Quarterly ResultApr 28, 2026, 04:07 PM
VRNS Q1 SaaS ARR +69% to $683.2M; Raises Full-Year Guidance
AI Summary
VARONIS SYSTEMS INC reported strong first-quarter 2026 financial results, with SaaS ARR, excluding conversions, increasing 29% year-over-year and total SaaS ARR reaching $683.2 million, up 69%. Total revenues grew to $173.1 million, and the company significantly improved its non-GAAP operating loss. Varonis also launched Varonis Atlas, a new AI security platform, and raised its full-year 2026 guidance for SaaS ARR growth, reflecting confidence in its business momentum and the AI market opportunity.
Key Highlights
- SaaS ARR, excluding conversions, increased 29% year-over-year.
- Total SaaS ARR reached $683.2 million, up 69% year-over-year.
- Total revenues were $173.1 million, up from $136.4 million in Q1 2025.
- Non-GAAP operating loss improved to ($1.4) million from ($6.5) million in Q1 2025.
- Launched Varonis Atlas, powered by the AllTrue.ai acquisition, for AI security.
- Raised full-year 2026 SaaS ARR guidance to $814.0M-$845.0M (27%-32% YoY).
- Repurchased 5,355,445 shares for $132.1 million.
- Generated $49.0 million in free cash flow in Q1 2026.