Varonis Systems (VRNS) Tops Q2 EPS by 5c

Varonis Systems (NASDAQ: VRNS) reported Q2 EPS of ($0.12), $0.05 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $38.6 million versus the consensus estimate of $36.6 million.

Yaki Faitelson, Varonis CEO, said, “We are very pleased with our second quarter performance. We see strong momentum in the business, and this is our third quarter in a row of growing both license and total revenues by 30% or more year over year. A growing number of organizations realize that they don’t have visibility into unstructured data and file systems, which are their assets most at risk. Managing and protecting these assets are increasingly becoming key spending priorities for IT and security professionals, as well as senior executives who understand the ramifications of not taking action. This is driving the need for our solutions, and our go-to-market efforts are helping us to more effectively capture our expanding opportunity."

GUIDANCE:

Varonis Systems sees Q3 2016 EPS of ($0.11)-($0.10), versus the consensus of ($0.14). Varonis Systems sees Q3 2016 revenue of $38.2-38.8 million, versus the consensus of $38.12 million.

Varonis Systems sees FY2016 EPS of ($0.36)-($0.33), versus the consensus of ($0.39). Varonis Systems sees FY2016 revenue of $158.6-160.6 million, versus the consensus of $157.1 million.

For earnings history and earnings-related data on Varonis Systems (VRNS) click here.

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