Varonis Q4 revenue up 8% YoY to $154.1M; SaaS ARR hits ~23% of total ARR

VARONIS SYSTEMS INC

2023-FY EPS reported -$0.92 revenue$499,160,000

Q4 total revenue $154.1M (+8% YoY); subscription revenue $129.2M (+11% YoY).
GAAP operating loss improved to ($5.2M) from ($10.0M) in Q4'22; non-GAAP op income $27.2M.
FY 2023 cash from operations $59.4M vs $11.9M; free cash flow $54.3M vs $0.5M.
SaaS ARR now ~23% of total ARR; management targets full SaaS transition by end of 2026, a year earlier.
Q4 SaaS mix 66% vs guidance of 60%, driven by strong demand and customer conversions.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VARONIS SYSTEMS INC reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 5, 2024, Varonis Systems, Inc. issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001171843-24-000594

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