VRNS Q2 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Varonis Systems delivered a strong second-quarter beat on both the top and bottom lines, with the data security firm's accelerating shift to SaaS emerging as the central force behind the results. Revenue climbed 16.7% year-over-year to $152.16 millio… Read more Varonis Systems delivered a strong second-quarter beat on both the top and bottom lines, with the data security firm's accelerating shift to SaaS emerging as the central force behind the results. Revenue climbed 16.7% year-over-year to $152.16 million, ahead of the $147.83 million consensus estimate, while non-GAAP EPS of $0.03 cleared the $0.01 consensus by 270.37%, a margin that reflected operational leverage even as the transition continues to reshape the revenue mix. SaaS revenue more than doubled to $105.89 million from $44.78 million a year ago, driving ARR 19% higher to $693.20 million, with SaaS now representing roughly 69% of total ARR. The conversion momentum was strong enough that Varonis raised its full-year SaaS mix target to 82% from 80%. Free cash flow improved to $82.66 million year-to-date, reinforcing the company's financial footing. Looking ahead, management raised full-year revenue guidance to $616 million to $628 million and expects Q3 revenues between $163 million and $168 million, with non-GAAP EPS of $0.07 to $0.08.