Varonis Systems Inc
VRNS- Exchange
- Nasdaq
- Industry
- Services-Prepackaged Software
- SEC CIK
- 0001361113
In the last 90 days, Varonis Systems Inc insiders filed 1 open-market purchase and 0 sales; 352 institutions reported holding it in 13F filings for Q2 2026, worth $4.67B in total; Soros Fund Management is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 5, 2026, 12:14 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $129.3M (20.7% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 3, 2026 | Feb 4, 2025 | Feb 5, 2024 | Feb 6, 2023 | Feb 7, 2022 |
| Revenue | $623.5M | $551.0M | $499.2M | $473.6M | $390.1M |
| Cost of revenue | $132.0M | $93.8M | $71.8M | $69.8M | $59.4M |
| Gross profit | $491.6M | $457.1M | $427.4M | $403.8M | $330.7M |
| Operating expenses | $638.1M | $574.8M | $544.6M | $525.0M | $429.4M |
| Research and development | $237.8M | $196.8M | $183.8M | $177.9M | $137.9M |
| Selling, general and administrative | $98.9M | $89.2M | $82.9M | $72.1M | $61.2M |
| Operating income | -$146.5M | -$117.7M | -$117.2M | -$121.2M | -$98.7M |
| Interest expense | – | – | – | – | $3.17M |
| Income tax | $13.0M | $12.8M | $14.0M | $13.7M | $6.02M |
| Net income | -$129.3M | -$95.8M | -$100.9M | -$124.5M | -$116.9M |
| EPS, basic | $-1.13 | $-0.86 | $-0.92 | $-1.14 | – |
| EPS, diluted | $-1.13 | $-0.86 | $-0.92 | $-1.14 | – |
| Weighted shares, basic | 114.4M | 111.7M | 109.1M | 109.3M | 105.3M |
| Weighted shares, diluted | 114.4M | 111.7M | 109.1M | 109.3M | 105.3M |
| Margins and growth | |||||
| Gross margin | 78.8% | 83.0% | 85.6% | 85.3% | 84.8% |
| Operating margin | -23.5% | -21.4% | -23.5% | -25.6% | -25.3% |
| Net margin | -20.7% | -17.4% | -20.2% | -26.3% | -30.0% |
| Revenue growth, year over year | +13.2% | +10.4% | +5.4% | +21.4% | +33.3% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 3, 2026 | Feb 4, 2025 | Feb 5, 2024 | Feb 6, 2023 | Feb 7, 2022 |
| Cash and equivalents | $202.5M | $185.6M | $230.7M | $367.8M | $805.8M |
| Short-term investments | $681.2M | $343.4M | $253.2M | $236.3M | $0 |
| Accounts receivable | $242.8M | $192.8M | $169.1M | $136.0M | $117.2M |
| Total current assets | $1.30B | $878.1M | $767.2M | $905.7M | $959.2M |
| Property, plant and equipment | $36.0M | $30.8M | $34.0M | $39.0M | $38.3M |
| Goodwill | $135.3M | $23.1M | $23.1M | $23.1M | $23.1M |
| Intangible assets | $16.7M | $0 | $1.26M | $2.79M | $4.31M |
| Total assets | $1.79B | $1.66B | $1.10B | $1.04B | $1.11B |
| Accounts payable | $5.74M | $4.31M | $672.0K | $2.96M | $5.32M |
| Total current liabilities | $659.0M | $709.9M | $306.8M | $228.7M | $211.8M |
| Shareholders' equity | $598.7M | $455.7M | $489.6M | $502.1M | $596.6M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 3, 2026 | Feb 4, 2025 | Feb 5, 2024 | Feb 6, 2023 | Feb 7, 2022 |
| Operating cash flow | $147.4M | $115.2M | $59.4M | $11.9M | $7.18M |
| Capital expenditures | $12.6M | $6.69M | $5.10M | $11.4M | $10.5M |
| Free cash flow | $134.8M | $108.5M | $54.3M | $475.0K | -$3.31M |
| Depreciation and amortization | $12.3M | $11.1M | $11.7M | $12.2M | $10.9M |
| Stock-based compensation | $130.2M | $126.7M | $139.8M | $142.9M | $109.8M |
| Share buybacks | $115.0M | $0 | $43.5M | $56.4M | – |
| Investing cash flow | -$837.0K | -$532.3M | -$143.1M | -$374.3M | $54.4M |
| Financing cash flow | -$129.7M | $371.9M | -$53.4M | -$75.6M | $510.1M |
| Net change in cash | $16.9M | -$45.2M | -$137.1M | -$438.0M | $571.7M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 20.9% | 23.0% | 28.0% | 30.2% | 28.1% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 30, 2026 | 115.3M | −2.2% | SEC |
| Jul 24, 2026 | 114.9M | +2.5% | SEC |
| Apr 24, 2026 | 114.8M | +2.6% | SEC |
| Jan 30, 2026 | 117.4M | +4.4% | SEC |
| Oct 24, 2025 | 117.9M | +4.8% | SEC |
| Jul 25, 2025 | 112.0M | −0.1% | SEC |
| May 2, 2025 | 111.9M | +0.4% | SEC |
| Jan 31, 2025 | 112.6M | +3.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.