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Side-by-side financial comparison of STARZ ENTERTAINMENT CORP (STRZ) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
STARZ ENTERTAINMENT CORP is the larger business by last-quarter revenue ($320.9M vs $173.1M, roughly 1.9× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -7.5%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-31.3M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -40.6%).
Starz Entertainment Corp., formerly known as Lions Gate Entertainment Corporation, or simply Lionsgate, is a Canadian-American entertainment company currently headquartered in Santa Monica, California. Founded by Frank Giustra on July 10, 1997, it is/was domiciled and incorporated in Vancouver, British Columbia.
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.
STRZ vs VRNS — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $320.9M | $173.1M |
| Net Profit | $-52.6M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | -10.8% | -1.7% |
| Net Margin | -16.4% | — |
| Revenue YoY | -7.5% | 26.9% |
| Net Profit YoY | -71.9% | — |
| EPS (diluted) | $-3.15 | — |
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 | $320.9M | $161.6M | ||
| Q2 25 | $319.7M | $152.2M | ||
| Q1 25 | — | $136.4M | ||
| Q4 24 | $970.5M | $158.5M | ||
| Q3 24 | $346.9M | $148.1M | ||
| Q2 24 | $347.6M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-27.8M | ||
| Q3 25 | $-52.6M | $-29.9M | ||
| Q2 25 | $-42.5M | $-35.8M | ||
| Q1 25 | — | $-35.8M | ||
| Q4 24 | $-21.9M | $-13.0M | ||
| Q3 24 | $-30.6M | $-18.3M | ||
| Q2 24 | $4.2M | $-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 | — | -17.5% | ||
| Q3 25 | -10.8% | -22.2% | ||
| Q2 25 | -8.4% | -24.0% | ||
| Q1 25 | — | -32.1% | ||
| Q4 24 | 3.7% | -11.1% | ||
| Q3 24 | -4.9% | -16.0% | ||
| Q2 24 | 2.9% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | -16.4% | -18.5% | ||
| Q2 25 | -13.3% | -23.5% | ||
| Q1 25 | — | -26.2% | ||
| Q4 24 | -2.3% | -8.2% | ||
| Q3 24 | -8.8% | -12.4% | ||
| Q2 24 | 1.2% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.23 | ||
| Q3 25 | $-3.15 | $-0.26 | ||
| Q2 25 | $-2.54 | $-0.32 | ||
| Q1 25 | — | $-0.32 | ||
| Q4 24 | $-0.09 | $-0.12 | ||
| Q3 24 | $-1.83 | $-0.16 | ||
| Q2 24 | $0.26 | $-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 | $37.0M | $179.3M |
| Total DebtLower is stronger | $608.7M | — |
| Stockholders' EquityBook value | $663.2M | $453.5M |
| Total Assets | $2.0B | $1.6B |
| Debt / EquityLower = less leverage | 0.92× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | — | $883.7M | ||
| Q3 25 | $37.0M | $671.3M | ||
| Q2 25 | $51.6M | $770.9M | ||
| Q1 25 | — | $567.6M | ||
| Q4 24 | $200.5M | $529.0M | ||
| Q3 24 | $229.6M | $844.8M | ||
| Q2 24 | $192.5M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $608.7M | — | ||
| Q2 25 | $611.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.5B | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | — | $598.7M | ||
| Q3 25 | $663.2M | $604.8M | ||
| Q2 25 | $712.3M | $341.5M | ||
| Q1 25 | — | $367.7M | ||
| Q4 24 | $-168.3M | $455.7M | ||
| Q3 24 | $935.9M | $428.6M | ||
| Q2 24 | $973.1M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.1B | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $7.2B | $1.7B | ||
| Q3 24 | $7.1B | $1.5B | ||
| Q2 24 | $7.2B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.92× | — | ||
| Q2 25 | 0.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.24× | — | ||
| Q2 24 | 1.59× | — |
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 | $-26.1M | $55.0M |
| Free Cash FlowOCF − Capex | $-31.3M | $49.0M |
| FCF MarginFCF / Revenue | -9.8% | 28.3% |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-317.7M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | — | $24.7M | ||
| Q3 25 | $-26.1M | $33.4M | ||
| Q2 25 | $65.4M | $21.3M | ||
| Q1 25 | — | $68.0M | ||
| Q4 24 | $-335.3M | $24.3M | ||
| Q3 24 | $9.1M | $22.5M | ||
| Q2 24 | $-33.5M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | $-31.3M | $30.4M | ||
| Q2 25 | $58.5M | $18.0M | ||
| Q1 25 | — | $65.7M | ||
| Q4 24 | $-349.3M | $19.9M | ||
| Q3 24 | $4.4M | $21.3M | ||
| Q2 24 | $-38.4M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | -9.8% | 18.8% | ||
| Q2 25 | 18.3% | 11.8% | ||
| Q1 25 | — | 48.1% | ||
| Q4 24 | -36.0% | 12.6% | ||
| Q3 24 | 1.3% | 14.4% | ||
| Q2 24 | -11.0% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 2.2% | 2.2% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | 1.4% | 0.8% | ||
| Q2 24 | 1.4% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -7.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STRZ
| Over The Top Subscription Service OTT | $222.8M | 69% |
| Linear Subscription Service | $98.1M | 31% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
