Varonis Sys Inc Stock Price, News & Analysis

Varonis Systems (Nasdaq: VRNS) has been recognized in Institutional Investor's 2022 All-America Executive Team, achieving top three rankings across eight categories in the midcap software sector. CFO Guy Melamed secured the 1^st place in the 'Best CFO' category, while CEO Yaki Faitelson was ranked 2^nd as 'Best CEO'. The firm also earned several 2^nd and 3^rd place honors, including recognition for its investor relations team and ESG efforts. This acknowledgment highlights Varonis' strong communication and stakeholder engagement, particularly during the pandemic.

Varonis Systems has announced a virtual event titled Top Cloud Security Risks for 2022, scheduled for November 18, 2021, at noon EST. This event targets security and IT professionals, discussing how cloud applications introduce risks and how to mitigate them using a data-first approach. For every attendee, Varonis will donate $5 to Action Against Hunger, up to $5,000. Participants will also have chances to win Amazon gift cards. Varonis is known for its focus on data security and analytics, protecting sensitive enterprise data from various cyber threats.

Varonis Systems (Nasdaq: VRNS) announced its participation in three upcoming conferences in November 2021. The events include the Jefferies Cybersecurity Summit on November 10 at 12:35 pm ET, the Needham Security, Networking & Communications Conference on November 16 at 8:45 am ET, and the RBC Global Technology Conference from November 16-17, with a presentation on November 17 at 10:55 am ET. Varonis will webcast these presentations live, accessible via the 'Investor Relations' section of their website.

Varonis Systems (VRNS) reported a strong third quarter with total revenues reaching $100.4 million, a 31% year-over-year increase. Subscription revenues surged 59% to $70.0 million. Annual recurring revenues (ARR) grew 36% year-over-year to $354.2 million. Despite a GAAP operating loss of $18.6 million, non-GAAP operating income rose to $8.1 million, up from $3.1 million the previous year. For Q4 2021, Varonis anticipates revenues between $120.0 million and $123.0 million, maintaining a positive outlook for growth.

Varonis Systems has released the 2021 Australian Cybersecurity Risk Report, indicating that 63% of Australian organizations perceive a likely cyberattack within the next year. Despite this, 82% rated their cyber defense capabilities as strong. Key concerns include data loss (53%) and human error (40%). The report emphasizes the necessity for proactive data management and cybersecurity education to mitigate risks. Varonis urges organizations to limit the potential damage from breaches and enhance their security posture.

Varonis Systems, Inc. (Nasdaq: VRNS) announced it will release its third quarter 2021 financial results on November 1, 2021, post-market close. Following this, a conference call will be held at 4:30 p.m. ET to discuss the results. Interested parties can access the call by dialing the provided numbers, and a replay will be available until November 8, 2021. Additionally, a live webcast will be accessible on Varonis' Investor Relations page, with an archival replay for one year. For more detailed insights about Varonis' offerings, please visit their official website.

Varonis Systems (Nasdaq: VRNS) has launched Data Classification Cloud for Box and Google Drive, enhancing its DatAdvantage Cloud solution that monitors and protects data across various SaaS and IaaS applications. This new service automatically discovers sensitive data, providing organizations with insights into data exposure and access control. Key features include the ability to find hidden sensitive data using over 400 classification patterns, ensuring accuracy through advanced matching techniques, and enhancing security by monitoring access to sensitive information.

Varonis Systems, a leader in data security and analytics, will participate in key upcoming conferences. The Wolfe Inaugural TMT Conference is set for September 8-9, 2021, with a presentation at 2:00 pm ET on September 8. Varonis will also appear at the Citi Global Technology Virtual Conference from September 13-15, presenting at 10:30 am ET on September 13, and the Jefferies Virtual Software Conference from September 14-15, with a presentation at 9:30 am ET on September 15. Webcasts of these events will be available via the Investor Relations section of the Varonis website.

Varonis Systems reported a 33% year-over-year revenue growth, reaching $88.4 million in Q2 2021, driven by a 70% surge in subscription revenues to $58.1 million.

Annual recurring revenues (ARR) rose to $328.2 million, a 39% increase year-over-year. Despite the revenue growth, the company posted a GAAP operating loss of ($28.2) million. Looking ahead, Varonis expects Q3 revenues between $96.0 million and $98.0 million, indicating a year-over-year increase of 25% to 28%.