Varonis Systems Inc. Files 2024 10-K

TL;DR

VRNS 2024 10-K filed. Full year results out.

AI Summary

Varonis Systems Inc. filed its 2024 10-K on February 6, 2025, reporting on its fiscal year ending December 31, 2024. The company, incorporated in Delaware, is based in New York and operates in the prepackaged software sector. Key financial data and operational details for the fiscal year 2024 are presented in this filing.

Why It Matters

This filing provides a comprehensive overview of Varonis Systems Inc.'s financial performance and strategic positioning for the fiscal year 2024, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new risks beyond those typical for a software company.

Key Numbers

• 112,550,156 — Shares Outstanding (Reported for the fiscal year 2024.)

Key Players & Entities

• VARONIS SYSTEMS INC (company) — Filer
• 0001361113 (company) — Central Index Key
• DE (company) — State of Incorporation
• 1250 BROADWAY, 31ST FLOOR (company) — Business Address
• NEW YORK (company) — City
• 10001 (company) — ZIP Code
• 877-292-8767 (company) — Business Phone
• 20241231 (date) — Conformed Period of Report
• 20250206 (date) — Filed as of Date

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share VRNS The NASDAQ Stock Market

Filing Documents

• vrns-20241231.htm (10-K) — 1961KB
• vrnsq4202441.htm (EX-4.1) — 24KB
• vrnsq420241020.htm (EX-10.20) — 103KB
• vrnsq420241021.htm (EX-10.21) — 101KB
• vrnsq420241022.htm (EX-10.22) — 99KB
• vrnsq420241023.htm (EX-10.23) — 104KB
• vrnsq42024191.htm (EX-19.1) — 90KB
• vrnsq42024211.htm (EX-21.1) — 10KB
• vrnsq42024231.htm (EX-23.1) — 3KB
• vrnsq42024311.htm (EX-31.1) — 12KB
• vrnsq42024312.htm (EX-31.2) — 12KB
• vrnsq42024321.htm (EX-32.1) — 8KB
• vrnsq42024322.htm (EX-32.2) — 8KB
• vrnsq4202497.htm (EX-97) — 37KB
• vrns-20241231_g1.jpg (GRAPHIC) — 113KB
• vrns-20241231_g2.jpg (GRAPHIC) — 5KB
• 0001628280-25-004187.txt ( ) — 10876KB
• vrns-20241231.xsd (EX-101.SCH) — 55KB
• vrns-20241231_cal.xml (EX-101.CAL) — 112KB
• vrns-20241231_def.xml (EX-101.DEF) — 311KB
• vrns-20241231_lab.xml (EX-101.LAB) — 787KB
• vrns-20241231_pre.xml (EX-101.PRE) — 532KB
• vrns-20241231_htm.xml (XML) — 1499KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 12 Item 1B Unresolved Staff Comments 35 Item 1C Cybersecurity 35 Item 2

Properties

Properties 36 Item 3

Legal Proceedings

Legal Proceedings 36 Item 4 Mine Safety Disclosures 36 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6 Reserved 40 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 54 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 56 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 95 Item 9A

Controls and Procedures

Controls and Procedures 95 Item 9B Other Information 96 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 96 PART III Item 10 Directors, Executive Officers and Corporate Governance 97 Item 11

Executive Compensation

Executive Compensation 97 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 97 Item 13 Certain Relationships and Related Transactions, and Director Independence 97 Item 14 Principal Accounting Fees and Services 97 PART IV Item 15 Exhibits and Financial Statement Schedules 98 Item 16 Form 10-K Summary 98 ii PART I

Business

Item 1. Business We were incorporated under the laws of the State of Delaware on November 3, 2004 and commenced operations on January 1, 2005. Our principal offices are located at 1250 Broadway, 28th Floor, New York, NY 10001. For convenience in this report, the terms "Company," "Varonis," "we" and "us" may be used to refer to Varonis Systems, Inc. and/or its subsidiaries, except where indicated otherwise. Our telephone number is (877) 292-8767. Overview Varonis is a leader in data security as, since we started operations in 2005, we recognized that an enterprise's capacity to create and share data far exceeded its capacity to protect it. We believed that rapid data growth combined with increasing information dependence would change the global economy and the risk profiles of all organizations - from corporations to governmental agencies. Our focus has been on using innovation to address the cyber-implications of these trends, creating software that provides new ways to track, alert and protect data wherever it is stored. Data continues to grow in new and existing data stores both in the cloud and on-premises, a trend we have seen accelerate as companies worldwide undergo waves of digital transformation and artificial intelligence ("AI") initiatives that have significantly impacted how they must approach data security. While the significant increase of software-as-service ("SaaS") and infrastructure-as-service ("IaaS") usage has accelerated workforce collaboration and information technology ("IT") operations, it has also created unprecedented data sprawl and complexity that have contributed to a growing number of catastrophic data breaches. We believe the adoption of generative artificial intelligence ("Gen AI") tools will dramatically compound data growth and introduce new data security challenges that can only be addressed with automation. Gen AI-powered productivity features, commonly called "copilots," are now embedded within applications such as Micro

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View this 10-K filing on SEC EDGAR