Varonis Sys Inc Stock Price, News & Analysis

Varonis Systems, Inc. (Nasdaq: VRNS) reported strong Q2 2022 financial results, with annual recurring revenues (ARR) growing 30% year-over-year to $426.3 million and total revenues increasing 26% to $111.4 million. Subscription revenues surged 44% to $84.4 million, reflecting robust demand for its data security solutions. The company reaffirmed its annual financial guidance while raising expectations for operating income. Varonis also highlighted the completion of significant security assessments and recognized its workplace culture.

Varonis Systems (Nasdaq: VRNS) announced it will release its second quarter 2022 financial results on August 1, 2022, after U.S. markets close. A conference call will follow at 4:30 p.m. ET to discuss these results. Investors can access the call by dialing 877-425-9470 (domestic) or 201-389-0878 (international). A replay will be available through August 8, 2022. Varonis specializes in data security and analytics, focusing on protecting sensitive enterprise data and detecting cyber threats from internal and external sources.

Varonis Systems (Nasdaq: VRNS) has introduced new enhancements to its DatAdvantage Cloud solution, aimed at improving data security in Amazon S3. These features allow organizations to automatically discover and classify sensitive data, prevent unauthorized access, and pinpoint misconfigurations within S3 buckets. The enhancements provide continuous monitoring of sensitive data risks, addressing common data breach issues associated with misconfigured S3 buckets. Varonis emphasizes the importance of proactive measures to secure data stored on AWS.

Varonis Systems (Nasdaq: VRNS) announced that its DatAdvantage Cloud solution has achieved Level 1 certification from the Cloud Security Alliance (CSA) STAR registry, affirming its adherence to strict data security standards. This certification highlights Varonis' commitment to cloud security, enhancing its cloud-hosted solution designed for protecting sensitive data across SaaS and IaaS platforms. Additionally, Varonis has completed a SOC 2 Type 2 audit and holds multiple other certifications, including ISO/IEC standards, reinforcing its reputation in data security.

Varonis Systems (Nasdaq: VRNS) will participate as a Gold Sponsor at the RSA Conference 2022, scheduled from June 6-9 in San Francisco. Attendees can visit Booth #5545 for demonstrations on how to enhance data visibility and mitigate ransomware risks. Key sessions include discussions on cybersecurity outreach to Gen Z and strategies to defend against advanced adversaries targeting SaaS and IaaS. Varonis focuses on protecting sensitive data from cyber threats through its innovative security solutions.

Varonis Systems (Nasdaq: VRNS) expands its Asia-Pacific operations by appointing new country managers in India, Singapore, and Japan. Maheswaran Shamugasundaram, Shing Ping Loi, and Katsuya Tsujimoto bring over 75 years of combined experience in business development and sales from top technology and security firms. This strategic move aims to enhance Varonis' presence in these regions and address the growing need for data-centric cybersecurity solutions amidst ongoing digital transformation.

Varonis Systems (Nasdaq: VRNS), a leader in data security, announced its participation in major upcoming conferences. These include the 17th Annual Needham Technology & Media Conference on May 16 at 8 a.m. ET, the Cowen 50th Annual Technology, Media & Telecom Conference on June 2 at 3:20 p.m. ET, and the 42nd Annual William Blair Growth Stock Conference on June 6 at 3:40 p.m. ET. Presentations will be available via live webcasts on Varonis' investor relations website, which will also archive the sessions for a limited time.

Varonis Systems (Nasdaq: VRNS) reported a strong Q1 2022, with annual recurring revenues (ARR) rising 32% year-over-year to $404.5 million. Total revenues increased by 29% to $96.3 million. Subscription revenues soared by 53% to $69.0 million. Despite a write-off from its Russia business costing around $3 million in ARR, the company reaffirmed its full-year guidance for both revenue and ARR, anticipating $485 million to $490 million in revenue for the year. Varonis also generated $24.5 million in cash from operations, reflecting a strong demand environment.

Varonis Systems (Nasdaq: VRNS) announced new capabilities in data security for Salesforce on April 26, 2022. These updates enhance visibility and compliance by addressing permissions sprawl and misconfigurations that pose risks to sensitive data. Key features include a detailed permissions analysis, automatic classification of sensitive files, and anomaly detection for potential threats. The enhancements are part of DatAdvantage Cloud, offering a comprehensive security solution across various platforms. This release aims to fortify organizations’ security posture and ensure regulatory compliance.