Varonis Sys Inc Stock Price, News & Analysis

Varonis Systems (Nasdaq: VRNS) announces its participation in two upcoming virtual conferences. The RBC Capital Markets Global Technology Conference is set for November 17-18, 2020, with a presentation at 10:00 am ET on November 17. Concurrently, the Needham & Company Security Conference is also scheduled for November 17, starting at 1:30 pm ET. Both presentations will be webcast live and available on the Varonis Investor Relations site. The company, a leader in data security analytics, focuses on protecting sensitive enterprise data and addressing insider threats.

Varonis Systems reported a 17% increase in total revenues for Q3 2020, reaching $76.8 million, with subscription revenues up 89% to $44.1 million, making up 99% of total license revenues. The company achieved annual recurring revenues of $261.1 million, a growth of 46% year-over-year. Varonis announced plans to acquire Polyrize to enhance its Data Security Platform, targeting additional cloud applications. Although there was a GAAP operating loss of $16.5 million, non-GAAP operating income stood at $3.1 million.

Varonis Systems (Nasdaq: VRNS) announced its participation in the upcoming NetApp INSIGHT virtual event series, taking place from October 26 to 29 across different regions. Attendees can expect a live Q&A and demonstration of Varonis' Data Security Platform, which enhances data protection for hybrid cloud systems against ransomware and insider threats. The event will also feature insights into Emotet infections and preventive measures. Furthermore, giveaways such as Apple AirPod Pros are available for participants engaging with Varonis experts.

Varonis Systems, Inc. (Nasdaq: VRNS) has announced it will report its 2020 third quarter financial results after U.S. market close on October 26, 2020. A conference call to discuss these results is scheduled for the same day at 4:30 p.m. ET. Investors can access the call by dialing 877-425-9470 domestically or 201-389-0878 internationally, with a conference ID of 13708857. A replay will be available through November 2, 2020. Varonis specializes in data security and analytics, focusing on protecting sensitive enterprise data and detecting insider threats.

Varonis Systems (Nasdaq: VRNS) will participate in the virtual Gartner Security & Risk Management Summit 2020 from September 14-17. Attendees can engage in live chats, schedule individual meetings, and view product demos in the Engagement Zone.

Varonis highlights include its Data Security Platform, which excels in risk detection and compliance monitoring. The platform has received top ratings on Gartner Peer Insights. Attendees can also win gift cards through participation in live chats.

Varonis Systems, a leader in data security, announced its participation in two upcoming virtual conferences. The D.A. Davidson 19th Annual Software and Internet Conference is on September 9, 2020, at 2:15 p.m. ET, followed by the Jefferies Software Conference on September 14-15, with Varonis presenting on September 14 at 11:30 a.m. ET. Live webcasts of the presentations will be available on the Varonis Investor Relations website, with archives accessible for a limited time post-conferences.

Varonis Systems (Nasdaq: VRNS) has been recognized as a 2020 Gartner Peer Insights Customers' Choice for File Analysis Software, receiving 145 verified five-star reviews, the most in the category. According to the report, 87% of Varonis customers would recommend its Data Security Platform, with a service and support score of 4.6 out of 5. The platform achieved the highest all-time ranking for five-star reviews on Gartner Peer Insights as of June 2020. Varonis emphasizes its role in data risk assessment and threat detection, aiding organizations in safeguarding sensitive data.

Varonis Systems (Nasdaq: VRNS) will participate in Black Hat USA 2020 on August 5-6. The company highlights its data security platform, emphasizing its ability to accelerate security investigations by 88%. Virtual attendees can visit Varonis' booth for insights and chances to win gift cards. Presentations will feature topics like phishing attacks on Office 365 and Wi-Fi security vulnerabilities. Varonis focuses on protecting sensitive data across various sectors, contributing to its reputation as a leader in data security and analytics.

Varonis Systems (Nasdaq: VRNS) reported a strong second quarter for 2020, achieving an annual recurring revenue (ARR) of $235.7 million, up 52% year-over-year. Subscription revenues surged 130% to $34.1 million, constituting nearly 99% of total license revenues. Total revenues reached $66.6 million, reflecting a 12% increase from the previous year. Despite a GAAP operating loss of $22.1 million, the company remains in a strong financial position with $326.1 million in cash. The outlook for Q3 expects revenues between $68.0 million and $71.0 million.