Targets contractors and businesses in the home and commercial services sector, such as HVAC, plumbing, electrical, and related trades.How does the timing of this sale relate to ServiceTitan's share price performance? The weighted average transaction price of around $107.33 per share was executed when the stock was priced at $106.03 at the Dec. 11, 2025 close, with ServiceTitan shares having gained 4.07% over the preceding year.What is the impact on Mr. Mahdessian's overall equity exposure to ServiceTitan? W ...

Core Insights - Varonis Systems (VRNS) reported quarterly earnings of $0.06 per share, matching the Zacks Consensus Estimate, compared to earnings of $0.01 per share a year ago [1][9] - The company posted revenues of $161.58 million for Q3 2025, missing the Zacks Consensus Estimate by 2.71%, and reflecting a year-over-year increase from $148.07 million [1][9] - Varonis has consistently beaten Zacks Consensus Estimates in the previous four quarters, with an average surprise of 92.86% [1] Revenue Breakdown - SaaS revenues, which account for 77.9% of total revenues, increased by 117.7% year over year to $125.8 million [3] - Term license subscriptions, making up 15.4% of total revenues, decreased by 63.9% to $24.8 million [3] - Maintenance and services, representing 9.1% of total revenues, declined by 49.1% to $10.9 million [3] Geographic Performance - The United States contributed 72.7% of total revenues, increasing by 11.9% year over year to $114.4 million [4] - EMEA accounted for 20.8% of revenues, reflecting a 4.4% increase to $31.8 million [4] - Revenues from the rest of the world made up 6.5% of total revenues, growing by 14.4% year over year to $11.8 million [4] Margin and Operating Income - Varonis' gross margin contracted by 260 basis points to 83%, impacted by the transition to a SaaS business model [5] - The company reported a non-GAAP operating income of $1.61 million, down from $9.1 million in the same quarter last year [5] - The non-GAAP operating margin for Q3 2025 was 1%, compared to 6.1% in the year-ago quarter [5] Financial Position - As of September 30, 2025, Varonis had $1.1 billion in cash and equivalents, up from $807.4 million as of June 30, 2025 [6] - The company generated $122.7 million in operating cash flow and reported free cash flow of $111.6 million in the first three months of 2025 [6]

Core Viewpoint - Varonis Systems reported better-than-expected Q2 2025 earnings and revenues, driven by strong performance in its SaaS offerings, despite a decline in earnings year-over-year due to the transition to a SaaS model [3][4][5]. Financial Performance - Varonis Systems achieved non-GAAP earnings per share of 3 cents, exceeding the Zacks Consensus Estimate of 1 cent, but down 50% from 6 cents in the same quarter last year [3][4]. - Q2 2025 revenues reached $152.2 million, surpassing the Zacks Consensus Estimate of $148 million, and reflecting a year-over-year increase of 16.8% [5]. - SaaS revenues accounted for 69.6% of total revenues, increasing 136.4% year-over-year to $105.9 million, while term license subscriptions and maintenance services saw significant declines [6]. Geographic Performance - The United States contributed 71.4% of total revenues, growing 18.2% year-over-year to $108.7 million, while EMEA revenues increased 9.2% to $31.8 million [7]. Margins and Losses - Non-GAAP gross margin contracted by 350 basis points to 80.6%, and the company reported a non-GAAP operating loss of $1.9 million, compared to an operating income of $2.1 million in the previous year [8]. Balance Sheet and Cash Flow - As of June 30, 2025, Varonis had $807.4 million in cash and equivalents, up from $609.2 million at the end of Q1 2025, with operating cash flow of $89.3 million and free cash flow of $82.7 million for the first half of 2025 [9]. Guidance and Projections - Varonis raised its FY25 guidance for annual recurring revenues to between $748 million and $754 million, and total revenues to between $616 million and $628 million [10]. - The company expects full-year 2025 earnings per share in the range of 16-18 cents, and projects Q3 2025 revenues between $163 million and $168 million, indicating year-over-year growth of 10% to 13% [11][12]. Market Sentiment - Recent estimates for Varonis have trended upward, with a 5.3% shift in consensus estimates, and the stock currently holds a Zacks Rank 3 (Hold), suggesting an in-line return in the coming months [13][15].