Varonis Sys Inc Stock Price, News & Analysis

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.

Varonis Systems has launched a groundbreaking fully autonomous remediation engine for cloud security, specifically targeting platforms like Microsoft 365, Google Drive, and Box. This innovation helps organizations automate least privilege access, continuously reducing unnecessary data risks without human intervention. Recent statistics show that an average cloud environment has over 40 million unique permissions and 157,000 sensitive records exposed online. Varonis aims to mitigate these risks by customizing remediation policies that adapt to security needs while allowing for seamless collaboration. The new platform seeks to address critical data security challenges through automation.

Varonis Systems, Inc. (Nasdaq: VRNS) will announce its fourth quarter and full-year 2022 financial results on February 6, 2023, after U.S. market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Investors can join by calling 877-425-9470 domestically or 201-389-0878 internationally, using conference ID 13735424. The call will be available for replay until February 13, 2023. For more information, visit Varonis's Investor Relations page.

Varonis Systems (Nasdaq: VRNS) announced its cloud-hosted data security platform achieved SOC 2 Type II compliance, validating its security, availability, confidentiality, and privacy standards. The audit, conducted by KPMG, confirms Varonis meets rigorous industry standards, further enhancing its compliance program that includes multiple ISO certifications. This emphasizes Varonis' commitment to customer data safety and enhances its reputation in the data security market.

Varonis Systems (Nasdaq: VRNS) has launched a public Vulnerability Disclosure Program (VDP) through HackerOne, aimed at enhancing the security of its platforms and products. This initiative allows the HackerOne community to report potential security vulnerabilities in Varonis' corporate and cloud environments, marking a significant step forward following the success of its private bug disclosure program. The VDP is expected to improve product security, enabling better protection against cyber threats and ensuring a more secure experience for customers.

Varonis Systems, a leader in data security and analytics, will participate in two key conferences on November 15, 2022. The first is the 16th Annual Needham Virtual Security, Networking, & Communications Conference at 8:45 a.m. ET, followed by the RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference at 11:10 a.m. ET. Both presentations will be available for live streaming on Varonis' investor relations website, with archived access for a limited time.

Varonis Systems, a leader in data security and analytics, has authorized a $100 million share repurchase program. This initiative is aimed at enhancing shareholder value and is expected to be completed within the next 12 months. The repurchase will occur through various channels in compliance with federal securities laws, depending on market conditions and company liquidity, reflecting Varonis' commitment to managing its capital effectively.