Varonis Systems (VRNS) Tops Q3 EPS by 8c

Varonis Systems (NASDAQ: VRNS) reported Q3 EPS of ($0.03), $0.08 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $40.9 million versus the consensus estimate of $38.6 million.

Yaki Faitelson, Varonis CEO, said, “We delivered a strong third quarter. For the fourth quarter in a row, both license and total revenues grew by more than 30% year over year. We exceeded our guidance on both the top and bottom lines, and our efforts to reach enterprises with 1,000 or more employees and a larger total customer lifetime value are also paying off. Demand for our solutions increased, and we are encouraged by the positive momentum we see in the business driven by growing awareness of the insider threat and Varonis’ role in protecting data. Customers are recognizing that our software provides better protections around data and enables better control of access so companies can discover where their information assets are, track and profile those who use them, spot who may be abusing them, and identify those who are responsible for them."

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

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