Stock Track | Varonis Systems Slides in Pre-Market Despite Solid Q3 Results

Stock Track10-30

Shares of Varonis Systems Inc. (NASDAQ: VRNS) plunged nearly 6% in pre-market trading on Tuesday, despite the company reporting solid third-quarter results and raising its full-year guidance. The data security and analytics software provider's stock seemed to be impacted by a mixed reaction to its outlook and potential concerns about the impact of generative AI on its business.

In the third quarter, Varonis reported revenue of $148.1 million, up 21% year-over-year, driven by strong growth in its Annual Recurring Revenue (ARR), which grew 18% to $610 million. The company's SaaS offerings, including its MDDR (Metadata-Driven Data Risk) platform, were key drivers of this growth, contributing to a 43% share of total ARR.

However, Varonis' gross margin declined to 85% from 87.3% a year ago, due to a higher mix of SaaS sales and increased hosting costs. Additionally, the company's federal business underperformed expectations, prompting changes in its management team for that segment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1199178283?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-30 21:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1199178283","market":"us","top_or_hot":-1,"title":"Stock Track | Varonis Systems Slides in Pre-Market Despite Solid Q3 Results","media":"Stock Track","content":"<p>Shares of Varonis Systems Inc. (NASDAQ: VRNS) plunged nearly 6% in pre-market trading on Tuesday, despite the company reporting solid third-quarter results and raising its full-year guidance. The data security and analytics software provider's stock seemed to be impacted by a mixed reaction to its outlook and potential concerns about the impact of generative AI on its business.</p>\n\n<p>In the third quarter, Varonis reported revenue of $148.1 million, up 21% year-over-year, driven by strong growth in its Annual Recurring Revenue (ARR), which grew 18% to $610 million. The company's SaaS offerings, including its MDDR (Metadata-Driven Data Risk) platform, were key drivers of this growth, contributing to a 43% share of total ARR.</p>\n\n<p>However, Varonis' gross margin declined to 85% from 87.3% a year ago, due to a higher mix of SaaS sales and increased hosting costs. Additionally, the company's federal business underperformed expectations, prompting changes in its management team for that segment.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Varonis Systems Slides in Pre-Market Despite Solid Q3 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Varonis Systems Slides in Pre-Market Despite Solid Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-30 21:28 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Varonis Systems Inc. (NASDAQ: VRNS) plunged nearly 6% in pre-market trading on Tuesday, despite the company reporting solid third-quarter results and raising its full-year guidance. The data...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VRNS","symbol_name":"Varonis Systems, Inc.","start_time":0,"source_url":"","article_id":"1199178283","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1199178283","pubTimestamp":1730294906,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Varonis Systems Inc.  plunged nearly 6% in pre-market trading on Tuesday, despite the company reporting solid third-quarter results and raising its full-year guidance. The data security and analytics software provider's stock seemed to be impacted by a mixed reaction to its outlook and potential concerns about the impact of generative AI on its business.In the third quarter, Varonis reported revenue of $148.1 million, up 21% year-over-year, driven by strong growth in its Annual Recurri","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"VRNS":"Varonis Systems, Inc."},"translate_title":"尽管第三季度业绩稳健，股票跟踪Varonis Systems盘前下滑","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VRNS":1},"content_text":"Shares of Varonis Systems Inc. (NASDAQ: VRNS) plunged nearly 6% in pre-market trading on Tuesday, despite the company reporting solid third-quarter results and raising its full-year guidance. The data security and analytics software provider's stock seemed to be impacted by a mixed reaction to its outlook and potential concerns about the impact of generative AI on its business.\nIn the third quarter, Varonis reported revenue of $148.1 million, up 21% year-over-year, driven by strong growth in its Annual Recurring Revenue (ARR), which grew 18% to $610 million. The company's SaaS offerings, including its MDDR (Metadata-Driven Data Risk) platform, were key drivers of this growth, contributing to a 43% share of total ARR.\nHowever, Varonis' gross margin declined to 85% from 87.3% a year ago, due to a higher mix of SaaS sales and increased hosting costs. Additionally, the company's federal business underperformed expectations, prompting changes in its management team for that segment.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1199178283"}