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Side-by-side financial comparison of TACTILE SYSTEMS TECHNOLOGY INC (TCMD) 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 $103.6M, roughly 1.7× TACTILE SYSTEMS TECHNOLOGY INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 21.0%). VARONIS SYSTEMS INC produced more free cash flow last quarter ($49.0M vs $16.8M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% CAGR vs 15.2%).
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
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.
TCMD vs VRNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $103.6M | $173.1M |
| Net Profit | $10.6M | — |
| Gross Margin | 78.2% | 76.0% |
| Operating Margin | 18.1% | -1.7% |
| Net Margin | 10.3% | — |
| Revenue YoY | 21.0% | 26.9% |
| Net Profit YoY | 9.4% | — |
| EPS (diluted) | $0.45 | — |
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 | $103.6M | $173.4M | ||
| Q3 25 | $85.8M | $161.6M | ||
| Q2 25 | $78.9M | $152.2M | ||
| Q1 25 | $61.3M | $136.4M | ||
| Q4 24 | $85.6M | $158.5M | ||
| Q3 24 | $73.1M | $148.1M | ||
| Q2 24 | $73.2M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $10.6M | $-27.8M | ||
| Q3 25 | $8.2M | $-29.9M | ||
| Q2 25 | $3.2M | $-35.8M | ||
| Q1 25 | $-3.0M | $-35.8M | ||
| Q4 24 | $9.7M | $-13.0M | ||
| Q3 24 | $5.2M | $-18.3M | ||
| Q2 24 | $4.3M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 78.2% | 78.9% | ||
| Q3 25 | 75.8% | 78.2% | ||
| Q2 25 | 74.5% | 79.5% | ||
| Q1 25 | 74.0% | 78.7% | ||
| Q4 24 | 75.2% | 83.6% | ||
| Q3 24 | 75.0% | 83.8% | ||
| Q2 24 | 73.9% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | 18.1% | -17.5% | ||
| Q3 25 | 12.8% | -22.2% | ||
| Q2 25 | 5.2% | -24.0% | ||
| Q1 25 | -7.4% | -32.1% | ||
| Q4 24 | 14.6% | -11.1% | ||
| Q3 24 | 9.3% | -16.0% | ||
| Q2 24 | 8.0% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 10.3% | -16.0% | ||
| Q3 25 | 9.6% | -18.5% | ||
| Q2 25 | 4.1% | -23.5% | ||
| Q1 25 | -4.9% | -26.2% | ||
| Q4 24 | 11.4% | -8.2% | ||
| Q3 24 | 7.1% | -12.4% | ||
| Q2 24 | 5.9% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.45 | $-0.23 | ||
| Q3 25 | $0.36 | $-0.26 | ||
| Q2 25 | $0.14 | $-0.32 | ||
| Q1 25 | $-0.13 | $-0.32 | ||
| Q4 24 | $0.40 | $-0.12 | ||
| Q3 24 | $0.21 | $-0.16 | ||
| Q2 24 | $0.18 | $-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 | $83.4M | $179.3M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $218.9M | $453.5M |
| Total Assets | $273.9M | $1.6B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $83.4M | $883.7M | ||
| Q3 25 | $66.0M | $671.3M | ||
| Q2 25 | $81.5M | $770.9M | ||
| Q1 25 | $83.6M | $567.6M | ||
| Q4 24 | $94.4M | $529.0M | ||
| Q3 24 | $82.1M | $844.8M | ||
| Q2 24 | $73.6M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $0 | — | ||
| Q3 25 | $0 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $27.0M | — | ||
| Q2 24 | $27.8M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $218.9M | $598.7M | ||
| Q3 25 | $204.9M | $604.8M | ||
| Q2 25 | $194.9M | $341.5M | ||
| Q1 25 | $205.6M | $367.7M | ||
| Q4 24 | $216.6M | $455.7M | ||
| Q3 24 | $207.9M | $428.6M | ||
| Q2 24 | $200.7M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $273.9M | $1.8B | ||
| Q3 25 | $259.2M | $1.7B | ||
| Q2 25 | $273.0M | $1.6B | ||
| Q1 25 | $280.2M | $1.6B | ||
| Q4 24 | $297.9M | $1.7B | ||
| Q3 24 | $287.7M | $1.5B | ||
| Q2 24 | $278.8M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — |
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 | $17.3M | $55.0M |
| Free Cash FlowOCF − Capex | $16.8M | $49.0M |
| FCF MarginFCF / Revenue | 16.2% | 28.3% |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $40.4M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $17.3M | $24.7M | ||
| Q3 25 | $10.3M | $33.4M | ||
| Q2 25 | $14.8M | $21.3M | ||
| Q1 25 | $417.0K | $68.0M | ||
| Q4 24 | $16.3M | $24.3M | ||
| Q3 24 | $10.3M | $22.5M | ||
| Q2 24 | $13.1M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $16.8M | $20.7M | ||
| Q3 25 | $9.2M | $30.4M | ||
| Q2 25 | $14.4M | $18.0M | ||
| Q1 25 | $38.0K | $65.7M | ||
| Q4 24 | $15.9M | $19.9M | ||
| Q3 24 | $9.3M | $21.3M | ||
| Q2 24 | $12.6M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 16.2% | 12.0% | ||
| Q3 25 | 10.8% | 18.8% | ||
| Q2 25 | 18.2% | 11.8% | ||
| Q1 25 | 0.1% | 48.1% | ||
| Q4 24 | 18.5% | 12.6% | ||
| Q3 24 | 12.7% | 14.4% | ||
| Q2 24 | 17.3% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.3% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 0.5% | 2.2% | ||
| Q1 25 | 0.6% | 1.7% | ||
| Q4 24 | 0.5% | 2.7% | ||
| Q3 24 | 1.3% | 0.8% | ||
| Q2 24 | 0.7% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.68× | — | ||
| Q3 24 | 1.99× | — | ||
| Q2 24 | 3.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
