VARONIS SYSTEMS INC VRNS

Technology SIC 7372 - Services-Prepackaged Software NAICS Information › Publishing Industries › Software Publishers derived Nasdaq

We were incorporated under the laws of the State of Delaware on November 3, 2004 and commenced operations on January 1, 2005. Our principal offices are located at 801 Brickell Avenue, Miami, FL 33131. For convenience in this report, the terms "Company," "Varonis," "we" and "us" may be used to refer to Varonis Systems, Inc. and/or its subsidiaries, except where indicated otherwise. Our telephone number is (877) 292-8767.

Varonis is a data security company focused on protecting what matters most to organizations: their data. Modern enterprises run on data that is created, copied, shared and accessed across cloud services, SaaS applications and on-premises environments, often faster than security teams can see, understand or control. We started Varonis around a simple observation that we believe has only intensified over time: the ability to create and share data scales far faster than the ability to secure it. Our strategy is built around closing that gap, giving organizations the deep visibility and automated controls to deeply understand their enterprise data, reduce exposure and respond to threats quickly, wherever their data lives.

Last close 48.88 2026-10-23
Market cap $5.61B 2026-06-30 share count
52-week range 19.70 - 63.80

Valuation FY2025 figures against the last close

P/S9.0x
P/E—
P/FCF41.6x
EV/EBITDA—
Dividend yield—
Diluted EPS-1.13

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $623.5M$551.0M$499.2M$473.6M$390.1M$292.7M$254.2M$270.3M$215.4M$165.9M
Cost of revenue $132.0M$93.8M$71.8M$69.8M$59.4M$44.3M$35.1M$27.7M$20.7M$15.7M
Gross profit $491.6M$457.1M$427.4M$403.8M$330.7M$248.4M$219.0M$242.6M$194.7M$150.1M
R&D $237.8M$196.8M$183.8M$177.9M$137.9M$99.4M$80.8M$70.0M$47.4M$36.7M
SG&A $98.9M$89.2M$82.9M$72.1M$61.2M$47.6M$44.4M$33.5M$26.8M$19.8M
Total operating expenses $638.1M$574.8M$544.6M$525.0M$429.4M$326.8M$295.0M$271.7M$208.1M$162.1M
Operating income -$146.5M-$117.7M-$117.2M-$121.2M-$98.7M-$78.4M-$76.0M-$29.1M-$13.4M-$12.0M
Pre-tax income -$116.3M-$83.0M-$86.9M-$110.8M-$110.8M-$85.9M-$76.4M-$28.2M-$11.1M-$12.9M
Income tax $13.0M$12.8M$14.0M$13.7M$6.0M$8.1M$2.4M$413.0K$2.8M$1.3M
Net income -$129.3M-$95.8M-$100.9M-$124.5M-$116.9M-$94.0M-$78.8M-$28.6M-$13.8M-$14.2M
EPS, basic -1.13-0.86-0.92-1.14-1.11-1.00————
EPS, diluted -1.13-0.86-0.92-1.14-1.11-1.00-2.60-0.98-0.50-0.54
Shares, diluted (wtd. avg.) 114.4M111.7M109.1M109.3M105.3M94.3M90.8M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $202.5M$185.6M$230.7M$367.8M$805.8M$234.1M$68.9M$48.7M$57.2M$48.8M
Short-term investments $681.2M$343.4M$253.2M$236.3M$0$34.1M$41.5M$39.8M$40.1M$65.5M
Receivables $242.8M$192.8M$169.1M$136.0M$117.2M$94.2M$75.0M$83.2M$75.6M$53.9M
Total current assets $1.30B$878.1M$767.2M$905.7M$959.2M$419.8M$214.9M$259.1M$226.5M$171.3M
Property, plant and equipment $36.0M$30.8M$34.0M$39.0M$38.3M$37.2M$36.3M$17.3M$11.9M$9.9M
Goodwill $135.3M$23.1M$23.1M$23.1M$23.1M$23.1M$0———
Other intangibles $16.7M$0$1.3M$2.8M$4.3M$5.8M$0———
Total assets $1.79B$1.66B$1.10B$1.04B$1.11B$555.5M$318.3M$285.0M$245.6M$181.8M
Accounts payable $5.7M$4.3M$672.0K$3.0M$5.3M$850.0K$997.0K$2.6M$635.0K$1.3M
Total current liabilities $659.0M$709.9M$306.8M$228.7M$211.8M$182.6M$159.6M$146.3M$116.6M$88.2M
Retained earnings -$869.5M-$740.2M-$644.4M-$543.5M-$427.6M-$310.7M-$216.7M-$138.0M-$109.4M-$106.1M
Total equity $598.7M$455.7M$489.6M$502.1M$596.6M$94.1M$93.5M$125.4M$114.6M$96.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $147.4M$115.2M$59.4M$11.9M$7.2M-$5.8M-$10.7M$23.5M$16.4M$7.3M
Depreciation and amortisation $12.3M$11.1M$11.7M$12.2M$10.9M$10.2M$6.3M$4.2M$3.3M$2.2M
Stock-based compensation $130.2M$126.7M$139.8M$142.9M$109.8M$68.6M$46.1M$35.0M$19.8M$12.9M
Capital expenditure $12.6M$6.7M$5.1M$11.4M$10.5M$10.1M$25.4M$9.6M$5.3M$3.8M
Investing cash flow -$837.0K-$532.3M-$143.1M-$374.3M$54.4M-$54.7M$33.3M-$40.2M-$20.0M-$12.3M
Financing cash flow -$129.7M$371.9M-$53.4M-$75.6M$510.1M$225.8M-$2.4M$8.1M$12.1M$4.1M
Buybacks $115.0M$0$43.5M$56.4M$0$0————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-015263.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M 800M Revenue, FY2016: 165.9M Gross profit, FY2016: 150.1M Net income, FY2016: -14.2M Revenue, FY2017: 215.4M Gross profit, FY2017: 194.7M Net income, FY2017: -13.8M Revenue, FY2018: 270.3M Gross profit, FY2018: 242.6M Net income, FY2018: -28.6M Revenue, FY2019: 254.2M Gross profit, FY2019: 219M Net income, FY2019: -78.8M Revenue, FY2020: 292.7M Gross profit, FY2020: 248.4M Net income, FY2020: -94M Revenue, FY2021: 390.1M Gross profit, FY2021: 330.7M Net income, FY2021: -116.9M Revenue, FY2022: 473.6M Gross profit, FY2022: 403.8M Net income, FY2022: -124.5M Revenue, FY2023: 499.2M Gross profit, FY2023: 427.4M Net income, FY2023: -100.9M Revenue, FY2024: 551M Gross profit, FY2024: 457.1M Net income, FY2024: -95.8M Revenue, FY2025: 623.5M Gross profit, FY2025: 491.6M Net income, FY2025: -129.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $165.9M $215.4M $270.3M $254.2M $292.7M $390.1M $473.6M $499.2M $551.0M $623.5M
Gross profit $150.1M $194.7M $242.6M $219.0M $248.4M $330.7M $403.8M $427.4M $457.1M $491.6M
Net income -$14.2M -$13.8M -$28.6M -$78.8M -$94.0M -$116.9M -$124.5M -$100.9M -$95.8M -$129.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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