Varonis Sys Inc Stock Price, News & Analysis

Varonis Systems, a leader in data security and analytics, announced its participation in several upcoming conferences. The events include the JMP Securities Technology Conference on March 1, 2021, the Morgan Stanley Technology, Media and Telecom Conference from March 1-4, 2021, and the Berenberg Cyber Security & DevOps Conference USA on March 11-12, 2021. Presentations will be available via live webcast and archived on Varonis’ Investor Relations website. Varonis focuses on safeguarding enterprise data from cyber threats through its innovative Data Security Platform.

Varonis Systems, Inc. (Nasdaq: VRNS) has announced the pricing of its upsized public offering of 2,307,693 shares at $195.00 per share, totaling approximately $450 million before underwriters' discounts. The offering includes a 30-day option for underwriters to acquire an additional 346,153 shares. The proceeds will be utilized for general corporate purposes, including working capital, capital expenditures, and potential acquisitions. The closing is anticipated on February 16, 2021.

Varonis Systems (Nasdaq: VRNS) has announced a public offering of $400 million in common stock, with a 30-day option for underwriters to purchase an additional $60 million. The proceeds will be utilized for general corporate purposes, including working capital and potential acquisitions. The offering is contingent on market conditions and is filed under an automatically effective shelf registration statement with the SEC. J.P. Morgan, Barclays, Jefferies, and RBC are the joint book-running managers for this offering.

Varonis Systems reported a 31% revenue growth for Q4 2020, reaching $95.2 million, driven by a 37% increase in annual recurring revenues, totaling $287.3 million. Subscription revenues surged 99% to $62.7 million. Despite a GAAP operating loss of $7.2 million, non-GAAP operating income showed improvement at $13.9 million. The company announced a three-for-one stock split and expects Q1 2021 revenues between $68.0 million and $69.5 million, projecting 26% to 28% growth.

Varonis Systems, Inc. (Nasdaq: VRNS) has announced enhancements to its Data Security Platform aimed at reducing sensitive data exposure within cloud environments, particularly Microsoft 365. The updates include new dashboard modules for visibility into collaboration risks, expanded threat detection for Azure AD, enhanced data searching capabilities, and support for additional NAS systems. These features are designed to improve data security and mitigate insider threat risks as organizations adapt to collaborative cloud-based environments.

Varonis Data Security Platform has been awarded the Cyber Catalyst designation by Marsh, recognizing its effectiveness in combating ransomware and enhancing cybersecurity. This designation potentially allows companies using this platform to receive better terms on cyber insurance. Varonis' platform was rated highest for reducing cyber risk, efficiency, and differentiation among over 90 solutions evaluated. The recognition comes as companies increasingly face sophisticated cyber threats and necessitate advanced threat detection capabilities.

Varonis Systems, Inc. (Nasdaq: VRNS) has announced it will report its fourth quarter and full-year 2020 financial results after the U.S. markets close on February 8, 2021. In conjunction with this announcement, a conference call will take place at 4:30 p.m. Eastern Time the same day, where financial results will be discussed. Investors can access the call via phone or through a live webcast on the company's Investor Relations page. A replay will be available until February 15, 2021.

Varonis Systems (Nasdaq: VRNS) has achieved Common Criteria certification from the National Information Assurance Partnership (NIAP), validating the security of its Data Security Platform for use in U.S. national security systems. This certification underscores Varonis' commitment to protecting sensitive data amid rising cybersecurity threats. The certification, valid for two years, confirms compliance with high security standards and enhances the company’s credibility among government clients, supporting their Zero Trust strategy for data protection.