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Side-by-side financial comparison of PAMT CORP (PAMT) 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 $141.3M, roughly 1.2× PAMT CORP). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -15.1%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-25.0M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -12.0%).
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.
PAMT vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $173.1M |
| Net Profit | $-29.3M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | -27.0% | -1.7% |
| Net Margin | -20.7% | — |
| Revenue YoY | -15.1% | 26.9% |
| Net Profit YoY | 7.4% | — |
| EPS (diluted) | $-1.38 | — |
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 | $141.3M | $173.4M | ||
| Q3 25 | $150.3M | $161.6M | ||
| Q2 25 | $151.1M | $152.2M | ||
| Q1 25 | $155.3M | $136.4M | ||
| Q4 24 | $166.5M | $158.5M | ||
| Q3 24 | $182.6M | $148.1M | ||
| Q2 24 | $182.9M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-29.3M | $-27.8M | ||
| Q3 25 | $-5.6M | $-29.9M | ||
| Q2 25 | $-9.6M | $-35.8M | ||
| Q1 25 | $-8.1M | $-35.8M | ||
| Q4 24 | $-31.6M | $-13.0M | ||
| Q3 24 | $2.4M | $-18.3M | ||
| Q2 24 | $-2.9M | $-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 | -27.0% | -17.5% | ||
| Q3 25 | -3.8% | -22.2% | ||
| Q2 25 | -7.3% | -24.0% | ||
| Q1 25 | -5.9% | -32.1% | ||
| Q4 24 | -22.6% | -11.1% | ||
| Q3 24 | 1.3% | -16.0% | ||
| Q2 24 | -0.4% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -20.7% | -16.0% | ||
| Q3 25 | -3.7% | -18.5% | ||
| Q2 25 | -6.4% | -23.5% | ||
| Q1 25 | -5.2% | -26.2% | ||
| Q4 24 | -19.0% | -8.2% | ||
| Q3 24 | 1.3% | -12.4% | ||
| Q2 24 | -1.6% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-1.38 | $-0.23 | ||
| Q3 25 | $-0.27 | $-0.26 | ||
| Q2 25 | $-0.46 | $-0.32 | ||
| Q1 25 | $-0.37 | $-0.32 | ||
| Q4 24 | $-1.44 | $-0.12 | ||
| Q3 24 | $0.11 | $-0.16 | ||
| Q2 24 | $-0.13 | $-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 | $83.7M | $179.3M |
| Total DebtLower is stronger | $333.9M | — |
| Stockholders' EquityBook value | $210.5M | $453.5M |
| Total Assets | $697.9M | $1.6B |
| Debt / EquityLower = less leverage | 1.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $83.7M | $883.7M | ||
| Q3 25 | $115.6M | $671.3M | ||
| Q2 25 | $117.3M | $770.9M | ||
| Q1 25 | $102.7M | $567.6M | ||
| Q4 24 | $110.7M | $529.0M | ||
| Q3 24 | $92.3M | $844.8M | ||
| Q2 24 | $114.0M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $333.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $325.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $210.5M | $598.7M | ||
| Q3 25 | $239.5M | $604.8M | ||
| Q2 25 | $244.9M | $341.5M | ||
| Q1 25 | $269.6M | $367.7M | ||
| Q4 24 | $277.5M | $455.7M | ||
| Q3 24 | $308.9M | $428.6M | ||
| Q2 24 | $306.7M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $697.9M | $1.8B | ||
| Q3 25 | $715.2M | $1.7B | ||
| Q2 25 | $707.9M | $1.6B | ||
| Q1 25 | $712.6M | $1.6B | ||
| Q4 24 | $741.7M | $1.7B | ||
| Q3 24 | $756.7M | $1.5B | ||
| Q2 24 | $733.5M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.17× | — | ||
| 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 | $-5.8M | $55.0M |
| Free Cash FlowOCF − Capex | $-25.0M | $49.0M |
| FCF MarginFCF / Revenue | -17.7% | 28.3% |
| Capex IntensityCapex / Revenue | 13.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.4M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-5.8M | $24.7M | ||
| Q3 25 | $5.9M | $33.4M | ||
| Q2 25 | $12.2M | $21.3M | ||
| Q1 25 | $5.0M | $68.0M | ||
| Q4 24 | $15.2M | $24.3M | ||
| Q3 24 | $15.5M | $22.5M | ||
| Q2 24 | $18.7M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-25.0M | $20.7M | ||
| Q3 25 | $2.5M | $30.4M | ||
| Q2 25 | $5.9M | $18.0M | ||
| Q1 25 | $-6.8M | $65.7M | ||
| Q4 24 | $-39.9M | $19.9M | ||
| Q3 24 | $-33.6M | $21.3M | ||
| Q2 24 | $4.1M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -17.7% | 12.0% | ||
| Q3 25 | 1.7% | 18.8% | ||
| Q2 25 | 3.9% | 11.8% | ||
| Q1 25 | -4.4% | 48.1% | ||
| Q4 24 | -24.0% | 12.6% | ||
| Q3 24 | -18.4% | 14.4% | ||
| Q2 24 | 2.2% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 13.6% | 2.3% | ||
| Q3 25 | 2.3% | 1.8% | ||
| Q2 25 | 4.2% | 2.2% | ||
| Q1 25 | 7.6% | 1.7% | ||
| Q4 24 | 33.1% | 2.7% | ||
| Q3 24 | 26.9% | 0.8% | ||
| Q2 24 | 8.0% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.44× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
