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Side-by-side financial comparison of Strategic Education, Inc. (STRA) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
Strategic Education, Inc. is the larger business by last-quarter revenue ($305.9M vs $173.1M, roughly 1.8× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 0.8%). Strategic Education, Inc. produced more free cash flow last quarter ($77.3M vs $49.0M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -1.0%).
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
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.
STRA vs VRNS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $305.9M | $173.1M |
| Net Profit | $32.8M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 13.4% | -1.7% |
| Net Margin | 10.7% | — |
| Revenue YoY | 0.8% | 26.9% |
| Net Profit YoY | 10.3% | — |
| EPS (diluted) | $1.48 | — |
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 | $305.9M | $173.1M | ||
| Q4 25 | $323.2M | $173.4M | ||
| Q3 25 | $319.9M | $161.6M | ||
| Q2 25 | $321.5M | $152.2M | ||
| Q1 25 | $303.6M | $136.4M | ||
| Q4 24 | $311.5M | $158.5M | ||
| Q3 24 | $306.0M | $148.1M | ||
| Q2 24 | $312.3M | $130.3M |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $37.9M | $-27.8M | ||
| Q3 25 | $26.6M | $-29.9M | ||
| Q2 25 | $32.3M | $-35.8M | ||
| Q1 25 | $29.7M | $-35.8M | ||
| Q4 24 | $25.3M | $-13.0M | ||
| Q3 24 | $27.7M | $-18.3M | ||
| Q2 24 | $29.9M | $-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 | 13.4% | -1.7% | ||
| Q4 25 | 16.0% | -17.5% | ||
| Q3 25 | 11.6% | -22.2% | ||
| Q2 25 | 14.2% | -24.0% | ||
| Q1 25 | 13.1% | -32.1% | ||
| Q4 24 | 11.6% | -11.1% | ||
| Q3 24 | 11.9% | -16.0% | ||
| Q2 24 | 13.4% | -22.1% |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 11.7% | -16.0% | ||
| Q3 25 | 8.3% | -18.5% | ||
| Q2 25 | 10.1% | -23.5% | ||
| Q1 25 | 9.8% | -26.2% | ||
| Q4 24 | 8.1% | -8.2% | ||
| Q3 24 | 9.1% | -12.4% | ||
| Q2 24 | 9.6% | -18.4% |
| Q1 26 | $1.48 | — | ||
| Q4 25 | $1.65 | $-0.23 | ||
| Q3 25 | $1.15 | $-0.26 | ||
| Q2 25 | $1.37 | $-0.32 | ||
| Q1 25 | $1.24 | $-0.32 | ||
| Q4 24 | $1.05 | $-0.12 | ||
| Q3 24 | $1.15 | $-0.16 | ||
| Q2 24 | $1.24 | $-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 | $150.3M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.6B | $453.5M |
| Total Assets | $2.1B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $150.3M | $179.3M | ||
| Q4 25 | $148.1M | $883.7M | ||
| Q3 25 | $172.6M | $671.3M | ||
| Q2 25 | $164.9M | $770.9M | ||
| Q1 25 | $182.6M | $567.6M | ||
| Q4 24 | $184.0M | $529.0M | ||
| Q3 24 | $222.1M | $844.8M | ||
| Q2 24 | $256.2M | $582.5M |
| Q1 26 | $1.6B | $453.5M | ||
| Q4 25 | $1.6B | $598.7M | ||
| Q3 25 | $1.7B | $604.8M | ||
| Q2 25 | $1.7B | $341.5M | ||
| Q1 25 | $1.6B | $367.7M | ||
| Q4 24 | $1.7B | $455.7M | ||
| Q3 24 | $1.7B | $428.6M | ||
| Q2 24 | $1.7B | $458.6M |
| Q1 26 | $2.1B | $1.6B | ||
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.1B | $1.6B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.0B | $1.7B | ||
| Q3 24 | $2.2B | $1.5B | ||
| Q2 24 | $2.2B | $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 | $87.4M | $55.0M |
| Free Cash FlowOCF − Capex | $77.3M | $49.0M |
| FCF MarginFCF / Revenue | 25.3% | 28.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.66× | — |
| TTM Free Cash FlowTrailing 4 quarters | $173.9M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $87.4M | $55.0M | ||
| Q4 25 | $39.2M | $24.7M | ||
| Q3 25 | $60.1M | $33.4M | ||
| Q2 25 | $31.2M | $21.3M | ||
| Q1 25 | $67.7M | $68.0M | ||
| Q4 24 | $15.9M | $24.3M | ||
| Q3 24 | $51.5M | $22.5M | ||
| Q2 24 | $24.3M | $11.7M |
| Q1 26 | $77.3M | $49.0M | ||
| Q4 25 | $27.0M | $20.7M | ||
| Q3 25 | $49.3M | $30.4M | ||
| Q2 25 | $20.4M | $18.0M | ||
| Q1 25 | $57.3M | $65.7M | ||
| Q4 24 | $4.7M | $19.9M | ||
| Q3 24 | $42.1M | $21.3M | ||
| Q2 24 | $13.6M | $10.9M |
| Q1 26 | 25.3% | 28.3% | ||
| Q4 25 | 8.3% | 12.0% | ||
| Q3 25 | 15.4% | 18.8% | ||
| Q2 25 | 6.3% | 11.8% | ||
| Q1 25 | 18.9% | 48.1% | ||
| Q4 24 | 1.5% | 12.6% | ||
| Q3 24 | 13.8% | 14.4% | ||
| Q2 24 | 4.3% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | 2.3% | ||
| Q3 25 | 3.4% | 1.8% | ||
| Q2 25 | 3.4% | 2.2% | ||
| Q1 25 | 3.4% | 1.7% | ||
| Q4 24 | 3.6% | 2.7% | ||
| Q3 24 | 3.1% | 0.8% | ||
| Q2 24 | 3.4% | 0.6% |
| Q1 26 | 2.66× | — | ||
| Q4 25 | 1.03× | — | ||
| Q3 25 | 2.26× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 2.27× | — | ||
| Q4 24 | 0.63× | — | ||
| Q3 24 | 1.86× | — | ||
| Q2 24 | 0.81× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
