Varonis Systems, Inc. (VRNS) Financial Statements (2024 and earlier)

Company Profile

Business Address 1250 BROADWAY, 31ST FLOOR
NEW YORK, NY 10001
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments676,615529,420604,138779,480781,907804,091
Cash and cash equivalents399,196248,585367,800754,245753,172775,719
Short-term investments277,419280,835236,33825,23528,73528,372
Receivables103,66875,393143,15591,68583,92963,604
Prepaid expense   10,219   
Deposits current assets77,139226,850128,35010,8716,856 
Other undisclosed current assets47,90244,38119,79534,55733,90035,812
Total current assets:905,324876,044905,657916,593906,592903,507
Noncurrent Assets
Operating lease, right-of-use asset53,91955,69256,77258,75760,51261,351
Property, plant and equipment36,60237,64339,04338,18839,63639,495
Long-term investments and receivables      
Long-term investments      
Intangible assets, net (including goodwill)25,16025,54125,92326,30426,68527,066
Goodwill23,13523,13523,13523,13523,13523,135
Intangible assets, net (excluding goodwill)2,0252,4062,7883,1693,5503,931
Other noncurrent assets15,88816,40016,33718,66618,86220,143
Total noncurrent assets:131,569135,276138,075141,915145,695148,055
TOTAL ASSETS:1,036,8931,011,3201,043,7321,058,5081,052,2871,051,562
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities68070866,1295,9894,7574,771
Accounts payable6807082,9625,9894,7574,771
Accrued liabilities   63,167   
Deferred revenue130,727109,297110,55094,19098,36998,763
Derivative instruments and hedges, liabilities   7,447   
Other liabilities123,343107,338 109,250105,78292,560
Other undisclosed current liabilities   44,617   
Total current liabilities:254,750217,343228,743209,429208,908196,094
Noncurrent Liabilities
Long-term debt and lease obligation249,716249,339248,963307,456310,198313,632
Long-term debt, excluding current maturities249,716249,339248,963248,589248,216247,846
Liabilities, other than long-term debt61,71863,36063,9019,3166,7496,058
Deferred revenue6481,3821,5032,1252,2772,378
Other liabilities7,5055,9854,7717,1914,4723,680
Operating lease, liability53,56555,99357,62758,86761,98265,786
Total noncurrent liabilities:311,434312,699312,864316,772316,947319,690
Total liabilities:566,184530,042541,607526,201525,855515,784
Equity
Equity, attributable to parent470,709481,278502,125532,307526,432535,778
Common stock110110108110110110
Additional paid in capital1,109,0931,077,3271,055,0481,077,2801,038,2501,000,493
Accumulated other comprehensive income (loss)(18,019)(14,381)(9,557)(12,357)(7,919)2,894
Accumulated deficit(620,475)(581,778)(543,474)(532,726)(504,009)(467,719)
Total equity:470,709481,278502,125532,307526,432535,778
TOTAL LIABILITIES AND EQUITY:1,036,8931,011,3201,043,7321,058,5081,052,2871,051,562

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues115,418107,335142,617123,308111,44896,261
Cost of revenue(17,386)(17,637)(17,030)(17,198)(17,799)(17,809)
Gross profit:98,03289,698125,587106,11093,64978,452
Operating expenses(137,748)(132,814)(135,580)(131,692)(131,217)(126,537)
Operating loss:(39,716)(43,116)(9,993)(25,582)(37,568)(48,085)
Nonoperating income8,4657,7734,2702,4312,976736
Investment income, nonoperating145(300) 9281,819741
Interest and debt expense     (1,161)(1,160)
Loss from continuing operations before equity method investments, income taxes:(31,251)(35,343)(5,723)(23,151)(35,753)(48,509)
Other undisclosed income from continuing operations before income taxes     1,1611,160
Loss from continuing operations before income taxes:(31,251)(35,343)(5,723)(23,151)(34,592)(47,349)
Income tax expense(7,446)(2,961)(5,025)(5,566)(1,698)(1,414)
Loss from continuing operations:(38,697)(38,304)(10,748)(28,717)(36,290)(48,763)
Loss before gain (loss) on sale of properties:(28,717)(36,290)(48,763)
Net loss available to common stockholders, diluted:(38,697)(38,304)(10,748)(28,717)(36,290)(48,763)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(38,697)(38,304)(10,748)(28,717)(36,290)(48,763)
Comprehensive loss:(38,697)(38,304)(10,748)(28,717)(36,290)(48,763)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3,638)(4,824)2,800(4,438)(10,813)(3,189)
Comprehensive loss, net of tax, attributable to parent:(42,335)(43,128)(7,948)(33,155)(47,103)(51,952)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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