VRNS on Nasdaq

Varonis Systems

Software company based in New York City

Varonis Systems, Inc. is a software company based in Miami, Florida with R&D offices in Herzliya, Israel. The company’s Data Security Platform analyzes data, identities, and activity to find and remediate data exposure in cloud and multi-cloud environments, and in software-as-a-service (SaaS) and infrastructure-as-a-service (IaaS) applications that include AWS, Azure, Google Cloud, Salesforce, ServiceNow, and databases.3 Its shares trade on Nasdaq under the symbol VRNS.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

2005Founded1

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  • TickerVRNS on Nasdaq1
  • Industrysoftware industry1
  • HeadquartersNew York City1
  • Websitewww.varonis.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address801 Brickell Avenue, Miami, Fl 331315
  • Filer categoryLarge accelerated filer5
  • LEI549300SHIVNRRH7STS264
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 38697494
Varonis Systems image from its website
Image: varonis.com8

Varonis Systems, Inc. is a software company based in Miami, Florida with R&D offices in Herzliya, Israel. The company’s Data Security Platform analyzes data, identities, and activity to find and remediate data exposure in cloud and multi-cloud environments, and in software-as-a-service (SaaS) and infrastructure-as-a-service (IaaS) applications that include AWS, Azure, Google Cloud, Salesforce, ServiceNow, and databases.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

78.8%Gross margin9
-23.5%Operating margin9
-20.7%Net margin9
13.2%Revenue growth, 20259
-21.6%Return on equity9
$134.8MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Software As A Service brought in 74% of the revenue Varonis Systems broke down this way in fiscal 2025.

  1. Software As A Service$462.6M974%up 122% from 2024
  2. Subscription and Circulation$109.6M918%down 57% from 2024
  3. Maintenance$51.3M98%down 42% from 2024
Products and services by year
Products and services202320242025
Software As A Service$44.4M$208.8M$462.6M
Subscription and Circulation$356.5M$254.2M$109.6M
Maintenance$98.3M$87.9M$51.3M

Regions

United States brought in 71% of the revenue Varonis Systems broke down this way in fiscal 2025.

  1. United States$440.5M971%up 10% from 2024
  2. EMEA$133.6M921%up 17% from 2024
  3. Rest Of World$49.5M98%up 38% from 2024
Regions by year
Regions202320242025
United States$358.3M$400.8M$440.5M
EMEA$109.6M$114.4M$133.6M
Rest Of World$31.3M$35.8M$49.5M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue21¢$132.0M
  • Research and development38¢$237.8M
  • Other costs39¢$240.7M
  • Income tax2¢$13.0M

Out of $623.5M in revenue.9 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending9¢$12.6M
  • Share buybacks78¢$115.0M
  • Kept or used elsewhere13¢$19.8M

Out of $147.4M of cash from operations.9

Financial statements

Revenue101112139$623.5M in 2025+145% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $254.2M$254.2M20192020: $292.7M$292.7M2020+15%2021: $390.1M$390.1M2021+33%2022: $473.6M$473.6M2022+21%2023: $499.2M$499.2M2023+5%2024: $551.0M$551.0M2024+10%2025: $623.5M$623.5M2025+13%
Gross profit101112139$491.6M in 2025+124% since 2019
0$200.0M$400.0M$600.0M2019: $219.0M$219.0M20192020: $248.4M$248.4M2020+13%2021: $330.7M$330.7M2021+33%2022: $403.8M$403.8M2022+22%2023: $427.4M$427.4M2023+6%2024: $457.1M$457.1M2024+7%2025: $491.6M$491.6M2025+8%
Operating income101112139-$146.5M in 2025+93% since 2019
-$150.0M-$100.0M-$50.0M02019: -$76.0M-$76.0M20192020: -$78.4M-$78.4M2020+3%2021: -$98.7M-$98.7M2021+26%2022: -$121.2M-$121.2M2022+23%2023: -$117.2M-$117.2M2023−3%2024: -$117.7M-$117.7M2024+0%2025: -$146.5M-$146.5M2025+25%
Net income101112139-$129.3M in 2025+64% since 2019
-$150.0M-$100.0M-$50.0M02019: -$78.8M-$78.8M20192020: -$94.0M-$94.0M2020+19%2021: -$116.9M-$116.9M2021+24%2022: -$124.5M-$124.5M2022+7%2023: -$100.9M-$100.9M2023−19%2024: -$95.8M-$95.8M2024−5%2025: -$129.3M-$129.3M2025+35%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Revenues$623.5M$551.0M$499.2M
Cost of revenues$132.0M$93.8M$71.8M
Gross profit$491.6M$457.1M$427.4M
Research and development$237.8M$196.8M$183.8M
Sales and marketing$301.3M$288.8M$277.9M
General and administrative$98.9M$89.2M$82.9M
Total operating expenses$638.1M$574.8M$544.6M
Operating loss-$146.5M-$117.7M-$117.2M
Financial income, net$30.2M$34.6M$30.3M
Loss before income taxes-$116.3M-$83.0M-$86.9M
Income taxes-$13.0M-$12.8M-$14.0M
Net loss-$129.3M-$95.8M-$100.9M
Net loss per share of common stock, basic (in USD per share)-$1.13-$0.86-$0.92
Net loss per share of common stock, diluted (in USD per share)-$1.13-$0.86-$0.92
Weighted average number of shares used in computing net loss per share of common stock, basic (in shares)114.4M shares111.7M shares109.1M shares
Weighted average number of shares used in computing net loss per share of common stock, diluted (in shares)114.4M shares111.7M shares109.1M shares

Compare Varonis Systems with another company

Corporate structure

Varonis Systems sits at the top of its group. 12 entities, 12 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Varonis Systems

  • Varonis Systems New York, New York, United States
    • Varonis (UK) Limited Subsidiary · United Kingdom
    • Varonis France SAS Subsidiary · France
    • Varonis Singapore PTE. LTD. Subsidiary · Singapore
    • Varonis Systems (Australia) Pty Ltd Subsidiary · Australia
    • Varonis Systems (Deutschland) GmbH Subsidiary · Germany
    • Varonis Systems (India) Private Limited Subsidiary · India
    • Varonis Systems (Ireland) Limited Subsidiary · Ireland
    • Varonis Systems (Luxemburg) S.à r.l. Subsidiary · Luxembourg
    • Varonis Systems (Netherlands) B.V. Subsidiary · Netherlands
    • Varonis Systems (Poland) LLC Subsidiary · Poland
    • Varonis Systems Japan K.K. Subsidiary · Japan

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Varonis Systems reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$92.3M9 Dec 31, 2025$82.1M9 Dec 31, 2024+12.4%
Accumulated depreciation$56.2M9 Dec 31, 2025$51.3M9 Dec 31, 2024+9.7%
Property and equipment, net$36.0M9 Dec 31, 2025$30.8M9 Dec 31, 2024+17.0%
Operating-lease assets (leased space)$57.7M9 Dec 31, 2025$45.6M9 Dec 31, 2024+26.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$202.5M9 Dec 31, 2025$185.6M9 Dec 31, 2024+9.1%
Marketable securities, current$681.2M9 Dec 31, 2025$343.4M9 Dec 31, 2024+98.4%
Marketable securities, non-current$187.2M9 Dec 31, 2025$658.9M9 Dec 31, 2024−71.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$135.3M9 Dec 31, 2025$23.1M9 Dec 31, 2024+484.7%
Intangible assets, net (excluding goodwill)$16.7M9 Dec 31, 2025$09 Dec 31, 2024
Finite-lived intangibles, gross$17.7M9 Dec 31, 2025$6.1M12 Dec 31, 2023+190.3%
Accumulated amortization$1.1M9 Dec 31, 2025$4.8M12 Dec 31, 2023−78.3%
Finite-lived intangibles, net$16.7M9 Dec 31, 2025$1.3M12 Dec 31, 2023+1221.2%

Properties, in its own words

We have offices in Herzliya, Israel where we employ the majority of our research and development team and a portion of our support and general and administrative teams. We also have offices in North Carolina and Cork, Ireland which serve as our primary U.S. and EMEA customer support and inside sales center, respectively. Additionally, we have offices in New York and Florida and smaller offices in the United Kingdom, Arizona, France, Oregon, Australia, Germany, the Netherlands, Singapore and Luxembourg which serve as regional sales offices and some of which are customer support centers. Our office space is primarily leased, the majority of which is under long-term leases with varying expiration dates. We believe that our facilities are adequate to meet our needs in the near future.

Item 2 of the 10-K filed Feb 4, 2026.17

The story

Varonis Systems was founded in 2005 by Yaki Faitelson and Ohad Korkus to address security issues such as file activity tracking, information rights management, and access control. Prior to Varonis, Faitelson and Korkus worked at the global professional services and systems integration divisions of NetVision and NetApp.

Faitelson and Korkus invented a solution that would retrieve metadata contained in file systems. In 2005, Faitelson and Korkus filed a patent, “Automatic management of storage access control", which was granted in 2006.

Varonis IPO'ed on Nasdaq with the ticker symbol VRNS on February 28, 2014. Varonis raised capital from Accel Partners, Evergreen Venture Partners, Pitango Venture Capital, and EMC.

In 2021, Varonis Systems announced that it was expanding its operations and doubling its workforce in Cork.

In 2022 Varonis announced it would deliver its Data Security Platform as a SOC® 2-compliant SaaS, citing faster updates and improved features.

In 2023, Varonis added generative AI to its SaaS platform, allowing administrators to analyze and reduce investigation times.

In 2024, Varonis began supporting Microsoft Copilot with a solution that monitors and audits Copilot prompts and data access in real-time and detects abnormal interactions to identify those with malign intent or those without malign intent that yielded undesirable outcomes. Also that year, Varonis expanded its portfolio of products that monitor data access and detect potential breaches to offer a managed service to detect and respond to incidents.

In September 2024, the company announced new capabilities in its Salesforce Security Posture Management (SSPM) solution aimed at helping customers identify and eliminate data security risks automatically.

Read the full text

In November 2024, Varonis announced that it would be expanding its IaaS security coverage to the Google Cloud. The company’s 2024 10-K reported customers in 95 countries and a Q1 2025 relocation of its headquarters to Miami, Florida. In February 2025 it was reported that the company was set to accelerate and complete its SaaS transition by 2026, with a target of $737-$745 million ARR.

In 2025, Varonis introduced database activity monitoring capabilities and an anti-phishing product that uses a sandbox environment to identify malicious links in email.

Acquisitions

In 2020 the company made its first acquisition, Polyrize, a company that tracks users and the cloud data stores they use and gives them the ability to track where data is going.

In January 2025 the Calcalist reported Varonis was in advanced negotiations to acquire cyber startup Apex Security, whose investors include Sam Altman, founder and CEO of OpenAI, as well as the venture capital funds Sequoia and Index. The value of the deal was estimated at $30–40 million.

In March 2025, Varonis announced that it would be acquiring Cyral to improve database security using cloud-native, AI-driven technology.

Varonis acquired California-based start-up SlashNext, developer of an email security tool that uses AI to prevent phishing attacks, for $150 million in September 2025.

In February 2026, the company acquired AI start-up AllTrue.ai, which developed technology for monitoring and controlling AI, for $150 million.

From Wikipedia’s article on Varonis Systems, shared under CC BY-SA 4.0.6

Leadership

Who has led Varonis Systems, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (18)

Products and brands

Threat research

Varonis Threat Labs created a proof-of-concept called Cookie Bite that showed how access to Azure cloud could be obtained using persistent authorization session cookies that were capable of bypassing MFA requirements.

In December 2025, Varonis researchers reported Spiderman, an automated phishing campaign kit that mimics the login pages of multiple European banks.

In January 2026, Varonis' research unit disclosed a vulnerability called "Reprompt" in Microsoft Copilot Personal that could allow attackers to trick the AI tool into retrieving sensitive data using a "try twice" command.

Technology and Architecture

Varonis performs User Behavior Analytics (UBA) that identifies abnormal behavior from cyberattacks. Their software extracts metadata from an enterprise's IT infrastructure and uses this information to map relationships among employees, data objects, content, and usage. Through its Atlas platform, the company inventories and secures AI tools and systems to prevent data breaches, identify anomalous activity, and aid in compliance.

From Wikipedia’s article on Varonis Systems, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Varonis (UK) Limited England7
  • Varonis France SAS France7
  • Varonis Singapore PTE. LTD. Singapore7
  • Varonis Systems (Australia) Pty Ltd Australia7
  • Varonis Systems (Deutschland) GmbH Germany7
  • Varonis Systems (India) Private Limited India7
  • Varonis Systems (Ireland) Limited Ireland7
  • Varonis Systems (Luxemburg) S.à r.l. Luxembourg7
  • Varonis Systems (Netherlands) B.V. Netherlands7
  • Varonis Systems (Poland) LLC Poland7
  • Varonis Systems Corp. Canada (British Columbia)7
  • Varonis Systems Japan K.K. Japan7
  • Varonis Systems Ltd. Israel7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 15, 20268-K Entered a material agreement; Executive or director change; Regulation FD disclosure39
  2. Jul 28, 20268-K Results of operations40
  3. Jun 2, 20268-K Executive or director change; Shareholder vote41
  4. Apr 28, 20268-K Results of operations42
  5. Feb 3, 20268-K Results of operations43
  6. Oct 28, 20258-K Results of operations44
  7. Sep 2, 20258-K Regulation FD disclosure45
  8. Jul 29, 20258-K Results of operations46
  9. Jun 6, 20258-K Executive or director change; Shareholder vote47
  10. May 6, 20258-K Results of operations48
  11. Feb 14, 20258-K Other events49
  12. Feb 4, 20258-K Results of operations50
  13. Feb 27, 2014New chief executive Yakov Faitelson becomes CEO18
  14. 2005Founded Founded1

Calendar

Coming up

  1. Oct 27, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.20) a share, on Oct 28, 2025.51

When it reported results

  1. Jul 28, 2026Reported quarterly or annual results40
  2. Apr 28, 2026Reported quarterly or annual results42
  3. Feb 3, 2026Reported quarterly or annual results43
  4. Oct 28, 2025Reported quarterly or annual results44
  5. Jul 29, 2025Reported quarterly or annual results46
  6. May 6, 2025Reported quarterly or annual results48
  7. Feb 4, 2025Reported quarterly or annual results50
  8. Oct 29, 2024Reported quarterly or annual results52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

304 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 32 major events, 184 insider forms, 18 large holders, 50 other. The latest 20:

  1. Oct 15, 2026DEFA14A CURRENT REPORT EDGAR
  2. Oct 15, 20268-K CURRENT REPORT EDGAR
  3. Jul 29, 202610-Q EDGAR
  4. Jul 29, 2026S-8 REGISTRATION STATEMENT EDGAR
  5. Jul 28, 20268-K EDGAR
  6. Jun 2, 20264 EDGAR
  7. Jun 2, 20268-K EDGAR
  8. May 22, 20264 EDGAR
  9. May 1, 20264 EDGAR
  10. May 1, 20264 EDGAR
  11. May 1, 20264 EDGAR
  12. May 1, 20264 EDGAR
  13. May 1, 20264 EDGAR
  14. May 1, 20264 EDGAR
  15. May 1, 20264 EDGAR
  16. May 1, 20264 EDGAR
  17. May 1, 20264 EDGAR
  18. May 1, 20264 EDGAR
  19. Apr 30, 2026SCHEDULE 13G EDGAR
  20. Apr 29, 2026SCHEDULE 13G EDGAR

The 304 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

54 open-market trades by officers, directors and large owners since October 2021: 16 buys and 38 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 9, 2026Faitelson YakovCEO, President, ChairmanBuy26,725$22.41$598.9KForm 4
Feb 9, 2026Bass DavidEVP Engineering & CTOBuy2,980$23.47$69.9KForm 4
Feb 6, 2026GAVIN JOHN J JRDirectorBuy5,000$22.54$112.7KForm 4
Feb 6, 2026Kess Avrohom J.DirectorBuy17,800$22.29$396.8KForm 4
Aug 29, 2025Melamed GuyCFO and COOSale1,500$59.59$89.4KForm 4
Aug 28, 2025Melamed GuyCFO and COOSale3,892$59.52$231.7KForm 4
Aug 22, 2025Melamed GuyCFO and COOSale10,400$59.53$619.1KForm 4
Aug 13, 2025Melamed GuyCFO and COOSale42,705$57.72$2.5MForm 4
Aug 1, 2025Melamed GuyCFO and COOSale51,889$55.10$2.9MForm 4
Aug 1, 2025VAN DEN BOSCH FREDDirectorSale3,000$55.08$165.2KForm 4
Jun 4, 2025VAN DEN BOSCH FREDDirectorSale6,000$50.00$300.0KForm 4
Nov 13, 2024Melamed GuyCFO and COOSale91,345$53.70$4.9MForm 4
Oct 15, 2024O'Boyle JamesVice Chairman - SalesSale50,000$59.76$3.0MForm 4
Aug 6, 2024O'Boyle JamesVice Chairman - SalesSale75,000$51.04$3.8MForm 4
May 10, 2024Faitelson YakovCEO, President, ChairmanSale47,457$44.53$2.1MForm 4
May 9, 2024Faitelson YakovCEO, President, ChairmanSale284,211$45.23$12.9MForm 4
Feb 29, 2024Iohan GiliDirectorSale19,500$50.54$985.5KForm 4
Feb 12, 2024Kess Avrohom J.DirectorBuy230$51.75$11.9KForm 4
Feb 9, 2024Bass DavidEVP Engineering & CTOSale13,675$51.58$705.3KForm 4
Feb 9, 2024Segev OferDirectorSale5,000$52.13$260.6KForm 4

All 54 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Yakov Faitelson50$560.0K$14.4M59
2025Executive VicePresident of Engineering and Chief Technology Officer$514.1K$7.0M59
2025Guy Melamed$400.0K$6.5M59
2025Gregory PomeroySenior Vice President Worldwide Sales$350.0K$3.9M59
2025Dov Gottlieb$500.0K$2.7M59
2024Chief Executive Officerand President$560.0K$14.5M59
2024Chief Financial Officer and Chief Operating Officer$400.0K$6.6M59
2024Executive VicePresident of Engineering and Chief Technology Officer$333.0K$6.4M59
2024Vice PresidentGeneral Counsel and Corporate Secretary$500.0K$2.7M59
2023Chief Executive Officerand President$560.0K$14.1M59
2023Executive VicePresident of Engineering and Chief Technology Officer$334.7K$5.9M59
2023Chief Financial Officer and Chief Operating Officer$400.0K$5.5M59
2023Vice PresidentGeneral Counsel and Corporate Secretary$500.0K$3.4M59

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.12,789,273$536.6M0.0%+1,484,140
Vanguard Portfolio Management LLC7,565,214$317.4M0.0%+82,099
Vanguard Capital Management LLC4,986,423$209.2M0.0%−114,091
Tremblant Capital Group3,749,840$157.3M4.5%+170,172
Voya Investment Management LLC3,719,587$156.1M0.1%+1,305,978
Jacobs Levy Equity Management, Inc3,331,623$139.8M0.5%+749,476
First Trust Advisors LP3,198,578$134.2M0.1%+394,591
Neuberger Berman Group LLC3,112,411$130.2M0.1%+945,997
State Street Corp3,062,788$128.5M0.0%+154,191
Geode Capital Management, LLC2,995,352$125.7M0.0%+111,220
Arrowstreet Capital, Limited Partnership2,949,436$123.8M0.1%+1,539,949
BNP PARIBAS ASSET MANAGEMENT Holding S.A.2,416,864$101.4M0.1%+260,286
Clearbridge Investments, LLC2,335,072$98.0M0.1%−25,735
Nomura Asset Management International Inc.2,270,501$95.3M0.1%+115,570
American Capital Management Inc2,241,704$94.1M4.2%−86,675
Stephens Investment Management Group LLC2,158,912$90.6M1.0%+166,152
Goldman Sachs Group Inc1,888,868$79.3M0.0%−311,173
Jpmorgan Chase & Co1,734,551$70.0M0.0%+305,339
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.1,613,598$67.7M0.1%+41,664
Cadian Capital Management, LP1,585,693$66.5M5.0%New
Aqr Capital Management LLC1,575,917$66.1M0.0%+464,492
Nuveen, LLC1,471,371$61.7M0.0%+1,168,909
Principal Financial Group Inc1,296,694$54.4M0.0%−106,372
Fmr LLC1,280,816$53.7M0.0%+167,428
Senvest Management, LLC1,270,877$53.3M1.6%−178,066

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 24, 2019Donna Shalala, HouseSale$1,001 - $15,000+32.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Varonis Systems is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARVARONIS SYSTEMS INC2
  • CIK0001361113
  • Employer ID (EIN)57-122228017
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address801 Brickell Avenue, Miami, FL 331312
  • Phone877-292-87672
  • Shares outstanding114,860,485 as of Jul 24, 202615
  • Public float$5.6B as of Jun 30, 202517
  • AuditorKOST FORER GABBAY & KASIERER, Tel-Aviv, Israel PCAOB ID 1281; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceApr 19, 20062
  • Filings924 in all: 4 (583), 8-K (83), 10-Q (38), SC 13G/A (37), 3 (28), 144 (25), S-8 (18), SC 13G (17)2
    All 32 form types

    DEFA14A (15), 10-K (12), DEF 14A (12), 4/A (8), CORRESP (6), UPLOAD (6), S-1/A (5), ARS (4), REGDEX (4), 5 (3), D (3), SCHEDULE 13G/A (3), 424B5 (2), SCHEDULE 13G (2), 3/A (1), 424B4 (1), 8-A12B (1), CERTNAS (1), CT ORDER (1), DRS (1), DRS/A (1), EFFECT (1), S-1 (1), S-3ASR (1)

  • Latest filingsAnnual report (10-K) Feb 4, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Apr 17, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareVRNSThe NASDAQ Stock Market LLC

From the cover page of the 10-K filed Feb 4, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Varonis Systems names in Item 1A of its 10-K filed Feb 4, 2026: 54 risks under these headings, as written.17

  • Risks Related to the Industry in which we Operate
  • The market for software that analyzes, secures, governs, manages and migrates enterprise data may not continue to grow or grow at the same pace.
  • Prolonged economic uncertainties or downturns could materially adversely affect our business.
  • We may face increased competition in our market.
  • We are subject to a number of legal requirements, contractual obligations and industry standards regarding security, data protection and privacy, and any failure to comply with these requirements, obligations or standards could have an adverse effect on our reputation, business, financial condition and operating results.
  • Risks Related to Our Operations
  • Security breaches, cyberattacks or other cyber-risks of our IT and production systems could expose us to significant liability and cause our business and reputation to suffer and harm our competitive position.
  • The expansion of cloud-delivered services introduces a number of risks and uncertainties, which could adversely affect our business, results of operations and financial condition.
  • We may not be able to predict renewal or conversion rates and their impact on our future revenues and operating results.
  • Our quarterly results of operations have fluctuated and may fluctuate significantly due to variability in our revenues which could adversely impact our stock price.
  • If we do not successfully optimize and manage our predominantly SaaS‑based business model, or if the remaining transition away from self‑hosted products fails to progress as expected, our results of operations could be negatively impacted.
  • Our results of operations could be negatively affected by foreign currency exposures.
The other 44 risks
  • We have been growing and expect to continue to invest in our growth for the foreseeable future. If we fail to manage this growth effectively, our business and results of operations will be adversely affected.
  • We have a limited operating history at our current scale, which makes it difficult to evaluate and predict our future prospects and may increase the risk that we will not be successful.
  • If we are unable to attract new customers and expand sales to existing customers, both domestically and internationally, our growth could be slower than we expect, and our business may be harmed.
  • We have a history of losses, and we may not be profitable in the future.
  • If we are unable to maintain successful relationships with our channel partners, our business could be adversely affected.
  • Our long-term growth depends, in part, on being able to continue to expand internationally on a profitable basis, which subjects us to risks associated with conducting international operations.
  • We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in international markets.
  • Our business in countries with a history of corruption and transactions with foreign governments increase the risks associated with our international activities.
  • Acquisitions could disrupt our business and adversely affect our results of operations, financial condition and cash flows.
  • We are exposed to collection and credit risks, which could impact our operating results.
  • Our business is highly dependent upon our brand recognition and reputation, and the failure to maintain or enhance our brand recognition or reputation may adversely affect our business.
  • Our success depends in part on maintaining, converting to SaaS and increasing our sales to customers in the public sector.
  • Risks Related to Human Capital
  • Talent acquisition and retention challenges could adversely affect our growth and operational performance.
  • We are dependent on the continued services and performance of our co-founder, Chief Executive Officer and President, the loss of whom could adversely affect our business.
  • Risks Related to our Technology, Products, Services and Intellectual Property
  • Our failure to continually enhance and improve our technology could adversely affect sales of our products.
  • If our technical support, customer success or professional services are not satisfactory to our customers, they may not renew their agreements or not buy additional products in the future, which could adversely affect our future results of operations.
  • Interruptions or performance problems, including associated with our website or support website or any caused by cyberattacks, may adversely affect our business.
  • If our software is perceived as not being secure, customers may reduce the use of or stop using our software, and we may incur significant liabilities.
  • Our use of open source software could negatively affect our ability to sell our software and subject us to possible litigation.
  • False detection of security breaches, false identification of malicious sources or misidentification of sensitive or regulated information could adversely affect our business.
  • Failure to protect our proprietary technology and intellectual property rights could substantially harm our business.
  • Assertions by third parties of infringement or other violations by us of their intellectual property rights, whether or not correct, could result in significant costs and harm our business and operating results.
  • Risks Related to our Tax Regime
  • Our tax rate may vary significantly depending on our stock price.
  • Multiple factors may adversely affect our ability to fully utilize our net operating loss carryforwards.
  • Changes in our provision for income taxes or adverse outcomes resulting from examination of our income tax returns could adversely affect our results.
  • The adoption of the U.S. tax reform and the enactment of additional legislation changes could materially impact our financial position and results of operations.
  • Risks Related to the 2029 Notes
  • We have incurred substantial indebtedness that may decrease our business flexibility, access to capital, and/or increase our borrowing costs, and we may still incur substantially more debt, which may adversely affect our operations and financial results.
  • Our debt obligations may adversely affect our ability to raise additional capital and will be a burden on our future cash resources, particularly if we elect to settle these obligations in cash upon conversion or upon maturity or required repurchase.
  • We may issue additional shares of our common stock in connection with conversions of the 2029 Notes, and thereby dilute our existing stockholders and potentially adversely affect the market price of our common stock.
  • The fundamental change provisions of the 2029 Notes may delay or prevent an otherwise beneficial takeover attempt of us.
  • The Capped Call Transactions may affect the value of the 2029 Notes and our common stock.
  • We are subject to counterparty risk with respect to the Capped Call Transactions.
  • Risks Related to our International Operations
  • We face risks associated with operating in international markets that may limit our ability to develop and sell our products, which could result in a decrease of our revenues.
  • The tax benefits available to our Israeli subsidiary terminated in 2020 and we expect our Israeli subsidiary to become subject to an increase in taxes.
  • Risks Related to the Ownership of our Common Stock
  • Substantial future sales of shares of our common stock could cause the market price of our common stock to decline.
  • Our stock price has been and will likely continue to be volatile.
  • We do not intend to pay dividends on our common stock, so any returns will be limited to the value of our stock.
  • Anti-takeover provisions in our charter documents and under Delaware law and provisions in the indentures for our Notes could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management, thereby depressing the trading price of our common stock and Notes.
  • General Risks Factors
  • Real or perceived errors, failures or bugs in our software could adversely affect our growth prospects.
  • We may require additional capital to support our business growth, and this capital might not be available on acceptable terms, or at all.
  • Changes in financial accounting standards may adversely impact our reported results of operations.
  • If securities or industry analysts do not publish research or reports about our business, or publish negative reports about our business, our stock price and trading volume could decline.
  • We are obligated to develop and maintain proper and effective internal control over financial reporting. These internal controls may not be determined to be effective, which may adversely affect investor confidence in our company and, as a result, the value of our common stock.
  • Future sales and issuances of our capital stock or rights to purchase capital stock could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to decline.

Legal proceedings

The information required by this Item is incorporated herein by reference to Part II, Item 8. “Financial Statements and Supplementary Data,” Note 2m, “Contractual Purchase Obligations and Contingent Liabilities” of our accompanying Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.17

Sources

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