Jun 2026 (Q2 FY26) — Jul 28, 2026
Varonis Q2 FY26 — Strong SaaS ARR Growth and AI Security Momentum
Read the full callVaronis (VRNS) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Varonis earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 180 | +18.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -22.6 | +1.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -46.8 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
25 of 27 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP diluted EPS | $0.00 to $0.01 | Mar 2026 | Net income for the second quarter of 2026 was $5.3 million or net income of $0.04 per diluted share | Achieved |
| Full-year free cash flow | $100 million to $105 million | Dec 2025 | We are confident in our cash flow generation and are raising our full year free cash flow guidance by $5 million. | Revised Up |
| Complete transition to 100% SaaS (eliminate non-SaaS/self-hosted ARR) | 100% SaaS by end of 2026 (zero non-SaaS ARR remaining) | Dec 2025 | we finished the quarter with approximately $59.3 million of non-SaaS ARR remaining | On Track |
2 of VARONIS SYSTEMS INC's 47 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 44 more targets are in the full ledger.
Claimed
- SaaS ARR, excluding conversions, increased 25% year-over-year to $598.1 million.
- SaaS ARR from new logos grew by more than 20% in the quarter.
- Growing momentum from newer products including Atlas Interceptor and database activity monitoring.
- Full year guidance for SaaS ARR (ex-conversions) raised by $5 million to $769 million-$775 million.
- Full year free cash flow guidance raised by $5 million to $105 million-$110 million.
Qualified
- Some large deals slipped at the end of the quarter due to rumors in the news, limiting Q2 upside.
- Year-to-date free cash flow was $69.1 million, down from $82.7 million in the prior year, impacted by on-prem EOL and $11.9 million in acquisition-related costs.
- Non-GAAP gross margin decreased to 77.7% from 80.6% in Q2 2025.
Price
$48.7 −0.04% · −$0.02
Performance −19.3% 1Y
1Y: $60.38 on 17 Oct 2025 → $48.7. High $63 (28 Oct 2025), low $20.19 (10 Apr 2026).
- Previous close
- $48.72
- 52-week range
- $20.19 – $63
- One year
- −21.74%
Overview
- Symbol
- VRNS
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
25 of 27 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP diluted EPS | $0.00 to $0.01 | Mar 2026 | Net income for the second quarter of 2026 was $5.3 million or net income of $0.04 per diluted share | Achieved |
| Full-year free cash flow | $100 million to $105 million | Dec 2025 | We are confident in our cash flow generation and are raising our full year free cash flow guidance by $5 million. | Revised Up |
| Complete transition to 100% SaaS (eliminate non-SaaS/self-hosted ARR) | 100% SaaS by end of 2026 (zero non-SaaS ARR remaining) | Dec 2025 | we finished the quarter with approximately $59.3 million of non-SaaS ARR remaining | On Track |
Claimed
- SaaS ARR, excluding conversions, increased 25% year-over-year to $598.1 million.
- SaaS ARR from new logos grew by more than 20% in the quarter.
- Growing momentum from newer products including Atlas Interceptor and database activity monitoring.
- Full year guidance for SaaS ARR (ex-conversions) raised by $5 million to $769 million-$775 million.
- Full year free cash flow guidance raised by $5 million to $105 million-$110 million.
Qualified
- Some large deals slipped at the end of the quarter due to rumors in the news, limiting Q2 upside.
- Year-to-date free cash flow was $69.1 million, down from $82.7 million in the prior year, impacted by on-prem EOL and $11.9 million in acquisition-related costs.
- Non-GAAP gross margin decreased to 77.7% from 80.6% in Q2 2025.
The full ledger
Open VARONIS SYSTEMS INC’s full ledger
A free account opens 5 company ledgers a month. All 47 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
Varonis Q1 FY26 — Strong SaaS ARR Growth Driven by AI Security Demand
Read the full callEvery analysed call
Varonis earnings calls (VRNS)
Financials
What the filings say
Net profit, year on year: −31% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 148 | 159 | 136 | 152 | 162 | 173 | 173 | 180 |
| Operating profit | -24 | -18 | -44 | -37 | -36 | -30 | -44 | -41 |
| Operating margin | −16.0% | −11.1% | −32.1% | −24.0% | −22.2% | −17.5% | −25.7% | −22.6% |
| Other income | 10 | 8 | 12 | 5 | 8 | 5 | 4 | -1 |
| Profit before tax | -13 | -10 | -32 | -32 | -28 | -25 | -40 | -41 |
| Tax rate | −36.9% | −30.6% | −12.5% | −13.4% | −6.5% | −12.0% | 8.0% | −13.1% |
| Net profit | -18 | -13 | -36 | -36 | -30 | -28 | -37 | -47 |
| EPS ($ per share) | -0.16 | — | -0.32 | -0.32 | -0.26 | — | -0.32 | -0.41 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -138 | -217 | -311 | -428 | -543 | -644 | -740 | -869 |
| Total liabilities | 160 | 225 | 461 | 512 | 542 | 614 | 1,209 | 1,193 |
| Fixed assets | 17 | 36 | 37 | 38 | 39 | 34 | 31 | 36 |
| Investments | 40 | 42 | 34 | 0 | 236 | 253 | 343 | 681 |
| Total assets | 285 | 318 | 555 | 1,109 | 1,044 | 1,104 | 1,664 | 1,792 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 24 | -11 | -6 | 7 | 12 | 59 | 115 | 147 |
| Cash from investing | -40 | 33 | -55 | 54 | -374 | -143 | -532 | -1 |
| Cash from financing | 8 | -2 | 226 | 510 | -76 | -53 | 372 | -130 |
| Net cash flow | -9 | 20 | 165 | 572 | -438 | -137 | -45 | 17 |
| Capital expenditure | -10 | -25 | -10 | -10 | -11 | -5 | -7 | -13 |
| Free cash flow | 14 | -36 | -16 | -3 | 0 | 54 | 109 | 135 |
VRNS revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Term License Subscriptions Saa S Revenues and Maintenance and Services Fees | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +18.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
VRNS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | 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.
Revenue by region
Q2 FY2026 · share of revenue
- US 72%
- EMEA 20% ↑ 1 pt
- Rest Of World 8% ↑ 5 pt
As VRNS cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
32 filings between Feb 2, 2026 and May 31, 2026.
Open market
decisions to buy or sellPurchases
$1.18M
4 purchases by 4 insiders
Sales
None
No insider sold shares.
Compensation
not trading decisions- 20
- Award — granted as compensation
- 5
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Faitelson Yakov | $598.9K | — | Feb 9, 2026 |
| Kess Avrohom J. | $396.8K | — | Feb 6, 2026 |
| GAVIN JOHN J JR | $112.7K | — | Feb 6, 2026 |
| Bass David | $69.9K | — | Feb 9, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 31, 2026 | Gottlieb Dov EVP and General Counsel | Tax withheld | 9,264 | $316.4K |
| May 22, 2026 | Melamed Guy CFO and COO | Tax withheld | 104,440 | $2.41M |
| Apr 30, 2026 | Segev Ofer Director | Award | 7,224 | $0 |
| Apr 30, 2026 | MENDOZA THOMAS F Director | Award | 7,224 | $0 |
| Apr 30, 2026 | Korkus Ohad Director | Award | 7,224 | $0 |
| Apr 30, 2026 | Kess Avrohom J. Director | Award | 7,224 | $0 |
| Apr 30, 2026 | Iohan Gili Director | Award | 7,224 | $0 |
| Apr 30, 2026 | GAVIN JOHN J JR Director | Award | 7,224 | $0 |
| Apr 30, 2026 | COMOLLI KEVIN E Director | Award | 7,224 | $0 |
| Apr 30, 2026 | Aued Carlos Director | Award | 7,224 | $0 |
| Apr 30, 2026 | VAN DEN BOSCH FRED Director | Award | 7,224 | $0 |
| Apr 30, 2026 | Prishkolnik Rachel Director | Award | 7,224 | $0 |
| Feb 27, 2026 | Pomeroy Greg SVP, Worldwide Sales | Tax withheld | 32,581 | $752.6K |
| Feb 27, 2026 | Gottlieb Dov VP and General Counsel | Tax withheld | 20,206 | $466.8K |
| Feb 27, 2026 | Faitelson Yakov CEO, President, Chairman | Tax withheld | 369,576 | $8.54M |
| Feb 9, 2026 | Faitelson Yakov CEO, President, Chairman | Purchase | 26,725 | $598.9K |
| Feb 9, 2026 | Faitelson Yakov CEO, President, Chairman | Gift | 31,928 | — |
| Feb 9, 2026 | Faitelson Yakov CEO, President, Chairman | Gift | 87,000 | $0 |
| Feb 9, 2026 | Bass David EVP Engineering & CTO | Purchase | 2,980 | $69.9K |
| Feb 9, 2026 | Faitelson Yakov CEO, President, Chairman | Gift | 47,000 | $0 |
| Feb 6, 2026 | Bass David EVP Engineering & CTO | Award | 169,095 | $0 |
| Feb 6, 2026 | Kess Avrohom J. Director | Purchase | 17,800 | $396.8K |
| Feb 6, 2026 | GAVIN JOHN J JR Director | Purchase | 5,000 | $112.7K |
| Feb 6, 2026 | Faitelson Yakov CEO, President, Chairman | Award | 315,674 | $0 |
| Feb 6, 2026 | Pomeroy Greg SVP, Worldwide Sales | Award | 75,056 | $0 |
| Feb 6, 2026 | Melamed Guy CFO and COO | Award | 125,359 | $0 |
| Feb 6, 2026 | Gottlieb Dov VP and General Counsel | Award | 66,226 | $0 |
| Feb 2, 2026 | Gottlieb Dov VP and General Counsel | Award | 12,497 | $0 |
| Feb 2, 2026 | Pomeroy Greg SVP, Worldwide Sales | Award | 23,011 | $0 |
| Feb 2, 2026 | Bass David EVP Engineering & CTO | Award | 63,735 | $0 |
| Feb 2, 2026 | Melamed Guy CFO and COO | Award | 70,967 | $0 |
| Feb 2, 2026 | Faitelson Yakov CEO, President, Chairman | Award | 162,460 | $0 |
| Sep 11, 2025 | Faitelson Yakov CEO, President, Chairman | Gift | 54,735 | $0 |
| Sep 11, 2025 | Faitelson Yakov CEO, President, Chairman | Gift | 31,928 | $0 |
| Aug 29, 2025 | Melamed Guy CFO and COO | Sale 10b5-1 plan | 1,500 | $89.4K |
| Aug 28, 2025 | Melamed Guy CFO and COO | Sale 10b5-1 plan | 3,892 | $231.7K |
| Aug 22, 2025 | Melamed Guy CFO and COO | Sale 10b5-1 plan | 10,400 | $619.1K |
| Aug 13, 2025 | Melamed Guy CFO and COO | Sale 10b5-1 plan | 42,705 | $2.46M |
| Aug 1, 2025 | VAN DEN BOSCH FRED Director | Sale 10b5-1 plan | 3,000 | $165.2K |
| Aug 1, 2025 | Melamed Guy CFO and COO | Sale 10b5-1 plan | 51,889 | $2.86M |
| Jun 4, 2025 | VAN DEN BOSCH FRED Director | Sale 10b5-1 plan | 6,000 | $300.0K |
| Jun 2, 2025 | Gottlieb Dov VP and General Counsel | Tax withheld | 18,333 | $874.1K |
| May 8, 2025 | VAN DEN BOSCH FRED Director | Award | 4,178 | $0 |
| May 8, 2025 | Segev Ofer Director | Award | 4,178 | $0 |
| May 8, 2025 | Prishkolnik Rachel Director | Award | 4,178 | $0 |
| May 8, 2025 | MENDOZA THOMAS F Director | Award | 4,178 | $0 |
| May 8, 2025 | Korkus Ohad Director | Award | 4,178 | $0 |
| May 8, 2025 | Kess Avrohom J. Director | Award | 4,178 | $0 |
| May 8, 2025 | Iohan Gili Director | Award | 4,178 | $0 |
| May 8, 2025 | GAVIN JOHN J JR Director | Award | 4,178 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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