Varonis Sys Inc Stock Price, News & Analysis

Varonis Systems (Nasdaq: VRNS) announces its participation as a Gold Sponsor at Black Hat USA 2021 on August 4-5 in Las Vegas. Visitors can engage with Varonis at booth #1661 to explore its Data Security Platform, which aims to reduce the impact of cyberattacks. Highlights include a Lunch & Learn session on ransomware attacks and virtual demos offering gift cards for visitors. Varonis emphasizes its focus on data security and analytics, offering solutions to safeguard sensitive enterprise data.

Varonis Systems, Inc. (Nasdaq: VRNS) announced it will release its second quarter 2021 financial results after the U.S. markets close on August 2, 2021. A conference call will be held at 4:30 p.m. ET on the same day to discuss these results. Participants can join by dialing 877-425-9470 (domestic) or 201-389-0878 (international), with a replay available until August 9, 2021. The call will also be accessible via a live webcast on Varonis' Investor Relations page.

Varonis Systems has been selected to test its Data Security Platform in the DoD Zero Trust Testbed at DreamPort, a cyber innovation facility in Maryland. This initiative, supported by the U.S. Cyber Command and NSA, aims to enhance Zero Trust cybersecurity strategies. The platform's ability to increase visibility, enforce least privilege access, and reduce risks via automation led to its selection. Varonis continues to align with NSA guidance, promoting comprehensive security monitoring and real-time data protection in a dynamic threat environment.

Varonis Systems (Nasdaq: VRNS) has announced the opening of a new office in Cork City, Ireland, at Penrose Dock. The expansion is set to double the company’s workforce by creating approximately 60 new jobs over the next three years across various departments, including tech support and sales. Varonis’ commitment to Cork underscores the region's appeal for high-quality investment. The company, founded in 2005, focuses on data security and analytics, aiming to protect sensitive enterprise data and ensure compliance with regulations such as GDPR.

Varonis Systems (Nasdaq: VRNS) announced expanded support for cloud applications through its DatAdvantage Cloud solution, enhancing security across services like AWS, Box, GitHub, Google Drive, and Salesforce. This new capability allows organizations to visualize and mitigate risks from sensitive data exposure. Key features include remediation of data exposure, cross-cloud threat investigations, and automated identity linking. Varonis aims to address security complexities as reliance on cloud services grows, providing tools for proactive risk management.

Varonis Systems (Nasdaq: VRNS) will participate in several upcoming virtual conferences. These include the Needham Virtual Technology & Media Conference from May 17-20, with a presentation on May 19 at 9:30 am ET. They will also present at the J.P. Morgan Technology, Media & Communications Conference from May 24-26, specifically on May 25 at 9:30 am ET. Additionally, Varonis will join the William Blair 2021 Virtual Growth Stock Conference on June 1, presenting at 11:00 am ET, and the Cowen Technology, Media & Telecom Conference on June 3 at 10:30 am ET. Webcasts will be available on their Investor Relations site.

Varonis Systems reported a strong Q1 2021, with total revenues increasing by 38% year-over-year to $74.8 million.

Subscription revenues surged 120% to $44.8 million, contributing to an annual recurring revenue (ARR) of $306.9 million, up 39% from last year.

Despite a GAAP operating loss of ($34.1) million, non-GAAP losses improved to ($6.3) million. The company anticipates Q2 revenues between $82.5 million and $84.0 million, reflecting 24% to 26% growth.

Varonis has announced that its Data Security Platform is now compatible with Microsoft Azure Government for DoD/Impact Level 5 (IL5) and Microsoft 365 Government. This compliance allows Varonis to support DoD agencies in protecting Controlled Unclassified Information (CUI). Varonis emphasizes the importance of data security as agencies transition to hybrid cloud environments, advocating for automation and monitoring to mitigate risks. The company also recently achieved NIAP certification, enhancing its credibility in the cybersecurity landscape.

Varonis has announced that its Data Security Platform now supports Microsoft's U.S. Government Community Cloud (GCC/IL2) and GCC High (IL4) environments. This development aids federal agencies and government contractors in securely transitioning to the cloud while managing sensitive data. Varonis aims to mitigate risks associated with advanced cyberattacks, such as SolarWinds SUNBURST. The company recently achieved Common Criteria certification for its platform, further enhancing its credibility within the national security realm.