Varonis(US:VRNS)2020-08-03 20:36Company Overview - Varonis was founded in 2005 and had its IPO in 2014 [10] - The company has approximately 1,570 employees worldwide [10] - As of June 30, 2020, the Annual Recurring Revenue (ARR) was $235.7 million [11] - Subscription revenue accounted for 99% of the total [11] - Recurring revenues made up 98% of Q2 revenues [12] - The dollar-based net retention rate (NRR) exceeded 120% for Q2 2020 [13] Market Opportunity - Varonis estimates a total addressable market (TAM) of over $20 billion across IT and Security [23] - The largest opportunity comes from the Security Software market [23] Financial Guidance - The company projects Q3 2020 total revenues between $68 million and $71 million [72] - The non-GAAP operating loss is expected to be between $3 million and $2 million [72]