secwatch.observer — SEC 8-K summary
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Issuer:     VARONIS SYSTEMS INC (VRNS)
CIK:        0001361113
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0001171843-23-004808
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361113/000117184323004808/0001171843-23-004808-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361113/000117184323004808/f8k_073123.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-004808

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer