Varonis Q2 SaaS ARR ex-conversions up 25% YoY; raises FY SaaS ARR guidance to $769-775M

VARONIS SYSTEMS INC

Total revenues $180.0M vs $152.2M YoY; SaaS revenues $171.7M (up 62% YoY).
GAAP operating loss ($40.6M); Non-GAAP operating income $3.7M vs loss ($1.9M) YoY.
SaaS ARR excluding conversions grew 25% YoY; total SaaS ARR $726.0M (up 52% YoY).
Raised full-year SaaS ARR excluding conversions growth guidance to 21% at midpoint ($769-775M).
Newer products (Atlas, Interceptor, Database Activity Monitoring) gaining momentum.

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