Varonis Q3 Revenue Rises to $189.5 Million as SaaS ARR Grows 42% to $774.6 Million
Varonis Systems, Inc. (Nasdaq: VRNS), a data and super intelligence (SI) security company, on November 3 announced financial results for the third quarter ended September 30, 2026. Total revenues were $189.5 million, compared with $161.6 million in the third quarter of 2025.
The revenue mix shows customers converting to its SaaS platform: SaaS revenues were $185.1 million, compared with $125.8 million a year earlier, while term license subscription revenues fell to $1.2 million from $24.8 million and maintenance and services revenues fell to $3.1 million from $10.9 million, with the vast majority of both declines driven by customers converting to the SaaS platform.
On profitability, the GAAP operating loss was $47.7 million, compared with a $35.9 million loss a year earlier, while non-GAAP operating income was $7.6 million, compared with $0.2 million. The GAAP net loss was $41.6 million, or $0.36 per share, compared with a net loss of $29.9 million, or $0.26 per share, a year earlier.
SaaS annual recurring revenue (ARR) was $774.6 million at the end of the quarter, up 42% year over year and up 24% excluding conversions. The company held $937.8 million in cash and cash equivalents, short-term deposits and short-term and long-term marketable securities. During the first nine months of 2026, Varonis generated $108.3 million of cash from operations and $94.8 million of free cash flow.
In light of the pending acquisition by Proofpoint, a portfolio company of Thoma Bravo, Varonis will not provide forward-looking guidance and will not conduct an earnings conference call or webcast for the quarter. The merger agreement was signed on October 15, 2026; Proofpoint previously announced its $6.3 billion all-cash acquisition of Varonis.
The Varonis platform gives organizations automated visibility and control over their critical data wherever it lives, backed by round-the-clock managed detection and response, and is used by thousands of organizations worldwide.
(Source: Varonis Systems)
Source: Varonis Systems
Published by GSM · USA (original Chinese edition)
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