---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-23-002727"
form_type: "8-K"
ticker: "VRNS"
cik: "0001361113"
company_name: "VARONIS SYSTEMS INC"
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:45:34.859698+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Varonis Q1 revenue up 12% to $107.3M; SaaS mix beats guidance, raises FY outlook

## Summary
- Total revenue $107.3M (+12% YoY); subscription revenue $83.0M vs $69.0M in Q1 2022.
- GAAP operating loss narrowed to ($43.1M) from ($48.1M); non-GAAP operating loss ($4.3M) vs ($7.9M).
- SaaS mix of new ARR hit 37%, well above 15% guidance; full-year SaaS mix and ARR guidance raised.
- ARR grew 18% YoY; YTD cash from operations $36.8M ($24.5M last year), free cash flow $35.7M ($21.0M).
- CEO cites customer and sales force adoption of SaaS despite economic slowdown.

## SEC filing metadata
- accession: 0001171843-23-002727
- form_type: 8-K
- ticker: VRNS
- cik: 0001361113
- company_name: VARONIS SYSTEMS INC
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1361113/000117184323002727/0001171843-23-002727-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1361113/000117184323002727/f8k_050123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-23-002727
- JSON: https://secwatch.observer/filing/0001171843-23-002727.json
- Plain text: https://secwatch.observer/filing/0001171843-23-002727.txt

## Key facts
- Earnings Releases
  VARONIS SYSTEMS INC reported first quarter ended March 31, 2023 results: revenue $107.3 million. Guidance raised.
  - Period: first quarter ended March 31, 2023
  - Revenue: $107.3 million
  - Guidance: raised
  - Result: reported results
  source text: Total revenues increased 12% to $107.3 million, compared with $96.3 million in the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1361113/000117184323002727/0001171843-23-002727-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.