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Side-by-side financial comparison of Purple Innovation, Inc. (PRPL) 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 $140.7M, roughly 1.2× Purple Innovation, Inc.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 9.1%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-7.8M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 8.3%).
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
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.
PRPL vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.7M | $173.1M |
| Net Profit | $-3.2M | — |
| Gross Margin | 41.9% | 76.0% |
| Operating Margin | -1.6% | -1.7% |
| Net Margin | -2.3% | — |
| Revenue YoY | 9.1% | 26.9% |
| Net Profit YoY | 62.1% | — |
| EPS (diluted) | $0.03 | — |
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 | $140.7M | $173.4M | ||
| Q3 25 | $118.8M | $161.6M | ||
| Q2 25 | $105.1M | $152.2M | ||
| Q1 25 | $104.2M | $136.4M | ||
| Q4 24 | $129.0M | $158.5M | ||
| Q3 24 | $118.6M | $148.1M | ||
| Q2 24 | $120.3M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $-27.8M | ||
| Q3 25 | $-11.7M | $-29.9M | ||
| Q2 25 | $-17.3M | $-35.8M | ||
| Q1 25 | $-19.1M | $-35.8M | ||
| Q4 24 | $-8.5M | $-13.0M | ||
| Q3 24 | $-39.2M | $-18.3M | ||
| Q2 24 | $27.0K | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 41.9% | 78.9% | ||
| Q3 25 | 42.8% | 78.2% | ||
| Q2 25 | 35.9% | 79.5% | ||
| Q1 25 | 39.4% | 78.7% | ||
| Q4 24 | 42.9% | 83.6% | ||
| Q3 24 | 29.7% | 83.8% | ||
| Q2 24 | 40.7% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | -1.6% | -17.5% | ||
| Q3 25 | -10.2% | -22.2% | ||
| Q2 25 | -13.5% | -24.0% | ||
| Q1 25 | -13.9% | -32.1% | ||
| Q4 24 | -6.0% | -11.1% | ||
| Q3 24 | -39.5% | -16.0% | ||
| Q2 24 | -12.1% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -2.3% | -16.0% | ||
| Q3 25 | -9.9% | -18.5% | ||
| Q2 25 | -16.5% | -23.5% | ||
| Q1 25 | -18.4% | -26.2% | ||
| Q4 24 | -6.6% | -8.2% | ||
| Q3 24 | -33.1% | -12.4% | ||
| Q2 24 | 0.0% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.03 | $-0.23 | ||
| Q3 25 | $0.11 | $-0.26 | ||
| Q2 25 | $0.16 | $-0.32 | ||
| Q1 25 | $0.18 | $-0.32 | ||
| Q4 24 | $0.08 | $-0.12 | ||
| Q3 24 | $0.36 | $-0.16 | ||
| Q2 24 | $0.00 | $-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 | $24.3M | $179.3M |
| Total DebtLower is stronger | $126.7M | — |
| Stockholders' EquityBook value | $-29.7M | $453.5M |
| Total Assets | $296.3M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $24.3M | $883.7M | ||
| Q3 25 | $32.4M | $671.3M | ||
| Q2 25 | $34.2M | $770.9M | ||
| Q1 25 | $21.6M | $567.6M | ||
| Q4 24 | $29.0M | $529.0M | ||
| Q3 24 | $23.4M | $844.8M | ||
| Q2 24 | $23.4M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $126.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $70.7M | — | ||
| Q3 24 | $50.8M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $-29.7M | $598.7M | ||
| Q3 25 | $-26.9M | $604.8M | ||
| Q2 25 | $-15.6M | $341.5M | ||
| Q1 25 | $1.3M | $367.7M | ||
| Q4 24 | $20.2M | $455.7M | ||
| Q3 24 | $28.0M | $428.6M | ||
| Q2 24 | $66.4M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $296.3M | $1.8B | ||
| Q3 25 | $302.1M | $1.7B | ||
| Q2 25 | $303.8M | $1.6B | ||
| Q1 25 | $293.8M | $1.6B | ||
| Q4 24 | $307.8M | $1.7B | ||
| Q3 24 | $309.3M | $1.5B | ||
| Q2 24 | $362.1M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | 1.82× | — | ||
| 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 | $-7.8M | $49.0M |
| FCF MarginFCF / Revenue | -5.5% | 28.3% |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-41.9M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-5.8M | $24.7M | ||
| Q3 25 | $-968.0K | $33.4M | ||
| Q2 25 | $-4.0M | $21.3M | ||
| Q1 25 | $-23.1M | $68.0M | ||
| Q4 24 | $6.8M | $24.3M | ||
| Q3 24 | $1.1M | $22.5M | ||
| Q2 24 | $-8.9M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-7.8M | $20.7M | ||
| Q3 25 | $-1.8M | $30.4M | ||
| Q2 25 | $-7.0M | $18.0M | ||
| Q1 25 | $-25.3M | $65.7M | ||
| Q4 24 | $5.7M | $19.9M | ||
| Q3 24 | $101.0K | $21.3M | ||
| Q2 24 | $-11.0M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -5.5% | 12.0% | ||
| Q3 25 | -1.5% | 18.8% | ||
| Q2 25 | -6.6% | 11.8% | ||
| Q1 25 | -24.3% | 48.1% | ||
| Q4 24 | 4.4% | 12.6% | ||
| Q3 24 | 0.1% | 14.4% | ||
| Q2 24 | -9.2% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 2.3% | ||
| Q3 25 | 0.7% | 1.8% | ||
| Q2 25 | 2.8% | 2.2% | ||
| Q1 25 | 2.2% | 1.7% | ||
| Q4 24 | 0.8% | 2.7% | ||
| Q3 24 | 0.9% | 0.8% | ||
| Q2 24 | 1.7% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -330.22× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
