COMP <GO>

OCTV vs VRNS // RETURN ON INVESTED CAPITAL (ROIC)

Octave Intelligence plc (Class B) (NASDAQ) VS. Varonis Systems Inc. (NASDAQ) • 15-METRIC TALLY: OCTV 2 — VRNS 0

■ METRIC PARITY

LAST: $21.16 (-2.53%) • MKT CAP: $5.83B

roic

—

LAST: $48.75 (-0.20%) • MKT CAP: $5.61B

roic

-15.30%

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (OCTV VS. VRNS) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	OCTV	VRNS	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	78.80%	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC) ACTIVE	—	-15.30%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	2.40%	—	TIE	/fcf-yield <GO>
Operating Margin	—	-23.50%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	-20.70%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	4.40%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	3.74	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	—	7/9	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	62.7	54.7	+8.00	OCTV	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	1.31	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	26.0x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$5.83B	$5.61B	$216.8M	OCTV	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	OCTV REV	VRNS REV	OCTV GROSS %	VRNS GROSS %	OCTV FCF	VRNS FCF
FY 2025	$3.65B	$623.5M	—	78.8%	—	$134.8M
FY 2024	—	$551.0M	—	83.0%	—	$108.5M
FY 2023	—	$328.2M	—	—	—	$59.4M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

OCTV // BETA —

VRNS // BETA 1.31