Varonis Systems, Inc. (VRNS)

Varonis Systems Income Statement

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

Year	2023	2022	2021	2020	2019
Revenue	499.16	473.63	390.13	292.69	254.19
Revenue Growth (YoY)	5.39%	21.40%	33.29%	15.15%	-5.96%
Cost of Revenue	71.75	69.84	59.4	44.26	35.14
Gross Profit	427.41	403.8	330.74	248.43	219.05
Selling, General & Admin	360.79	347.15	291.55	227.48	214.27
Research & Development	183.84	177.88	137.88	99.36	80.76
Operating Expenses	544.63	525.03	429.43	326.84	295.03
Operating Income	-117.22	-121.23	-98.69	-78.42	-75.99
Interest Expense / Income	-30.31	-10.41	12.15	7.48	0.39
Pretax Income	-86.92	-110.82	-110.84	-85.9	-76.38
Income Tax	14	13.7	6.02	8.11	2.39
Net Income	-100.92	-124.52	-116.86	-94.01	-78.76
Shares Outstanding (Basic)	109	109	105	94	91
Shares Outstanding (Diluted)	109	109	105	94	91
Shares Change	-0.13%	3.78%	11.63%	3.93%	4.26%
EPS (Basic)	-0.92	-1.14	-1.11	-1.00	-0.87
EPS (Diluted)	-0.92	-1.14	-1.11	-1.00	-0.87
Free Cash Flow	54.32	0.5	-3.31	-15.96	-36.06
Free Cash Flow Per Share	0.50	0.01	-0.03	-0.17	-0.40
Gross Margin	85.63%	85.26%	84.77%	84.88%	86.17%
Operating Margin	-23.48%	-25.60%	-25.30%	-26.79%	-29.89%
Profit Margin	-20.22%	-26.29%	-29.95%	-32.12%	-30.99%
Free Cash Flow Margin	10.88%	0.10%	-0.85%	-5.45%	-14.19%
EBITDA	-96.05	-99.75	-79.57	-59.51	-60.64
EBITDA Margin	-19.24%	-21.06%	-20.40%	-20.33%	-23.86%
Depreciation & Amortization	21.17	21.48	19.12	18.9	15.34
EBIT	-117.22	-121.23	-98.69	-78.42	-75.99
EBIT Margin	-23.48%	-25.60%	-25.30%	-26.79%	-29.89%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).