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Side-by-side financial comparison of BRAND HOUSE COLLECTIVE, INC. (TBHC) 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 $103.5M, roughly 1.7× BRAND HOUSE COLLECTIVE, INC.). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs -9.6%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $-26.8M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs -21.0%).
Soho House is an international private members’ club with a focus on the media, arts and fashion industries.
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.
TBHC vs VRNS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $103.5M | $173.1M |
| Net Profit | $-3.7M | — |
| Gross Margin | 20.4% | 76.0% |
| Operating Margin | -1.9% | — |
| Net Margin | -3.6% | — |
| Revenue YoY | -9.6% | 26.9% |
| Net Profit YoY | 51.8% | — |
| EPS (diluted) | $-0.16 | $115788061.00 |
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 | $103.5M | $173.4M | ||
| Q3 25 | $75.8M | $161.6M | ||
| Q2 25 | $81.5M | $152.2M | ||
| Q1 25 | $148.9M | $136.4M | ||
| Q4 24 | $114.4M | $158.5M | ||
| Q3 24 | $86.3M | $148.1M | ||
| Q2 24 | $91.8M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-3.7M | $-27.8M | ||
| Q3 25 | $-20.2M | $-29.9M | ||
| Q2 25 | $-11.8M | $-35.8M | ||
| Q1 25 | $7.9M | $-35.8M | ||
| Q4 24 | $-7.7M | $-13.0M | ||
| Q3 24 | $-14.5M | $-18.3M | ||
| Q2 24 | $-8.8M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 20.4% | 78.9% | ||
| Q3 25 | 16.3% | 78.2% | ||
| Q2 25 | 24.9% | 79.5% | ||
| Q1 25 | 30.3% | 78.7% | ||
| Q4 24 | 28.1% | 83.6% | ||
| Q3 24 | 20.5% | 83.8% | ||
| Q2 24 | 29.5% | 82.8% |
| Q1 26 | — | — | ||
| Q4 25 | -1.9% | -17.5% | ||
| Q3 25 | -24.7% | -22.2% | ||
| Q2 25 | -12.9% | -24.0% | ||
| Q1 25 | 6.2% | -32.1% | ||
| Q4 24 | -2.1% | -11.1% | ||
| Q3 24 | -15.4% | -16.0% | ||
| Q2 24 | -8.2% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | -3.6% | -16.0% | ||
| Q3 25 | -26.6% | -18.5% | ||
| Q2 25 | -14.5% | -23.5% | ||
| Q1 25 | 5.3% | -26.2% | ||
| Q4 24 | -6.7% | -8.2% | ||
| Q3 24 | -16.8% | -12.4% | ||
| Q2 24 | -9.6% | -18.4% |
| Q1 26 | — | $115788061.00 | ||
| Q4 25 | $-0.16 | $-0.23 | ||
| Q3 25 | $-0.90 | $-0.26 | ||
| Q2 25 | $-0.54 | $-0.32 | ||
| Q1 25 | $0.61 | $-0.32 | ||
| Q4 24 | $-0.59 | $-0.12 | ||
| Q3 24 | $-1.11 | $-0.16 | ||
| Q2 24 | $-0.68 | $-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 | $6.5M | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-44.0M | $453.5M |
| Total Assets | $229.2M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $6.5M | $883.7M | ||
| Q3 25 | $3.6M | $671.3M | ||
| Q2 25 | $3.5M | $770.9M | ||
| Q1 25 | $3.8M | $567.6M | ||
| Q4 24 | $6.8M | $529.0M | ||
| Q3 24 | $4.5M | $844.8M | ||
| Q2 24 | $3.8M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $64.0M | — | ||
| Q4 24 | $85.8M | — | ||
| Q3 24 | $61.4M | — | ||
| Q2 24 | $47.5M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $-44.0M | $598.7M | ||
| Q3 25 | $-35.2M | $604.8M | ||
| Q2 25 | $-16.2M | $341.5M | ||
| Q1 25 | $-19.0M | $367.7M | ||
| Q4 24 | $-27.1M | $455.7M | ||
| Q3 24 | $-19.7M | $428.6M | ||
| Q2 24 | $-5.5M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $229.2M | $1.8B | ||
| Q3 25 | $221.9M | $1.7B | ||
| Q2 25 | $225.4M | $1.6B | ||
| Q1 25 | $242.2M | $1.6B | ||
| Q4 24 | $279.8M | $1.7B | ||
| Q3 24 | $266.2M | $1.5B | ||
| Q2 24 | $242.6M | $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 | $-25.9M | $55.0M |
| Free Cash FlowOCF − Capex | $-26.8M | $49.0M |
| FCF MarginFCF / Revenue | -25.9% | 28.3% |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-18.9M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-25.9M | $24.7M | ||
| Q3 25 | $-7.0M | $33.4M | ||
| Q2 25 | $-3.1M | $21.3M | ||
| Q1 25 | $19.8M | $68.0M | ||
| Q4 24 | $-12.6M | $24.3M | ||
| Q3 24 | $-12.7M | $22.5M | ||
| Q2 24 | $-13.7M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-26.8M | $20.7M | ||
| Q3 25 | $-7.4M | $30.4M | ||
| Q2 25 | $-3.6M | $18.0M | ||
| Q1 25 | $19.0M | $65.7M | ||
| Q4 24 | $-13.1M | $19.9M | ||
| Q3 24 | $-13.2M | $21.3M | ||
| Q2 24 | $-14.4M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | -25.9% | 12.0% | ||
| Q3 25 | -9.8% | 18.8% | ||
| Q2 25 | -4.5% | 11.8% | ||
| Q1 25 | 12.8% | 48.1% | ||
| Q4 24 | -11.5% | 12.6% | ||
| Q3 24 | -15.2% | 14.4% | ||
| Q2 24 | -15.7% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 2.3% | ||
| Q3 25 | 0.6% | 1.8% | ||
| Q2 25 | 0.7% | 2.2% | ||
| Q1 25 | 0.5% | 1.7% | ||
| Q4 24 | 0.4% | 2.7% | ||
| Q3 24 | 0.5% | 0.8% | ||
| Q2 24 | 0.8% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TBHC
Segment breakdown not available.
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
