VRNS
$48.72+2.92%
Varonis Systems Inc.Stock · TechnologyRussell 2000 0.1%Nasdaq Composite 0.01%Russell 3000 0.007%US Stock Market 0.006%
VRNS financial statements
The full income statement, balance sheet, and cash-flow statement for Varonis Systems Inc. (VRNS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 112.2M2024-09 112.5M2024-12 112.6M2025-03 111.9M2025-06 112.0M2025-09 117.9M2025-12 117.4M2026-03 114.8M2026-06 114.9M+2.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 624M+13.2% | 551M+10.4% | 499M+5.4% | 474M+21.4% | 390M+33.3% | |
| 492M+7.5% | 457M+6.9% | 427M+5.8% | 404M+22.1% | 331M+33.1% | ||
| Cost of revenue | 132M+40.6% | 93.8M+30.8% | 71.8M+2.7% | 69.8M+17.6% | 59.4M+34.2% | |
| 638M+11.0% | 575M+5.5% | 545M+3.7% | 525M+22.3% | 429M+31.4% | ||
| Research & development | 238M+20.9% | 197M+7.0% | 184M+3.3% | 178M+29.0% | 138M+38.8% | |
| Selling, general & administrative | 98.9M+10.9% | 89.2M+7.6% | 82.9M+15.1% | 72.1M+17.7% | 61.2M+28.7% | |
| General & administrative | 98.9M+10.9% | 89.2M+7.6% | 82.9M+15.1% | 72.1M+17.7% | 61.2M+28.7% | |
| Selling & marketing | 301M+4.4% | 289M+3.9% | 278M+1.0% | 275M+19.4% | 230M+28.0% | |
| Amortization of intangibles | 1.05M-16.6% | 1.26M-17.2% | 1.52M+0.0% | 1.52M-0.5% | 1.53M+480.7% | |
| Operating income | -147M-24.5% | -118M-0.4% | -117M+3.3% | -121M-22.8% | -98.7M-25.9% | |
| Interest expense | — | — | — | — | 3.17M+57.1% | |
| Other non-operating income | 30.2M-12.8% | 34.6M+14.3% | 30.3M+191.0% | 10.4M+185.7% | -12.1M-62.3% | |
| Pre-tax income | -116M-40.1% | -83.0M+4.5% | -86.9M+21.6% | -111M+0.0% | -111M-29.0% | |
| Income tax | 13.0M+1.9% | 12.8M-8.9% | 14.0M+2.2% | 13.7M+127.5% | 6.02M-25.8% | |
| Net income | -129M-35.0% | -95.8M+5.1% | -101M+19.0% | -125M-6.6% | -117M-24.3% | |
| -$1.13-31.4% | -$0.86+6.5% | -$0.92+19.3% | -$1.14-2.7% | -$1.11-11.0% | ||
| EPS (basic) | -$1.13-31.4% | -$0.86+6.5% | -$0.92+19.3% | -$1.14-2.7% | -$1.11-11.0% | |
| Weighted-avg shares (basic) | 114M+2.5% | 112M+2.3% | 109M-0.1% | 109M+3.8% | 105M+11.6% | |
| Weighted-avg shares (diluted) | 114M+2.5% | 112M+2.3% | 109M-0.1% | 109M+3.8% | 105M+11.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.30B+47.9% | 878M+14.5% | 767M-15.3% | 906M-5.6% | 959M+128.5% | ||
| Cash & equivalents | 202M+9.1% | 186M-19.6% | 231M-37.3% | 368M-54.4% | 806M+244.2% | |
| Short-term investments | 681M+98.4% | 343M+35.6% | 253M+7.1% | 236M | 0.00-100.0% | |
| Accounts receivable | 243M+25.9% | 193M+14.0% | 169M+24.4% | 136M+16.0% | 117M+24.4% | |
| Prepaid expenses | 135M+15.4% | 117M+81.6% | 64.3M+73.0% | 37.2M+8.1% | 34.4M+25.8% | |
| 1.79B+7.7% | 1.66B+50.8% | 1.10B+5.8% | 1.04B-5.8% | 1.11B+99.6% | ||
| Property, plant & equipment | 36.0M+17.0% | 30.8M-9.3% | 34.0M-13.0% | 39.0M+1.9% | 38.3M+3.1% | |
| Operating lease right-of-use | 57.7M+26.5% | 45.6M-12.0% | 51.8M-8.7% | 56.8M-10.9% | 63.7M+33.0% | |
| Goodwill | 135M+484.7% | 23.1M+0.0% | 23.1M+0.0% | 23.1M+0.0% | 23.1M+0.0% | |
| Intangible assets | 16.7M | 0.00-100.0% | 1.26M-54.7% | 2.79M-35.4% | 4.31M-26.2% | |
| Long-term investments | 187M-71.6% | 659M+212.2% | 211M | 0.00 | — | |
| Other non-current assets | 60.2M+116.6% | 27.8M+79.4% | 15.5M-5.2% | 16.3M-17.6% | 19.8M-8.0% | |
| Total non-current assets | 493M-37.3% | 786M+133.5% | 337M+143.9% | 138M-7.5% | 149M+10.1% | |
| 659M-7.2% | 710M+131.4% | 307M+34.1% | 229M+8.0% | 212M+16.0% | ||
| Accounts payable | 5.74M+33.0% | 4.31M+541.8% | 672K-77.3% | 2.96M-44.4% | 5.32M+526.4% | |
| Deferred revenue | 428M+47.5% | 290M+60.2% | 181M+63.8% | 111M+6.1% | 104M+5.7% | |
| Current lease liability | 9.74M-10.2% | 10.8M+7.9% | 10.0M+1.8% | 9.87M+12.3% | 8.79M+1.1% | |
| Other current liabilities | — | — | 125M+8.5% | 115M+12.7% | 102M+22.9% | |
| Deferred revenue (non-current) | 14.4M+551.6% | 2.21M+149.5% | 886K-41.1% | 1.50M-41.4% | 2.57M-7.6% | |
| Non-current lease liability | 59.7M+39.6% | 42.8M-16.6% | 51.3M-11.0% | 57.6M-16.1% | 68.7M+26.0% | |
| Operating lease liability (total) | 69.5M+29.6% | 53.6M-12.6% | 61.4M-9.1% | 67.5M-12.9% | 77.5M+22.5% | |
| Other non-current liabilities | 7.58M+117.3% | 3.49M-27.4% | 4.81M+0.8% | 4.77M+33.2% | 3.58M+19.6% | |
| Total non-current liabilities | 534M+7.1% | 499M+62.2% | 307M-1.7% | 313M+4.2% | 300M+7.7% | |
| 599M+31.4% | 456M-6.9% | 490M-2.5% | 502M-15.8% | 597M+534.2% | ||
| Common stock | 118K+4.4% | 113K+3.7% | 109K+0.9% | 108K+0.0% | 108K+13.7% | |
| Additional paid-in capital | 1.44B+21.1% | 1.19B+4.4% | 1.14B+8.3% | 1.06B+3.6% | 1.02B+157.5% | |
| Retained earnings | -869M-17.5% | -740M-14.9% | -644M-18.6% | -543M-27.1% | -428M-37.6% | |
| Accumulated other comprehensive income | 23.1M+764.4% | 2.68M+130.9% | -8.65M+9.5% | -9.56M-257.1% | 6.08M-35.1% | |
| Total liabilities & equity | 1.79B+7.7% | 1.66B+50.8% | 1.10B+5.8% | 1.04B-5.8% | 1.11B+99.6% | |
| Common shares issued | 118M+4.4% | 113M+3.2% | 109M+1.3% | 108M+0.2% | 108M+12.6% | |
| Common shares outstanding | 118M+4.4% | 113M+3.2% | 109M+1.3% | 108M+0.2% | 108M+12.6% | |
| Shares outstanding (cover) | 117M+4.4% | 113M+3.2% | 109M+1.4% | 108M+0.1% | 108M+12.6% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 147M+28.0% | 115M+93.9% | 59.4M+400.5% | 11.9M+65.4% | 7.18M+222.9% | ||
| Depreciation & amortization | 12.3M+10.6% | 11.1M-4.9% | 11.7M-3.9% | 12.2M+11.8% | 10.9M+7.1% | |
| Intangible amortization | 1.05M-16.6% | 1.26M-17.2% | 1.52M+0.0% | 1.52M-0.5% | 1.53M+480.7% | |
| Share-based compensation | 130M+2.8% | 127M-9.4% | 140M-2.1% | 143M+30.1% | 110M+60.1% | |
| Deferred income taxes | 252K+1300.0% | 18.0K-79.1% | 86.0K-66.7% | 258K-79.3% | 1.24M+229.6% | |
| Change in receivables | 52.6M+121.6% | 23.7M-28.4% | 33.1M+76.3% | 18.8M-18.1% | 22.9M+20.3% | |
| Change in payables | 1.23M-66.2% | 3.64M+259.0% | -2.29M+3.0% | -2.36M-152.8% | 4.47M+1464.0% | |
| -837K+99.8% | -532M-272.0% | -143M+61.8% | -374M-788.2% | 54.4M+199.3% | ||
| Capital expenditure | 12.6M+88.6% | 6.69M+31.3% | 5.10M-55.3% | 11.4M+8.6% | 10.5M+3.7% | |
| Free cash flow | 135M+24.2% | 109M+99.8% | 54.3M+11335.2% | 475K+114.3% | -3.31M+79.2% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Sales/maturities of investments | 365M+18.2% | 309M+2.5% | 301M+624.4% | 41.6M | — | |
| Proceeds from sale of PP&E | — | 0.00 | 0.00-100.0% | 21.0K | 0.00 | |
| -130M-134.9% | 372M+796.4% | -53.4M+29.3% | -75.6M-114.8% | 510M+126.0% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 500M | |
| Common stock repurchased | 115M | 0.00-100.0% | 43.5M-22.9% | 56.4M | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 16.9M+137.4% | -45.2M+67.1% | -137M+68.7% | -438M-176.6% | 572M+246.1% | |
| Interest paid | 7.72M+141.9% | 3.19M-0.1% | 3.20M+0.9% | 3.17M-0.0% | 3.17M+104.8% | |
| Income taxes paid | 3.58M-85.2% | 24.2M+50.7% | 16.1M+118.8% | 7.35M-13.6% | 8.51M+533.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.85B-23.0% | 5.00B+1.4% | 4.93B+87.0% | 2.64B-49.7% | 5.24B+0.7% | |
| P/S | 6.2×-31.9% | 9.1×-10.3% | 10.1×+75.4% | 5.8×-57.1% | 13.4×-24.5% | |
| P/B | 6.4×-41.4% | 11.0×-1.1% | 11.1×+123.9% | 5.0×-43.6% | 8.8×-84.1% | |
| P/FCF | 28.6×-38.0% | 46.1×-57.3% | 108.0× | — | — | |
| FCF yield | 3.5%+61.3% | 2.2%+134.3% | 0.93% | — | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: VRNS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all VRNS filings on SEC EDGAR → Not investment advice.