Financial Data and Key Metrics Changes - In Q1 2023, the company reported revenues of $107.3 million, representing a 12% year-over-year increase [38] - Annual Recurring Revenue (ARR) grew 18% year-over-year to $478.1 million [10][35] - Free cash flow for the quarter was $35.7 million, up from $21 million in the same period last year [35][43] - The gross margin improved to 86.5% compared to 85.6% in Q1 2022 [40] - The net loss for Q1 2023 was $0.1 million, a significant improvement from a net loss of $10.2 million in Q1 2022 [42] Business Line Data and Key Metrics Changes - The SaaS mix for the quarter was 37%, significantly higher than the guidance of 15% [10][29] - Subscription revenues were $83 million, while maintenance and services revenues were $24.4 million, with renewal rates exceeding 90% [39] - The ARR contribution margin increased to 5.6%, up from 4.1% last year [41] Market Data and Key Metrics Changes - In North America, revenues grew 18% to $81.2 million, accounting for 76% of total revenues [39] - EMEA revenues declined 5% to $22.9 million, impacted by a 7% currency headwind [39][102] - Revenues from the Rest of the World grew 9% to $3.2 million [39] Company Strategy and Development Direction - The company is focused on transitioning to a SaaS model, which is expected to provide faster time to value and lower total cost of ownership for customers [11][34] - The management is optimistic about the ongoing SaaS journey and the positive reception from customers [9][25] - The company is raising its SaaS mix and ARR guidance based on strong initial adoption and pipeline expectations [26][45] Management's Comments on Operating Environment and Future Outlook - The management noted that the economic slowdown is impacting customer purchasing patterns, leading to longer sales cycles and increased deal scrutiny [36][49] - Despite the macro challenges, the company believes that data security remains a secular trend, and the SaaS offering is well-positioned to meet customer needs [61] - The management expressed confidence in the transition to SaaS and its potential to drive future growth [48] Other Important Information - The company ended Q1 2023 with $756.3 million in cash and equivalents [43] - The company repurchased 100,000 shares at an average price of $25.19, with $41 million remaining on its share repurchase authorization [44] Q&A Session Summary Question: What is the standard uplift seen when customers convert to SaaS? - The CEO indicated that a 25% to 30% uplift is typical when customers convert to SaaS, with expectations for customers to purchase more bundles [55] Question: Did the macro environment worsen in Q1 compared to Q4? - The CEO stated that the macro environment remained challenging but consistent with previous quarters, with customers focusing on ROI for data protection [58] Question: What is the early feedback regarding feature parity between SaaS and on-prem products? - The CEO mentioned that new customers find the SaaS offering superior, while existing customers are seeing rapid improvements to narrow any gaps [64] Question: What is the renewal rate and conversion outlook for Q2? - The CFO confirmed a renewal rate over 90% and noted increased renewal conversions in the pipeline for Q2, with over $1 million baked into the guidance [68] Question: How is the shift to SaaS impacting the sales pipeline? - The CEO noted that the SaaS model resonates better with customers, eliminating hardware concerns and reducing the need for extensive personnel [84][85] Question: What factors influenced customers' decisions to convert to SaaS? - The CEO explained that customers recognize the benefits of SaaS features, leading to voluntary conversions, while timing and feature availability remain considerations [80]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-K _____________________ for the transition period from to Commission file number: 001-36324 ________________________ VARONIS SYSTEMS, INC. (Exact name of registrant as specified in its charter) _____________________________ (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ For the transition period from to Commission File Number: 001-36324 ____________________ VARONIS SYSTEMS, INC. (Exact name of registrant as specified in its charter) ____________________ Delaware 57-1222280 (State or other jurisdiction of incorporation or organization) FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly ...

Call Start: 16:30 January 1, 0000 5:12 PM ET Varonis Systems, Inc. (NASDAQ:VRNS) Q2 2022 Earnings Conference Call August 1, 2022 16:30 ET Company Participants James Arestia - Vice President of Investor Relations Yaki Faitelson - Co-Founder, President & Chief Executive Officer Guy Melamed - Chief Financial Officer & Chief Operating Officer Conference Call Participants Matt Hedberg - RBC Capital Markets Joseph Gallo - Jefferies Fatima Boolani - Citigroup Joel Fishbein - Truist Securities Rob Owens - Piper San ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36324 ____________________ VARONIS SYSTEMS, INC. (Exact name of registrant as specifi ...

VARONIS Varonis Overview Q1 2022 Safe Harbor Statement This presentation has been prepared by Varonis Systems, Inc. (the "Company") solely for informational purposes. It is not, and should not be assumed to be, complete. This presentation is not an offer to sell securities, nor is it a solicitation of an offer to buy securities. This presentation is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-K _____________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the Fiscal Year Ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission file number: 001-36324 ________________________ VARONIS SYSTEMS, INC. (Exact name of registrant as specif ...

VARONIS Varonis Overview Q4 2021 Safe Harbor Statement This presentation has been prepared by Varonis Systems, Inc. (the "Company") solely for informational purposes. It is not, and should not be assumed to be, complete. This presentation is not an offer to sell securities, nor is it a solicitation of an offer to buy securities. This presentation is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or oth ...

Varonis Systems, Inc. (NASDAQ:VRNS) Q4 2021 Earnings Conference Call February 7, 2022 4:30 PM ET Company Participants James Arestia - Vice President of Investor Relations Yakov Faitelson - Co-Founder, Chairman, Chief Executive Officer & President Guy Melamed - Chief Financial Officer & Chief Operating Officer Conference Call Participants Matt Hedberg - RBC Capital Sterling Auty - JPMorgan Joe Gallo - Jefferies Rob Owens - Piper Sandler Joel Fishbein - Truist Fatima Boolani - Citi Roger Boyd - UBS Alex Hende ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36324 ____________________ VARONIS SYSTEMS, INC. (Exact name of registrant as spe ...