Varonis Systems, Inc. (VRNS)

Varonis Systems Cash Flow 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	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-114.54	-95.77	-100.92	-124.52	-116.86	-94.01
Depreciation & Amortization	10.55	11.13	11.7	12.18	10.89	10.17
Other Amortization	57.36	56.54	54.59	50.85	21.02	17.2
Loss (Gain) From Sale of Assets	-	-	-	-0.02	-	-
Asset Writedown & Restructuring Costs	-	6.65	-	-	-	-
Loss (Gain) From Sale of Investments	-0.19	-12.69	-9.35	-0.34	-	-
Stock-Based Compensation	130.23	126.68	139.82	142.86	109.78	68.59
Other Operating Activities	9.92	9.53	9.47	9.31	8.23	8.74
Change in Accounts Receivable	-27.1	-23.72	-33.14	-18.8	-22.95	-19.08
Change in Accounts Payable	3.58	3.64	-2.29	-2.36	4.47	-0.33
Change in Unearned Revenue	123.29	110.39	69.88	5.27	5.42	-0.17
Change in Other Net Operating Assets	-46.08	-77.18	-80.35	-62.55	-12.82	3.05
Operating Cash Flow	147.02	115.2	59.42	11.87	7.18	-5.84
Operating Cash Flow Growth	45.03%	93.89%	400.51%	65.38%	-	-
Capital Expenditures	-13.04	-6.69	-5.1	-11.4	-10.49	-10.12
Sale of Property, Plant & Equipment	-	-	-	0.02	-	-
Cash Acquisitions	-123.51	-	-	-	-	-29.37
Sale (Purchase) of Intangibles	-2.51	-6.65	-	-	-	-
Investment in Securities	-17.11	-518.91	-137.98	-362.88	64.87	-15.26
Investing Cash Flow	-156.17	-532.26	-143.08	-374.25	54.38	-54.75
Long-Term Debt Issued	-	449.64	-	-	-	245.31
Net Debt Issued (Repaid)	-0.6	449.64	-	-	-	245.31
Issuance of Common Stock	14.35	16.08	11.54	11.94	511.16	10.3
Repurchase of Common Stock	-129.46	-38.3	-64.94	-87.52	-1.04	-0.5
Other Financing Activities	-	-55.52	-	-	-	-29.35
Financing Cash Flow	-115.71	371.9	-53.4	-75.58	510.11	225.75
Net Cash Flow	-124.86	-45.16	-137.06	-437.96	571.67	165.16
Free Cash Flow	133.98	108.51	54.32	0.48	-3.31	-15.96
Free Cash Flow Growth	38.30%	99.76%	11335.16%	-	-	-
Free Cash Flow Margin	22.01%	19.69%	10.88%	0.10%	-0.85%	-5.45%
Free Cash Flow Per Share	1.19	0.97	0.50	0.00	-0.03	-0.17
Cash Interest Paid	7.73	3.19	3.2	3.17	3.2	1.55
Cash Income Tax Paid	20.96	24.25	16.09	7.35	8.51	1.34
Levered Free Cash Flow	228.94	184.23	143.02	110.22	53.54	28.94
Unlevered Free Cash Flow	232.28	186.28	144.45	111.64	52.94	28.66
Change in Working Capital	53.7	13.13	-45.89	-78.44	-25.88	-16.52

Updated Oct 28, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q