NASDAQ Framework: Varonis Systems Inc.

Cybersecurity vendor focused on data security 1.

Varonis Systems Inc., established in 2004 and public since 2014, is a cybersecurity vendor specializing in data privacy and security. The company provides software products and services that enable enterprises to manage, analyze, alert, and secure data across on-premises and cloud environments, including sensitive files, emails, financial records, and intellectual property 2. Varonis is currently transitioning its on-premises customers to cloud-based solutions delivered through its software-as-a-service (SaaS) model, with significant growth in SaaS revenues and annual recurring revenues (ARR) 3 4 5. The firm also focuses on data security posture management (DSPM), data classification, data access governance, data detection and response, data loss prevention, and insider risk management 6.

2: 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. View Source3: Varonis Systems, established in 2004 and public since 2014, specializes in cybersecurity with a focus on data privacy and security. The company is in the midst of transitioning its on-premises customers to cloud-based solutions, delivered through its software-as-a-service (SaaS) model. View Source4: Varonis reported a significant shift in its revenue composition, with SaaS revenues soaring to $34.0 million from just $2.1 million in Q1 2023. This growth underscores the successful adoption of the company's cloud transition strategy. Despite the impressive growth in SaaS, total term license subscription revenues saw a decline to $56.0 million from $80.9 million in the previous year, reflecting the ongoing shift in the company's sales model. View Source5: The company's annual recurring revenues (ARR) grew by 17% year-over-year, reaching $560.3 million, with SaaS ARR now constituting about 30% of the total ARR. This transition is pivotal as Varonis evolves its offerings to align with market demands for cloud-based security solutions. View Source6: Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management. View Source

UNKNOWN

The provided facts do not specify whether the founders of Varonis Systems Inc. are still leading the company or are heavily involved in its operations. The information mentions the current CEO, President, and Chairman, Faitelson Yakov, but does not clarify if he is one of the founders 7 8.

7: Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 3.49 percent of Varonis Systems Inc shares are owned by insiders, and 99.48 percent are held by financial institutions. Faitelson Yakov, the CEO, President, Chairman at Varonis Systems Inc (VRNS) has sold 47,457 shares of firm on May 10 ’24 at a price of $44.53 against the total amount of $2.11 million. In another inside trade, Faitelson Yakov, CEO, President, Chairman of Varonis Systems Inc (NASDAQ:VRNS) sold 284,211 shares of the firm on May 09 ’24 for a total worth of $12.86 million at a price of $45.23. An inside trade which took place on Feb 29 ’24, Director of Varonis Systems Inc Iohan Gili sold 19,500 shares of firm against total price of $0.99 million at the cost of $50.54 per share. View Source8: Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 3.49 percent of Varonis Systems Inc shares are owned by insiders, and 99.42 percent are held by financial institutions. Faitelson Yakov, the CEO, President, Chairman at Varonis Systems Inc (VRNS) has sold 47,457 shares of firm on May 10 ’24 at a price of $44.53 against the total amount of $2.11 million. In another inside trade, Faitelson Yakov, CEO, President, Chairman of Varonis Systems Inc (NASDAQ:VRNS) sold 284,211 shares of the firm on May 09 ’24 for a total worth of $12.86 million at a price of $45.23. An inside trade which took place on Feb 29 ’24, Director of Varonis Systems Inc Iohan Gili sold 19,500 shares of firm against total price of $0.99 million at the cost of $50.54 per share. View Source

MEDIUM RISK

Varonis Systems Inc. is experiencing significant growth in its SaaS revenues and annual recurring revenues (ARR) as it transitions from on-premises to cloud-based solutions 9 10. However, the company is facing challenges, including a widening GAAP operating loss and increased operating expenses 11 12. Despite these challenges, Varonis has a strong liquidity position with $774.4 million in cash and cash equivalents and a robust year-to-date cash from operations 13. The combination of these factors places Varonis in a medium-risk category, as it is navigating through its cloud transition while managing financial losses and increased expenses.

9: Varonis reported a significant shift in its revenue composition, with SaaS revenues soaring to $34.0 million from just $2.1 million in Q1 2023. This growth underscores the successful adoption of the company's cloud transition strategy. Despite the impressive growth in SaaS, total term license subscription revenues saw a decline to $56.0 million from $80.9 million in the previous year, reflecting the ongoing shift in the company's sales model. View Source10: The company's annual recurring revenues (ARR) grew by 17% year-over-year, reaching $560.3 million, with SaaS ARR now constituting about 30% of the total ARR. This transition is pivotal as Varonis evolves its offerings to align with market demands for cloud-based security solutions. View Source11: Despite the strong growth in SaaS and ARR, Varonis faced challenges as evidenced by the widening GAAP operating loss. The increase in operating expenses, particularly in research and development and sales and marketing, which totaled $140.3 million compared to $132.8 million in Q1 2023, reflects ongoing investments in product development and market expansion. View Source12: On May 6, 2024, Varonis Systems Inc (NASDAQ:VRNS) disclosed its financial results for the first quarter ended March 31, 2024, through its 8-K filing. The New York-based data security firm reported a total revenue of $114.0 million, slightly edging past the analyst estimates of $113.62 million. However, the company experienced a GAAP operating loss of $47.6 million, deepening from a loss of $43.1 million in the same quarter the previous year. View Source13: From a liquidity perspective, Varonis ended the quarter with $774.4 million in cash and cash equivalents, short-term deposits, and marketable securities. The company also reported a robust year-to-date cash from operations of $56.7 million, a significant increase from $36.8 million in the prior year, and similarly, free cash flow increased to $56.4 million from $35.7 million. View Source

YES

Varonis Systems Inc. is launching new product offerings, such as the recently announced Varonis for Microsoft 365 Copilot, aimed at securing Microsoft's AI-powered productivity tools 14.

14: However, these investments are crucial for Varonis as it continues to innovate and expand its product offerings, such as the recently announced Varonis for Microsoft 365 Copilot, aimed at securing Microsoft's AI-powered productivity tools. These initiatives are vital for maintaining competitive advantage in the rapidly evolving cybersecurity landscape. View Source

Varonis Systems Inc. is strategically focused on expanding its cloud-based solutions and enhancing its product offerings from 2024 through 2026. The company is actively transitioning its on-premises customers to its software-as-a-service (SaaS) model, which has already shown significant growth in SaaS revenues and annual recurring revenues (ARR) [fERROR]Varonis Systems Inc. is strategically focused on expanding its cloud-based solutions and enhancing its product offerings from 2024 through 2026. The company is actively transitioning its on-premises customers to its software-as-a-service (SaaS) model, which has already shown significant growth in SaaS revenues and annual recurring revenues (ARR) [fERROR][fERROR]Varonis Systems Inc. is strategically focused on expanding its cloud-based solutions and enhancing its product offerings from 2024 through 2026. The company is actively transitioning its on-premises customers to its software-as-a-service (SaaS) model, which has already shown significant growth in SaaS revenues and annual recurring revenues (ARR) [fERROR][fERROR][fERROR]Varonis Systems Inc. is strategically focused on expanding its cloud-based solutions and enhancing its product offerings from 2024 through 2026. The company is actively transitioning its on-premises customers to its software-as-a-service (SaaS) model, which has already shown significant growth in SaaS revenues and annual recurring revenues (ARR) [fERROR][fERROR][fERROR]. Varonis is also investing in innovative solutions like Varonis for Microsoft 365 Copilot to secure AI-powered productivity tools [fERROR]Varonis Systems Inc. is strategically focused on expanding its cloud-based solutions and enhancing its product offerings from 2024 through 2026. The company is actively transitioning its on-premises customers to its software-as-a-service (SaaS) model, which has already shown significant growth in SaaS revenues and annual recurring revenues (ARR) [fERROR][fERROR][fERROR]. Varonis is also investing in innovative solutions like Varonis for Microsoft 365 Copilot to secure AI-powered productivity tools [fERROR]. Additionally, the firm is enhancing its capabilities in data security posture management (DSPM), data classification, data access governance, data detection and response, data loss prevention, and insider risk management to meet the evolving needs of its customers [fERROR]Varonis Systems Inc. is strategically focused on expanding its cloud-based solutions and enhancing its product offerings from 2024 through 2026. The company is actively transitioning its on-premises customers to its software-as-a-service (SaaS) model, which has already shown significant growth in SaaS revenues and annual recurring revenues (ARR) [fERROR][fERROR][fERROR]. Varonis is also investing in innovative solutions like Varonis for Microsoft 365 Copilot to secure AI-powered productivity tools [fERROR]. Additionally, the firm is enhancing its capabilities in data security posture management (DSPM), data classification, data access governance, data detection and response, data loss prevention, and insider risk management to meet the evolving needs of its customers [fERROR].

Sources

1: 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. View Source2: 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. View Source3: Varonis Systems, established in 2004 and public since 2014, specializes in cybersecurity with a focus on data privacy and security. The company is in the midst of transitioning its on-premises customers to cloud-based solutions, delivered through its software-as-a-service (SaaS) model. View Source4: Varonis reported a significant shift in its revenue composition, with SaaS revenues soaring to $34.0 million from just $2.1 million in Q1 2023. This growth underscores the successful adoption of the company's cloud transition strategy. Despite the impressive growth in SaaS, total term license subscription revenues saw a decline to $56.0 million from $80.9 million in the previous year, reflecting the ongoing shift in the company's sales model. View Source5: The company's annual recurring revenues (ARR) grew by 17% year-over-year, reaching $560.3 million, with SaaS ARR now constituting about 30% of the total ARR. This transition is pivotal as Varonis evolves its offerings to align with market demands for cloud-based security solutions. View Source6: Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management. View Source7: Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 3.49 percent of Varonis Systems Inc shares are owned by insiders, and 99.48 percent are held by financial institutions. Faitelson Yakov, the CEO, President, Chairman at Varonis Systems Inc (VRNS) has sold 47,457 shares of firm on May 10 ’24 at a price of $44.53 against the total amount of $2.11 million. In another inside trade, Faitelson Yakov, CEO, President, Chairman of Varonis Systems Inc (NASDAQ:VRNS) sold 284,211 shares of the firm on May 09 ’24 for a total worth of $12.86 million at a price of $45.23. An inside trade which took place on Feb 29 ’24, Director of Varonis Systems Inc Iohan Gili sold 19,500 shares of firm against total price of $0.99 million at the cost of $50.54 per share. View Source8: Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 3.49 percent of Varonis Systems Inc shares are owned by insiders, and 99.42 percent are held by financial institutions. Faitelson Yakov, the CEO, President, Chairman at Varonis Systems Inc (VRNS) has sold 47,457 shares of firm on May 10 ’24 at a price of $44.53 against the total amount of $2.11 million. In another inside trade, Faitelson Yakov, CEO, President, Chairman of Varonis Systems Inc (NASDAQ:VRNS) sold 284,211 shares of the firm on May 09 ’24 for a total worth of $12.86 million at a price of $45.23. An inside trade which took place on Feb 29 ’24, Director of Varonis Systems Inc Iohan Gili sold 19,500 shares of firm against total price of $0.99 million at the cost of $50.54 per share. View Source9: Varonis reported a significant shift in its revenue composition, with SaaS revenues soaring to $34.0 million from just $2.1 million in Q1 2023. This growth underscores the successful adoption of the company's cloud transition strategy. Despite the impressive growth in SaaS, total term license subscription revenues saw a decline to $56.0 million from $80.9 million in the previous year, reflecting the ongoing shift in the company's sales model. View Source10: The company's annual recurring revenues (ARR) grew by 17% year-over-year, reaching $560.3 million, with SaaS ARR now constituting about 30% of the total ARR. This transition is pivotal as Varonis evolves its offerings to align with market demands for cloud-based security solutions. View Source11: Despite the strong growth in SaaS and ARR, Varonis faced challenges as evidenced by the widening GAAP operating loss. The increase in operating expenses, particularly in research and development and sales and marketing, which totaled $140.3 million compared to $132.8 million in Q1 2023, reflects ongoing investments in product development and market expansion. View Source12: On May 6, 2024, Varonis Systems Inc (NASDAQ:VRNS) disclosed its financial results for the first quarter ended March 31, 2024, through its 8-K filing. The New York-based data security firm reported a total revenue of $114.0 million, slightly edging past the analyst estimates of $113.62 million. However, the company experienced a GAAP operating loss of $47.6 million, deepening from a loss of $43.1 million in the same quarter the previous year. View Source13: From a liquidity perspective, Varonis ended the quarter with $774.4 million in cash and cash equivalents, short-term deposits, and marketable securities. The company also reported a robust year-to-date cash from operations of $56.7 million, a significant increase from $36.8 million in the prior year, and similarly, free cash flow increased to $56.4 million from $35.7 million. View Source14: However, these investments are crucial for Varonis as it continues to innovate and expand its product offerings, such as the recently announced Varonis for Microsoft 365 Copilot, aimed at securing Microsoft's AI-powered productivity tools. These initiatives are vital for maintaining competitive advantage in the rapidly evolving cybersecurity landscape. View Source