Varonis Systems Inc

VRNS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Varonis Earnings: Strong Quarter as Sales and Profitability Grow Strongly; Maintain $28 FVE

Malik Ahmed Khan

Apr 29, 2026

Varonis started 2026 strongly, with the firm's quarterly sales growing 27% to $173 million and its adjusted operating margins up 4 points to negative 1%. The firm's operating margins continue to be affected by its shift to delivering solutions through the cloud, which is near-term margin-dilutive.

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Varonis Systems Inc

Varonis Earnings: Strong Quarter as Sales and Profitability Grow Strongly; Maintain $28 FVE

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