Varonis Systems, Inc. (VRNS)

Varonis Systems Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	595.17	550.95	499.16	473.63	390.13	292.69
Revenue Growth (YoY)	14.29%	10.38%	5.39%	21.40%	33.29%	15.15%
Cost of Revenue	110.33	93.85	71.75	69.84	59.4	44.26
Gross Profit	484.84	457.1	427.41	403.8	330.74	248.43
Selling, General & Admin	391.26	377.99	360.79	347.15	291.55	227.48
Research & Development	207.81	190.11	183.84	177.88	137.88	99.36
Operating Expenses	599.07	568.1	544.63	525.03	429.43	326.84
Operating Income	-114.23	-111	-117.22	-121.23	-98.69	-78.42
Interest Expense	-10.02	-6.72	-4.71	-4.65	-10.04	-6.11
Interest & Investment Income	37.25	30.36	25.21	10.07	0.16	0.67
Currency Exchange Gain (Loss)	-0.83	-0.83	0.92	5.15	-1.7	-1.73
Other Non Operating Income (Expenses)	3.69	-0.86	-0.46	-0.5	-0.57	-0.32
EBT Excluding Unusual Items	-84.13	-89.04	-96.27	-111.16	-110.84	-85.9
Gain (Loss) on Sale of Investments	4.67	12.69	9.35	0.34	-	-
Pretax Income	-86.74	-83.01	-86.92	-110.82	-110.84	-85.9
Income Tax Expense	16.19	12.76	14	13.7	6.02	8.11
Net Income	-102.93	-95.77	-100.92	-124.52	-116.86	-94.01
Net Income to Common	-102.93	-95.77	-100.92	-124.52	-116.86	-94.01
Shares Outstanding (Basic)	112	112	109	109	105	94
Shares Outstanding (Diluted)	112	112	109	109	105	94
Shares Change (YoY)	2.08%	2.31%	-0.13%	3.77%	11.63%	3.93%
EPS (Basic)	-0.92	-0.86	-0.92	-1.14	-1.11	-1.00
EPS (Diluted)	-0.92	-0.86	-0.92	-1.14	-1.11	-1.00
Free Cash Flow	124.81	108.51	54.32	0.48	-3.31	-15.96
Free Cash Flow Per Share	1.11	0.97	0.50	0.00	-0.03	-0.17
Gross Margin	81.46%	82.97%	85.63%	85.26%	84.78%	84.88%
Operating Margin	-19.19%	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Profit Margin	-17.29%	-17.38%	-20.22%	-26.29%	-29.95%	-32.12%
Free Cash Flow Margin	20.97%	19.69%	10.88%	0.10%	-0.85%	-5.45%
EBITDA	-103.88	-99.87	-105.52	-109.05	-87.81	-68.25
EBITDA Margin	-17.45%	-18.13%	-21.14%	-23.02%	-22.51%	-23.32%
D&A For EBITDA	10.35	11.13	11.7	12.18	10.89	10.17
EBIT	-114.23	-111	-117.22	-121.23	-98.69	-78.42
EBIT Margin	-19.19%	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Revenue as Reported	595.17	550.95	499.16	473.63	390.13	292.69

Updated Jul 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q