VARONIS SYSTEMS INC
For the period ended Dec 31, 2025. Filed Feb 4, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 4, 2026
VRNS$48.96+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands, except share and per share data)
| Year ended | |||
|---|---|---|---|
| December 31, | |||
| 2025 | 2024 | 2023 | |
| Revenues: | |||
| SaaS | $462,595 | $208,781 | $44,417 |
| Term license subscriptions | 109,635 | 254,241 | 356,490 |
| Maintenance and services | 51,302 | 87,928 | 98,253 |
| Total revenues | 623,532 | 550,950 | 499,160 |
| Cost of revenues | 131,974 | 93,847 | 71,751 |
| Gross profit | 491,558 | 457,103 | 427,409 |
| Operating expenses: | |||
| Research and development | 237,814 | 196,765 | 183,838 |
| Sales and marketing | 301,342 | 288,769 | 277,893 |
| General and administrative | 98,916 | 89,220 | 82,901 |
| Total operating expenses | 638,072 | 574,754 | 544,632 |
| Operating loss | (146,514) | (117,651) | (117,223) |
| Financial income, net | 30,194 | 34,644 | 30,305 |
| Loss before income taxes | (116,320) | (83,007) | (86,918) |
| Income taxes | (13,004) | (12,758) | (13,998) |
| Net loss | $(129,324) | $(95,765) | $(100,916) |
| Net loss per share of common stock, basic and diluted | $(1.13) | $(0.86) | $(0.92) |
| Weighted average number of shares used in computing net loss per share of common stock, basic and diluted | 114,413,076 | 111,660,541 | 109,141,894 |
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