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Mar 31, 2024
Varonis Q1 2024 Earnings Report
Varonis's SaaS platform saw strong adoption, with 30% of total company ARR coming from SaaS.
Key Takeaways
Varonis Systems, Inc. announced financial results for the first quarter ended March 31, 2024. The company saw continued strong adoption of its SaaS platform, driven by automated outcomes and the introduction of the MDDR offering. SaaS ARR accounted for 30% of total company ARR at the end of the quarter.
Annual recurring revenues grew 17% year-over-year.
SaaS ARR as a percentage of total ARR was approximately 30%.
Year-to-date cash from operations generated $56.7 million vs. $36.8 million last year.
Year-to-date free cash flow generated $56.4 million vs. $35.7 million last year
Varonis
Varonis
Varonis Revenue by Segment
Revenue by Segment
SaaS Revenue
CapyFin.comTerm License Subscriptions Revenue
CapyFin.comMaintenance and Services Revenue
CapyFin.comRevenue & Expenses
Visualization of income flow from segment revenue to net income