Varonis Q1 revenues $136.4M (+20% YoY); SaaS ARR 61% of total; FY ARR guidance raised

VARONIS SYSTEMS INC

2025-Q1 EPS reported -$0.32 revenue$136,423,000

Total revenues $136.4M vs $114.0M YoY; SaaS rev $88.6M up from $34.0M.
GAAP operating loss narrowed to ($43.8M) from ($47.6M); non-GAAP op loss ($6.5M) vs ($10.6M).
YTD cash from ops $68.0M vs $56.7M; free cash flow $65.3M vs $56.4M.
SaaS ARR reached 61% of total ARR; full-year ARR guidance raised (specifics not disclosed).
CEO cites MDDR and Generative AI tailwinds; SaaS transition expected to complete in 2025.

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