Varonis Announces Second Quarter 2020 Financial Results
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Varonis Systems (VRNS) Tops Q3 EPS by 20c, Revenues Beat; Offers 4Q EPS/Revenue Guidance Above Consensus
August 3, 2020 4:14 PM EDTVaronis Systems (NASDAQ: VRNS) reported Q3 EPS of ($0.15), $0.20 better than the analyst estimate of ($0.35). Revenue for the quarter came in at $66.57 million versus the consensus estimate of $56.99 million.
Financial Summary for the Second Quarter Ended June 30, 2020
Subscription revenues increased 130% to $34.1 million, or more than 99% of total license revenues, compared with $14.8 million, or 56% of total license revenues, in the second quarter of 2019. Maintenance and services revenues were $32.2 million, compared with $33.3 million in the second quarter of 2019.Total revenues increased 12% to $66.6 million, compared to $59.6 million in the second quarter of 2019, despite the... More