Varonis reports Q2 non-GAAP EPS 3c, consensus 1c

Reports Q2 revenue $152.2M, consensus $147.83M. Yaki Faitelson, Varonis (VRNS) CEO, said, “We are excited by the many tailwinds we are seeing in our business. The simplicity and automated outcomes of our SaaS platform and MDDR, the adoption of AI and the growing awareness for data-centric cloud and SaaS security are continuing to drive momentum in our business, and we look forward to executing on this massive and growing market opportunity.” Guy Melamed, Varonis CFO & COO, added, “Our second quarter performance reflects the growing demand for Varonis SaaS with 69% of our ARR now coming from SaaS as we accelerate towards the completion of our SaaS transition this year. This demand is benefiting our ARR growth and cash flow generation, and these results coupled with the many underlying drivers of our business give us confidence to again raise our full-year ARR guidance and increase our SaaS mix expectation to 82% from 80%.”