Varonis Q1 revenue $114M (+6% YoY); SaaS ARR hits 30% of total ARR

VARONIS SYSTEMS INC

2024-Q1 EPS reported -$0.37 revenue$114,022,000

Total ARR grew 17% YoY; SaaS ARR now 30% of total ARR, up from ~2% in Q1 2023.
GAAP operating loss widened to $47.6M from $43.1M; non-GAAP op loss $10.6M vs $4.3M.
Year-to-date cash from operations $56.7M vs $36.8M; free cash flow $56.4M vs $35.7M.
SaaS revenue surged to $34.0M from $2.1M; term license subscription fell to $56.0M from $80.9M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VARONIS SYSTEMS INC reported first quarter ended March 31, 2024 results: revenue Total revenues were $114.0 million.

Period: first quarter ended March 31, 2024
Revenue: Total revenues were $114.0 million
Result: reported results

Exact text from the filing

Total revenues were $114.0 million, compared with $107.3 million in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001171843-24-002573

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