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Side-by-side financial comparison of Service Properties Trust (SVC) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
Service Properties Trust is the larger business by last-quarter revenue ($296.5M vs $173.1M, roughly 1.7× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -17.0%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-95.2M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -6.1%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
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.
SVC vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $296.5M | $173.1M |
| Net Profit | $-782.0K | — |
| Gross Margin | — | 76.0% |
| Operating Margin | -3.9% | -1.7% |
| Net Margin | -0.3% | — |
| Revenue YoY | -17.0% | 26.9% |
| Net Profit YoY | 99.0% | — |
| 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 | $296.5M | $173.4M | ||
| Q3 25 | $377.6M | $161.6M | ||
| Q2 25 | $404.4M | $152.2M | ||
| Q1 25 | $335.0M | $136.4M | ||
| Q4 24 | $357.0M | $158.5M | ||
| Q3 24 | $390.9M | $148.1M | ||
| Q2 24 | $412.5M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-782.0K | $-27.8M | ||
| Q3 25 | $-46.9M | $-29.9M | ||
| Q2 25 | $-38.2M | $-35.8M | ||
| Q1 25 | $-116.4M | $-35.8M | ||
| Q4 24 | $-76.4M | $-13.0M | ||
| Q3 24 | $-46.9M | $-18.3M | ||
| Q2 24 | $-73.8M | $-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 | -3.9% | -17.5% | ||
| Q3 25 | -12.8% | -22.2% | ||
| Q2 25 | -9.2% | -24.0% | ||
| Q1 25 | -33.3% | -32.1% | ||
| Q4 24 | -19.4% | -11.1% | ||
| Q3 24 | -12.8% | -16.0% | ||
| Q2 24 | -17.1% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -0.3% | -16.0% | ||
| Q3 25 | -12.4% | -18.5% | ||
| Q2 25 | -9.4% | -23.5% | ||
| Q1 25 | -34.8% | -26.2% | ||
| Q4 24 | -21.4% | -8.2% | ||
| Q3 24 | -12.0% | -12.4% | ||
| Q2 24 | -17.9% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.01 | $-0.23 | ||
| Q3 25 | $-0.28 | $-0.26 | ||
| Q2 25 | $-0.23 | $-0.32 | ||
| Q1 25 | $-0.70 | $-0.32 | ||
| Q4 24 | $-0.46 | $-0.12 | ||
| Q3 24 | $-0.28 | $-0.16 | ||
| Q2 24 | $-0.45 | $-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 | $346.8M | $179.3M |
| Total DebtLower is stronger | $5.5B | — |
| Stockholders' EquityBook value | $646.1M | $453.5M |
| Total Assets | $6.5B | $1.6B |
| Debt / EquityLower = less leverage | 8.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $346.8M | $883.7M | ||
| Q3 25 | $417.4M | $671.3M | ||
| Q2 25 | $63.2M | $770.9M | ||
| Q1 25 | $80.1M | $567.6M | ||
| Q4 24 | $143.5M | $529.0M | ||
| Q3 24 | $48.6M | $844.8M | ||
| Q2 24 | $14.6M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $646.1M | $598.7M | ||
| Q3 25 | $647.9M | $604.8M | ||
| Q2 25 | $695.9M | $341.5M | ||
| Q1 25 | $734.6M | $367.7M | ||
| Q4 24 | $851.9M | $455.7M | ||
| Q3 24 | $929.0M | $428.6M | ||
| Q2 24 | $1.0B | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $6.5B | $1.8B | ||
| Q3 25 | $7.0B | $1.7B | ||
| Q2 25 | $6.9B | $1.6B | ||
| Q1 25 | $7.0B | $1.6B | ||
| Q4 24 | $7.1B | $1.7B | ||
| Q3 24 | $7.1B | $1.5B | ||
| Q2 24 | $7.1B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 8.52× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.85× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-18.5M | $55.0M |
| Free Cash FlowOCF − Capex | $-95.2M | $49.0M |
| FCF MarginFCF / Revenue | -32.1% | 28.3% |
| Capex IntensityCapex / Revenue | 25.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-107.0M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-18.5M | $24.7M | ||
| Q3 25 | $98.1M | $33.4M | ||
| Q2 25 | $-7.0K | $21.3M | ||
| Q1 25 | $38.2M | $68.0M | ||
| Q4 24 | $-9.7M | $24.3M | ||
| Q3 24 | $106.2M | $22.5M | ||
| Q2 24 | $43.8M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-95.2M | $20.7M | ||
| Q3 25 | $57.9M | $30.4M | ||
| Q2 25 | $-46.6M | $18.0M | ||
| Q1 25 | $-23.2M | $65.7M | ||
| Q4 24 | $-88.9M | $19.9M | ||
| Q3 24 | $24.1M | $21.3M | ||
| Q2 24 | $-22.3M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -32.1% | 12.0% | ||
| Q3 25 | 15.3% | 18.8% | ||
| Q2 25 | -11.5% | 11.8% | ||
| Q1 25 | -6.9% | 48.1% | ||
| Q4 24 | -24.9% | 12.6% | ||
| Q3 24 | 6.2% | 14.4% | ||
| Q2 24 | -5.4% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 25.9% | 2.3% | ||
| Q3 25 | 10.6% | 1.8% | ||
| Q2 25 | 11.5% | 2.2% | ||
| Q1 25 | 18.3% | 1.7% | ||
| Q4 24 | 22.2% | 2.7% | ||
| Q3 24 | 21.0% | 0.8% | ||
| Q2 24 | 16.0% | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SVC
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
