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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 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.
Varonis Systems, Inc. (Nasdaq: VRNS) will report its Q1 2021 financial results after market close on May 3, 2021. Following the announcement, a conference call will be held at 4:30 p.m. ET to discuss the results. Investors can dial in at 877-425-9470 (domestic) or 201-389-0878 (international). A replay will be available until May 10, 2021. Varonis specializes in data security and analytics, protecting sensitive enterprise data from cyber threats and ensuring compliance through automated solutions.
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.
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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.