secwatch.observer — SEC 8-K summary
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Issuer:     VARONIS SYSTEMS INC (VRNS)
CIK:        0001361113
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001171843-24-002573
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361113/000117184324002573/0001171843-24-002573-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361113/000117184324002573/f8k_050624.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002573

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