Varonis Announces $100 Million Share Repurchase Authorization
Varonis Systems (VRNS) has announced a significant share repurchase program authorized by its board of directors. The program allows for the repurchase of up to $100.0 million of the company's common stock, expected to be completed within the next 12 months.
The data security leader will execute the repurchases through various methods, including open market purchases and privately-negotiated transactions, in compliance with federal securities laws. The specific timing and number of shares to be repurchased will be determined based on Varonis' trading windows, available liquidity, and general business and market conditions.
Varonis Systems (VRNS) ha annunciato un significativo programma di riacquisto di azioni autorizzato dal suo consiglio di amministrazione. Il programma prevede il riacquisto di un massimo di $100.0 milioni delle azioni ordinarie della società, previsto per essere completato entro i prossimi 12 mesi.
Il leader della sicurezza dei dati eseguirà i riacquisti attraverso vari metodi, inclusi acquisti sul mercato aperto e transazioni negoziate privatamente, in conformità con le leggi federali sui valori mobiliari. Il momento specifico e il numero di azioni da riacquistare saranno determinati in base alle finestre di trading di Varonis, alla liquidità disponibile e alle condizioni generali di mercato e aziendali.
Varonis Systems (VRNS) ha anunciado un programa significativo de recompra de acciones autorizado por su consejo de administración. El programa permite la recompra de hasta $100.0 millones de las acciones ordinarias de la empresa, que se espera completar en los próximos 12 meses.
El líder en seguridad de datos llevará a cabo las recompras a través de varios métodos, incluyendo compras en el mercado abierto y transacciones negociadas en privado, cumpliendo con las leyes federales de valores. El momento específico y el número de acciones a recomprar se determinarán en función de las ventanas de negociación de Varonis, la liquidez disponible y las condiciones generales del negocio y del mercado.
Varonis Systems (VRNS)는 이사회에서 승인한 중요한 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 회사의 보통주 최대 $100.0 백만을 매입할 수 있도록 하며, 향후 12개월 이내에 완료될 것으로 예상됩니다.
데이터 보안 업계의 선두주자는 공개 시장 구매 및 비공식 거래를 포함하여 다양한 방법으로 자사주 매입을 실행하며, 연방 증권 법을 준수합니다. 매입의 구체적인 시기와 주식 수는 Varonis의 거래 창, 가용 유동성 및 일반적인 비즈니스 및 시장 조건에 따라 결정됩니다.
Varonis Systems (VRNS) a annoncé un programme de rachat d'actions significatif autorisé par son conseil d'administration. Le programme permet le rachat de jusqu'à 100 millions de dollars d'actions ordinaires de la société, qui devrait être achevé dans les 12 prochains mois.
Le leader en sécurité des données effectuera les rachats par divers moyens, y compris les achats sur le marché ouvert et les transactions négociées en privé, conformément aux lois fédérales sur les valeurs mobilières. Le moment spécifique et le nombre d'actions à racheter seront déterminés en fonction des fenêtres de trading de Varonis, de la liquidité disponible et des conditions générales du marché et des affaires.
Varonis Systems (VRNS) hat ein bedeutendes Aktienrückkaufprogramm bekannt gegeben, das von seinem Vorstand genehmigt wurde. Das Programm erlaubt den Rückkauf von bis zu 100 Millionen USD der Stammaktien des Unternehmens, das voraussichtlich innerhalb der nächsten 12 Monate abgeschlossen wird.
Der Marktführer im Bereich Datensicherheit wird die Rückkäufe durch verschiedene Methoden durchführen, darunter Käufe auf dem offenen Markt und privat verhandelte Transaktionen, in Übereinstimmung mit den bundesstaatlichen Wertpapiergesetzen. Der genaue Zeitpunkt und die Anzahl der zurückzukaufenden Aktien werden basierend auf Varoni's Handelsfenstern, verfügbarer Liquidität sowie den allgemeinen Geschäfts- und Marktbedingungen festgelegt.
- Authorization of $100 million share repurchase program
- 12-month timeframe shows structured approach to capital return
- Flexible repurchase methods including open market and private transactions
- Program signals management's confidence in company's financial position
- Significant cash expenditure may reduce funds available for operations or growth
- Program execution subject to market conditions and trading windows
- No guaranteed completion amount or timeline specified
Insights
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The timing is particularly noteworthy given the current cybersecurity landscape. With escalating global cyber threats and increased enterprise spending on data security, Varonis' confidence in executing buybacks while maintaining operational investments indicates robust underlying business fundamentals. The 12-month window and multiple repurchase mechanisms provide tactical advantages in execution.
Three key implications emerge:
- Financial Strength: The authorization suggests excess cash beyond operational needs, indicating healthy cash flow generation from their subscription-based model.
- Strategic Flexibility: The program's structure through various repurchase methods, including 10b5-1 plans, enables systematic buying while maintaining compliance and reducing market impact.
- Capital Efficiency: This balanced approach to shareholder returns while maintaining investment capacity reflects disciplined capital management in a high-growth sector.
However, investors should note that the actual impact will depend on execution timing and price levels, as the authorization is not a commitment to repurchase the full amount. The program's success will be measured against alternative uses of capital, including R&D and potential M&A opportunities in the rapidly evolving cybersecurity space.
MIAMI, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, announced that its board of directors authorized a share repurchase program allowing repurchases of up to
Under the share repurchase program, Varonis is authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The number of shares to be purchased and the timing of purchases will be based on Varonis’ trading windows, available liquidity, and general business and market conditions.
Forward-Looking Statements
This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance but are based on management's expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: the impact of potential information technology, cybersecurity or data security breaches; risks associated with anticipated growth in Varonis’ addressable market; general economic and industry conditions, such as foreign currency exchange rate fluctuations and expenditure trends for data and cybersecurity solutions; Varonis’ ability to predict the timing and rate of subscription renewals and their impact on the Company’s future revenues and operating results; risks associated with international operations; the impact of global conflicts on the budgets of our clients and on economic conditions generally; competitive factors, including increased sales cycle time, changes in the competitive environment, pricing changes and increased competition; the risk that Varonis may not be able to attract or retain employees, including sales personnel and engineers; Varonis’ ability to build and expand its direct sales efforts and reseller distribution channels; risks associated with the closing of large transactions, including Varonis’ ability to close large transactions consistently on a quarterly basis; new product introductions and Varonis’ ability to develop and deliver innovative products; Varonis’ ability to provide high-quality service and support offerings; the expansion of cloud-delivered services; and risks associated with our convertible notes and capped-call transactions. These and other important risk factors are described more fully in Varonis’ reports and other documents filed with the Securities and Exchange Commission and could cause actual results to vary from expectations. All information provided in this press release is as of the date hereof, and Varonis undertakes no duty to update or revise this information, whether as a result of new information, new developments or otherwise, except as required by law.
About Varonis
Varonis (Nasdaq: VRNS) is a leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.
Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management.
Varonis protects data first, not last. Learn more at www.varonis.com.
Investor Relations Contact:
Tim Perz
Varonis Systems, Inc.
646-640-2112
investors@varonis.com
News Media Contact:
Rachel Hunt
Varonis Systems, Inc.
877-292-8767 (ext. 1598)
pr@varonis.com
FAQ
How much is Varonis (VRNS) planning to spend on share buybacks?
When will VRNS complete its $100 million share repurchase program?
What methods will Varonis use to execute its share buyback program?
What factors will determine the timing of VRNS share repurchases?
Is Varonis guaranteed to repurchase the full $100 million in shares?
