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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, Inc. (Nasdaq: VRNS) announced it will report its first quarter 2023 financial results after U.S. markets close on May 1, 2023. Following this announcement, a conference call will be hosted on the same day at 4:30 p.m. ET to discuss the financial results. Interested participants can access the call at 877-425-9470 domestically or 201-389-0878 internationally, using conference ID 13737641. A replay of the call will be available until May 8, 2023. Additionally, a live webcast will be accessible on Varonis' Investor Relations page, with the replay archived for one year. Varonis specializes in data security and analytics, focusing on protecting sensitive enterprise data from various cyber threats.
Varonis Systems, Inc. (Nasdaq: VRNS) has been recognized as a Leader in The Forrester Wave™: Data Security Platforms, Q1 2023. The independent research firm awarded Varonis the highest score in the strategy category and noted top performance in data classification, threat and risk visibility, and access controls. Varonis achieved a perfect score of 5.0 in 12 criteria, underscoring its capabilities in automated remediation and deep data visibility. The CEO emphasized this recognition as validation of their continuous innovation in data security.
On March 14, 2023, Varonis Systems, Inc. (Nasdaq: VRNS) hosted an Investor Day in New York, presenting updates on its vision and SaaS transition strategy. The company reaffirmed its guidance for Q1 and full-year 2023, projecting Q1 revenues between $106.0 million to $108.0 million, reflecting a 10% to 12% growth year-over-year. Varonis anticipates a full-year revenue range of $519.0 million to $529.0 million, along with an ARR of $513.0 million to $523.0 million. Non-GAAP operating loss is expected between ($7.0) million to ($6.0) million for Q1.
Varonis Systems, a leader in data security and analytics, announced its participation in two key upcoming conferences. The JMP Securities Technology Conference will take place from March 6-7, 2023, with Varonis presenting on March 7 at 11:30 a.m. PT. Additionally, the Morgan Stanley Technology, Media & Telecom Conference is scheduled for March 6-9, 2023, featuring Varonis on March 8 at 9:10 a.m. PT. Audio presentations will be available live and archived on their Investor Relations website. Varonis focuses on protecting sensitive enterprise data while addressing various cybersecurity challenges.
Varonis Systems, Inc. (Nasdaq: VRNS) has been honored by CRN in its annual Security 100 list, recognizing the company as a key player in IT channel security. The award highlights Varonis' innovative solutions in the Identity Management and Data Protection category, emphasizing its focus on automating data security to mitigate risks from oversharing and misconfigurations. Supported by a robust channel partner network, Varonis aims to address urgent security challenges faced by organizations today. The list serves as a guide for solution providers seeking top security vendors.
Varonis Systems (Nasdaq: VRNS) announced an Investor Day to be held on March 14, 2023, in New York, starting at 9:00 a.m. ET. The event will feature updates on the company’s vision and its SaaS transition strategy, presented by the executive management team. A Q&A session will follow. Attendees are encouraged to register via email. A live webcast will be available on the Investor Relations page of Varonis’ website, with a replay accessible for one year post-event. Varonis specializes in data security and analytics, focusing on protecting sensitive information.
Varonis Systems, Inc. (Nasdaq: VRNS) reported strong financial performance for Q4 and the full year 2022, with total revenues increasing by 13% year-over-year to $142.6 million. Subscription revenues grew 20% to $366.1 million for the year. The company achieved $465.1 million in annual recurring revenues (ARR), a 20% increase. Despite a GAAP operating loss of $121.2 million for the year, non-GAAP operating income rose to $29.5 million. The outlook for 2023 includes revenues of $519.0 million to $529.0 million, with a projected ARR growth of 10-12%. Varonis is also seeing an increasing mix of SaaS in its new business.
Varonis Systems, Inc. (Nasdaq: VRNS) has introduced a new initiative called Proactive Incident Response, aimed at enhancing data security for its customers. This service provides a global team of incident response analysts who monitor suspicious activities and respond to potential threats, significantly easing the burden on security operations teams. With the launch of their cloud-hosted Data Security Platform, Varonis aims to improve threat detection and response times. The initiative is part of a broader focus on delivering effortless security outcomes, following other recent announcements such as least privilege automation and data security posture management.
Varonis Systems (Nasdaq: VRNS) announced a significant upgrade to its data security platform with the launch of automated posture management. This feature enables users to swiftly remediate security and compliance issues across SaaS and IaaS platforms with a single click. Varonis continuously scans for cloud security risks, helping organizations maintain visibility and manage vulnerabilities effectively. Highlighting the severity of cloud misconfigurations, Gartner predicts that over 99% of breaches by 2025 will stem from such issues. Varonis aims to streamline the remediation process, offering a unified approach that enhances overall cloud security.
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