Varonis Systems Inc
F:VS2
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Varonis Systems Inc
Varonis Systems makes cybersecurity software that helps companies find, protect, and monitor their most sensitive data. Its tools map where data lives, who can access it, and how it is being used, then flag risky behavior such as unusual file access, data leaks, or stolen credentials. The company sells mainly to large organizations that need to protect customer records, employee files, financial data, and other important information across cloud and on-premises systems. Varonis earns money mostly through software subscriptions, with customers paying for ongoing access to its security platform and related support. It also provides professional services to help buyers deploy the software and tune it to their environment. The business is different from many security vendors because it starts with the data itself, not just the network or the device, so it is aimed at the problem of knowing where sensitive information is and who can reach it. This makes Varonis a specialist in data security and insider-risk detection. Its software is used by IT, security, and compliance teams that need to keep control over sensitive files while meeting internal policies and regulatory requirements. In simple terms, Varonis sells a system that helps enterprises watch over their data, reduce exposure, and respond faster when something looks wrong.
Varonis Systems makes cybersecurity software that helps companies find, protect, and monitor their most sensitive data. Its tools map where data lives, who can access it, and how it is being used, then flag risky behavior such as unusual file access, data leaks, or stolen credentials. The company sells mainly to large organizations that need to protect customer records, employee files, financial data, and other important information across cloud and on-premises systems.
Varonis earns money mostly through software subscriptions, with customers paying for ongoing access to its security platform and related support. It also provides professional services to help buyers deploy the software and tune it to their environment. The business is different from many security vendors because it starts with the data itself, not just the network or the device, so it is aimed at the problem of knowing where sensitive information is and who can reach it.
This makes Varonis a specialist in data security and insider-risk detection. Its software is used by IT, security, and compliance teams that need to keep control over sensitive files while meeting internal policies and regulatory requirements. In simple terms, Varonis sells a system that helps enterprises watch over their data, reduce exposure, and respond faster when something looks wrong.
Strong start: Varonis said Q1 was a strong start to 2026, with SaaS ARR excluding conversions up 29% year over year to $522.6 million and total revenue up 27% to $173.1 million.
Guidance raised: Management raised full-year guidance, citing healthy demand from new logos and existing customers, plus momentum from newer products and AI-related use cases.
AI tailwind: The company framed AI security as a major growth driver, saying customers need automated controls for data, AI systems, and AI-powered attacks.
New business strength: Management said sales teams are spending more time on new customer acquisition and upsell now that the conversion burden is easing, and that Q1 new-customer contribution accelerated significantly.
Cash flow noted: Free cash flow was $49 million, down from $65.3 million a year ago, mainly due to the on-prem end-of-life headwind and about $12.6 million of acquisition-related costs.
Q2 outlook: For Q2, Varonis guided to SaaS ARR growth of 24% to 25% excluding conversions and revenue of $175 million to $178 million.
Competitive wins: Management highlighted wins against point tools and said Atlas, Interceptor, and database activity monitoring are gaining traction as part of a broader platform sell.
