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Varonis Systems, Inc. (Nasdaq: VRNS) is a leading provider of data security and access governance solutions. Founded in 2004 and headquartered in New York, Varonis specializes in protecting the fastest-growing and most sensitive class of digital information: human-generated data. The company's innovative Data Security Platform combines advanced analytics with automated security measures to offer comprehensive data protection across various environments, including on-premises, SaaS, IaaS, and hybrid clouds.
Varonis empowers organizations to maintain total visibility and control over their data, ensuring that only authorized users can access critical information while monitoring and flagging any misuse. The company's patented technology and highly accurate analytics engine enable seamless digital collaboration, making it effortless and secure for users to create, share, and manage content.
As part of its ongoing cloud transition, Varonis has been focusing on migrating its on-premises customers to its cloud-native solutions delivered as Software-as-a-Service (SaaS). This strategic shift aims to provide more scalable and flexible data security options for organizations worldwide.
Varonis' portfolio includes solutions for data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management. The company's commitment to innovation is evident in its recent advancements in AI-powered automation, particularly with the introduction of Varonis for Microsoft 365 Copilot, which enhances AI security and compliance.
The company has garnered numerous accolades for its continuous innovation and effective security solutions. Notably, Varonis was honored for the sixth consecutive year by CRN’s Security 100 list, which recognizes top-tier companies providing groundbreaking security offerings. Additionally, the Varonis Data Security Platform received the Best DSPM award from Cyber Defense Magazine's Global InfoSec Awards.
Varonis engages with its clients through various channels, including its extensive network of channel partners and in-person events like Varonis Connect! These events provide valuable insights, educational sessions, and networking opportunities for security and risk executives.
Organizations worldwide trust Varonis to safeguard their data, automate security outcomes, and ensure compliance with evolving privacy regulations. By focusing on protecting data first, Varonis helps customers prevent data breaches and secure their most valuable assets. For more information, visit www.varonis.com.
Varonis Systems (Nasdaq: VRNS) announced expanded support for cloud applications through its DatAdvantage Cloud solution, enhancing security across services like AWS, Box, GitHub, Google Drive, and Salesforce. This new capability allows organizations to visualize and mitigate risks from sensitive data exposure. Key features include remediation of data exposure, cross-cloud threat investigations, and automated identity linking. Varonis aims to address security complexities as reliance on cloud services grows, providing tools for proactive risk management.
Varonis Systems (Nasdaq: VRNS) will participate in several upcoming virtual conferences. These include the Needham Virtual Technology & Media Conference from May 17-20, with a presentation on May 19 at 9:30 am ET. They will also present at the J.P. Morgan Technology, Media & Communications Conference from May 24-26, specifically on May 25 at 9:30 am ET. Additionally, Varonis will join the William Blair 2021 Virtual Growth Stock Conference on June 1, presenting at 11:00 am ET, and the Cowen Technology, Media & Telecom Conference on June 3 at 10:30 am ET. Webcasts will be available on their Investor Relations site.
Varonis Systems reported a strong Q1 2021, with total revenues increasing by 38% year-over-year to $74.8 million.
Subscription revenues surged 120% to $44.8 million, contributing to an annual recurring revenue (ARR) of $306.9 million, up 39% from last year.
Despite a GAAP operating loss of ($34.1) million, non-GAAP losses improved to ($6.3) million. The company anticipates Q2 revenues between $82.5 million and $84.0 million, reflecting 24% to 26% growth.
Varonis has announced that its Data Security Platform is now compatible with Microsoft Azure Government for DoD/Impact Level 5 (IL5) and Microsoft 365 Government. This compliance allows Varonis to support DoD agencies in protecting Controlled Unclassified Information (CUI). Varonis emphasizes the importance of data security as agencies transition to hybrid cloud environments, advocating for automation and monitoring to mitigate risks. The company also recently achieved NIAP certification, enhancing its credibility in the cybersecurity landscape.
Varonis has announced that its Data Security Platform now supports Microsoft's U.S. Government Community Cloud (GCC/IL2) and GCC High (IL4) environments. This development aids federal agencies and government contractors in securely transitioning to the cloud while managing sensitive data. Varonis aims to mitigate risks associated with advanced cyberattacks, such as SolarWinds SUNBURST. The company recently achieved Common Criteria certification for its platform, further enhancing its credibility within the national security realm.
Varonis Systems, Inc. (Nasdaq: VRNS) will report its Q1 2021 financial results after market close on May 3, 2021. Following the announcement, a conference call will be held at 4:30 p.m. ET to discuss the results. Investors can dial in at 877-425-9470 (domestic) or 201-389-0878 (international). A replay will be available until May 10, 2021. Varonis specializes in data security and analytics, protecting sensitive enterprise data from cyber threats and ensuring compliance through automated solutions.
Varonis Systems, a leader in data security and analytics, announced its participation in several upcoming conferences. The events include the JMP Securities Technology Conference on March 1, 2021, the Morgan Stanley Technology, Media and Telecom Conference from March 1-4, 2021, and the Berenberg Cyber Security & DevOps Conference USA on March 11-12, 2021. Presentations will be available via live webcast and archived on Varonis’ Investor Relations website. Varonis focuses on safeguarding enterprise data from cyber threats through its innovative Data Security Platform.
Varonis Systems, Inc. (Nasdaq: VRNS) has announced the pricing of its upsized public offering of 2,307,693 shares at $195.00 per share, totaling approximately $450 million before underwriters' discounts. The offering includes a 30-day option for underwriters to acquire an additional 346,153 shares. The proceeds will be utilized for general corporate purposes, including working capital, capital expenditures, and potential acquisitions. The closing is anticipated on February 16, 2021.
Varonis Systems (Nasdaq: VRNS) has announced a public offering of $400 million in common stock, with a 30-day option for underwriters to purchase an additional $60 million. The proceeds will be utilized for general corporate purposes, including working capital and potential acquisitions. The offering is contingent on market conditions and is filed under an automatically effective shelf registration statement with the SEC. J.P. Morgan, Barclays, Jefferies, and RBC are the joint book-running managers for this offering.
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