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Sep 30, 2024
Varonis Q3 2024 Earnings Report
Varonis demonstrated strong growth driven by SaaS adoption and Managed Data Detection and Response offering.
Key Takeaways
Varonis announced strong third quarter results, driven by the continued adoption of their SaaS platform and positive momentum from their Managed Data Detection and Response offering. SaaS ARR reached 43% of total ARR, benefiting ARR growth and cash flow generation.
Annual recurring revenues grew 18% year-over-year.
SaaS ARR as a percentage of total ARR was approximately 43%.
Year-to-date cash from operations generated $90.9 million vs. $49.0 million last year.
Year-to-date free cash flow generated $88.6 million vs. $46.0 million last year.