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Side-by-side financial comparison of VARONIS SYSTEMS INC (VRNS) and Wingstop Inc. (WING). Click either name above to swap in a different company.
Wingstop Inc. is the larger business by last-quarter revenue ($183.7M vs $173.1M, roughly 1.1× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 7.4%). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 8.6%).
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.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
VRNS vs WING — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $173.1M | $183.7M |
| Net Profit | — | $29.9M |
| Gross Margin | 76.0% | 86.5% |
| Operating Margin | -1.7% | 27.4% |
| Net Margin | — | 16.3% |
| Revenue YoY | 26.9% | 7.4% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $1.08 |
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 | $183.7M | ||
| Q4 25 | $173.4M | $175.7M | ||
| Q3 25 | $161.6M | $175.7M | ||
| Q2 25 | $152.2M | $174.3M | ||
| Q1 25 | $136.4M | $171.1M | ||
| Q4 24 | $158.5M | $161.8M | ||
| Q3 24 | $148.1M | $162.5M | ||
| Q2 24 | $130.3M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $-27.8M | $26.8M | ||
| Q3 25 | $-29.9M | $28.5M | ||
| Q2 25 | $-35.8M | $26.8M | ||
| Q1 25 | $-35.8M | $92.3M | ||
| Q4 24 | $-13.0M | $26.8M | ||
| Q3 24 | $-18.3M | $25.7M | ||
| Q2 24 | $-23.9M | $27.5M |
| Q1 26 | 76.0% | 86.5% | ||
| Q4 25 | 78.9% | — | ||
| Q3 25 | 78.2% | — | ||
| Q2 25 | 79.5% | — | ||
| Q1 25 | 78.7% | — | ||
| Q4 24 | 83.6% | 85.6% | ||
| Q3 24 | 83.8% | 85.0% | ||
| Q2 24 | 82.8% | 85.4% |
| Q1 26 | -1.7% | 27.4% | ||
| Q4 25 | -17.5% | 26.7% | ||
| Q3 25 | -22.2% | 27.9% | ||
| Q2 25 | -24.0% | 25.9% | ||
| Q1 25 | -32.1% | 22.4% | ||
| Q4 24 | -11.1% | 25.9% | ||
| Q3 24 | -16.0% | 24.5% | ||
| Q2 24 | -22.1% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | -16.0% | 15.2% | ||
| Q3 25 | -18.5% | 16.2% | ||
| Q2 25 | -23.5% | 15.4% | ||
| Q1 25 | -26.2% | 53.9% | ||
| Q4 24 | -8.2% | 16.5% | ||
| Q3 24 | -12.4% | 15.8% | ||
| Q2 24 | -18.4% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-0.23 | $0.99 | ||
| Q3 25 | $-0.26 | $1.02 | ||
| Q2 25 | $-0.32 | $0.96 | ||
| Q1 25 | $-0.32 | $3.24 | ||
| Q4 24 | $-0.12 | $0.91 | ||
| Q3 24 | $-0.16 | $0.88 | ||
| Q2 24 | $-0.21 | $0.93 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $179.3M | $128.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $453.5M | — |
| Total Assets | $1.6B | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $179.3M | $128.8M | ||
| Q4 25 | $883.7M | $196.6M | ||
| Q3 25 | $671.3M | $237.6M | ||
| Q2 25 | $770.9M | $227.9M | ||
| Q1 25 | $567.6M | $251.4M | ||
| Q4 24 | $529.0M | $315.9M | ||
| Q3 24 | $844.8M | $84.0M | ||
| Q2 24 | $582.5M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $453.5M | — | ||
| Q4 25 | $598.7M | $-736.8M | ||
| Q3 25 | $604.8M | $-702.6M | ||
| Q2 25 | $341.5M | $-686.0M | ||
| Q1 25 | $367.7M | $-715.0M | ||
| Q4 24 | $455.7M | $-675.6M | ||
| Q3 24 | $428.6M | $-447.5M | ||
| Q2 24 | $458.6M | $-437.5M |
| Q1 26 | $1.6B | $648.9M | ||
| Q4 25 | $1.8B | $693.4M | ||
| Q3 25 | $1.7B | $721.0M | ||
| Q2 25 | $1.6B | $708.3M | ||
| Q1 25 | $1.6B | $696.8M | ||
| Q4 24 | $1.7B | $716.2M | ||
| Q3 24 | $1.5B | $484.8M | ||
| Q2 24 | $1.1B | $451.8M |
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 | $55.0M | — |
| Free Cash FlowOCF − Capex | $49.0M | — |
| FCF MarginFCF / Revenue | 28.3% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $55.0M | — | ||
| Q4 25 | $24.7M | $57.3M | ||
| Q3 25 | $33.4M | $63.9M | ||
| Q2 25 | $21.3M | $6.6M | ||
| Q1 25 | $68.0M | $25.3M | ||
| Q4 24 | $24.3M | $7.7M | ||
| Q3 24 | $22.5M | $69.0M | ||
| Q2 24 | $11.7M | $36.2M |
| Q1 26 | $49.0M | — | ||
| Q4 25 | $20.7M | $34.5M | ||
| Q3 25 | $30.4M | $61.7M | ||
| Q2 25 | $18.0M | $-7.8M | ||
| Q1 25 | $65.7M | $17.3M | ||
| Q4 24 | $19.9M | $-8.6M | ||
| Q3 24 | $21.3M | $54.9M | ||
| Q2 24 | $10.9M | $25.9M |
| Q1 26 | 28.3% | — | ||
| Q4 25 | 12.0% | 19.6% | ||
| Q3 25 | 18.8% | 35.1% | ||
| Q2 25 | 11.8% | -4.5% | ||
| Q1 25 | 48.1% | 10.1% | ||
| Q4 24 | 12.6% | -5.3% | ||
| Q3 24 | 14.4% | 33.8% | ||
| Q2 24 | 8.4% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | 13.0% | ||
| Q3 25 | 1.8% | 1.3% | ||
| Q2 25 | 2.2% | 8.2% | ||
| Q1 25 | 1.7% | 4.7% | ||
| Q4 24 | 2.7% | 10.1% | ||
| Q3 24 | 0.8% | 8.7% | ||
| Q2 24 | 0.6% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | — | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
