---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-23-004808"
form_type: "8-K"
ticker: "VRNS"
cik: "0001361113"
company_name: "VARONIS SYSTEMS INC"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T21:52:02.966455+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001171843-23-004808
- form_type: 8-K
- ticker: VRNS
- cik: 0001361113
- company_name: VARONIS SYSTEMS INC
- filed_at: 2023-07-31T23:59:59+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/1361113/000117184323004808/0001171843-23-004808-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1361113/000117184323004808/f8k_073123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-23-004808
- JSON: https://secwatch.observer/filing/0001171843-23-004808.json
- Plain text: https://secwatch.observer/filing/0001171843-23-004808.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1361113/000117184323004808/0001171843-23-004808-index.htm

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