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VRNSVaronis Systems, Inc.
$48.35$5.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
VRNS logo

Varonis Systems, Inc.

VRNS
NASDAQ · Infrastructure Software
$48.35
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$5.55B
P/E-42.8x
52W High$63.90
Volume1.1M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

SaaS Transition Accelerates Amid Persistent Losses

Varonis is executing a strategic pivot to SaaS, evidenced by revenue growth reaccelerating to 18.3% in 2026Q2 and deferred revenue more than doubling to $435.6M, signaling strong market traction. However, the transition has compressed gross margins to 75.3% an...

GrowthAccelerating
ProfitabilityWeak
ValuationExpensive
TechnicalsStrong
Explore valuation models
MARKET ACTION

VRNS price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-220% Peers

P/E is 220% below peer median

03

Market leadership

RS 90 · Leader

High momentum (Outperforming 90% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Oct 28

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
VRNS+50.91%
S&P 500 (^GSPC)+12.39%
1-Year Return
VRNS-17.07%
S&P 500 (^GSPC)+15.77%
3-Year Return
VRNS+59.36%
S&P 500 (^GSPC)+82.58%
5-Year Return
VRNS-29.65%
S&P 500 (^GSPC)+75.86%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-42.8x
Forward P/E
323.6x
EV/EBITDA
N/A
FCF YieldCash Flow
2.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-42.8x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
41.2x
45.7x
33rd· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$1.68-96.5%
Base (Fair)$36.77-22.7%
Bull$5.05-89.6%
$1.68 Bear$36.77 Base$5.05 Bull
Current Market Price: $48.35
Trades at a 31.5% premium to Base DCF ($36.77)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$624M+13.2% YoY
Net income
-$129M-35.0% YoY
Free cash flow
$135M+24.2% YoY
Operating margin
-23.5%-4.1 pts YoY
ROIC (TTM)-11%
Avg ROIC 5Y-
ROE (TTM)-24.5%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 28, 2026
$0.04+409.6%
vs $0.01
$180M+1.8%
vs $177M
Q2 2026
Apr 28, 2026
$0.06+220.0%
vs -$0.05
$173M+4.6%
vs $166M
Q1 2026
Feb 3, 2026
$0.08+166.7%
vs $0.03
$173M+2.9%
vs $168M
Q4 2025
Oct 28, 2025
$0.06+10.7%
vs $0.05
$162M-2.9%
vs $166M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·2d ago
Varonis Recognized as a Pace Setter in the Gartner® Emerging Market Quadrant for AI Application Security - Established Vendors

MIAMI, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), the data and AI security leader, today announced it has been recognized as a Pace Setter in the Gartner® Emerging Market Quadrant for AI Application Security - Established Vendors as of September 2026.

Defense World·5d ago
Engineers Gate Manager LP Buys New Position in Varonis Systems, Inc. $VRNS

Engineers Gate Manager LP purchased a new stake in Varonis Systems, Inc. (NASDAQ: VRNS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 34,342 shares of the technology company's stock, valued at approximately $1,441,000. Other hedge funds and other institutional investors have also

GlobeNewsWire·Sep 15, 2026
INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Varonis Systems Inc. to Contact Law Firm

NEW YORK, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Varonis Systems Inc. (NYSE: VRNS) shareholders should email [email protected] What is the Investigation About?

GlobeNewsWire·Sep 15, 2026
Varonis Launches Data Lifecycle Management to Cut Storage Costs in the Face of Unprecedented Data Growth

MIAMI, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (NASDAQ: VRNS), the data and AI security leader, today launches Varonis Data Lifecycle Management (DLM), a new capability that automatically finds and removes redundant, obsolete, and trivial (ROT) data across a company's data estate.

Filtered for Varonis Systems, Inc.More Headlines
04

Compare before deciding

Benchmark VRNS against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Varonis Systems, Inc. (VRNS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
VRNS logoVRNSVaronis Systems, Inc.Current
$48.35$5.55B-42.7913.17%-20.74%-24.53%—
CYBR logoCYBRCyberArk Software Ltd.
$408.85$20.64B-139.5436.01%-10.79%-6.11%—
SAIL logoSAILSailPoint, Inc.
$21.41$12.14B-41.1724.35%-16.92%-2.88%—
DDOG logoDDOGDatadog, Inc.
$251.49$89.52B838.3027.68%4.48%4.57%—
QLYS logoQLYSQualys, Inc.
$184.79$6.51B33.9710.13%29.34%37.17%—
TENB logoTENBTenable Holdings, Inc.
$36.23$4B-120.7711.04%0.65%2.41%—

Compare VRNS vs Peers

Varonis Systems, Inc. (VRNS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CYBR

Most directly comparable listed peer for VRNS.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare VRNS against a more recognizable public peer.

Peer Set

Compare Top 5

vs CYBR, SAIL, DDOG, QLYS

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

VRNS SEC Filings & Documents

Varonis Systems, Inc. (VRNS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 28, 2026·SEC

Material company update

Jun 2, 2026·SEC

Material company update

Apr 28, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 4, 2026·SEC

FY 2025

Feb 6, 2025·SEC

FY 2024

Feb 6, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 29, 2026·SEC

FY 2026

Apr 29, 2026·SEC

FY 2025

Oct 29, 2025·SEC

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VRNS Frequently Asked Questions

Varonis Systems, Inc. (VRNS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Varonis Systems, Inc.'s revenue?

Varonis Systems, Inc. (VRNS) reported $688.1M in revenue for fiscal year 2025. This represents a 1630% increase from $39.8M in 2011.

How fast is Varonis Systems, Inc. growing?

Varonis Systems, Inc. (VRNS) grew revenue by 13.2% over the past year. This is steady growth.

Is VRNS profitable?

Varonis Systems, Inc. (VRNS) reported a net loss of $141.4M for fiscal year 2025.

Dividend & Returns
What is VRNS's return on equity?

Varonis Systems, Inc. (VRNS) has a return on equity (ROE) of -24.5%. Negative ROE indicates the company is unprofitable.

What is Varonis Systems, Inc.'s free cash flow?

Varonis Systems, Inc. (VRNS) generated $121.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in VRNS back in 2011?

Total return calculator · dividends reinvested · 15+ years of data

See returns →