Varonis Systems, Inc.
Description
Varonis Systems, Inc. provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property. It offers DatAdvantage that captures, aggregates, normalizes, and analyzes every data access event for users on Windows and UNIX/Linux servers, storage devices, email systems, intranet servers, cloud applications, and data stores; and DatAlert that profiles users, devices, and their behaviors related to systems and data, detects and alerts on deviations that indicate compromise, and provides a web-based dashboard and investigative interface. It also provides data Classification engine that identifies and tags data based on criteria set in various metadata dimensions, as well as provides business and information technology (IT) personnel with actionable intelligence about data; and DataPrivilege. In addition, the company offers Data Transport Engine, an execution engine that unifies the manipulation of data and metadata, translating business decisions, and instructions into technical commands, such as data migration or archiving; and DatAnswers that provides search functionality for enterprise data. It serves its products to financial services, public, healthcare, industrial, technology, insurance, energy and utilities, consumer and retail, education and construction, and engineering sectors. The company sells its products through a network of distributors and resellers. Varonis Systems, Inc. was incorporated in 2004 and is headquartered in New York, New York.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 27, 2025 | — | — | — | — |
| Jul 28, 2025 | — | — | — | — |
| May 6, 2025 | — | — | — | — |
| Feb 3, 2025 | 0.14 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 17 | — | 20 |
| Average estimate | — | -0.02 | — | 0.35 |
| Low estimate | — | -0.10 | — | 0.17 |
| High estimate | — | 0.04 | — | 0.48 |
| Last year EPS | — | -0.03 | — | 0.27 |
Growth estimates
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 499.16M | 473.63M | 390.13M | 292.69M | 254.19M |
| Cost of revenue | 71.75M | 69.84M | 59.40M | 44.26M | 35.14M |
| Gross profit | 427.41M | 403.80M | 330.74M | 248.43M | 219.05M |
| Operating expense | |||||
| Research & development | 183.84M | 177.88M | 137.88M | 99.36M | 80.76M |
| Selling general and admin | 360.79M | 347.15M | 291.55M | 227.48M | 214.27M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -117.22M | -121.23M | -98.69M | -78.42M | -75.99M |
| Non operating interest income | |||||
| Income | 34.56M | 10.41M | 164,000 | 674,000 | 2.04M |
| Expense | 3.20M | 3.17M | 3.17M | 6.11M | — |
| Other income expense | 916,000 | 5.15M | -1.70M | -1.73M | -2.23M |
| Pretax income | -86.92M | -110.82M | -110.84M | -85.90M | -76.38M |
| Tax provision | 14.00M | 13.70M | 6.02M | 8.11M | 2.39M |
| Net income | -100.92M | -124.52M | -116.86M | -94.01M | -78.76M |
| Basic EPS | -0.92 | -1.14 | -1.11 | -1.00 | -0.87 |
| Diluted EPS | -0.92 | -1.14 | -1.11 | -1.00 | -0.87 |
| Basic average shares | 109.14M | 109.28M | 105.31M | 94.34M | 90.77M |
| Diluted average shares | 109.14M | 109.28M | 105.31M | 94.34M | 90.77M |
| EBITDA | -72.93M | -100.62M | -95.08M | -67.89M | -67.83M |
| Net income from continuing op. | -100.92M | -124.52M | -116.86M | -94.01M | -78.76M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 1.10B | 1.04B | 1.11B | 555.48M | 318.31M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 230.74M | 367.80M | 805.76M | 234.09M | 68.93M |
| Other short term investments | 302.98M | 364.69M | 1.85M | 64.17M | 51.53M |
| Accounts receivable | 169.12M | 135.98M | 117.18M | 94.23M | 75.05M |
| Other receivables | 15.41M | 7.18M | 3.33M | 1.59M | 1.36M |
| Inventory | — | — | — | — | — |
| Prepaid assets | 23.82M | 10.63M | 7.07M | 8.30M | 7.97M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | 3.41M | — | 6.08M | 3.33M | — |
| Other current assets | — | 7.18M | 3.33M | 1.59M | 1.36M |
| Non current assets | |||||
| Properties | 51.84M | 56.77M | 63.75M | 47.92M | 55.06M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 33.61M | 34.72M | 29.98M | 24.58M | 21.46M |
| Construction in progress | — | — | — | — | — |
| Leases | 45.88M | 45.52M | 42.42M | 37.39M | 31.29M |
| Accumulated depreciation | -45.52M | -41.19M | -34.10M | -24.81M | -16.41M |
| Goodwill | 47.53M | 49.06M | 50.58M | 52.12M | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 1.26M | 2.79M | 4.31M | 5.85M | — |
| Investments and advances | 211.06M | — | — | — | — |
| Other non current assets | 15.49M | 16.34M | 19.84M | 21.57M | 12.04M |
| Total liabilities | 614.26M | 541.61M | 511.94M | 461.41M | 224.78M |
| Current liabilities | |||||
| Accounts payable | 672,000 | 2.96M | 5.32M | 850,000 | 997,000 |
| Accrued expenses | 71.21M | 63.17M | 63.68M | 45.93M | 37.25M |
| Short term debt | 10.05M | 9.87M | 8.79M | — | — |
| Deferred revenue | 181.05M | 110.55M | 104.22M | 98.59M | 95.98M |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | 43.80M | 42.19M | 29.76M | 37.27M | 25.36M |
| Non current liabilities | |||||
| Long term debt | 301.79M | 306.59M | 294.02M | 273.00M | 57.04M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 4.81M | 4.77M | 3.58M | 3.00M | 2.70M |
| Shareholders equity | |||||
| Common stock | 109,000 | 108,000 | 108,000 | 95,000 | 31,000 |
| Retained earnings | -644.39M | -543.47M | -427.60M | -310.74M | -216.73M |
| Other shareholders equity | -8.65M | -9.56M | 6.08M | 9.37M | -449,000 |
| Total shareholders equity | 489.65M | 502.13M | 596.59M | 94.07M | 93.53M |
| Additional paid in capital | 1.14B | 1.06B | 1.02B | 395.35M | 310.68M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Net Income | -100.92M | -124.52M | -116.86M | -94.01M | -78.76M | -28.58M | -13.84M | -14.19M | -21.28M | -19.40M | -7.48M | -4.85M | -3.80M | -2.76M |
| Depreciation | 11.70M | 12.18M | 10.89M | 10.17M | 6.32M | 4.16M | 3.33M | 2.18M | 1.62M | 1.29M | 796,000 | 465,000 | 453,000 | 291,000 |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 139.82M | 142.86M | 109.78M | 68.59M | 46.14M | 34.96M | 19.84M | 12.94M | 7.79M | 4.66M | 1.79M | 848,000 | 235,000 | 511,000 |
| Other Non-Cash Items | 32.51M | 33.06M | 29.25M | 25.94M | 22.65M | 13.19M | 12.59M | 9.53M | — | 187,000 | 1.71M | 3.34M | -223,000 | 1.54M |
| Accounts Receivable | -33.14M | -18.80M | -22.95M | -19.08M | 8.17M | -7.63M | -21.74M | -6.43M | -9.57M | -9.60M | -8.23M | -4.37M | -3.22M | -4.66M |
| Accounts Payable | -2.29M | -2.36M | 4.47M | -328,000 | -1.62M | 1.99M | -653,000 | -1.32M | -91,000 | 540,000 | 267,000 | 1.12M | 171,000 | 185,000 |
| Other Assets & Liabilities | 47.82M | -14.90M | -12.75M | -12.64M | -11.52M | -2.49M | 5.71M | 374,000 | 11.74M | 9.66M | 7.73M | 4.10M | 6.25M | 5.54M |
| Operating Cash Flow | 95.51M | 27.51M | 1.83M | -21.36M | -8.62M | 15.59M | 5.24M | 3.08M | -9.79M | -12.66M | -3.42M | 651,000 | -125,000 | 656,000 |
| Investing Activities | ||||||||||||||
| Capital Expenditures | -5.10M | -11.38M | -10.49M | -10.12M | -25.38M | -9.56M | -5.29M | -3.82M | -4.53M | -2.33M | -1.35M | -920,000 | -561,000 | -633,000 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | -29.37M | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -653.77M | -420.44M | -50.00M | -141.58M | -154.21M | -30.32M | -39.73M | -8.39M | -22.00M | -30.76M | -4.00M | — | — | — |
| Sale of Investments | 515.79M | 57.56M | 114.87M | 126.32M | 212.89M | — | 25.33M | — | — | — | — | — | — | — |
| Investing Cash Flow | -143.08M | -374.25M | 54.38M | -57.35M | 33.28M | -40.19M | -20.00M | -12.32M | -26.52M | -32.82M | -5.72M | -921,000 | -524,000 | -912,000 |
| Financing Activities | ||||||||||||||
| Long-Term Debt Issuance | — | — | — | 245.31M | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | — | — | — | — | — | — | — | — | — | — | — | — | -458,000 | -1.75M |
| Other Financing Charges | -21.42M | -31.08M | -1.04M | -29.35M | — | — | — | — | — | -1.94M | -439,000 | — | — | — |
| Financing Cash Flow | -64.94M | -87.52M | 498.99M | 215.96M | — | — | — | — | — | 106.51M | -439,000 | 234,000 | 186,000 | -1.75M |
| Other Cash Details | ||||||||||||||
| End Cash Position | 230.74M | 367.80M | 805.76M | 234.09M | 68.93M | 48.71M | 57.24M | 48.80M | 49.71M | 76.59M | 9.63M | 14.47M | 12.98M | 12.14M |
| Income Tax Paid | 16.09M | 7.35M | 8.51M | 1.34M | 3.96M | 710,000 | 469,000 | 246,000 | 354,000 | 304,000 | 227,000 | 169,000 | 189,000 | 46,000 |
| Interest Paid | 3.20M | 3.17M | 3.17M | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 54.32M | 475,000 | -3.31M | -15.96M | -36.08M | 13.96M | 11.04M | 3.52M | -7.27M | -9.44M | -1.30M | 812,000 | 718,000 | 870,000 |
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