Varonis Sys Inc Stock Price, News & Analysis

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.

Varonis Systems (Nasdaq: VRNS) announced the early availability of its Data Security Platform as a SOC^® 2-compliant SaaS model. This new offering enhances data security by facilitating rapid deployment, reducing overall costs, and improving threat detection. Key features include real-time visibility of sensitive data, autonomous risk reduction, and proactive detection of anomalies. The CEO emphasized that this milestone significantly improves the capabilities for security teams managing complex data environments.

Varonis Systems, Inc. (VRNS) reported Q3 2022 financial results highlighting a 23% year-over-year revenue increase to $123.3 million. Subscription revenues soared by 37% to $96.1 million. Annual recurring revenues (ARR) rose 26% to $447.8 million. Despite a GAAP operating loss of $25.6 million, non-GAAP operating income improved to $9.8 million. The company announced a $100 million share repurchase authorization and adjusted full-year guidance due to macroeconomic headwinds, projecting 20-21% revenue growth for 2022.

Varonis Systems, Inc. (Nasdaq: VRNS) will disclose its third quarter 2022 financial results on October 31, 2022, after U.S. markets close. A conference call to discuss these results will take place at 4:30 p.m. ET on the same day. Interested parties can participate by calling 877-425-9470 domestically or 201-389-0878 internationally, using conference ID 13733544. A replay will be available until November 7, 2022. For further details, visit Varonis' Investor Relations page.

Varonis' recent report, The Great SaaS Data Exposure, reveals that businesses face an average of $28 million in data-breach risks due to sensitive cloud data exposure. Analyzing nearly 10 billion cloud objects across 700 companies, findings show that 81% have sensitive data exposed. Furthermore, 157,000 sensitive records are publicly accessible on the internet per company. The report highlights critical vulnerabilities, such as 4,468 user accounts without multi-factor authentication and over half of super admin accounts lacking this security measure.

Varonis Systems (Nasdaq: VRNS) has unveiled enhanced data discovery capabilities to combat data breaches caused by exposed secrets, including private keys and authentication tokens. This solution continually scans various platforms such as Windows, AWS, and Salesforce to identify improperly stored secrets. With the rising risks of data exposure in the cloud and app development, Varonis aims to provide accurate remediation and anomaly detection for organizations. The new features are available now, aiding in strengthening data security measures.

Varonis Systems (Nasdaq: VRNS) has introduced a transformative feature for Salesforce admins, enabling one-click permissions comparison and analysis, which saves significant time and enhances data security. This feature assists in identifying risky configurations and detecting threats to sensitive data. By analyzing user permissions through various methods, Varonis enhances Zero Trust data access. The DatAdvantage Cloud solution offers a quick installation process and provides immediate data security insights, streamlining admin tasks and reducing the risk of data exposure.

Varonis Systems, a leader in data security and analytics, will participate in two upcoming conferences. The first is Citi's 2022 Global Technology Conference, occurring in New York City from September 7-9, with a presentation on September 8 at 9:45 a.m. ET. The second is the Piper Sandler Growth Frontiers Conference in Nashville, Tennessee, from September 12-14, featuring a presentation on September 14 at 10 a.m. ET. Live audio of the presentations will be available on Varonis' Investor Relations website, with archives available for a limited time.

Varonis Systems (Nasdaq: VRNS) will participate in the KeyBanc Capital Markets Technology Leadership Forum from August 7-9, 2022, in Vail, Colorado. The company's presentation is scheduled for August 9 at 1:30 p.m. ET. The audio presentation will be webcast live and accessible via the Investor Relations section on Varonis' website. An archive of the webcast will be available post-conference for a limited time.

For further resources on Varonis solutions, visit their official website and social media platforms.