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Side-by-side financial comparison of SunOpta Inc. (STKL) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
SunOpta Inc. is the larger business by last-quarter revenue ($205.4M vs $173.1M, roughly 1.2× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 16.6%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $12.1M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 7.4%).
SunOpta, Inc. is a multi-national food and mineral company headquartered in Eden Prairie, Minnesota and founded in 1973 in Canada.
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.
STKL vs VRNS — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $205.4M | $173.1M |
| Net Profit | $816.0K | — |
| Gross Margin | 12.4% | 76.0% |
| Operating Margin | 3.3% | -1.7% |
| Net Margin | 0.4% | — |
| Revenue YoY | 16.6% | 26.9% |
| Net Profit YoY | 113.1% | — |
| EPS (diluted) | $0.01 | — |
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 | $205.4M | $161.6M | ||
| Q2 25 | $191.5M | $152.2M | ||
| Q1 25 | $201.6M | $136.4M | ||
| Q4 24 | $193.9M | $158.5M | ||
| Q3 24 | $175.9M | $148.1M | ||
| Q2 24 | $169.5M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $816.0K | $-29.9M | ||
| Q2 25 | $4.4M | $-35.8M | ||
| Q1 25 | $4.8M | $-35.8M | ||
| Q4 24 | $-8.7M | $-13.0M | ||
| Q3 24 | $-6.2M | $-18.3M | ||
| Q2 24 | $-5.3M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | 12.4% | 78.2% | ||
| Q2 25 | 14.8% | 79.5% | ||
| Q1 25 | 15.0% | 78.7% | ||
| Q4 24 | 10.9% | 83.6% | ||
| Q3 24 | 13.0% | 83.8% | ||
| Q2 24 | 12.5% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | — | -17.5% | ||
| Q3 25 | 3.3% | -22.2% | ||
| Q2 25 | 5.5% | -24.0% | ||
| Q1 25 | 5.2% | -32.1% | ||
| Q4 24 | 1.4% | -11.1% | ||
| Q3 24 | 0.5% | -16.0% | ||
| Q2 24 | 1.2% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | 0.4% | -18.5% | ||
| Q2 25 | 2.3% | -23.5% | ||
| Q1 25 | 2.4% | -26.2% | ||
| Q4 24 | -4.5% | -8.2% | ||
| Q3 24 | -3.5% | -12.4% | ||
| Q2 24 | -3.1% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.23 | ||
| Q3 25 | $0.01 | $-0.26 | ||
| Q2 25 | $0.03 | $-0.32 | ||
| Q1 25 | $0.04 | $-0.32 | ||
| Q4 24 | $-0.08 | $-0.12 | ||
| Q3 24 | $-0.05 | $-0.16 | ||
| Q2 24 | $-0.04 | $-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 | $2.2M | $179.3M |
| Total DebtLower is stronger | $250.8M | — |
| Stockholders' EquityBook value | $162.8M | $453.5M |
| Total Assets | $694.1M | $1.6B |
| Debt / EquityLower = less leverage | 1.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | — | $883.7M | ||
| Q3 25 | $2.2M | $671.3M | ||
| Q2 25 | $2.2M | $770.9M | ||
| Q1 25 | $2.3M | $567.6M | ||
| Q4 24 | $1.6M | $529.0M | ||
| Q3 24 | $2.9M | $844.8M | ||
| Q2 24 | $3.2M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $250.8M | — | ||
| Q2 25 | $263.3M | — | ||
| Q1 25 | $260.6M | — | ||
| Q4 24 | $265.2M | — | ||
| Q3 24 | $289.9M | — | ||
| Q2 24 | $303.1M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | — | $598.7M | ||
| Q3 25 | $162.8M | $604.8M | ||
| Q2 25 | $159.8M | $341.5M | ||
| Q1 25 | $154.8M | $367.7M | ||
| Q4 24 | $148.6M | $455.7M | ||
| Q3 24 | $155.0M | $428.6M | ||
| Q2 24 | $158.8M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $694.1M | $1.7B | ||
| Q2 25 | $704.9M | $1.6B | ||
| Q1 25 | $690.7M | $1.6B | ||
| Q4 24 | $668.5M | $1.7B | ||
| Q3 24 | $699.3M | $1.5B | ||
| Q2 24 | $704.7M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 1.65× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.91× | — |
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 | $16.3M | $55.0M |
| Free Cash FlowOCF − Capex | $12.1M | $49.0M |
| FCF MarginFCF / Revenue | 5.9% | 28.3% |
| Capex IntensityCapex / Revenue | 2.1% | — |
| Cash ConversionOCF / Net Profit | 20.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | $36.4M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | — | $24.7M | ||
| Q3 25 | $16.3M | $33.4M | ||
| Q2 25 | $-4.5M | $21.3M | ||
| Q1 25 | $22.3M | $68.0M | ||
| Q4 24 | $33.1M | $24.3M | ||
| Q3 24 | $17.2M | $22.5M | ||
| Q2 24 | $-5.6M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | $12.1M | $30.4M | ||
| Q2 25 | $-9.2M | $18.0M | ||
| Q1 25 | $9.5M | $65.7M | ||
| Q4 24 | $24.0M | $19.9M | ||
| Q3 24 | $11.7M | $21.3M | ||
| Q2 24 | $-15.3M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | 5.9% | 18.8% | ||
| Q2 25 | -4.8% | 11.8% | ||
| Q1 25 | 4.7% | 48.1% | ||
| Q4 24 | 12.4% | 12.6% | ||
| Q3 24 | 6.6% | 14.4% | ||
| Q2 24 | -9.0% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | 2.1% | 1.8% | ||
| Q2 25 | 2.5% | 2.2% | ||
| Q1 25 | 6.3% | 1.7% | ||
| Q4 24 | 4.7% | 2.7% | ||
| Q3 24 | 3.2% | 0.8% | ||
| Q2 24 | 5.7% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 20.03× | — | ||
| Q2 25 | -1.03× | — | ||
| Q1 25 | 4.63× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STKL
| Beverages And Broths | $161.4M | 79% |
| Fruit Snacks | $40.9M | 20% |
| Ingredients | $3.1M | 2% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
