Varonis Systems, Inc. (VRNS)

Varonis Systems Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	550.95	499.16	473.63	390.13	292.69
Revenue Growth (YoY)	10.38%	5.39%	21.40%	33.29%	15.15%
Cost of Revenue	93.85	71.75	69.84	59.4	44.26
Gross Profit	457.1	427.41	403.8	330.74	248.43
Selling, General & Admin	377.99	360.79	347.15	291.55	227.48
Research & Development	190.11	183.84	177.88	137.88	99.36
Operating Expenses	568.1	544.63	525.03	429.43	326.84
Operating Income	-111	-117.22	-121.23	-98.69	-78.42
Interest Expense	-6.72	-4.71	-4.65	-10.04	-6.11
Interest & Investment Income	30.36	25.21	10.07	0.16	0.67
Currency Exchange Gain (Loss)	-0.83	0.92	5.15	-1.7	-1.73
Other Non Operating Income (Expenses)	-0.86	-0.46	-0.5	-0.57	-0.32
EBT Excluding Unusual Items	-89.04	-96.27	-111.16	-110.84	-85.9
Gain (Loss) on Sale of Investments	12.69	9.35	0.34	-	-
Pretax Income	-83.01	-86.92	-110.82	-110.84	-85.9
Income Tax Expense	12.76	14	13.7	6.02	8.11
Net Income	-95.77	-100.92	-124.52	-116.86	-94.01
Net Income to Common	-95.77	-100.92	-124.52	-116.86	-94.01
Shares Outstanding (Basic)	112	109	109	105	94
Shares Outstanding (Diluted)	112	109	109	105	94
Shares Change (YoY)	2.31%	-0.13%	3.77%	11.63%	3.93%
EPS (Basic)	-0.86	-0.92	-1.14	-1.11	-1.00
EPS (Diluted)	-0.86	-0.92	-1.14	-1.11	-1.00
Free Cash Flow	108.51	54.32	0.48	-3.31	-15.96
Free Cash Flow Per Share	0.97	0.50	0.00	-0.03	-0.17
Gross Margin	82.97%	85.63%	85.26%	84.78%	84.88%
Operating Margin	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Profit Margin	-17.38%	-20.22%	-26.29%	-29.95%	-32.12%
Free Cash Flow Margin	19.69%	10.88%	0.10%	-0.85%	-5.45%
EBITDA	-99.87	-105.52	-109.05	-87.81	-68.25
EBITDA Margin	-18.13%	-21.14%	-23.02%	-22.51%	-23.32%
D&A For EBITDA	11.13	11.7	12.18	10.89	10.17
EBIT	-111	-117.22	-121.23	-98.69	-78.42
EBIT Margin	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Revenue as Reported	550.95	499.16	473.63	390.13	292.69

Updated Feb 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q