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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), a data security leader, has announced its participation in four major technology conferences in late 2024. The company will present at the RBC Capital Markets Global Technology Conference (Nov 19, New York), the Wells Fargo TMT Summit (Dec 3, Rancho Palos Verdes), the UBS Global Technology and AI Conference (Dec 4, Scottsdale), and the Barclays Global Technology Conference (Dec 12, San Francisco).
All presentations will be accessible via live webcast through Varonis' Investor Relations website and will be archived for a time.
Varonis Systems (VRNS) reported strong Q3 2024 results with total revenues of $148.1 million, up from $122.3 million in Q3 2023. SaaS revenues significantly increased to $57.8 million from $13.7 million year-over-year. The company's Annual Recurring Revenue (ARR) grew 18% to $610.0 million, with SaaS ARR representing 43% of total ARR. Despite a GAAP operating loss of ($23.6) million, non-GAAP operating income improved to $9.1 million. Year-to-date cash from operations reached $90.9 million, with free cash flow of $88.6 million. The company raised its full-year 2024 guidance, expecting revenues between $554.4-$559.4 million.
Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, has announced the date for its third quarter 2024 financial results. The company will report its results after the U.S. financial markets close on Tuesday, October 29, 2024. A conference call will be held on the same day at 4:30 p.m. ET to discuss the financial results.
Interested parties can access the call by dialing 877-425-9470 (domestic) or 201-389-0878 (international), using the conference ID 13749435. A replay will be available until November 5, 2024. A live webcast of the conference call will be accessible on the company's Investor Relations page, with the replay archived for one year.
Varonis Systems, Inc. (Nasdaq: VRNS) has unveiled new automated remediation capabilities for its Salesforce security offering at Dreamforce 2024. The enhanced solution now includes four new features designed to automatically identify and eliminate data security risks in Salesforce environments. These additions expand Varonis' library of automations, ensuring continuous data security across customers' data estates.
Key capabilities of the updated Varonis solution include:
- Preventing sensitive data exfiltration by specific users
- Identifying and addressing non-expiring passwords
- Controlling third-party API connections
- Ensuring proper data access permissions
Varonis is exhibiting as a Navigator Level sponsor at Dreamforce 2024, showcasing its enhanced Salesforce security solutions at booth #1320.
Varonis Systems, Inc. (Nasdaq: VRNS) has announced the pricing of a private offering of $400 million aggregate principal amount of 1.00% Convertible Senior Notes due 2029. The offering size was increased from the previously announced $350 million. The Notes, maturing on September 15, 2029, will be convertible at an initial rate of 14.7419 shares of the Company's common stock per $1,000 principal amount (equivalent to an initial conversion price of approximately $67.83 per share). Varonis estimates net proceeds of about $390.8 million, which will be used for working capital, general corporate purposes, and potentially for acquisitions or investments. The company has also entered into capped call transactions to reduce potential dilution.
Varonis Systems (VRNS) has announced plans to offer $350 million in Convertible Senior Notes due 2029, with an option for initial purchasers to buy an additional $52.5 million. The notes will be unsecured senior obligations, maturing on September 15, 2029, with interest payable semiannually. They will be convertible under certain conditions and can be settled in cash, Varonis common stock, or a combination.
The company intends to use the proceeds for working capital, general corporate purposes, and potential acquisitions. Varonis also plans to enter into capped call transactions to reduce potential dilution from the notes. The offering is to qualified institutional buyers under Rule 144A of the Securities Act.
Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, has announced its participation in the upcoming Citi's 2024 Global TMT Conference and GEMS Conference in New York. The company's presentation is scheduled for September 4 at 2:10 p.m. ET.
Investors and interested parties can access the live audio webcast of the presentation through the 'Investor Relations' section of Varonis' website at ir.varonis.com. The webcast will be archived on the site for a time after the conference.
For those seeking more information about Varonis' solution portfolio, the company's website at www.varonis.com offers comprehensive details. Varonis also encourages engagement through its blog and social media platforms, including X (Twitter), LinkedIn, and YouTube.
Varonis Systems, Inc. (Nasdaq: VRNS) has announced new integrations with SentinelOne and Microsoft Defender for Endpoint. These integrations enhance Varonis' Managed Data Detection and Response (MDDR) service by expanding visibility to customers' endpoints. Key benefits include:
1. Earlier threat detection: MDDR analysts can identify and stop threats earlier in the kill chain using EDR alerts.
2. Swifter investigations: Consolidation of telemetry from multiple detection surfaces for fast and conclusive forensics.
3. Maximized EDR investment: Correlation of EDR alerts with Varonis' data-centric alerts to spot threats that might go unnoticed.
The integrations are immediately available, aiming to address visibility gaps exploited by threat actors and enhance the value of Varonis' MDDR offering.
Varonis Systems, Inc. (Nasdaq: VRNS) has unveiled new AI-powered data discovery and classification capabilities to enhance its data security platform. This advancement offers:
- Minimal training requirements with high accuracy
- Cost-effective local data scanning without data leaving customer environments
- Transparent and flexible AI models for easy validation
The new AI classifiers complement Varonis' existing classification engine, providing a comprehensive toolkit for organizations to accurately identify and categorize their unique data types. This innovation aims to improve risk prioritization, exposure remediation, and security control enforcement.
Varonis Systems, Inc. (VRNS) announced strong Q2 2024 financial results, highlighting 18% year-over-year growth in annual recurring revenues (ARR) to $584.2 million. SaaS ARR reached 36% of total ARR, reflecting growing momentum in their SaaS platform. Total revenues increased to $130.3 million, up from $115.4 million in Q2 2023. The company reported improved cash flow, generating $68.4 million from operations and $67.3 million in free cash flow year-to-date. Varonis raised its full-year ARR and free cash flow guidance, expecting ARR to reach $629.0-$635.0 million and free cash flow of $80.0-$85.0 million for 2024. The company also increased its SaaS ARR expectations to 48% for the full year, demonstrating strong adoption of its SaaS offerings.
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