secwatch.observer — SEC 8-K summary
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Issuer:     VARONIS SYSTEMS INC (VRNS)
CIK:        0001361113
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001171843-24-000594
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361113/000117184324000594/0001171843-24-000594-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361113/000117184324000594/f8k_020524.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-000594

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