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Varonis Systems vs JFrog: VRNS and FROG compared
Varonis Systems is the larger company: $189M of revenue in its latest quarter (Q3 2026) against $179M for JFrog (Q3 2026). JFrog is growing faster (+31% against +17% a year earlier). JFrog is more profitable, with an operating margin of -1.0% against -25.2%.
Where the money goes: VRNS and FROG
Varonis Systems (VRNS) · Q3 2026
Varonis Systems, Q3 2026: revenue $189M (+17% year over year), operating margin -25.2%, net loss $41.6M, operating cash flow $28.2M. The chart follows the revenue to costs, profit and cash.
JFrog (FROG) · Q3 2026
JFrog, Q3 2026: revenue $179M (+31% year over year), operating margin -1.0%, net earnings $6.6M, operating cash flow $69.3M. The chart follows the revenue to costs, profit and cash.
| Varonis Systems (VRNS) | JFrog (FROG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $189M | $179M |
| Revenue growth, Y/Y | +17% | +31% |
| Operating margin | -25.2% | -1.0% |
| Net earnings | −$41.6M | $6.6M |
| Net margin | -22.0% | 3.7% |
| Operating cash flow | $28.2M | $69.3M |
| Free cash flow | $26.6M | $66.5M |
| Market value | $5.6B | — |
| Analysts’ mean target | $50.14 | — |
Where the revenue comes from
Varonis Systems
- SaaS: $185M (98%)
- Maintenance and services: $3.1M (2%)
- Term license subscriptions: $1.2M (1%)
JFrog
- Subscription Self-Managed and Saa S: $172M (96%)
- License: $7.6M (4%)
Questions
Which is bigger, Varonis Systems or JFrog?
Varonis Systems is the larger company: $189M of revenue in its latest quarter (Q3 2026) against $179M for JFrog (Q3 2026).
Is Varonis Systems or JFrog growing faster?
JFrog is growing faster (+31% against +17% a year earlier).
Which is more profitable, Varonis Systems or JFrog?
JFrog is more profitable, with an operating margin of -1.0% against -25.2%.
More: Varonis Systems earnings · how Varonis Systems makes money · JFrog earnings · how JFrog makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.