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]

In its upcoming report, Varonis Systems (VRNS) is predicted by Wall Street analysts to post quarterly loss of $0.02 per share, reflecting a decline of 300% compared to the same period last year. Revenues are forecasted to be $125.01 million, representing a year-over-year increase of 8.3%. The consensus EPS estimate for the quarter has undergone an upward revision of 1.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initia ...

Expert Session — How to Safely Deploy AI Copilots. As AI makes it increasingly easier to find and use enterprise data, ensuring users can't access what they don't need is more important than ever. Varonis Field CTO Brian Vecci will share an operational plan to deploy Microsoft Copilot quickly while minimizing risk. Date: Wednesday, August 7 at 10:55 a.m. Location: Theater D Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environ ...

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 ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This data-management software company is expect ...

In conjunction with this announcement, Varonis will host a conference call Monday, July 29, 2024, at 4:30 p.m. ET to discuss the company's financial results. A live webcast of this conference call will be available on the "Investor Relations" page of the company's website (https://ir.varonis.com), and the replay will be archived on the website for one year. For more information on Varonis' solution portfolio, please visit www.varonis.com. Visit our blog, and join the conversation on X (Twitter), LinkedIn an ...

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 ...