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Dec 31, 2023
Varonis Q4 2023 Earnings Report
Announced fourth quarter and full-year 2023 financial results, highlighting the sustained momentum of the SaaS platform and acceleration of the SaaS transition timeline.
Key Takeaways
Varonis Systems, Inc. reported strong fourth-quarter results, driven by the sustained momentum of its SaaS platform. SaaS ARR represented approximately 23% of total company ARR at year-end, leading to an accelerated SaaS transition timeline, now expected to complete by the end of 2026.
Annual recurring revenues grew 17% year-over-year.
SaaS ARR as a percentage of total ARR was approximately 23%.
SaaS mix of 66% versus guidance of 60%.
SaaS transition timeline is expected to complete by the end of 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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