Varonis reports Q3 2024: ARR up 18% YoY; SaaS now 43% of total ARR; operating income improves

VARONIS SYSTEMS INC

2024-Q3 EPS reported -$0.74 revenue$392,436,000

ARR grew 18% YoY; SaaS ARR reached ~43% of total ARR, reflecting continued platform adoption.
Total revenues $148.1M (+21% YoY vs $122.3M); SaaS revenues $57.8M vs $13.7M a year ago.
GAAP operating loss narrowed to $23.6M from $29.1M; Non-GAAP operating income was $9.1M ($4.9M).
YTD cash from operations nearly doubled to $90.9M (prior $49.0M); YTD FCF $88.6M vs $46.0M.
Term license subscription revenues declined to $68.8M from $84.0M; maintenance & services $21.5M.

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