Quarterly ResultApr 29, 2026, 04:49 PM
VRNS Q1 Revenue +26.9% to $173.1M; Net Loss $(36.9)M
AI Summary
Varonis Systems Inc. reported a 26.9% increase in total revenues to $173.1 million for Q1 2026, primarily driven by an 81.9% surge in SaaS revenues to $161.1 million. Despite this growth, the company's net loss slightly widened to $(36.9) million, or $(0.32) per share. The quarter also saw significant cash outflows for acquisitions totaling $113.6 million and common stock repurchases of $135.0 million, alongside the disclosure of two new securities class action lawsuits.
Key Highlights
- Total revenues increased 26.9% to $173.1 million in Q1 2026 from $136.4 million in Q1 2025.
- SaaS revenues surged 81.9% to $161.1 million in Q1 2026 from $88.6 million in Q1 2025.
- Net loss was $(36.9) million, or $(0.32) per share, in Q1 2026, compared to $(35.8) million in Q1 2025.
- Net cash provided by operating activities decreased to $55.0 million in Q1 2026 from $68.0 million in Q1 2025.
- Cash used for acquisitions, net of cash acquired, was $(113.6) million in Q1 2026.
- Repurchase of common stock totaled $(135.0) million in Q1 2026.
- Remaining performance obligations were $1,095.4 million as of March 31, 2026.
- Two securities class action lawsuits were filed against the company in early 2026.