AppFolio, Inc. vs VARONIS SYSTEMS INC
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 2—VRNS: 3wins
Rule of 40
40.6APPF
75.4VRNS
check_circleVRNS leads
Revenue Growth
29.5%APPF
25.5%VRNS
check_circleAPPF leads
Gross Margin
87%APPF
182%VRNS
check_circleVRNS leads
FCF Margin
11.2%APPF
49.9%VRNS
check_circleVRNS leads
Operating Margin
17.4%APPF
-54.2%VRNS
check_circleAPPF leads
NRR
—APPF
—VRNS
Metric
Rule of 40Efficiency score
APPF
40.6
VRNS
75.4check_circle
Revenue GrowthYoY
APPF
29.5%check_circle
VRNS
25.5%
Gross Margin% of revenue
APPF
87%
VRNS
182%check_circle
FCF MarginFree cash flow
APPF
11.2%
VRNS
49.9%check_circle
Operating MarginGAAP
APPF
17.4%check_circle
VRNS
-54.2%
NRRNet retention
APPF
N/A
VRNS
N/A
EV / RevenueValuation multiple
APPF
6.3xcheck_circle
VRNS
11.6x
Market CapUSD
APPF
$6.4Bcheck_circle
VRNS
$3.3B
ARR GrowthYoY
APPF
N/A
VRNS
N/A
CAC PaybackMonths to recover
APPF
N/A
VRNS
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 6.3x EV/Revenue versus VARONIS SYSTEMS INC at 11.6x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to VARONIS SYSTEMS INC's 75.4, placing VARONIS SYSTEMS INC ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs VARONIS SYSTEMS INC 182%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.