Varonis Q2 revenue $115.4M (+3.6% YoY); SaaS mix hits 58%, guides up full-year ARR/FCF

VARONIS SYSTEMS INC

2023-Q2 EPS reported -$0.71 revenue$222,753,000

Total revenue $115.4M vs $111.4M YoY; subscription revenue $91.1M (+8% YoY).
ARR grew 17% YoY; SaaS 58% of new/upsell ARR vs 35% guided; ~10% of total ARR now SaaS.
GAAP operating loss ($39.7M); non-GAAP operating income $0.9M (vs $1.7M YoY).
YTD cash from ops $42.6M (vs $10.1M YoY); YTD FCF $40.0M (vs $3.9M YoY).
Raised FY2023 guidance for ARR, SaaS mix, and free cash flow.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

VARONIS SYSTEMS INC reported the second quarter ended June 30, 2023 results: revenue $115.4 million. Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $115.4 million
Guidance: raised
Result: reported results

Exact text from the filing

gives us the confidence to raise our guidance for full-year ARR, SaaS mix, and free cash flow." Financial Summary for the Second Quarter Ended June 30, 2023 Total revenues were $115.4 million, compared with $111.4 million in the second quarter of 2022. Subscription revenues were $91.1 million, compared with $84.4 million in the second quarter of 2022. Maintenance and

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Source: SEC EDGAR

accession 0001171843-23-004808

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