1 25 | $150.0M | $136.4M | ||
| Q4 24 | $183.6M | $158.5M | ||
| Q3 24 | $173.6M | $148.1M | ||
| Q2 24 | $182.2M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-31.3M | $-27.8M | ||
| Q3 25 | $21.6M | $-29.9M | ||
| Q2 25 | $-148.4M | $-35.8M | ||
| Q1 25 | $-67.6M | $-35.8M | ||
| Q4 24 | $14.0M | $-13.0M | ||
| Q3 24 | $24.9M | $-18.3M | ||
| Q2 24 | $-10.3M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 43.1% | 78.9% | ||
| Q3 25 | 32.9% | 78.2% | ||
| Q2 25 | 31.5% | 79.5% | ||
| Q1 25 | 28.4% | 78.7% | ||
| Q4 24 | 46.1% | 83.6% | ||
| Q3 24 | 23.1% | 83.8% | ||
| Q2 24 | 28.4% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | -25.8% | -17.5% | ||
| Q3 25 | 31.7% | -22.2% | ||
| Q2 25 | -38.3% | -24.0% | ||
| Q1 25 | -44.8% | -32.1% | ||
| Q4 24 | -18.0% | -11.1% | ||
| Q3 24 | 8.2% | -16.0% | ||
| Q2 24 | -33.9% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -21.1% | -16.0% | ||
| Q3 25 | 14.3% | -18.5% | ||
| Q2 25 | -94.7% | -23.5% | ||
| Q1 25 | -45.1% | -26.2% | ||
| Q4 24 | 7.6% | -8.2% | ||
| Q3 24 | 14.3% | -12.4% | ||
| Q2 24 | -5.7% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $-0.23 | ||
| Q3 25 | $0.03 | $-0.26 | ||
| Q2 25 | $-0.19 | $-0.32 | ||
| Q1 25 | $-0.10 | $-0.32 | ||
| Q4 24 | $0.02 | $-0.12 | ||
| Q3 24 | $0.03 | $-0.16 | ||
| Q2 24 | $-0.01 | $-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 | $364.4M | $179.3M |
| Total DebtLower is stronger | $344.0M | — |
| Stockholders' EquityBook value | $1.3B | $453.5M |
| Total Assets | $1.9B | $1.6B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $364.4M | $883.7M | ||
| Q3 25 | $412.0M | $671.3M | ||
| Q2 25 | $267.3M | $770.9M | ||
| Q1 25 | $428.8M | $567.6M | ||
| Q4 24 | $426.6M | $529.0M | ||
| Q3 24 | $400.1M | $844.8M | ||
| Q2 24 | $40.6M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $344.0M | — | ||
| Q3 25 | $344.2M | — | ||
| Q2 25 | $343.3M | — | ||
| Q1 25 | $439.2M | — | ||
| Q4 24 | $437.2M | — | ||
| Q3 24 | $441.0M | — | ||
| Q2 24 | $201.9M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $1.3B | $598.7M | ||
| Q3 25 | $1.3B | $604.8M | ||
| Q2 25 | $1.3B | $341.5M | ||
| Q1 25 | $1.3B | $367.7M | ||
| Q4 24 | $1.4B | $455.7M | ||
| Q3 24 | $1.4B | $428.6M | ||
| Q2 24 | $1.4B | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.9B | $1.8B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.0B | $1.6B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.2B | $1.7B | ||
| Q3 24 | $2.3B | $1.5B | ||
| Q2 24 | $2.0B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.14× | — |
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 | $-25.9M | $55.0M |
| Free Cash FlowOCF − Capex | $-28.6M | $49.0M |
| FCF MarginFCF / Revenue | -19.3% | 28.3% |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-190.8M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-25.9M | $24.7M | ||
| Q3 25 | $-34.6M | $33.4M | ||
| Q2 25 | $-83.4M | $21.3M | ||
| Q1 25 | $-34.6M | $68.0M | ||
| Q4 24 | $-44.4M | $24.3M | ||
| Q3 24 | $-77.1M | $22.5M | ||
| Q2 24 | $-26.4M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-28.6M | $20.7M | ||
| Q3 25 | $-37.8M | $30.4M | ||
| Q2 25 | $-86.7M | $18.0M | ||
| Q1 25 | $-37.7M | $65.7M | ||
| Q4 24 | $-49.8M | $19.9M | ||
| Q3 24 | $-85.0M | $21.3M | ||
| Q2 24 | $-33.7M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -19.3% | 12.0% | ||
| Q3 25 | -24.9% | 18.8% | ||
| Q2 25 | -55.3% | 11.8% | ||
| Q1 25 | -25.2% | 48.1% | ||
| Q4 24 | -27.1% | 12.6% | ||
| Q3 24 | -49.0% | 14.4% | ||
| Q2 24 | -18.5% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 2.3% | ||
| Q3 25 | 2.1% | 1.8% | ||
| Q2 25 | 2.1% | 2.2% | ||
| Q1 25 | 2.1% | 1.7% | ||
| Q4 24 | 2.9% | 2.7% | ||
| Q3 24 | 4.6% | 0.8% | ||
| Q2 24 | 4.0% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -1.60× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -3.17× | — | ||
| Q3 24 | -3.10× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 4% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
