Varonis Q2 revenue $130.3M (+13% YoY); SaaS ARR 36% of total; raises FY guidance

VARONIS SYSTEMS INC

2024-Q2 EPS reported -$0.58 revenue$244,368,000

Total revenues $130.3M vs $115.4M YoY; SaaS revenues $44.8M vs $5.7M YoY.
Non-GAAP operating income $2.1M vs $0.9M YoY; GAAP operating loss narrowed to $28.8M from $39.7M.
SaaS ARR 36% of total ARR; management raised full-year ARR and FCF guidance, now expects SaaS ARR to reach 48%.
Year-to-date cash from operations $68.4M vs $42.6M; free cash flow $67.3M vs $40.0M.

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