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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	573.35	550.95	499.16	473.63	390.13	292.69
Revenue Growth (YoY)	13.35%	10.38%	5.39%	21.40%	33.29%	15.15%
Cost of Revenue	101.52	93.85	71.75	69.84	59.4	44.26
Gross Profit	471.84	457.1	427.41	403.8	330.74	248.43
Selling, General & Admin	381.87	377.99	360.79	347.15	291.55	227.48
Research & Development	196.5	190.11	183.84	177.88	137.88	99.36
Operating Expenses	578.36	568.1	544.63	525.03	429.43	326.84
Operating Income	-106.53	-111	-117.22	-121.23	-98.69	-78.42
Interest Expense	-6.72	-6.72	-4.71	-4.65	-10.04	-6.11
Interest & Investment Income	37.6	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)	-0.86	-0.86	-0.46	-0.5	-0.57	-0.32
EBT Excluding Unusual Items	-77.33	-89.04	-96.27	-111.16	-110.84	-85.9
Gain (Loss) on Sale of Investments	8.85	12.69	9.35	0.34	-	-
Pretax Income	-75.73	-83.01	-86.92	-110.82	-110.84	-85.9
Income Tax Expense	15.32	12.76	14	13.7	6.02	8.11
Net Income	-91.06	-95.77	-100.92	-124.52	-116.86	-94.01
Net Income to Common	-91.06	-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)	2.54%	2.31%	-0.13%	3.77%	11.63%	3.93%
EPS (Basic)	-0.81	-0.86	-0.92	-1.14	-1.11	-1.00
EPS (Diluted)	-0.81	-0.86	-0.92	-1.14	-1.11	-1.00
Free Cash Flow	117.74	108.51	54.32	0.48	-3.31	-15.96
Free Cash Flow Per Share	1.05	0.97	0.50	0.00	-0.03	-0.17
Gross Margin	82.29%	82.97%	85.63%	85.26%	84.78%	84.88%
Operating Margin	-18.58%	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Profit Margin	-15.88%	-17.38%	-20.22%	-26.29%	-29.95%	-32.12%
Free Cash Flow Margin	20.54%	19.69%	10.88%	0.10%	-0.85%	-5.45%
EBITDA	-95.89	-99.87	-105.52	-109.05	-87.81	-68.25
EBITDA Margin	-16.73%	-18.13%	-21.14%	-23.02%	-22.51%	-23.32%
D&A For EBITDA	10.64	11.13	11.7	12.18	10.89	10.17
EBIT	-106.53	-111	-117.22	-121.23	-98.69	-78.42
EBIT Margin	-18.58%	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Revenue as Reported	573.35	550.95	499.16	473.63	390.13	292.69

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

SEC Filings: 10-K · 10-Q