Varonis Systems VRNS reported better-than-expected second-quarter financial results and raised its FY24 guidance on Monday. Varonis raised its FY24 revenue guidance from $536 million – $546 million to $544 million – $552 million. The company boosted adjusted earnings outlook from 13 cents-16 cents per share to 22 cents-24 cents per share. Varonis Systems shares gained 0.1% to close at $48.49 on Monday. Read Next: Varonis Systems reported quarterly earnings of 5 cents per share which beat the analyst consens ...

Varonis Systems, Inc. (NASDAQ:VRNS) Q2 2024 Earnings Conference Call July 29, 2024 4:30 PM ET Company Participants Tim Perz - Director of Investor Relations Yaki Faitelson - Chief Executive Officer, President, Co-Founder & Chairman Guy Melamed - Chief Financial Officer & Chief Operating Officer Conference Call Participants Saket Kalia - Barclays Brian Essex - JPMorgan Joel Fishbein - Truist Securities Matt Hedberg - RBC Capital Markets Fatima Boolani - Citi Shaul Eyal - TD Cowen Andrew Nowinski - Wells Farg ...

This quarterly report represents an earnings surprise of 350%. A quarter ago, it was expected that this datamanagement software company would post a loss of $0.09 per share when it actually produced a loss of $0.03, delivering a surprise of 66.67%. Varonis, which belongs to the Zacks Security industry, posted revenues of $130.35 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.27%. This compares to year-ago revenues of $115.42 million. The company has topped consensus re ...

Revenue Growth and Performance - Annual recurring revenues (ARR) grew 18% year-over-year to $584.2 million as of the end of the second quarter[8] - The company expects full-year 2024 revenues of $140.0 million to $143.0 million, representing year-over-year growth of 14% to 17%[19] - Total revenues for the three months ended June 30, 2024, were $130.346 million, compared to $115.418 million in the same period in 2023, representing a 12.9% increase[26] - SaaS revenues for the six months ended June 30, 2024, were $78.770 million, a significant increase from $7.721 million in the same period in 2023[28] - Total revenues for the quarter were $130.3 million, compared to $115.4 million in the same quarter of the previous year[46] - SaaS revenues increased significantly to $44.8 million from $5.7 million in the second quarter of 2023[46] - Revenues are forecasted to be $544.0 million to $552.0 million, with a year-over-year growth of 9% to 11%[43] SaaS ARR and Expectations - SaaS ARR as a percentage of total ARR was approximately 36% at the end of Q2 2024[4] - The company raised its full-year SaaS ARR expectations to 48%[8] - ARR is projected to be $629.0 million to $635.0 million, representing a year-over-year growth of 16% to 17%[43] Cash Flow and Financial Position - Year-to-date cash from operations generated $68.4 million, compared to $42.6 million in the prior year period[8] - Year-to-date free cash flow generated $67.3 million, compared to $40.0 million in the prior year period[8] - The company had $790.3 million in cash and cash equivalents, short-term deposits, and marketable securities as of June 30, 2024[8] - Non-GAAP free cash flow for the six months ended June 30, 2024, was $67.3 million, compared to $40.0 million in the same period in 2023[34] - Free cash flow is expected to range between $80.0 million to $85.0 million[43] - Total current assets as of June 30, 2024, were $816.1 million, compared to $767.2 million as of December 31, 2023[42] Operating and Net Loss - Operating loss for the six months ended June 30, 2024, was $(76.5) million, compared to $(82.8) million in the prior year period[6] - Net loss for the six months ended June 30, 2024, was $(64.4) million, compared to $(77.0) million in the prior year period[6] - GAAP net loss for the six months ended June 30, 2024, was $(64.438) million, compared to $(77.001) million in the same period in 2023[33] - GAAP net loss per share of common stock for the six months ended June 30, 2024, was $(0.58), compared to $(0.71) in the same period in 2023[41] - GAAP operating loss improved to ($28.8) million from ($39.7) million in the second quarter of 2023[46] Non-GAAP Metrics - Non-GAAP net income per diluted share is expected to be in the range of $0.07 to $0.08 for full-year 2024[19] - Non-GAAP operating income for the three months ended June 30, 2024, was $2.068 million, compared to $0.913 million in the same period in 2023[40] - Non-GAAP net income for the three months ended June 30, 2024, was $6.762 million, compared to $1.090 million in the same period in 2023[41] - Non-GAAP operating income is anticipated to be $18.0 million to $21.0 million[43] - Non-GAAP net income per diluted share is estimated to be in the range of $0.22 to $0.24, based on 128.1 million diluted shares outstanding[43] - Non-GAAP operating income rose to $2.1 million from $0.9 million in the second quarter of 2023[46] Liabilities and Deferred Revenues - Deferred revenues as of June 30, 2024, were $208.907 million, compared to $181.049 million as of June 30, 2023[32] - Total current liabilities as of June 30, 2024, were $334.453 million, compared to $306.778 million as of June 30, 2023[32] Stock-Based Compensation - Stock-based compensation expense for the six months ended June 30, 2024, was $62.182 million, compared to $75.195 million in the same period in 2023[40]

Meet Varonis in Person: Join Varonis at booth #1250 to learn how Varonis' cloud-native Data Security Platform enables organizations to strengthen their data security posture and reduce their blast radius. Hear how Varonis identifies and mitigates threats, safeguards sensitive data, and uses automation to ensure compliance with privacy regulations. Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varoni ...

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 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 2024 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 Systems, Inc. (NASDAQ:VRNS) Q1 2024 Earnings Conference Call May 6, 2024 4:30 PM ET Company Participants Tim Perz - Director of Investor Relations Yaki Faitelson - Chief Executive Officer, President, Co Founder and Chairman Guy Melamed - Chief Financial Officer and Chief Operating Officer Conference Call Participants Saket Kalia - Barclays Matt Swanson - RBC Capital Markets Fatima Boolani - Citi Brian Essex - JPMorgan Roger Boyd - UBS Shaul Eyal - TD Cowen Annick Baumann - Jefferies Jason Ader - Wil ...

EXHIBIT 99.1 Annual recurring revenues grew 17% year-over-year SaaS ARR as a percentage of total ARR was approximately 30% Year-to-date cash from operations generated $56.7 million vs. $36.8 million last year Year-to-date free cash flow generated $56.4 million vs. $35.7 million last year NEW YORK, May 06, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced financial results for the first quarter ended March 31, 2024. Yaki Faitelson, Varonis CEO, said, "O ...

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, 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ (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, 2023 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 specified in its charter) ________ ...