earnings
confidence high
sentiment neutral
materiality 0.70
Varonis Q1 ARR grows 32% to $404.5M, revenue +29% to $96.3M; GAAP loss widens to $48.1M
VARONIS SYSTEMS INC
2022-Q1 EPS reported
-$0.45
revenue$96,261,000
- Annual recurring revenue $404.5M, up 32% YoY; subscription revenue $69.0M (+53%).
- Total revenue $96.3M (+29%); GAAP operating loss ($48.1M) vs ($34.1M) in Q1 2021.
- Non-GAAP operating loss ($7.9M) vs ($6.3M); Russia write-off created $3M ARR headwind.
- Full-year 2022 revenue and ARR guidance reaffirmed despite expected $4-5M Russia impact.
- Record quarterly operating cash flow achieved in Q1 2022.