Varonis 10-Q: Q3 Revenue $189.5M, Net Loss $41.6M as $49.75/Share Proofpoint Deal Pends
VRNS has more than doubled off its 52-week low of $19.7 on elevated volume (1.8× avg).
Summary
Varonis' Q3 10-Q shows revenue of $189.5 million and a $41.6 million net loss, with $631.4 million in cash and short-term investments, while the $49.75-per-share Proofpoint acquisition works through closing conditions toward the first half of 2027.
Key Events · Earnings and Guidance · VRNS
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Q3 Revenue Grows 17% to $189.5M
Total revenue rose to $189.461 million from $161.577 million, with SaaS revenue up 47% to $185.120 million and now 97.7% of the total.
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Net Loss Widens to $41.6M
Net loss was $41.648 million, or $0.36 per share, versus $29.942 million ($0.26) a year earlier; nine-month net loss reached $125.311 million.
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Cash and Investments of $631.4M
Cash, cash equivalents, short-term marketable securities and short-term deposits totaled $631.4 million at September 30, 2026, plus $306.3 million in long-term marketable securities; nine-month operating cash flow was $108.296 million.
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Proofpoint Deal Pending at $49.75 Cash
The merger is expected to close in the first half of 2027 subject to stockholder approval and regulatory clearance, with a July 15, 2027 outside date, a $211.7 million company termination fee and a $423.3 million reverse termination fee.
Analysis · VRNS · Technology
The headline numbers are already out, but the full 10-Q fills in what the release did not: a $41.6 million net loss ($0.36 per share) versus $29.9 million a year ago, nine-month operating cash flow of $108.3 million against $122.7 million, and $631.4 million of cash plus short-term investments. With the stock trading near the $49.75 all-cash merger price, the operating figures matter less for valuation than for deal risk. The merger agreement requires Varonis to run the business in the ordinary course, and the outside date is July 15, 2027, with a $211.7 million break fee on Varonis and a $423.3 million reverse fee on Proofpoint. The filing also updates the securities class action, where plaintiffs extended the class period through February 3, 2026 and are seeking to move the case to Florida.
How filings like this one have moved
In the 30 days to Nov 5, 2026, 33.4% of the 2397 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, VRNS was trading at $48.91 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.6B. The 52-week trading range was $19.70 to $50.31. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.