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Apr 28, 2026·SEC
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Feb 3, 2026·SEC
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Oct 28, 2025·SEC
Varonis Systems, Inc.(VRNS)Earnings, Financials & Key Ratios
VRNS•NASDAQ
$27.41
$3.22B mkt cap·Price updated May 6, 2026
AboutVaronis 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; strategic and product plans; and other intellectual property. The company 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, which offers a self-service Web portal that allows users to request access to data necessary for their business functions, and owners to grant access without IT intervention. In addition, the company provides Data Transport Engine, which provides 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 offers search functionality for enterprise data. Varonis Systems, Inc. sells products and services through a network of distributors and resellers. The company serves IT, security, and business personnel. Varonis Systems, Inc. was incorporated in 2004 and is headquartered in New York, New York.Show more
- Revenue$624M+13.2%
- EBITDA-$134M-40.3%
- Net Income-$129M-35.0%
- EPS (Diluted)-1.13-31.4%
- Gross Margin79.14%-4.6%
- EBITDA Margin-21.52%-23.9%
- Operating Margin-23.5%-21.2%
- Net Margin-20.74%-19.3%
- ROE-24.53%-21.1%
- ROIC-11.03%-9.8%
- Debt/Equity0.96-42.3%
- Interest Coverage-9.01-0.2%
VRNS Key Insights
Varonis Systems, Inc. (VRNS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓FCF machine: 21.6% free cash flow margin
- ✓Strong 5Y sales CAGR of 16.3%
✗Weaknesses
- ✗Weak momentum: RS Rating 19 (bottom 19%)
- ✗Shares diluted 15.7% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
VRNS Price & Volume
Varonis Systems, Inc. (VRNS) stock price & volume — 10-year historical chart
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VRNS Growth Metrics
Varonis Systems, Inc. (VRNS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years17.23%
5 Years16.33%
3 Years9.6%
TTM15.15%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-50.19%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-39.51%
Return on Capital
10 Years-20.45%
5 Years-14.64%
3 Years-14.18%
Last Year-14.04%
VRNS Recent Earnings
Varonis Systems, Inc. (VRNS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 28, 2026EPS
$0.06
Est $0.05
+220.0%
Revenue
$173M
Est $166M
+4.6%
Q1 2026
Feb 3, 2026EPS
$0.08
Est $0.03
+166.7%
Revenue
$173M
Est $168M
+2.9%
Q4 2025
Oct 28, 2025EPS
$0.06
Est $0.05
+10.7%
Revenue
$162M
Est $166M
-2.9%
Q3 2025
Jul 29, 2025EPS
$0.03
Est $0.01
+200.0%
Revenue
$152M
Est $164M
-7.0%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $0.06vs $0.05+220.0% | $173Mvs $166M+4.6% |
| Q1 2026 | Feb 3, 2026 | $0.08vs $0.03+166.7% | $173Mvs $168M+2.9% |
| Q4 2025 | Oct 28, 2025 | $0.06vs $0.05+10.7% | $162Mvs $166M-2.9% |
| Q3 2025 | Jul 29, 2025 | $0.03vs $0.01+200.0% | $152Mvs $164M-7.0% |
Based on last 12 quarters of dataView full earnings history →
VRNS Peer Comparison
Varonis Systems, Inc. (VRNS) competitors in Cybersecurity and identity management — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CYBR | 20.64B | 408.85 | -139.54 | 36.01% | -10.79% | -6.11% | 1.26% | 0.51 |
 SAIL | 6.82B | 12.15 | -6.14 | 23.16% | -29.2% | -8.01% | ||
 DDOG | 47.43B | 145.73 | 485.77 | 27.68% | 3.14% | 2.89% | 2.11% | 0.41 |
 QLYS | 3.29B | 92.14 | 16.94 | 10.13% | 29.41% | 37.15% | 9.26% | 0.17 |
 TENB | 2.41B | 21.02 | -70.07 | 11.04% | -1.15% | -3.71% | 10.58% | 1.43 |
 RDWR | 1.19B | 27.48 | 61.07 | 9.81% | 6.71% | 5.31% | 3.5% | 0.04 |
 PANW | 129.34B | 183.98 | 114.99 | 14.87% | 12.96% | 13.65% | 2.68% | 0.04 |
 CRWD | 120.74B | 476.53 | -733.12 | 21.71% | -3.81% | -4.63% | 1.09% | 0.18 |
Compare VRNS vs Peers
Varonis Systems, Inc. (VRNS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VRNS Income Statement
Varonis Systems, Inc. (VRNS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 217.36M | 270.29M | 254.19M | 292.69M | 390.13M | 473.63M | 499.16M | 550.95M | 623.53M | 660.24M |
| Revenue Growth % | 32.17% | 24.35% | -5.96% | 15.15% | 33.29% | 21.4% | 5.39% | 10.38% | 13.17% | 15.15% |
| Cost of Goods Sold | 20.87M | 27.68M | 35.14M | 44.26M | 59.4M | 69.84M | 71.75M | 93.85M | 130.09M | 144.53M |
| COGS % of Revenue | 9.6% | 10.24% | 13.83% | 15.12% | 15.23% | 14.74% | 14.37% | 17.03% | 20.86% | - |
| Gross Profit | 196.49M▲ 0% | 242.6M▲ 23.5% | 219.05M▼ 9.7% | 248.43M▲ 13.4% | 330.74M▲ 33.1% | 403.8M▲ 22.1% | 427.41M▲ 5.8% | 457.1M▲ 6.9% | 493.44M▲ 8.0% | 515.71M▲ 0% |
| Gross Margin % | 90.4% | 89.76% | 86.17% | 84.88% | 84.77% | 85.26% | 85.63% | 82.97% | 79.14% | 78.11% |
| Gross Profit Growth % | 32.22% | 23.47% | -9.71% | 13.41% | 33.13% | 22.09% | 5.85% | 6.95% | 7.95% | - |
| Operating Expenses | 208.09M | 271.74M | 295.03M | 326.84M | 438.33M | 521.21M | 558.89M | 563.91M | 638.07M | 660.17M |
| OpEx % of Revenue | 95.74% | 100.54% | 116.07% | 111.67% | 112.35% | 110.04% | 111.97% | 102.35% | 102.33% | - |
| Selling, General & Admin | 160.73M | 201.77M | 214.27M | 227.48M | 300.45M | 343.33M | 375.05M | 367.15M | 400.26M | 406.81M |
| SG&A % of Revenue | 73.94% | 74.65% | 84.29% | 77.72% | 77.01% | 72.49% | 75.14% | 66.64% | 64.19% | - |
| Research & Development | 47.37M | 69.97M | 80.76M | 99.36M | 137.88M | 177.88M | 183.84M | 196.76M | 237.81M | 253.37M |
| R&D % of Revenue | 21.79% | 25.89% | 31.77% | 33.95% | 35.34% | 37.56% | 36.83% | 35.71% | 38.14% | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -13.42M▲ 0% | -29.14M▼ 117.1% | -75.99M▼ 160.8% | -78.42M▼ 3.2% | -107.59M▼ 37.2% | -117.41M▼ 9.1% | -131.48M▼ 12.0% | -106.81M▲ 18.8% | -146.51M▼ 37.2% | -144.46M▲ 0% |
| Operating Margin % | -6.17% | -10.78% | -29.89% | -26.79% | -27.58% | -24.79% | -26.34% | -19.39% | -23.5% | -21.88% |
| Operating Income Growth % | 14.5% | -117.12% | -160.81% | -3.2% | -37.21% | -9.12% | -11.98% | 18.76% | -37.17% | - |
| EBITDA | -10.09M | -24.98M | -60.64M | -59.51M | -88.47M | -95.93M | -119.78M | -95.68M | -134.21M | -134.57M |
| EBITDA Margin % | -4.64% | -9.24% | -23.86% | -20.33% | -22.68% | -20.25% | -24% | -17.37% | -21.52% | -20.38% |
| EBITDA Growth % | 25.33% | -147.54% | -142.78% | 1.87% | -48.67% | -8.43% | -24.86% | 20.11% | -40.26% | -28.72% |
| D&A (Non-Cash Add-back) | 3.33M | 4.16M | 15.34M | 18.9M | 19.12M | 21.48M | 11.7M | 11.13M | 12.31M | 9.89M |
| EBIT | -10.87M | -27.97M | -76.17M | -80.61M | -99.27M | -103.52M | -82.25M | -74.7M | -116.32M | -84.5M |
| Net Interest Income | 562K | 1.55M | 1.83M | -4.61M | -11.4M | 3.12M | 29.9M | 34.74M | 37.04M | 18.24M |
| Interest Income | 747K | 1.74M | 2.03M | 674K | 164K | 10.41M | 34.56M | 43.05M | 49.95M | 18.24M |
| Interest Expense | 185K | 195K | 205K | 5.29M | 11.57M | 7.29M | 4.66M | 8.3M | 12.9M | 0 |
| Other Income/Expense | 2.36M | 970K | -389K | -7.48M | -3.24M | 6.59M | 44.56M | 23.8M | 30.19M | 19.92M |
| Pretax Income | -11.23M▲ 0% | -28.16M▼ 150.7% | -76.38M▼ 171.2% | -85.9M▼ 12.5% | -110.84M▼ 29.0% | -110.81M▲ 0.0% | -86.92M▲ 21.6% | -83.01M▲ 4.5% | -116.32M▼ 40.1% | -124.54M▲ 0% |
| Pretax Margin % | -5.17% | -10.42% | -30.05% | -29.35% | -28.41% | -23.4% | -17.41% | -15.07% | -18.66% | -18.86% |
| Income Tax | 2.79M | 413K | 2.39M | 8.11M | 6.02M | 13.7M | 14M | 12.76M | 13M | 12.22M |
| Effective Tax Rate % | -24.81% | -1.47% | -3.13% | -9.44% | -5.43% | -12.37% | -16.1% | -15.37% | -11.18% | -9.81% |
| Net Income | -13.84M▲ 0% | -28.58M▼ 106.4% | -78.76M▼ 175.6% | -94.01M▼ 19.4% | -116.86M▼ 24.3% | -124.52M▼ 6.6% | -100.92M▲ 19.0% | -95.77M▲ 5.1% | -129.32M▼ 35.0% | -136.76M▲ 0% |
| Net Margin % | -6.37% | -10.57% | -30.99% | -32.12% | -29.95% | -26.29% | -20.22% | -17.38% | -20.74% | -20.71% |
| Net Income Growth % | 21.83% | -106.43% | -175.61% | -19.36% | -24.31% | -6.55% | 18.95% | 5.1% | -35.04% | -50.19% |
| Net Income (Continuing) | -13.84M | -28.58M | -78.76M | -94.01M | -116.86M | -124.52M | -100.92M | -95.77M | -129.32M | -136.76M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.17▲ 0% | -0.33▼ 94.1% | -0.87▼ 163.6% | -1.00▼ 14.9% | -1.11▼ 11.0% | -1.14▼ 2.7% | -0.92▲ 19.3% | -0.86▲ 6.5% | -1.13▼ 31.4% | -1.18▲ 0% |
| EPS Growth % | 22.73% | -94.12% | -163.64% | -14.94% | -11% | -2.7% | 19.3% | 6.52% | -31.4% | -39.51% |
| EPS (Basic) | -0.17 | -0.33 | -0.87 | -1.00 | -1.11 | -1.14 | -0.92 | -0.86 | -1.13 | - |
| Diluted Shares Outstanding | 82.4M | 87.06M | 90.77M | 94.34M | 105.31M | 109.28M | 109.14M | 111.66M | 129.17M | 115.79M |
| Basic Shares Outstanding | 82.4M | 87.06M | 90.77M | 94.34M | 105.31M | 109.28M | 109.14M | 111.66M | 129.17M | 115.79M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
VRNS Balance Sheet
Varonis Systems, Inc. (VRNS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 219.12M | 251.03M | 204.83M | 405.7M | 941.28M | 886.27M | 745.46M | 843.94M | 1.3B | 1.08B |
| Cash & Short-Term Investments | 136.56M | 158.91M | 120.46M | 298.26M | 807.61M | 732.49M | 533.72M | 568.42M | 920.97M | 785.91M |
| Cash Only | 56.69M | 48.71M | 68.93M | 234.09M | 805.76M | 367.8M | 230.74M | 185.59M | 202.48M | 179.34M |
| Short-Term Investments | 79.87M | 110.21M | 51.53M | 64.17M | 1.85M | 364.69M | 302.98M | 382.83M | 718.48M | 606.57M |
| Accounts Receivable | 76.14M | 85.1M | 76.41M | 95.81M | 120.51M | 143.16M | 184.52M | 236.62M | 242.82M | 156.62M |
| Days Sales Outstanding | 127.85 | 114.92 | 109.72 | 119.49 | 112.75 | 110.32 | 134.93 | 156.76 | 142.14 | 95.61 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 381K | 166K | 317K | 3.69M | 6.41M | 406K | 4.44M | 10.37M | 0 | 138.51M |
| Total Non-Current Assets | 26.35M | 33.94M | 113.48M | 149.78M | 167.26M | 157.46M | 358.45M | 820.33M | 493.06M | 553.54M |
| Property, Plant & Equipment | 11.9M | 17.32M | 91.39M | 85.09M | 102.05M | 95.81M | 85.8M | 76.39M | 93.71M | 96.57M |
| Fixed Asset Turnover | 18.27x | 15.60x | 2.78x | 3.44x | 3.82x | 4.94x | 5.82x | 7.21x | 6.65x | 7.36x |
| Goodwill | 0 | 0 | 0 | 23.14M | 23.14M | 23.14M | 23.14M | 23.14M | 135.28M | 216.8M |
| Intangible Assets | 0 | 0 | 0 | 5.85M | 4.31M | 2.79M | 1.26M | 0 | 16.69M | 56.6M |
| Long-Term Investments | 547K | 0 | 0 | 0 | 0 | 0 | 211.06M | 661.98M | 187.2M | 1.08B |
| Other Non-Current Assets | 13.91M | 16.62M | 22.09M | 35.71M | 37.77M | 35.73M | 37.18M | 58.83M | 60.18M | 231.79M |
| Total Assets | 245.47M▲ 0% | 284.98M▲ 16.1% | 318.31M▲ 11.7% | 555.48M▲ 74.5% | 1.11B▲ 99.6% | 1.04B▼ 5.8% | 1.1B▲ 5.8% | 1.66B▲ 50.8% | 1.79B▲ 7.7% | 1.63B▲ 0% |
| Asset Turnover | 0.89x | 0.95x | 0.80x | 0.53x | 0.35x | 0.45x | 0.45x | 0.33x | 0.35x | 0.39x |
| Asset Growth % | 35% | 16.09% | 11.7% | 74.51% | 99.56% | -5.85% | 5.77% | 50.76% | 7.65% | 68.27% |
| Total Current Liabilities | 116.98M | 146.34M | 159.58M | 182.64M | 211.77M | 228.74M | 306.78M | 709.88M | 658.96M | 638.61M |
| Accounts Payable | 635K | 2.62M | 997K | 850K | 5.32M | 2.96M | 672K | 4.31M | 5.74M | 10.76M |
| Days Payables Outstanding | 11.1 | 34.54 | 10.35 | 7.01 | 32.72 | 15.48 | 3.42 | 16.77 | 16.09 | 18.23 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 250.53M | 0 | 0 |
| Deferred Revenue (Current) | 73.89M | 87.73M | 95.97M | 98.59M | 104.22M | 110.55M | 181.05M | 290.11M | 0 | 1.5B |
| Other Current Liabilities | 24.7M | 35.88M | 39.13M | 50.6M | 29.75M | 42.19M | 40.48M | 62.81M | 427.81M | 211.47M |
| Current Ratio | 1.87x | 1.72x | 1.28x | 2.22x | 4.44x | 3.87x | 2.43x | 1.19x | 1.97x | 1.97x |
| Quick Ratio | 1.87x | 1.72x | 1.28x | 2.22x | 4.44x | 3.87x | 2.43x | 1.19x | 1.97x | 1.97x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | 77.38 |
| Total Non-Current Liabilities | 14.41M | 13.27M | 65.2M | 278.77M | 300.17M | 312.86M | 307.48M | 498.73M | 534M | 542.45M |
| Long-Term Debt | 0 | 0 | 0 | 218.46M | 225.33M | 248.96M | 250.48M | 450.24M | 512.01M | 452.77M |
| Capital Lease Obligations | 0 | 0 | 57.04M | 54.54M | 68.69M | 57.63M | 51.31M | 42.79M | 59.75M | 217.97M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 7.81M | 6.78M | 2.7M | 3M | 3.58M | 4.77M | 4.81M | 3.49M | -52.16M | -24.43M |
| Total Liabilities | 131M | 159.61M | 224.78M | 461.41M | 511.94M | 541.61M | 614.26M | 1.21B | 1.19B | 1.18B |
| Total Debt | 0 | 0 | 57.04M | 273M | 302.82M | 316.46M | 311.84M | 754.41M | 571.76M | 511.2M |
| Net Debt | -56.69M | -48.71M | -11.89M | 38.91M | -502.94M | -51.34M | 81.1M | 568.82M | 369.27M | 331.86M |
| Debt / Equity | - | - | 0.61x | 2.90x | 0.51x | 0.63x | 0.64x | 1.66x | 0.96x | 0.96x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | -3.80x |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - | -2.47x |
| Interest Coverage | -58.77x | -143.44x | -371.57x | -15.25x | -8.58x | -14.19x | -17.64x | -9.00x | -9.01x | - |
| Total Equity | 114.48M▲ 0% | 125.37M▲ 9.5% | 93.53M▼ 25.4% | 94.07M▲ 0.6% | 596.59M▲ 534.2% | 502.13M▼ 15.8% | 489.65M▼ 2.5% | 455.66M▼ 6.9% | 598.66M▲ 31.4% | 453.51M▲ 0% |
| Equity Growth % | 38.36% | 9.51% | -25.4% | 0.58% | 534.19% | -15.83% | -2.48% | -6.94% | 31.38% | 70.3% |
| Book Value per Share | 1.39 | 1.44 | 1.03 | 1.00 | 5.67 | 4.59 | 4.49 | 4.08 | 4.63 | 3.92 |
| Total Shareholders' Equity | 101.58M | 125.37M | 93.53M | 94.07M | 596.59M | 502.13M | 489.65M | 455.66M | 598.66M | 453.51M |
| Common Stock | 28K | 30K | 31K | 32K | 108K | 108K | 109K | 113K | 118K | 115K |
| Retained Earnings | -122.45M | -137.97M | -216.73M | -310.74M | -427.6M | -543.47M | -644.39M | -740.15M | -869.48M | -906.33M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 136K | -3.63M | -449K | 9.37M | 6.08M | -9.56M | -8.65M | 2.68M | 23.13M | 20.53M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
VRNS Cash Flow Statement
Varonis Systems, Inc. (VRNS) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 16.35M | 23.55M | -10.68M | -5.84M | 7.18M | 11.87M | 59.42M | 115.2M | 147.43M | 147.43M |
| Operating CF Margin % | 7.52% | 8.71% | -4.2% | -2% | 1.84% | 2.51% | 11.9% | 20.91% | 23.64% | - |
| Operating CF Growth % | 122.55% | 44% | -145.37% | 45.31% | 222.87% | 65.38% | 400.51% | 93.89% | 27.98% | 113.3% |
| Net Income | -13.69M | -28.58M | -78.76M | -94.01M | -116.86M | -124.52M | -100.92M | -95.77M | 30.19M | -136.76M |
| Depreciation & Amortization | 3.33M | 4.16M | 15.34M | 18.9M | 19.12M | 21.48M | 11.7M | 11.13M | 14.58M | 28.59M |
| Stock-Based Compensation | 19.84M | 34.96M | 0 | 0 | 0 | 0 | 0 | 126.68M | 130.24M | 99.15M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 12.57M | 13.16M | 59.81M | 85.52M | 130.8M | 166.25M | 162.98M | 60.02M | -94.82M | 124.19M |
| Working Capital Changes | -5.54M | -152K | -7.08M | -16.26M | -25.88M | -51.34M | -14.35M | 13.13M | 67.23M | 12.94M |
| Change in Receivables | -21.73M | -7.63M | 8.17M | -19.07M | -22.95M | -18.8M | -33.14M | -23.72M | -52.55M | -31.48M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -653K | 1.99M | -1.62M | -328K | 4.47M | -2.36M | -2.29M | 3.64M | 1.23M | -732K |
| Cash from Investing | -20M | -40.19M | 33.3M | -54.75M | 54.38M | -374.25M | -143.08M | -532.25M | -837K | 87.51M |
| Capital Expenditures | -5.31M | -9.58M | -25.39M | -10.12M | -10.49M | -11.4M | -5.1M | -6.69M | -12.63M | -17.83M |
| CapEx % of Revenue | 2.44% | 3.55% | 9.99% | 3.46% | 2.69% | 2.41% | 1.02% | 1.21% | 2.03% | - |
| Acquisitions | 20K | 27K | 11K | -29.37M | 0 | 21K | 0 | 0 | -123.51M | -218.55M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.65M | 250.38M | -2.17M |
| Cash from Financing | 12.08M | 8.11M | -2.4M | 225.75M | 510.11M | -75.58M | -53.4M | 371.9M | -129.7M | -195.75M |
| Debt Issued (Net) | 0 | 0 | 0 | 245.31M | 0 | 0 | 0 | 394.11M | -137K | -137K |
| Equity Issued (Net) | 12.08M | 8.11M | -2.4M | 9.79M | 510.11M | -44.5M | -31.98M | 16.08M | -100.65M | -46.55M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -56.44M | -43.52M | 0 | -115M | -51.65M |
| Other Financing | 0 | 0 | 0 | -29.35M | 0 | -31.08M | -21.41M | -38.3M | -28.91M | -149.06M |
| Net Change in Cash | 8.43M▲ 0% | -8.53M▼ 201.1% | 20.22M▲ 337.1% | 165.16M▲ 716.7% | 571.67M▲ 246.1% | -437.96M▼ 176.6% | -137.06M▲ 68.7% | -45.16M▲ 67.1% | 16.9M▲ 137.4% | 26.23M▲ 0% |
| Free Cash Flow | 11.04M▲ 0% | 13.96M▲ 26.5% | -36.08M▼ 358.4% | -15.96M▲ 55.8% | -3.31M▲ 79.2% | 475K▲ 114.3% | 54.32M▲ 11335.2% | 108.51M▲ 99.8% | 134.8M▲ 24.2% | 119.54M▲ 0% |
| FCF Margin % | 5.08% | 5.17% | -14.19% | -5.45% | -0.85% | 0.1% | 10.88% | 19.69% | 21.62% | 18.11% |
| FCF Growth % | 213.37% | 26.5% | -358.38% | 55.76% | 79.25% | 114.34% | 11335.16% | 99.76% | 24.24% | 1.81% |
| FCF per Share | 0.13 | 0.16 | -0.40 | -0.17 | -0.03 | 0.00 | 0.50 | 0.97 | 1.04 | 1.04 |
| FCF Conversion (FCF/Net Income) | -1.18x | -0.82x | 0.14x | 0.06x | -0.06x | -0.10x | -0.59x | -1.20x | -1.14x | -0.87x |
| Interest Paid | 0 | 0 | 0 | 0 | 3.2M | 3.17M | 3.2M | 3.19M | 0 | 3.78M |
| Taxes Paid | 469K | 710K | 0 | 1.34M | 8.51M | 7.35M | 16.09M | 24.25M | 0 | 5.93M |
VRNS Key Ratios
Varonis Systems, Inc. (VRNS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -14.04% | -23.83% | -71.96% | -100.22% | -33.84% | -22.67% | -20.35% | -20.26% | -24.53% | -27.37% |
| Return on Invested Capital (ROIC) | -21.83% | -32.5% | -72% | -54.8% | -71.21% | -32.35% | -19.31% | -10.04% | -11.03% | -11.03% |
| Gross Margin | 90.4% | 89.76% | 86.17% | 84.88% | 84.77% | 85.26% | 85.63% | 82.97% | 79.14% | 78.11% |
| Net Margin | -6.37% | -10.57% | -30.99% | -32.12% | -29.95% | -26.29% | -20.22% | -17.38% | -20.74% | -20.71% |
| Debt / Equity | - | - | 0.61x | 2.90x | 0.51x | 0.63x | 0.64x | 1.66x | 0.96x | 0.96x |
| Interest Coverage | -58.77x | -143.44x | -371.57x | -15.25x | -8.58x | -14.19x | -17.64x | -9.00x | -9.01x | - |
| FCF Conversion | -1.18x | -0.82x | 0.14x | 0.06x | -0.06x | -0.10x | -0.59x | -1.20x | -1.14x | -0.87x |
| Revenue Growth | 32.17% | 24.35% | -5.96% | 15.15% | 33.29% | 21.4% | 5.39% | 10.38% | 13.17% | 15.15% |
VRNS SEC Filings & Documents
Varonis Systems, Inc. (VRNS) SEC filings — annual & quarterly reports (10-K, 10-Q)
VRNS Frequently Asked Questions
Varonis Systems, Inc. (VRNS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Varonis Systems, Inc. (VRNS) reported $660.2M in revenue for fiscal year 2025. This represents a 1560% increase from $39.8M in 2011.
Varonis Systems, Inc. (VRNS) grew revenue by 13.2% over the past year. This is steady growth.
Varonis Systems, Inc. (VRNS) reported a net loss of $136.8M for fiscal year 2025.
Dividend & Returns
Varonis Systems, Inc. (VRNS) has a return on equity (ROE) of -24.5%. Negative ROE indicates the company is unprofitable.
Varonis Systems, Inc. (VRNS) generated $119.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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