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 - 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]

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]

Financial Data and Key Metrics Changes - In Q4 2024, ARR grew 18% to $641.9 million, with SaaS ARR representing 53% of total company ARR for the first time [9][23][28] - Free cash flow reached $108.5 million, up from $54.3 million the previous year, marking a significant milestone for the company [10][28] - Total revenues for Q4 were $158.5 million, a 3% increase year-over-year, while full-year revenues grew to $551 million, reflecting a 10% increase compared to 2023 [29][32] Business Line Data and Key Metrics Changes - The company added over $200 million in SaaS ARR during 2024, ending the year with approximately $340 million in SaaS ARR [7][9] - New customer momentum was the primary driver of growth, with a 50% increase in ARR from new customers [20][28] - The dollar-based net retention rate for subscription customers was 105% at the end of 2024, indicating steady gross retention despite limited upsell activity [28] Market Data and Key Metrics Changes - The company is experiencing strong demand for its SaaS offerings, particularly in the context of increasing data security needs driven by AI initiatives [12][18] - The transition to SaaS is expected to enhance the company's ability to penetrate its total addressable market (TAM) and expand into new data stores [23][26] Company Strategy and Development Direction - The company plans to accelerate its transition to a fully SaaS model, now expecting to complete it by the end of 2025, which is a year earlier than previously anticipated [9][26] - The focus on automation and AI in data security is seen as a key differentiator, with the company positioning itself to capitalize on the growing need for data protection [11][12][14] - The introduction of MDDR (Managed Detection and Response) has been a significant driver of new business and existing customer conversions [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain growth post-transition, citing the simplicity and effectiveness of the SaaS platform [23][26] - The management highlighted the importance of data security in the current environment, emphasizing that organizations are increasingly aware of the risks associated with data breaches [12][13] - The company anticipates continued strong demand for its solutions, particularly as customers seek to deploy AI technologies securely [18][19] Other Important Information - The company ended 2024 with 5,600 subscription customers, a 13% year-over-year increase, and ARR per new customer grew approximately 20% year-over-year [28] - The gross margin for Q4 was 84.4%, down from 88.5% in the same quarter of the previous year, primarily due to the increased mix of SaaS sales [29][30] Q&A Session Summary Question: Can you discuss the potential upside to flat net new ARR growth? - Management indicated that customer demand for data security and the benefits of the SaaS platform are driving natural expansion, which could lead to upside in ARR growth [35][36] Question: Are you pulling forward renewal deals to facilitate conversions to SaaS? - Management clarified that they are starting renewal conversations earlier to streamline the conversion process, which is primarily a documentation challenge rather than a technological one [42][44] Question: How do you plan to sustain mid-teens growth post-transition? - Management believes that the growth will come from new customer momentum, improved net retention rates, and the introduction of new products like MDDR [43][51] Question: What is the current health of your pipeline and backlog? - Management reported a healthy pipeline with ongoing conversations about SaaS conversions, indicating confidence in both new customer acquisition and existing customer transitions [66][68] Question: Can you provide insights on traction with various data stores? - Management noted strong demand across multiple data repositories, emphasizing the acute need for data security solutions in the current landscape [71][75]

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