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Side-by-side financial comparison of STRATASYS LTD. (SSYS) 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 $137.0M, roughly 1.3× STRATASYS LTD.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -2.2%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $2.5M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -7.4%).
Stratasys, Ltd. is an American-Israeli manufacturer of 3D printers, software, and materials for polymer additive manufacturing as well as 3D-printed parts on-demand. The company is incorporated in Israel. Engineers use Stratasys systems to model complex geometries in a wide range of polymer materials, including: ABS, polyphenylsulfone (PPSF), polycarbonate (PC), polyetherimide and Nylon 12.
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.
SSYS vs VRNS — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $137.0M | $173.1M |
| Net Profit | $-55.6M | — |
| Gross Margin | 41.0% | 76.0% |
| Operating Margin | -16.6% | -1.7% |
| Net Margin | -40.6% | — |
| Revenue YoY | -2.2% | 26.9% |
| Net Profit YoY | -109.0% | — |
| EPS (diluted) | — | — |
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 | — | $173.4M | ||
| Q3 25 | $137.0M | $161.6M | ||
| Q2 25 | $138.1M | $152.2M | ||
| Q1 25 | $136.0M | $136.4M | ||
| Q4 24 | — | $158.5M | ||
| Q3 24 | $140.0M | $148.1M | ||
| Q2 24 | $138.0M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $-55.6M | $-29.9M | ||
| Q2 25 | $-16.7M | $-35.8M | ||
| Q1 25 | $-13.1M | $-35.8M | ||
| Q4 24 | — | $-13.0M | ||
| Q3 24 | $-26.6M | $-18.3M | ||
| Q2 24 | $-25.7M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | 41.0% | 78.2% | ||
| Q2 25 | 43.1% | 79.5% | ||
| Q1 25 | 44.3% | 78.7% | ||
| Q4 24 | — | 83.6% | ||
| Q3 24 | 44.8% | 83.8% | ||
| Q2 24 | 43.8% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | — | -17.5% | ||
| Q3 25 | -16.6% | -22.2% | ||
| Q2 25 | -12.0% | -24.0% | ||
| Q1 25 | -9.1% | -32.1% | ||
| Q4 24 | — | -11.1% | ||
| Q3 24 | -18.2% | -16.0% | ||
| Q2 24 | -18.9% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | -40.6% | -18.5% | ||
| Q2 25 | -12.1% | -23.5% | ||
| Q1 25 | -9.6% | -26.2% | ||
| Q4 24 | — | -8.2% | ||
| Q3 24 | -19.0% | -12.4% | ||
| Q2 24 | -18.6% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.23 | ||
| Q3 25 | — | $-0.26 | ||
| Q2 25 | — | $-0.32 | ||
| Q1 25 | — | $-0.32 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $-0.16 | ||
| Q2 24 | — | $-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 | $71.5M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $852.5M | $453.5M |
| Total Assets | $1.1B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | — | $883.7M | ||
| Q3 25 | $71.5M | $671.3M | ||
| Q2 25 | $71.1M | $770.9M | ||
| Q1 25 | $70.1M | $567.6M | ||
| Q4 24 | — | $529.0M | ||
| Q3 24 | $64.0M | $844.8M | ||
| Q2 24 | $70.9M | $582.5M |
| Q1 26 | — | $453.5M | ||
| Q4 25 | — | $598.7M | ||
| Q3 25 | $852.5M | $604.8M | ||
| Q2 25 | $902.4M | $341.5M | ||
| Q1 25 | $784.8M | $367.7M | ||
| Q4 24 | — | $455.7M | ||
| Q3 24 | $831.8M | $428.6M | ||
| Q2 24 | $850.5M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.1B | $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 | $6.9M | $55.0M |
| Free Cash FlowOCF − Capex | $2.5M | $49.0M |
| FCF MarginFCF / Revenue | 1.8% | 28.3% |
| Capex IntensityCapex / Revenue | 3.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-11.5M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | — | $24.7M | ||
| Q3 25 | $6.9M | $33.4M | ||
| Q2 25 | $-1.1M | $21.3M | ||
| Q1 25 | $4.5M | $68.0M | ||
| Q4 24 | — | $24.3M | ||
| Q3 24 | $-4.5M | $22.5M | ||
| Q2 24 | $-2.4M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | $2.5M | $30.4M | ||
| Q2 25 | $-8.4M | $18.0M | ||
| Q1 25 | $789.0K | $65.7M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $-6.3M | $21.3M | ||
| Q2 24 | $-4.9M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | 1.8% | 18.8% | ||
| Q2 25 | -6.1% | 11.8% | ||
| Q1 25 | 0.6% | 48.1% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | -4.5% | 14.4% | ||
| Q2 24 | -3.6% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | 3.2% | 1.8% | ||
| Q2 25 | 5.3% | 2.2% | ||
| Q1 25 | 2.8% | 1.7% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 1.3% | 0.8% | ||
| Q2 24 | 1.8% | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SSYS
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
