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	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	608.68	550.95	499.16	473.63	390.13	292.69
Revenue Growth (YoY)	11.37%	10.38%	5.39%	21.40%	33.29%	15.15%
Cost of Revenue	121.47	93.85	71.75	69.84	59.4	44.26
Gross Profit	487.21	457.1	427.41	403.8	330.74	248.43
Selling, General & Admin	397.93	377.99	360.79	347.15	291.55	227.48
Research & Development	217.09	190.11	183.84	177.88	137.88	99.36
Operating Expenses	615.02	568.1	544.63	525.03	429.43	326.84
Operating Income	-127.81	-111	-117.22	-121.23	-98.69	-78.42
Interest Expense	-10.71	-6.72	-4.71	-4.65	-10.04	-6.11
Interest & Investment Income	38.97	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)	4.7	-0.86	-0.46	-0.5	-0.57	-0.32
EBT Excluding Unusual Items	-95.68	-89.04	-96.27	-111.16	-110.84	-85.9
Gain (Loss) on Sale of Investments	0.19	12.69	9.35	0.34	-	-
Pretax Income	-101.48	-83.01	-86.92	-110.82	-110.84	-85.9
Income Tax Expense	13.07	12.76	14	13.7	6.02	8.11
Net Income	-114.54	-95.77	-100.92	-124.52	-116.86	-94.01
Net Income to Common	-114.54	-95.77	-100.92	-124.52	-116.86	-94.01
Shares Outstanding (Basic)	113	112	109	109	105	94
Shares Outstanding (Diluted)	113	112	109	109	105	94
Shares Change (YoY)	2.05%	2.31%	-0.13%	3.77%	11.63%	3.93%
EPS (Basic)	-1.01	-0.86	-0.92	-1.14	-1.11	-1.00
EPS (Diluted)	-1.01	-0.86	-0.92	-1.14	-1.11	-1.00
Free Cash Flow	133.98	108.51	54.32	0.48	-3.31	-15.96
Free Cash Flow Per Share	1.19	0.97	0.50	0.00	-0.03	-0.17
Gross Margin	80.04%	82.97%	85.63%	85.26%	84.78%	84.88%
Operating Margin	-21.00%	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Profit Margin	-18.82%	-17.38%	-20.22%	-26.29%	-29.95%	-32.12%
Free Cash Flow Margin	22.01%	19.69%	10.88%	0.10%	-0.85%	-5.45%
EBITDA	-117.27	-99.87	-105.52	-109.05	-87.81	-68.25
EBITDA Margin	-19.27%	-18.13%	-21.14%	-23.02%	-22.51%	-23.32%
D&A For EBITDA	10.55	11.13	11.7	12.18	10.89	10.17
EBIT	-127.81	-111	-117.22	-121.23	-98.69	-78.42
EBIT Margin	-21.00%	-20.15%	-23.48%	-25.60%	-25.30%	-26.79%
Revenue as Reported	608.68	550.95	499.16	473.63	390.13	292.69

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

SEC Filings: 10-K · 10-Q