Varonis Systems Inc

VRNS

Equity

ISIN null / Valor 22677089

NASDAQ (2026-06-05)

USD 32.69-1.68%

Varonis Systems Inc
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About company

Varonis Systems Inc. is a specialized technology company that focuses on cybersecurity and data protection solutions. With a history of innovation since its inception, Varonis has developed a comprehensive suite of software products aimed at safeguarding sensitive information from cyber threats and insider risks. The company's offerings encompass data security, governance, compliance, and analytics, designed to protect enterprise data across physical, virtual, and cloud environments. Under the leadership of key executives such as Rob Sobers, Sagiv Elmaleh, and Dov Lerner, Varonis has positioned itself as a leader in the cybersecurity space. Sobers, as the Chief Marketing Officer, drives the global marketing strategy and brand development, while Elmaleh, with his extensive engineering background, spearheads the technological vision and execution of Varonis' core products and services. Dov Lerner, joining as General Counsel, brings a wealth of legal expertise, particularly in corporate governance and securities laws, further strengthening the company's operational and strategic framework. Through its focused approach on data protection and cybersecurity, Varonis Systems Inc. addresses the critical needs of businesses in an increasingly digital and threat-prone landscape.

Summarized from source with an LLMView SourceSector: Technology

Revenue snapshot (Q4 2025)

Total revenues were $173.4 million (up from $158.5M a year earlier). SaaS revenues were $142.3M in Q4 2025 versus $72.2M in Q4 2024. Term license subscription ($21.0M) and maintenance & services ($10.1M) declined vs. prior year largely due to customer conversions to SaaS.

ARR and SaaS mix

ARR at quarter end was $745.4M, up 16% YoY. SaaS ARR was $638.5M (≈86% of total ARR), up 88% YoY — or up 32% YoY excluding conversions. Management said roughly one‑third of remaining self‑hosted customers converted to SaaS in the quarter.

Profitability (GAAP vs non‑GAAP)

GAAP operating loss for Q4 was ($30.3M) vs ($17.6M) in Q4 2024; GAAP net loss was ($27.8M) or ($0.24) per share. Non‑GAAP operating income was $4.6M in Q4 (vs $15.3M prior year) and non‑GAAP net income was $11.1M for the quarter after the company’s adjustments.

Full‑year 2025 view

FY 2025 revenues were $623.5M (vs $551.0M in 2024). SaaS revenues grew to $462.6M (from $208.8M). GAAP net loss for FY was ($129.3M); non‑GAAP net income for FY was $24.1M. The shift to SaaS drove the decline in term licenses and maintenance year‑over‑year.

Cash, liquidity and capital allocation

As of Dec 31, 2025 the company had roughly $1.1B in cash, cash equivalents, deposits and marketable securities. Net cash provided by operating activities for the twelve months was $147.4M and free cash flow was $131.9M. The company repurchased $115.0M of common stock during the year.

Balance sheet / liabilities

Reported cash & cash equivalents were $202.5M and short‑term marketable securities $681.2M (plus $187.2M long‑term). Long‑term convertible senior notes, net were reported at $452.3M on the balance sheet as of year‑end.

Business developments

Varonis announced an agreement to acquire AllTrue.ai (AI security capabilities), launched integrations (AWS Security Hub, Microsoft Purview DSPM), and reported product/partner recognitions, reinforcing its cloud/SaaS and AI security positioning.

2026 guidance

Q1 2026: revenues $164–166M (≈20–22% YoY growth), SaaS ARR growth 27–28% YoY excluding conversions, and non‑GAAP operating loss of ($11M) to ($10M). FY 2026: SaaS ARR $805–840M (26–32% YoY), or 18–20% ex‑conversions; revenues $722–730M (16–17% YoY); free cash flow $100–105M; non‑GAAP operating income $0–4M and non‑GAAP EPS $0.06–$0.10 (diluted).

Summarized from source with an LLMView Source

Key figures

-34.8%1Y

26.1%3Y

-31.6%5Y

Performance

81.1%1Y

54.4%3Y

57.5%5Y

Volatility