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Dec 31, 2022
Varonis Q4 2022 Earnings Report
Announced fourth quarter and full-year 2022 financial results, with total revenues growing 13% year-over-year and approximately 10% SaaS mix of new business and upsell ARR.
Key Takeaways
Varonis Systems, Inc. reported a 13% year-over-year increase in total revenues for the fourth quarter ended December 31, 2022. The company's new SaaS product received encouraging initial reception from customers and the sales force.
Annual recurring revenues grew 20% year-over-year.
Fourth quarter total revenues grew 13% year-over-year.
Approximately 10% SaaS mix of new business and upsell ARR in the fourth quarter.
Varonis is confident in its ability to weather the current economic environment.
Varonis
Varonis
Forward Guidance
Varonis expects SaaS will represent 15% of new business and upsell ARR for the first quarter and full year ended 2023.