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Varonis Systems, Inc. develops data and AI security software for organizations managing sensitive information across SaaS, IaaS, and hybrid cloud environments. Company news commonly covers the Varonis Data Security Platform, Atlas AI Security Platform, cloud-native security automation, managed detection and response, and controls for data exposure, access governance, data loss prevention, database activity monitoring, identity protection, email security, and AI usage.
Updates also include quarterly financial results and SaaS annual recurring revenue metrics, product launches, security certifications such as Spain’s ENS High level certification, cybersecurity conference activity, channel recognition, and investor presentations.
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%.
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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.