Varonis Systems

Varonis Systems, Inc. engages in providing data security and analytics. It operates through the following segments: United States, EMEA, and Rest of the World. Its products includes datadvantage, data classification engine, data transport engine, Varonis edge, datanswers, datalert, dataprivilege, automation engine, and GDPR patterns. The company was founded by Yaki Faitelson and Ohad Korkus on November 3, 2004 and is headquartered in New York, NY.

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Varonis Systems (VRNS) reports strong Q4 performance amidst SaaS transition

Varonis Systems (VRNS) delivered a strong Q4 performance with notable growth in ARR and improved free cash flow despite margin headwinds from the SaaS transition.
The company's focus on the successful transition to SaaS, positive customer feedback on data protection, and budget allocation ease position Varonis for continued growth.
While facing challenges such as macroeconomic uncertainties and SaaS transition friction, Varonis sees opportunities in advanced SaaS features and customer data security priorities.

Varonis Systems excels in Q1 with strong SaaS adoption

Varonis Systems delivered strong Q1 performance driven by successful SaaS transition, exceeding guidance and showcasing robust ARR growth.
While facing challenges in EMEA and sales transitions, the company remains optimistic about the positive momentum in SaaS adoption and customer value proposition.
Varonis sees opportunities in continued SaaS adoption, leveraging positive feedback to drive further growth and enhance customer offerings.

Varonis excels in Q2 with strong SaaS adoption and financial growth

Varonis Systems' Q2 performance reflects strong SaaS adoption, financial growth, and successful transition strategies.
The company's focus on preventing insider threats and enhancing customer experience through SaaS positions them for future success.
While challenges like pricing, conversions, and maintaining excitement exist, Varonis has opportunities for growth and market leadership.
Varonis' confidence in generating leverage through SaaS and commitment to the transition bode well for continued progress and success.

Varonis Systems excels in Q3 with strong SaaS growth

Varonis Systems delivered strong Q3 results, showcasing growth in ARR, free cash flow, and SaaS adoption, exceeding guidance and expectations.
Despite challenges in AI impact and revenue headwinds, Varonis remains confident in its growth trajectory and ability to navigate operational hurdles.
The company's focus on SaaS, AI integration, and customer conversions presents opportunities for expansion, market penetration, and revenue growth.
Varonis' strategic approach to data security and comprehensive protection platform differentiates it in the market, driving customer value and sales.

Varonis Systems excels in SaaS momentum but faces ARR growth challenges

Varonis Systems showcased strong financial performance and strategic focus on SaaS transition and new services, driving growth and value for customers.
While facing challenges in ARR growth deceleration, the company remains optimistic about positive trends and opportunities in the SaaS market.
Varonis aims to maintain its growth trajectory, update guidance as needed, and achieve its $1 billion target for 2027, despite the accelerated transition timeline.

Varonis Systems excels in Q1 with strong SaaS growth and MDDR success

Varonis Systems delivered a strong Q1 performance with notable ARR and revenue growth, driven by successful SaaS transition and new product offerings.
The company's focus on data security, particularly with the MDDR service, is resonating well with customers and driving increased customer lifetime value.
While facing challenges in sales cycle predictability and cash flow management, Varonis is well-positioned to capitalize on Gen AI adoption and market opportunities.

Varonis Systems reports solid Q2 results and optimistic 2024 outlook

Varonis Systems demonstrated strong financial performance in Q2 2024, driven by robust ARR growth and strategic focus on data protection.
While facing challenges in maintaining margins and addressing analyst inquiries, the company remains optimistic about its trajectory.
With a solid financial outlook, Varonis is well-positioned to capitalize on opportunities in the data security market and drive continued growth.

Varonis Systems reports robust Q3 performance amidst SaaS growth

Varonis Systems delivered a strong Q3 2024 performance with notable growth in SaaS revenues and ARR.
The company's focus on data security, SaaS transition, and MDDR offerings has positioned it well for future growth.
While facing challenges in the federal business segment, Varonis remains optimistic about future opportunities and growth potential.
Analysts and investors are closely monitoring Varonis' performance and strategic moves for 2025.

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Varonis Systems, Inc. engages in the provision of a security software platform. Its software enables enterprises and industries to protect data stored in the cloud and on-premises including sensitive files and emails, confidential personal data belonging to customers, patients, and employees, financial records, source code, strategic, and product plans, and other intellectual property. It operates through the following geographical segments: North America, Europe, Middle East, and Africa, and Rest of the World. The company was founded by Yakov Faitelson and Ohad Korkus on November 3, 2004 and is headquartered in New York, NY.

NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) -- AWS re:Inforce booth 303 — Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced new capabilities to automatically and continuously strengthen data security posture and prevent data breaches across AWS. Cloud providers give organizations the flexibility and power to create and proliferate cloud data workloads faster than ever.

Varonis Announces Industry-First Automated Remediation to Prevent Data Exposure in AWS

Varonis released its full event schedule and announced its debut at AWS re:Inforce, which will be held June 10 – 12 at the Pennsylvania Convention Center.

Varonis at AWS re:Inforce: Securing AWS With Automated Data Security Posture Management

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NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, proudly announced it was recognized as a Customers' Choice in a new Gartner® Report, "Voice of the Customer for Data Security Posture Management." Here are just some of the reviews from customers who contributed to the distinction: "Must-Have Solution To Build An Effective Data Governance Program" – CIO.

Varonis Recognized as a Customers' Choice in 2024 Gartner® Peer Insights™ Voice of the Customer DSPM Report

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Varonis proudly returns to Infosecurity Europe to deliver expert sessions on generative AI security, mitigating data exposure from breaches, and more.

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I continue to recommend a buy due to strong execution on the SaaS transition and a positive growth outlook. 1Q24 earnings were in line with guidance and showed improvement in the SaaS transition, with subscription revenue growing and ARR increasing. The introduction of the MDDR product and the demand for AI are expected to drive long-term growth for Varonis Systems.

Varonis Systems: SaaS Transition Going Well

NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today released its full event schedule and proudly announced its return as a Platinum exhibitor at the Gartner® Security & Risk Management Summit, which will be held June 3 – 5 in National Harbor, MD. Stop by booth 835 to see how the Varonis Data Security Platform delivers automated outcomes by limiting data exposure — and risk — across multi-cloud, SaaS, and on-prem.

Varonis at the 2024 Gartner® Security & Risk Management Summit: Deploying AI Copilots Safely

NEW YORK, May 17, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, announced its participation at the following upcoming conferences:

Varonis to Present at Upcoming Investor Conferences

Varonis VP of Incident Response & Cloud Operations Matt Radolec will present “Reducing AI's Blast Radius: How to Prevent Your First AI Breach" at RSAC.

Varonis Keynote at RSA Conference 2024: Preventing Your First AI Breach

NEW YORK and SAN FRANCISCO, May 07, 2024 (GLOBE NEWSWIRE) -- RSA CONFERENCE 2024 – Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced it received the Best Data Security Posture Management Award for its exceptional DSPM capabilities from Cyber Defense Magazine (CDM), the industry's leading electronic information security magazine. Now in its 12th year, CDM's annual Global InfoSec Awards shine the spotlight on the industry's most groundbreaking companies.

Varonis Wins Global InfoSec Award for Best DSPM at RSAC 2024

NEW YORK and SAN FRANCISCO, May 07, 2024 (GLOBE NEWSWIRE) -- RSA Conference 2024 Booth #5658 — Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced the addition of prompt monitoring to its Microsoft 365 Copilot security offering. This new feature allows security teams to investigate risky prompts, responses, and sensitive file references directly within the Varonis Data Security Platform.

Varonis Adds AI Prompt Monitoring to Prevent Malicious Copilot Activity

Varonis Systems, Inc. (NASDAQ:VRNS ) Q1 2024 Earnings Conference Call May 6, 2024 4:30 PM ET Company Participants Tim Perz - Director of Investor Relations Yaki Faitelson - Chief Executive Officer, President, Co Founder and Chairman Guy Melamed - Chief Financial Officer and Chief Operating Officer Conference Call Participants Saket Kalia - Barclays Matt Swanson - RBC Capital Markets Fatima Boolani - Citi Brian Essex - JPMorgan Roger Boyd - UBS Shaul Eyal - TD Cowen Annick Baumann - Jefferies Jason Ader - William Blair Shrenik Kothari - Baird Junaid Siddiqui - Truist Rudy Kessinger - D.A. Davidson Steven Schwartz - Wells Fargo Operator Greetings and welcome to the Varonis Systems, Inc. First Quarter 2024 Earnings Conference Call.

Varonis Systems, Inc. (VRNS) Q1 2024 Earnings Call Transcript

While the top- and bottom-line numbers for Varonis (VRNS) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Varonis (VRNS) Reports Q1 Earnings: What Key Metrics Have to Say

Varonis Systems (VRNS) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to break-even earnings per share a year ago.

Varonis Systems (VRNS) Reports Q1 Loss, Tops Revenue Estimates

Annual recurring revenues grew 17% year-over-yearSaaS ARR as a percentage of total ARR was approximately 30%Year-to-date cash from operations generated $56.7 million vs. $36.8 million last yearYear-to-date free cash flow generated $56.4 million vs. $35.7 million last year

Varonis Announces First Quarter 2024 Financial Results

NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, released its full event schedule as a Platinum Plus Sponsor of the RSA Conference 2024, taking place May 6 – 9 in San Francisco. Varonis' highlights include a main stage keynote on reducing AI's blast radius, an expert session on deploying AI copilots safely, and the unveiling of a completely rebranded booth at #5658 in the North Hall.

Varonis at RSAC 2024: Reducing AI's Blast Radius and Deploying Copilots Safely

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NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, announced that it will report its first quarter 2024 financial results following the close of the U.S. financial markets Monday, May 6, 2024.

Varonis Announces Date of First Quarter 2024 Financial Results

NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, announced the winners of its annual Partners in Excellence awards. The program honors Varonis' channel partners who worked diligently to deliver industry-leading data security to customers worldwide in 2023.

Varonis Announces Global Partners in Excellence Award Winners

Varonis (VRNS) unveils a cybersecurity solution for Microsoft's Copilot platform to support the latter's AI-driven tools before and after deployment.

Varonis (VRNS) Unveils Security Solution for Microsoft Copilot

NEW YORK, April 02, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced Varonis for Microsoft 365 Copilot — the industry's first purpose-built solution to secure Microsoft's AI-powered productivity tool before and after deployment. Varonis' new offering builds on its existing Microsoft 365 security suite, adding new capabilities to monitor Copilot data access in real time, detect abnormal Copilot interactions, and automatically limit sensitive data accessible by both humans and AI agents.

Varonis Debuts Industry's First Cybersecurity Solution for Microsoft 365 Copilot

NEW YORK, March 13, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, will kick off Connect! 2024, the company's annual customer event series.

Varonis to Kick Off 2024 Global Customer Connect! Event Series

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NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS) today announced it has been named by CRN®, a brand of The Channel Company, to its Security 100 list. The list honors security vendors who demonstrate superior commitment to working with channel partners to protect businesses from cyber threats.

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