Varonis Announces Third Quarter 2019 Financial Results
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Varonis Systems (VRNS) Tops Q3 EPS by 18c, Revenues Beat; Offers Q4 & FY19 Revenue Guidance Below Consensus, Affirms Q4 &FY19 EPS Views
October 28, 2019 4:11 PM EDTVaronis Systems (NASDAQ: VRNS) reported Q3 EPS of ($0.16), $0.18 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $65.6 million versus the consensus estimate of $61.62 million.
Financial Summary for the Third Quarter Ended September 30, 2019
Subscription revenues were $23.3 million, or 74% of license revenues, compared with $2.5 million, or 7% of license revenues, in the third quarter of 2018.Maintenance and services revenues were $34.1 million, up 10% compared with the third quarter of 2018.Total revenues were $65.6 million, compared to $67.1 million in the third quarter of 2018, reflecting the accelerated transition to a subscription-based model and... More