Varonis Systems Second Quarter 2024 Earnings: Beats Expectations

Varonis Systems (NASDAQ:VRNS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$130.3m (up 13% from 2Q 2023).
• Net loss: US$23.9m (loss narrowed by 38% from 2Q 2023).
• US$0.21 loss per share (improved from US$0.35 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Varonis Systems Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 36%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 17% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Varonis Systems that you should be aware of before investing here.

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