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Side-by-side financial comparison of RADIANT LOGISTICS, INC (RLGT) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
RADIANT LOGISTICS, INC is the larger business by last-quarter revenue ($232.1M vs $173.1M, roughly 1.3× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -12.3%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $11.6M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 12.1%).
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
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.
RLGT vs VRNS — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $232.1M | $173.1M |
| Net Profit | $5.3M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 3.2% | -1.7% |
| Net Margin | 2.3% | — |
| Revenue YoY | -12.3% | 26.9% |
| Net Profit YoY | -18.0% | — |
| EPS (diluted) | $0.11 | — |
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 | $232.1M | $173.4M | ||
| Q3 25 | $226.7M | $161.6M | ||
| Q2 25 | $220.6M | $152.2M | ||
| Q1 25 | $214.0M | $136.4M | ||
| Q4 24 | $264.5M | $158.5M | ||
| Q3 24 | $203.6M | $148.1M | ||
| Q2 24 | $206.0M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $5.3M | $-27.8M | ||
| Q3 25 | $1.3M | $-29.9M | ||
| Q2 25 | $4.9M | $-35.8M | ||
| Q1 25 | $2.5M | $-35.8M | ||
| Q4 24 | $6.5M | $-13.0M | ||
| Q3 24 | $3.4M | $-18.3M | ||
| Q2 24 | $4.8M | $-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 | 3.2% | -17.5% | ||
| Q3 25 | 0.9% | -22.2% | ||
| Q2 25 | 2.4% | -24.0% | ||
| Q1 25 | 1.6% | -32.1% | ||
| Q4 24 | 3.3% | -11.1% | ||
| Q3 24 | 1.9% | -16.0% | ||
| Q2 24 | 2.4% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | -16.0% | ||
| Q3 25 | 0.6% | -18.5% | ||
| Q2 25 | 2.2% | -23.5% | ||
| Q1 25 | 1.2% | -26.2% | ||
| Q4 24 | 2.4% | -8.2% | ||
| Q3 24 | 1.7% | -12.4% | ||
| Q2 24 | 2.3% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.11 | $-0.23 | ||
| Q3 25 | $0.03 | $-0.26 | ||
| Q2 25 | $0.10 | $-0.32 | ||
| Q1 25 | $0.05 | $-0.32 | ||
| Q4 24 | $0.13 | $-0.12 | ||
| Q3 24 | $0.07 | $-0.16 | ||
| Q2 24 | $0.11 | $-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 | $31.9M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $229.8M | $453.5M |
| Total Assets | $439.4M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $31.9M | $883.7M | ||
| Q3 25 | $28.1M | $671.3M | ||
| Q2 25 | $22.9M | $770.9M | ||
| Q1 25 | $19.0M | $567.6M | ||
| Q4 24 | $19.9M | $529.0M | ||
| Q3 24 | $10.4M | $844.8M | ||
| Q2 24 | $24.9M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $229.8M | $598.7M | ||
| Q3 25 | $225.7M | $604.8M | ||
| Q2 25 | $226.0M | $341.5M | ||
| Q1 25 | $218.2M | $367.7M | ||
| Q4 24 | $214.4M | $455.7M | ||
| Q3 24 | $212.4M | $428.6M | ||
| Q2 24 | $209.4M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $439.4M | $1.8B | ||
| Q3 25 | $445.3M | $1.7B | ||
| Q2 25 | $426.8M | $1.6B | ||
| Q1 25 | $414.5M | $1.6B | ||
| Q4 24 | $386.8M | $1.7B | ||
| Q3 24 | $375.3M | $1.5B | ||
| Q2 24 | $371.2M | $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 | $12.4M | $55.0M |
| Free Cash FlowOCF − Capex | $11.6M | $49.0M |
| FCF MarginFCF / Revenue | 5.0% | 28.3% |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 2.33× | — |
| TTM Free Cash FlowTrailing 4 quarters | $8.5M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $12.4M | $24.7M | ||
| Q3 25 | $2.5M | $33.4M | ||
| Q2 25 | $3.1M | $21.3M | ||
| Q1 25 | $-5.7M | $68.0M | ||
| Q4 24 | $15.7M | $24.3M | ||
| Q3 24 | $205.0K | $22.5M | ||
| Q2 24 | $1.3M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $11.6M | $20.7M | ||
| Q3 25 | $977.0K | $30.4M | ||
| Q2 25 | $2.2M | $18.0M | ||
| Q1 25 | $-6.4M | $65.7M | ||
| Q4 24 | $14.1M | $19.9M | ||
| Q3 24 | $-1.9M | $21.3M | ||
| Q2 24 | $-185.0K | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 5.0% | 12.0% | ||
| Q3 25 | 0.4% | 18.8% | ||
| Q2 25 | 1.0% | 11.8% | ||
| Q1 25 | -3.0% | 48.1% | ||
| Q4 24 | 5.3% | 12.6% | ||
| Q3 24 | -0.9% | 14.4% | ||
| Q2 24 | -0.1% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 2.3% | ||
| Q3 25 | 0.7% | 1.8% | ||
| Q2 25 | 0.4% | 2.2% | ||
| Q1 25 | 0.3% | 1.7% | ||
| Q4 24 | 0.6% | 2.7% | ||
| Q3 24 | 1.0% | 0.8% | ||
| Q2 24 | 0.7% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.33× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | -2.26× | — | ||
| Q4 24 | 2.43× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | 0.26× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
