Varonis Systems
Maps and protects enterprise data, access, and AI activity through a SaaS security platform.
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Profile
Sells a SaaS data and AI security platform that maps sensitive information, permissions, and activity across cloud and on-premises systems, then automates exposure reduction and threat response. Managed monitoring, database and email security, and Atlas AI controls broaden the suite; most revenue comes from subscriptions sold through channel partners.
Maps sensitive enterprise data, permissions, and activity through the Varonis Data Security Platform, then automates exposure reduction and threat response. The SaaS suite combines data discovery and classification, access intelligence, least-privilege automation, privacy and compliance, and Managed Data Detection and Response across cloud, SaaS, database, email, and on-premises environments.
Varonis Database Activity Monitoring and Varonis Interceptor extend protection to databases and phishing channels, while Varonis Atlas inventories and governs models and agents. A channel-led sales force serves mainly large organizations worldwide; most revenue comes from the United States, while most research and development occurs in Israel.
Revenue is overwhelmingly SaaS, with legacy term-license and maintenance streams winding down before the announced self-hosted product end-of-life. Substantially all offerings are sold through resellers and distributors, and operations are subject to evolving data-protection, privacy, cybersecurity, and AI regulations.
Company facts
Categories
Key statistics
Year to date +37.1% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 29, 2026 | Susquehanna | Reiterate | Positive | $36 | $55 |
| Jul 29, 2026 | Needham | Reiterate | Buy | $36 | $50 |
| Jul 29, 2026 | Robert W. Baird | Target | $32 | $45 | |
| Jul 24, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $50 | $55 |
| Jul 21, 2026 | Truist Financial | Target | $34 | $52 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.01 | $0.04 | +409.6% | $176.8M | $180.0M | +1.8% | −9.00% |
| Apr 28, 2026Q1 FY26 | −$0.05 | $0.06 | +220.0% | $165.5M | $173.1M | +4.6% | +7.27% |
| Feb 3, 2026Q4 FY25 | $0.03 | $0.08 | +166.7% | $168.5M | $173.4M | +2.9% | −10.78% |
| Oct 28, 2025Q3 FY25 | $0.05 | $0.06 | +10.7% | $166.5M | $161.6M | −2.9% | −48.67% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $136.4M | $152.2M | $161.6M | $173.4M | $173.1M | $180.0M | |
| Gross profit | $107.4M | $120.9M | $126.4M | $136.8M | $131.6M | $135.5M | |
| Operating income | −$43.8M | −$36.6M | −$35.9M | −$30.3M | −$44.5M | −$40.6M | |
| Net income | −$35.8M | −$35.8M | −$29.9M | −$27.8M | −$36.9M | −$46.8M | |
| Diluted EPS | −$0.32 | −$0.32 | −$0.26 | −$0.23 | −$0.32 | −$0.41 | |
| Gross margin | 78.7% | 79.5% | 78.2% | 78.9% | 76.0% | 75.3% | |
| Operating margin | -32.1% | -24.0% | -22.2% | -17.5% | -25.7% | -22.6% |
Fiscal years (4-quarter sums)FY21 $390.1M · FY22 $473.6M · FY23 $499.2M · FY24 $551.0M · FY25 $623.5M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $660.1M · Total debt $516.1M · Total assets $1.65B · Shareholders' equity $444.5M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 114.86M · Float 111.36M · 97.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 12.79M | 11.13% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 7.57M | 6.59% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 4.99M | 4.34% | 13F | Aug 13, 2026 |
| Tremblant Capital Group | 3.75M | 3.26% | 13F | Aug 14, 2026 |
| Voya Investment Management LLC | 3.72M | 3.24% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 6, 2026 | Avrohom J. Kess | director | +17,800 | $22.29 |
| Feb 6, 2026 | John J. Jr Gavin | director | +5,000 | $22.54 |
| Feb 9, 2026 | David Bass | officer: EVP Engineering & CTO | +2,980 | $23.47 |
| Feb 9, 2026 | Yakov Faitelson | director, officer: CEO, President, Chairman | +26,725 | $22.41 |
| Aug 29, 2025 | Guy Melamed | officer: CFO and COO | −1,500 | $59.59 |
Peers
- Microsoft
Native M365 data governance, DLP, and DSPM bundled in Microsoft 365 E5 licensing
- Rubrik
Data resilience platform with DSPM via Laminar; overlaps on cloud data posture
- Palo Alto Networks
Broad CNAPP platform with DSPM module via Dig Security, pitching platformization
- CrowdStrike
Endpoint-to-cloud cybersecurity platform with unified DLP, identity, and XDR
- Zscaler
Cloud-native SASE platform with unified inline DLP, DSPM, and CASB at scale
- Tenable
Vulnerability and exposure platform with cloud DSPM and CIEM via Ermetic (2023)
- SentinelOne
Singularity XDR and AI SIEM platform spanning endpoint, identity, and cloud
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Varonis Systems | $43.92 | +0.01% | $5.04B | — | 203.0 | 7.3 | +18.3% |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Rubrik | $92.95 | −0.08% | $19.15B | — | 247.0 | 12.4 | +37.9% |
| Palo Alto Networks | $372.18 | +0.16% | $302.85B | 323.1 | 94.9 | 28.6 | +31.2% |
| CrowdStrike | $217.75 | −0.30% | $222.39B | 6,720.0 | 157.7 | 41.2 | +25.8% |
| Zscaler | $184.45 | +0.15% | $29.79B | — | 41.4 | 9.4 | +25.4% |
| Tenable | $37.70 | +0.13% | $4.15B | 604.7 | 18.4 | 4.0 | +8.6% |
| SentinelOne | $21.42 | −0.63% | $7.25B | — | 49.4 | 6.6 | +20.6% |
| Median | 463.9 | 49.4 | 11.5 | +25.4% |