VARONIS SYSTEMS INC earnings

Varonis Systems reported second quarter fiscal 2026 revenue of $180.0 million, up 18.3% from $152.2 million in the prior-year quarter. Gross profit rose 12.1% to $135.5 million, but gross margin fell to 75.3%, down 4.2 percentage points. The operating loss widened to $40.6 million from $36.6 million.

Varonis reported total revenue of $173.1 million for the first quarter of fiscal 2026, up 26.9% from $136.4 million in the prior-year quarter. The mix has tilted almost entirely to SaaS, which accounted for 93.0% of total revenues, against 64.9% a year earlier.

Varonis ended fiscal 2025 with a fourth quarter that showed the SaaS transition nearly complete and a GAAP income statement still carrying the cost of that shift. Fourth quarter revenue was $173.4 million, up 9.4% from the prior-year quarter, and full-year revenue was $623.5 million, up 13.2%.

Varonis reported third quarter revenue of $161.6 million, up 9.1% from the prior-year quarter. Gross profit rose 1.9% to $126.4 million, but gross margin fell 5.5 percentage points to 78.2% as hosting and customer success costs rose with the SaaS transition.

Varonis reported second-quarter revenue of $152.2 million, up 16.7% year over year. Year-to-date revenue rose 18.1% to $288.6 million. The top line still grew while the company converts customers to SaaS. Annual recurring revenue was $693.2 million at June 30, 2025, up 19% from a year earlier.

Varonis Systems reported first quarter fiscal 2025 revenue of $136.4 million, up 19.6% from the prior-year quarter. Gross profit rose to $107.4 million, up 15.9%. Gross margin was 78.7%, down 2.5 percentage points. The GAAP operating loss narrowed to $43.8 million.

Varonis ended fiscal 2024 with a quarter that showed modest top-line growth but a much wider GAAP loss. Fourth-quarter revenue was $158.5 million, up 2.9% from $154.1 million in the prior-year quarter. Full-year revenue reached $551.0 million, up 10.4% from $499.2 million.

Varonis reported fiscal 2024 third quarter revenue of $148.1 million, up 21.1% from the $122.3 million posted in the prior-year quarter. Revenue for the first nine months of 2024 was $392.4 million, up 13.7% from $345.1 million for the same period in 2023.

Varonis Systems reported fiscal 2024 second quarter results on July 29, 2024. Total revenue was $130.3 million, up 12.9% from the prior-year quarter. Gross profit was $107.9 million, up 10.1%. Gross margin was 82.8%, down 2.1 percentage points from the prior-year quarter.

Varonis reported first quarter 2024 revenue of $114.0 million, up 6.2% from $107.3 million in the first quarter of 2023. The total masks a large mix shift.

Varonis Systems ended fiscal 2023 with a fourth quarter that showed steady top-line growth and a narrower loss. Total revenue for the quarter was $154.1 million, up 8.1% from the prior-year quarter. Full-year revenue was $499.2 million, up 5.4% from the prior year.

Varonis reported third quarter revenue of $122.3 million, down 0.8% from $123.3 million in the prior-year quarter. Management attributes the decline to the SaaS transition rather than soft demand.

Varonis reported second quarter fiscal 2023 revenue of $115.4 million, up 3.6% from the prior-year quarter. Subscription revenue grew 8%, while maintenance and services revenue declined as customers converted existing licenses to subscriptions and newer products needed less professional services time.

Varonis Systems reported first quarter revenue of $107.3 million, up 11.5% from the prior-year quarter. ARR reached $478.1 million as of March 31, 2023, up 18% year-over-year. The company said SaaS represented 37% of new business and upsell ARR in the quarter, compared with its earlier guidance of 15%.

Varonis reported fourth quarter revenue of $142.6 million, up 12.7% from the prior-year quarter. Full-year revenue reached $473.6 million, up 21.4%. The quarter's GAAP operating loss narrowed 44.0% to $10.0 million, and the GAAP net loss narrowed 56.9% to $10.7 million.

Varonis reported third-quarter 2022 revenue of $123.3 million, up 22.9% from $100.4 million in the prior-year quarter. Gross profit was $106.1 million, up 23.4% from $86.0 million. For the first nine months, revenue was $331.0 million, up 25.6% from $263.6 million.

Varonis posted total revenue of $111.4 million for the second quarter of 2022, up 26% from $88.4 million a year earlier. Subscription revenue rose 44% year over year and now dominates the mix. Maintenance and services revenue fell as perpetual licenses fade.

Varonis Systems opened fiscal 2022 with revenue of $96.3 million, up 28.7% from a year earlier. Annual recurring revenue reached $404.5 million, up 32%. Subscription revenue grew 53% to $69.0 million, while maintenance and services revenue declined from the prior year.

Varonis closed fiscal 2021 with fourth-quarter revenue of $126.6 million, up 33.0% from $95.2 million in the prior-year quarter. Full-year revenue reached $390.1 million, up 33.3% from $292.7 million in 2020.

Varonis crossed $100 million in quarterly revenue for the first time. Total revenues reached $100.4 million in the third quarter of 2021, up 30.8% from $76.75 million in the third quarter of 2020. Gross profit rose 31.4% to $86.0 million and gross margin ticked up to 85.7% from 85.3%.

Varonis reported second-quarter 2021 revenue of $88.4 million, up 32.8% from $66.6 million in the second quarter of 2020. North America revenue rose 34% over the prior-year period and EMEA revenue rose 31%. Gross profit climbed 32.0% to $74.2 million, from $56.2 million a year earlier.

Varonis reported first quarter revenue of $74.8 million, up 38% from $54.2 million in the prior year period. The subscription shift kept reshaping the mix. Subscriptions accounted for 59.9% of total revenue, up from 37.6% a year earlier, while maintenance and services fell to 39.7% of revenue from 61.7%.