Varonis Tops Q2 Estimates and Lifts Full-Year SaaS ARR and Revenue Outlook
VRNS has more than doubled off its 52-week low of $19.7 on elevated volume (1.9× avg).
Summary
Varonis reported Q2 revenue of $180M, beating estimates, and swung to a non-GAAP operating profit. SaaS ARR grew 52% to $726M, and the company raised its full-year guidance across key metrics.
Updates
· SEC 10-Q — The 10-Q reports Q2 net loss of $46.8M, or $0.41 per share, and six-month net loss of $83.7M, or $0.73 per share.
Key Events · Earnings and Guidance · VRNS
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Q2 Revenue Beat
Total revenues of $180.0M exceeded the $177M consensus, up 18% year-over-year, driven by SaaS revenue growth of 62% to $171.7M.
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SaaS ARR Surge
SaaS ARR reached $726.0M, up 52% year-over-year; excluding conversions, organic growth was 25%, reflecting strong new logo momentum and AI security demand.
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Profitability Turnaround
Non-GAAP operating income swung to $3.7M from a loss of $1.9M a year ago, while GAAP operating loss narrowed slightly to $40.6M due to higher stock-based compensation and acquisition amortization.
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Raised Full-Year Guidance
Management lifted its 2026 outlook: SaaS ARR now $819M–$850M (28–33% growth), revenues $735M–$739M (18–19% growth), and non-GAAP operating income $11M–$13M.
Analysis · VRNS · Technology
A strong second quarter saw Varonis deliver revenue of $180M, surpassing the $177M consensus, while non-GAAP operating income swung to a $3.7M profit from a loss a year ago. SaaS ARR surged 52% to $726M, fueled by 25% organic growth and accelerating momentum from newer AI security products. Management raised its full-year SaaS ARR outlook to $819M–$850M and revenue to $735M–$739M, signaling confidence in sustained demand. The results reinforce the company's pivot to a SaaS model and its positioning as a leader in data and AI security, a narrative that aligns with recent takeover interest reported in June.
How filings like this one have moved
In the 30 days to Nov 4, 2026, 41.5% of the 1196 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.36%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, VRNS was trading at $41.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $19.70 to $63.90. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.