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Jun 30, 2024
Varonis Q2 2024 Earnings Report
Varonis's Q2 2024 financial results were announced, highlighting the growing momentum of their SaaS platform and Managed Data Detection and Response offering.
Key Takeaways
Varonis announced strong Q2 2024 results driven by the adoption of their SaaS platform. SaaS ARR reached 36% of total ARR. The company raised its full-year ARR and free cash flow guidance, and increased SaaS ARR expectations to 48% for the full year.
Annual recurring revenues grew 18% year-over-year.
SaaS ARR accounted for approximately 36% of total ARR.
Year-to-date cash from operations generated $68.4 million.
Year-to-date free cash flow generated $67.3 million.
Varonis
Varonis
Varonis Revenue by Segment
Revenue by Segment
SaaS Revenue
CapyFin.comTerm License Subscriptions Revenue
CapyFin.comMaintenance and Services Revenue
CapyFin.com Forward Guidance
Varonis raised its full-year ARR and free cash flow guidance and increased SaaS ARR expectations to 48% for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income