Varonis reports Q1 EPS 6c, consensus (5c)

Reports Q1 revenue $173.13M, consensus $165.5M. Yaki Faitelson, Varonis (VRNS) CEO, said, “Our Q1 results reflect strong execution across our business, and SaaS ARR, excluding conversions increased 29%. AI is forcing companies to prioritize data and AI security, and Varonis is uniquely positioned to help customers put the right guardrails in place so they can achieve automated outcomes and safely deploy AI with minimal effort. We believe we are well-positioned to capitalize on the favorable tailwinds in our business and this significant AI market opportunity.”