VRNS Varonis (VRNS) Q2 FY26 earnings call
Varonis delivered strong Q2 results, driven by robust SaaS ARR growth and significant new logo activity, despite some large deals slipping due to market rumors. The company is capitalizing on the secular tailwind from AI and data security, with new products gaining traction and a healthy pipeline. Management remains confident in its platform's durability and market opportunity, raising full-year guidance for both SaaS ARR and free cash flow.
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VRNS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Annual recurring revenue (ARR) SaaS excluding conversions | $522.6MIn Q1, SaaS ARR, excluding conversions, increased 29% year-over-year to $522.6 million and total SaaS ARR, including conversions was $683.2 million.Source: earnings call transcript | $598.1MIn Q2, SaaS ARR, excluding conversions, increased 25% year-over-year to $598.1 million and total SaaS ARR, including conversion was $726 million.Source: earnings call transcript | +14.4% |
| Annual recurring revenue (ARR) SaaS | $683.2MIn Q1, SaaS ARR, excluding conversions, increased 29% year-over-year to $522.6 million and total SaaS ARR, including conversions was $683.2 million.Source: earnings call transcript | $726MIn Q2, SaaS ARR, excluding conversions, increased 25% year-over-year to $598.1 million and total SaaS ARR, including conversion was $726 million.Source: earnings call transcript | +6.3% |
| Annual recurring revenue (ARR) Non-SaaS | ~$83.7MIn Q1, we had $11.3 million of conversion ARR, and we finished the quarter with approximately $83.7 million of non-SaaS ARR remaining.Source: earnings call transcript | ~$59.3MIn Q2, we had $11.4 million of conversion ARR, and we finished the quarter with approximately $59.3 million of non-SaaS ARR remaining.Source: earnings call transcript | — |
| Renewal rate SaaS | 90%+Our SaaS renewal rate was over 90%.Source: earnings call transcript | 90%+Our SaaS renewal rate was over 90%.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.