Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Social Security Commissioner Frank Bisignano was announced as the first CEO of the IRS on Oct. 6 — a decision that has raised questions among experts about whether one person can effectively lead two major federal agencies. A New Role at a Critical Time Treasury Secretary and Acting IRS Commissioner Scott Bessent said Bisignano will handle the IRS's daily operations while keeping his position at the Socia ...

Core Viewpoint - Varonis Systems Inc reported disappointing third-quarter revenue and provided fourth-quarter guidance that fell below market expectations [1][2] Financial Performance - The company reported quarterly earnings of 6 cents per share, meeting analyst consensus estimates [1] - Quarterly sales were $161.577 million, missing the analyst consensus estimate of $166.149 million [1] Fourth-Quarter Guidance - Varonis expects adjusted EPS for the fourth quarter to be between 2 cents and 4 cents, compared to market estimates of 5 cents [2] - The company anticipates sales of $165.00 million to $171.00 million, versus projections of $170.129 million [2] Market Reaction - Following the earnings announcement, Varonis Systems shares fell by 45.2%, trading at $34.53 [3] Analyst Ratings and Price Targets - Needham analyst Mike Cikos maintained a Buy rating but lowered the price target from $70 to $55 [6] - Barclays analyst Saket Kalia maintained an Overweight rating and reduced the price target from $70 to $50 [6] - Piper Sandler analyst Rob Owens kept a Neutral rating and cut the price target from $50 to $45 [6] - Cantor Fitzgerald analyst Jonathan Ruykhaver maintained an Overweight rating and lowered the price target from $70 to $60 [6] - Susquehanna analyst Shyam Patil maintained a Positive rating and reduced the price target from $65 to $50 [6] - Truist Securities analyst Junaid Siddiqui reiterated a Buy rating and slashed the price target from $70 to $50 [6] - UBS analyst Roger Boyd maintained a Buy rating and lowered the price target from $70 to $60 [6] Business Insights - CEO Yaki Faitelson noted healthy demand for the company's SaaS platform, which now constitutes 76% of total company ARR [3] - The adoption of the SaaS platform is driven by automated outcomes and customer interest in AI initiatives and cloud data security [3] - However, the company experienced lower renewals in the Federal vertical and non-Federal on-prem subscription business towards the end of the quarter, leading to a revenue shortfall [3]

Financial Data and Key Metrics Changes - The company reported an 18% year-over-year increase in Annual Recurring Revenue (ARR), reaching $718.6 million [6][19] - Total revenues for the third quarter were $161.6 million, reflecting a 9% year-over-year growth [19] - Gross profit was $128.3 million, resulting in a gross margin of 79.4%, down from 85% in the same quarter last year [20] - Net income for the third quarter was $8.4 million, or $0.06 per diluted share, compared to $13.8 million, or $0.10 per diluted share, in the same period last year [21] Business Line Data and Key Metrics Changes - The SaaS business now accounts for 76% of total company ARR, indicating a successful transition to SaaS ahead of schedule [5][15] - SaaS revenues for the third quarter were $125.8 million, while term license subscription revenues were $24.8 million [19] - The company experienced weaker than expected renewals in both federal and non-federal on-premises subscription businesses, impacting overall performance [7][16] Market Data and Key Metrics Changes - The federal business has historically contributed around 5% of total ARR, with recent renewals showing a decline [81] - The company noted that the decline in renewal rates was observed in both federal and non-federal sectors, leading to adjustments in guidance [81] Company Strategy and Development Direction - The company plans to end-of-life its self-hosted solution by December 31, 2026, to focus entirely on its SaaS offerings [7][15] - Investments in partnerships, particularly with Microsoft, and acquisitions like Cyral and SlashNext are expected to drive future growth [12][56] - The company aims to enhance its SaaS platform's capabilities, particularly in data security and compliance, to meet evolving customer needs [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with the performance of the on-prem business but remains confident in the SaaS business's growth potential [23] - The company is taking a conservative approach to guidance, reflecting recent underperformance and the decision to phase out on-prem solutions [8][22] - There is a strong demand for the SaaS platform, driven by automation and the need for enhanced data security in the age of AI [11][12] Other Important Information - The company generated $111.6 million of free cash flow year-to-date, up from $88.6 million in the same period last year [19] - A $115 million share repurchase program has been authorized by the board, supported by a strong balance sheet [23] Q&A Session Summary Question: What led to the decision to reduce the federal team? - Management indicated that the federal business has not performed as expected, prompting a reevaluation of strategy and a reduction in team size to focus on SaaS transitions [26] Question: What were the reasons for lower on-prem renewals? - Management noted that there was no single theme for the non-renewals, but issues with account management and a focus on SaaS customers contributed to the decline [30][42] Question: How does the company plan to address the churn in the on-prem business? - The company is focusing on improving account management and ensuring that customers understand the value of transitioning to SaaS [30][69] Question: What is the expected contribution from recent acquisitions? - Management expressed confidence that acquisitions like SlashNext and Cyral will enhance the company's offerings and drive growth [56] Question: Is there a risk of alienating customers with the push to SaaS? - Management believes that moving to a 100% SaaS model is essential for operational efficiency and customer value, despite potential pushback from some customers [59][63]

Varonis Overview Q3 2025 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 other juris ...

Group 1: Partnership and Collaboration - Palantir and Lumen have announced an expanded multi-year, multi-million dollar partnership to enhance Lumen's digital networking infrastructure using Palantir's AI technology [4][5] - The partnership aims to deliver real-time intelligence by efficiently moving large volumes of data securely and quickly, which is essential for businesses leveraging AI [5][10] - Lumen expects to achieve 17 million fiber miles by the end of 2025 in the U.S., and the partnership with Palantir is expected to help speed up the currently clogged data system [9][11] Group 2: Infrastructure and AI Integration - The collaboration is seen as a transformative effort to modernize older telecommunications infrastructures to support the demands of AI applications [7][14] - Palantir's platform is designed to free trapped data from various applications, enabling businesses to reduce costs and accelerate their AI transformation [10][12] - The integration of Palantir's AI with Lumen's infrastructure is projected to make data processing hundreds of times faster and cheaper, enhancing the overall efficiency of AI use cases [13][14] Group 3: Government and Security - Both companies have significant government clients, including the Department of Homeland Security, emphasizing the importance of speed, security, and data veracity in their services [15][16] - The partnership is positioned as crucial for supporting U.S. national security efforts, particularly in the context of modern warfare and intelligence [24][29] - Palantir's technology has been credited with aiding Ukraine in its defense against Russia, showcasing its application in critical geopolitical scenarios [39][41]

RT THE HUNTER ✴️ (@TrueGemHunter)Your Identity, Your RulesWelcome to the idOS Era.@idOS_network is building the future of decentralized identity, where your data stays private, secure, and under your control.✅No central servers✅No data selling✅Full user permissionThat’s the idOS wayPass it on. https://t.co/aDsNampjnM ...

Decentralized Identity (DeID) - idOS Network is building the future of decentralized identity [1] - Data privacy, security, and user control are central to idOS [1] - The idOS way emphasizes no central servers, no data selling, and full user permission [1]

Decentralized Identity Vision - idOS network is building the future of decentralized identity [1] - Data stays private, secure, and under user control [1] Core Principles - No central servers are involved [1] - No data selling occurs [1] - Full user permission is granted [1] User Empowerment - Users own and control their data [1] - Users share data only when they choose [1]

Core Insights - Hamilton Lane Advisors sold its entire stake in Rubrik, amounting to an estimated trade value of $9.44 million, resulting in a zero position in the company as of the filing date [1][2][3] Company Overview - Rubrik's stock price was $82.21 as of October 6, 2025, with a market capitalization of $15.74 billion and a trailing twelve months (TTM) revenue of $1.08 billion, while reporting a net income loss of $443.83 million [4] - The company specializes in enterprise data protection, unstructured data protection, cloud and SaaS data protection, data threat analytics, security posture management, and cyber recovery solutions, serving a diverse client base across various industries [5][6] Performance Metrics - Rubrik's stock has increased by 149.5% over the past year, significantly outperforming the S&P 500 by 133.93 percentage points [3] - The company experienced a revenue growth of 51% in its latest quarter, with existing customers increasing their spending by over 20% [8] Valuation Insights - The price-to-sales ratio for Rubrik rose from 7 to 15 within a year, indicating a substantial increase in valuation [7] - If Rubrik achieves a 20% net income margin, it would still be trading at 75 times earnings at the current share price [8] Strategic Positioning - Rubrik is integrated with major cybersecurity firms such as Palo Alto Networks, CrowdStrike, Zscaler, Okta, and Google's Mandiant, positioning it for potential growth into its high valuation [9]

Core Viewpoint - Truist Securities initiated coverage of Commvault Systems (NASDAQ:CVLT) with a Buy rating, highlighting the company's potential to benefit from the increasing significance of data security [2] Summary by Category Company Overview - Commvault Systems is positioned to capitalize on the growing importance of data security, which is a critical factor in the current market landscape [2] Stock Performance - Truist set a price target of $230 for Commvault's stock, indicating a positive outlook for the company's future performance [2] - Following the initiation of coverage, shares of Commvault were up 4% [2]