VRNS
Varonis Systems, Inc.
VRNS lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
VRNS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Healthy | |
| Unavailable |
VRNS's revenue and cash flow are currently healthy, but its profitability is weak. There isn't enough data to rate its balance sheet.
VRNS PE Valuation
VRNS has no meaningful PE right now: it lost money over the past year.
VRNS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for VRNS, with profitability improving. However, they disagree widely on these estimates.
VRNS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.36 | — |
| Q3 2026 | -$1.32 | -$0.30 |
| Q2 2026 | -$1.22 | -$0.30 |
| Q1 2026 | -$1.13 | -$0.32 |
| Q4 2025 | -$1.13 | -$0.27 |
| Q3 2025 | -$1.02 | -$0.27 |
| Q2 2025 | -$0.92 | -$0.12 |
| Q1 2025 | -$0.81 | +$0.13 |
| Q4 2024 | -$0.86 | +$0.06 |
VRNS lost $1.32 per share over the past year, a bigger loss than the year before.
VRNS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $189.5M | +17% |
| Q2 2026 | $180M | +18% |
| Q1 2026 | $173.1M | +27% |
| Q4 2025 | $173.4M | +9.4% |
| Q3 2025 | $161.6M | +9.1% |
| Q2 2025 | $152.2M | +17% |
| Q1 2025 | $136.4M | +20% |
| Q4 2024 | $158.5M | +2.9% |
VRNS's revenue has grown year over year for 12 quarters in a row: $189M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -25% | -2.9 points |
| Q2 2026 | -23% | +1.4 points |
| Q1 2026 | -26% | +6.4 points |
| Q4 2025 | -17% | -6.4 points |
| Q3 2025 | -22% | -6.3 points |
| Q2 2025 | -24% | -1.9 points |
| Q1 2025 | -32% | +9.7 points |
| Q4 2024 | -11% | -7.7 points |
VRNS's operating margin was −25% last quarter, down 2.9 points from the same quarter a year ago.
VRNS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $26.6M | -13% |
| Q2 2026 | $20.7M | +15% |
| Q1 2026 | $50.1M | -24% |
| Q4 2025 | $20.7M | +4.1% |
| Q3 2025 | $30.4M | +43% |
| Q2 2025 | $18M | +65% |
| Q1 2025 | $65.7M | +16% |
| Q4 2024 | $19.9M | +140% |
VRNS generated $118M in free cash flow over the past year, down 12% from the year before.
VRNS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +180K shares |
| 1 year | 0% | +24.1K shares |
| 3 years | +5.1% | +5.6M shares |
| 5 years | +7.4% | +8M shares |
| Available history | +27% | +24.2M shares |
VRNS has 115M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $135M |
| Q4 2025 | $15M |
| Q3 2025 | — |
| Q2 2025 | $38.7M |
| Q1 2025 | $61.3M |
| Q4 2024 | — |
VRNS spent $150M buying back its own shares over the past year, up 50% from the year before.
VRNS Net Leverage
VRNS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
VRNS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.7 | Neutral |
| Stochastic | 86.9 | Overbought |
VRNS's weekly RSI is 63 (neutral) and its Stochastic is 87 (overbought).
VRNS PE vs Technology Sector
VRNS has no meaningful PE right now: it lost money over the past year.
VRNS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $48.5 | 1.1% above |
| 20 week MA | $46.1 | 6.5% above |
| 50 week MA | $35.7 | 37% above |
| 100 week MA | $41.6 | 18% above |
| 200 week MA | $40.6 | 21% above |
VRNS is in an uptrend: it's above all five of its weekly moving averages, and 21% above its 200-week average.
VRNS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $26.2 | $56.7 | +117% |
| 2021 | $56.7 | $49.2 | -13% |
| 2022 | $49.2 | $23.4 | -52% |
| 2023 | $23.4 | $45.3 | +93% |
| 2024 | $45.3 | $45.0 | -0.7% |
| 2025 | $45.0 | $33.6 | -25% |
| 2026 YTD | $33.6 | $49.1 | +46% |
VRNS's yearly returns have swung widely, from +117% in 2020 to −52% in 2022. It's up 46% so far in 2026.