Varonis Systems


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Varonis Systems, Inc.: What Is The Expected Impact Of Shift to SaaS Model & Revenue Recognition Changes?


Varonis Systems, Inc. presented its first-quarter 2024 results, showcasing robust progress and potential in the evolving landscape dominated by software as a service (SaaS) transition and a focused approach to metadata[1]driven security solutions. Noteworthy in the reveal was a 17% year-over-year increase in annual recurring revenue (ARR) summing up to $560.3 million. This increment reflects sustained momentum in SaaS transition underpinned by the Managed Data Detection and Response (MDDR) service. The strategic transition to SaaS is accelerating, with a 30% representation of total ARR, entailing improved product maintenance, operational scalability, and upgradable ease.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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