Financial Data and Key Metrics Changes - In Q1 2025, Annual Recurring Revenue (ARR) grew 19% year-over-year to $664.3 million, with SaaS ARR now representing approximately 61% of total ARR, an increase from 53% in Q4 2024 [7][19][20] - Free cash flow for the quarter was $65.3 million, up from $56.4 million in the same period last year [7][20] - Total revenues for Q1 were $136.4 million, reflecting a 20% year-over-year increase [20] - Gross profit was $109.4 million, resulting in a gross margin of 80.2%, down from 83.3% in Q1 2024 [21] - The company reported a net income of $700,000, compared to a net loss of $3.7 million in Q1 2024 [22] Business Line Data and Key Metrics Changes - SaaS revenues reached $88.6 million, while term license subscription revenues were $31.5 million, and maintenance and services revenues were $16.4 million, with renewal rates exceeding 90% [20] - Maintenance and services revenues declined by 32% year-over-year, primarily due to perpetual maintenance customers converting to the SaaS platform [21] Market Data and Key Metrics Changes - The company noted strong customer interest in deploying generative AI tools, which has driven new customer engagement and existing customer conversions to the SaaS platform [8][10] - The acquisition of Firal is expected to enhance the company's data security platform and expand its total addressable market [13][14] Company Strategy and Development Direction - The company is accelerating its SaaS transition, aiming to complete it by the end of 2025, driven by strong demand for its SaaS solutions [6][7] - Varonis is focusing on providing automated data security across various platforms, including cloud data stores, which is seen as a competitive advantage [10][11] - The acquisition of Firal is part of a strategy to unify structured and unstructured data security monitoring, addressing more auditing and compliance use cases [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve over 20% ARR growth, citing strong SaaS net revenue retention and new customer momentum [19][29] - The management acknowledged macroeconomic uncertainties but emphasized strong demand from both new and existing customers, which contributed to ARR acceleration [48] Other Important Information - The company repurchased 1,476,456 shares at an average price of $41.49, totaling $61.3 million [23] - The updated guidance for 2025 includes an ARR expectation of $742 million to $750 million, representing growth of 16% to 17% [24] Q&A Session Summary Question: What gives confidence that ARR can grow north of 20%? - Management highlighted strong SaaS net revenue retention and customer demand as key factors supporting this confidence [28][29] Question: Can you provide more color around MDDR adoption and the competitive environment? - Management noted that MDDR has been the fastest adopted platform and emphasized the need for a data-centric approach to prevent data breaches [34][37] Question: How far are we from the trough in operating margins? - Management indicated that the trough is expected to occur this year, with improvements anticipated as the transition progresses [41][42] Question: What impacts did the macro environment have in the quarter? - Despite macro uncertainties, management reported strong demand and confidence in the long-term opportunity, leading to raised ARR guidance [48] Question: Can you discuss the recent acquisition in the database activity monitoring space? - Management described the acquisition as a natural extension of their offerings, addressing customer dissatisfaction with incumbents and enhancing their data security capabilities [56][58] Question: How is the company addressing new customer adoption behavior? - Management noted that the simplicity and automation of their offerings have improved their ability to attract new customers [81]

编者按：从国家传感网创新示范区到全国首个车联网先导区；从千亿级集成电路产业集群到"神威·太湖 之光"超级计算机……无锡——这座制造业强市，既有物联网"触手"与算力"大脑"的化学反应，也有具 身智能机器人从实验室闯入生产线的硬核突围。 锚定建设"人工智能+"标杆城市目标，4月28日，无锡召开人工智能产业创新发展大会。"洞察无 锡'AI+'"将深度解析无锡实践路径，第十篇：人工智能安全挑战，准备好了吗？ 新华财经南京5月1日电（殷晴）安全既是人工智能技术研发的底线要求，也是应用落地的先决条件，对 于推动人工智能可持续健康发展具有重要意义。以自主可控为基点，以安全可靠为理念，无锡持续跟踪 人工智能技术创新和场景应用，不断完善安全治理框架、探索创新实践，全力推动"人工智能+"标杆城 市建设行稳致远、进而有为。 构建自主创新体系筑牢"安全根基" 关键核心技术自主可控是把握人工智能创新话语权、发展主动权的根本所在。立足先发优势，无锡着重 增强技术创新策源力、提升协同创新聚合力，逐步构建独具特色的人工智能自主创新体系，夯实技术安 全根基。 增强共性技术"攻坚力"。无锡重点在垂类模型、具身智能、自动驾驶、智能终端等关键核心技 ...

Core Insights - Varonis Systems, Inc. has been recognized with four Global Infosec Awards at the RSA Conference 2025 for its excellence in data security and innovative solutions [1][2][3] Group 1: Awards and Recognition - Varonis won the Innovative Service award for its Managed Data Detection and Response [2] - The Varonis Data Security Platform received the Editor's Choice for Cloud Security, the Market Innovator award for Data-Centric Security, and the Market Innovator award for Data Security Posture Management [2][3] Group 2: Technology and Solutions - The Varonis Data Security Platform is noted for its ability to find, fix, and alert to threats across IaaS, SaaS, and hybrid environments using advanced automation [3] - Varonis emphasizes its role in helping organizations protect data and reduce risk, particularly in the context of AI advancements [3][4] Group 3: Company Philosophy and Approach - Varonis aims to go beyond merely identifying issues by providing automated solutions that help customers avoid breaches and fines, thereby alleviating the workload of security teams [4] - The company focuses on understanding future threats and innovating in ways that mitigate cyber risks [4]

With Varonis AI Shield, customers have always-on defense to ensure the secure use of AI, including: AI security is data security. AI Shield helps employees use AI without putting data at risk, ensuring only the right people — and agents — have access to data, that use is monitored, and abuse is flagged. The leader in data security continuously prevents unnecessary sensitive data access by AI tools MIAMI and SAN FRANCISCO, April 28, 2025 (GLOBE NEWSWIRE) -- RSA Conference Booth N-5658 – Varonis Systems, Inc. ...

Core Insights - Kyndryl has launched new services, Kyndryl Consult Data Security Posture Management, utilizing Microsoft Purview to enhance data protection, privacy, and risk mitigation capabilities for organizations [1][2][3] Group 1: Service Offerings - The new services combine Kyndryl's consulting expertise with Microsoft's advanced security technologies to help customers identify sensitive data, automate protection, and maximize the value of their data assets [2][3] - Kyndryl's services include proactive data risk management through automated discovery, classification, and protection, built-in encryption, data loss prevention, and compliance management [6] - The services aim to simplify IT environments by reducing complexity and risk exposure, providing centralized visibility of the entire data landscape [6] Group 2: Market Context - The Kyndryl AI Readiness Report indicates that while 86% of leaders are confident in their AI implementation, only 29% believe their AI is ready to manage future risks, highlighting the need for improved data management and security [2] - Organizations face significant challenges in managing complex IT environments while protecting sensitive data and meeting regulatory requirements [3] Group 3: Strategic Partnership - Kyndryl and Microsoft have established a global strategic alliance since November 2021, developing scalable security and resiliency services [4] - Kyndryl is a member of the Microsoft Intelligent Security Association (MISA), integrating solutions with Microsoft Security technology to better defend against cyber threats [4] Group 4: Compliance and AI Foundation - The services enhance risk and compliance readiness, helping customers meet regulatory requirements through Kyndryl's expertise in data privacy and security combined with Microsoft Purview's policy-driven security controls [6] - A secure data foundation is established to support responsible AI development, enabling secure management of sensitive information [6]

Core Insights - AvePoint has announced new capabilities in the AvePoint Elements Platform aimed at empowering managed service providers (MSPs) to enhance user lifecycle management and device management with a focus on security and scalability [1][3] - The managed security services market is projected to reach $56.6 billion by 2027, with over 80% of MSPs currently offering managed detection and response services, indicating a significant growth opportunity for AvePoint and its partners [2] - The latest enhancements to the AvePoint Elements Platform are designed to help MSPs scale operations, improve security, and unlock new revenue streams, thereby driving business growth [3][4] Company Developments - AvePoint completed the acquisition of Ydentic in January 2025 and released the next-generation Elements platform in February 2025, reflecting its commitment to investing in its channel business [1] - The new User Lifecycle Management capabilities automate user provisioning and management, allowing MSPs to enforce Multi-Factor Authentication (MFA) and manage user lifecycles efficiently [7] - The unified Device Management capabilities provide centralized oversight of devices across multiple tenants, automating compliance tasks and enhancing operational efficiency for MSPs [7] Market Context - The increasing pressure on MSPs to enhance security and scale operations is driven by advancing technology and intensifying security challenges [3] - AvePoint's partnership with Microsoft enables partners to deliver more intelligent data security and management strategies, enhancing the value of Microsoft technology investments [4] - The global channel partner program of AvePoint includes approximately 5,000 MSPs, value-added resellers, and systems integrators, indicating a robust ecosystem for collaboration and service delivery [5]

Core Insights - Varonis Systems, Inc. has announced a partnership with Pure Storage to enhance data security and cyber resilience for customers [1][2] - The collaboration allows Varonis to integrate its AI-powered data security platform with Pure Storage's advanced data storage solutions, enabling proactive data protection and rapid recovery from cyber incidents [2][6] Company Overview - Varonis is recognized as a leader in data security, focusing on discovering and classifying critical data, removing exposures, and detecting advanced threats using AI automation [3][4] - Pure Storage is a leading provider of advanced data storage solutions, known for its simplicity and flexibility, and has been recognized as a leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms [2][5] Partnership Benefits - The partnership aims to empower organizations to secure sensitive data, detect threats, and recover quickly from cyber incidents, addressing the rising risks of ransomware [2][6] - Varonis' platform will enable Pure Storage customers to automate security outcomes such as data classification, access governance, and threat detection [4][6] Technology Integration - Varonis will scan data in Pure Storage systems in real-time, matching classification results with identities and permissions to identify and mitigate data exposure risks [6] - The integration includes features like mapping complex permissions, right-sizing access, and using AI to analyze user behavior for threat detection [6]

近年来，湖北在加快推进数据要素市场建设的同时发力打造数据安全生态，先后印发和起草《湖北省数 据要素市场建设实施方案》《湖北省数据条例（草案送审稿）》，提出完善数据流通管理制度和标准规 范，增强数据安全保障能力。 21世纪经济报道记者吴文汐，实习生潘希灵武汉报道 "当前，世界数据安全面临严峻挑战，迫切需要携 手构建更可信、更开放、更繁荣的数据安全生态，为我国数字经济发展保驾护航。"4月19日，第二届数 据安全创新大会在武汉举办，中国电信武汉分公司党委书记、总经理代宏斌在开幕式致辞中表示。 以人工智能为例，新一代人工智能快速发展所带来的安全风险问题是时代下的显著特征。人工智能大模 型自身便带有开发风险、数据风险、应用风险和基础环境风险等问题。同时，人工智能促进了网络攻击 手段的更新，也提升了"以假乱真"的能力。 此次大会上，多位专家学者也关注了这一问题。中国工程院院士、中央网信办专家咨询委员会顾问沈昌 祥指出，人工智能特别是大模型带来了巨大的安全风险问题。从计算科学的视角来看，应发展自主可信 计算（即免疫可信计算3.0），并搭建数据空间基础设施安全可信框架及其三重主动防御机制，筑牢数 据安全长城。 公安部十一局原 ...

Core Insights - Varonis Systems, Inc. is a leader in data security and will participate as a Platinum Plus Sponsor at the RSA Conference 2025 from April 28 to May 1 in San Francisco [1][6] Event Highlights - Varonis will present a mainstage keynote titled "From Gamer to Leader: How to Build Resilient Cyber Teams" on April 30, focusing on using gaming principles to develop resilient cyber teams [3] - An expert session on "Modernizing DLP for Today's Threat Landscape" will be held on April 29, addressing the challenges of traditional DLP methods in the context of AI and data growth [3][4] - Varonis will showcase its cloud-native Data Security Platform at booth 5658, emphasizing its capabilities in reducing data risk and enhancing compliance with privacy regulations [4][6] Company Overview - Varonis specializes in data security, utilizing a cloud-native platform that continuously discovers and classifies critical data, removes exposures, and detects advanced threats through AI-powered automation [6][7] - The company supports thousands of organizations globally, providing solutions for data security posture management, data classification, data access governance, data detection and response, data loss prevention, AI security, and insider risk management [7]

Core Viewpoint - Varonis Systems, Inc. will report its first quarter 2025 financial results on May 6, 2025, after the U.S. financial markets close [1] Financial Results Announcement - The financial results will be discussed in a conference call scheduled for May 6, 2025, at 4:30 p.m. ET [1] - Access to the call can be made via a domestic number (877-425-9470) or an international number (201-389-0878) with a conference ID of 13752980 [2] - A replay of the conference call will be available until May 13, 2025, with specific numbers for domestic and international access [2] Company Overview - Varonis is recognized as a leader in data security, focusing on a different approach compared to traditional cybersecurity firms [3] - The company offers a cloud-native Data Security Platform that utilizes AI-powered automation for data discovery, classification, exposure removal, and advanced threat detection [3] - Varonis serves thousands of organizations globally, providing solutions for various security outcomes including data security posture management, data classification, and insider risk management [4]