Varonis Sys Inc Stock Price, News & Analysis

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.