Varonis Systems (VRNS) Tops Q1 EPS by 5c, Revenues Beat; Reaffirms 2Q & FY21 EPS/Revenues Guidance

Varonis Systems (NASDAQ: VRNS) reported Q1 EPS of ($0.08), $0.05 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $74.79 million versus the consensus estimate of $68.9 million.

"Our first quarter performance was strong, continuing the positive trajectory of 2020 and evidences the ongoing critical need for companies around the globe to protect their sensitive data. Secular trends which drive demand for our products have accelerated, and with our subscription offering, we are able to deliver on our customers' immediate requirements and longer-term needs," said Yaki Faitelson, Varonis CEO.

"Our customer lifetime value has increased significantly, driving revenue growth, margin expansion and cash flow generation," Mr. Faitelson continued. "Supported by a financial model which provides greater visibility and predictability, we believe we are well positioned to capitalize on these trends and are just scratching the surface of a large and growing market opportunity."

GUIDANCE:

Varonis Systems sees Q2 2021 EPS of ($0.04)-($0.03), versus the consensus of ($0.04). Varonis Systems sees Q2 2021 revenue of $82.5-84 million, versus the consensus of $82.51 million.

Varonis Systems sees FY2021 EPS of ($0.01)-$0.02, versus the consensus of $0.00. Varonis Systems sees FY2021 revenue of $365-370 million, versus the consensus of $364.82 million.

For earnings history and earnings-related data on Varonis Systems (VRNS) click here.

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