Varonis Systems Inc (VRNS) financials
Varonis Systems revenue and earnings by year
Varonis Systems's revenue was $624 million in the fiscal year to December 31, 2025, up 13.2% from the year before. Net income was -$129 million, -20.7% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 15.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 624 | 551 | 499 | 474 | 390 | 293 | 254 | 270 | 215 | 166 |
| Revenue growth | 13.2% | 10.4% | 5.4% | 21.4% | 33.3% | 15.1% | -6.0% | 25.5% | 29.9% | — |
| Gross profit | 492 | 457 | 427 | 404 | 331 | 248 | 219 | 243 | 195 | 150 |
| Gross margin | 78.8% | 83.0% | 85.6% | 85.3% | 84.8% | 84.9% | 86.2% | 89.8% | 90.4% | 90.5% |
| Operating income | -147 | -118 | -117 | -121 | -99 | -78 | -76 | -29 | -13 | -12 |
| Operating margin | -23.5% | -21.4% | -23.5% | -25.6% | -25.3% | -26.8% | -29.9% | -10.8% | -6.2% | -7.2% |
| Net income | -129 | -96 | -101 | -125 | -117 | -94 | -79 | -29 | -14 | -14 |
| Net margin | -20.7% | -17.4% | -20.2% | -26.3% | -30.0% | -32.1% | -31.0% | -10.6% | -6.4% | -8.6% |
| Diluted EPS | -$1.13 | -$0.86 | -$0.92 | -$1.14 | -$1.11 | -$1.00 | -$0.87 | -$0.33 | -$0.17 | -$0.18 |
| Free cash flow | 132 | 109 | 54 | 0 | -3 | -16 | -36 | 14 | 11 | 4 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open VRNS in Markets.
How Varonis Systems makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Software As A Service | $172M | 95.4% |
| Subscription & Circulation | $4.16M | 2.3% |
| Maintenance | $4.13M | 2.3% |
See also: VRNS returns
No forecast, no recommendation. This page describes Varonis Systems Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.