VARONIS SYSTEMS INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $623.5M | $551.0M | $499.2M | $473.6M | $390.1M |
| Cost of revenue | $132.0M | $93.8M | $71.8M | $69.8M | $59.4M |
| Gross profit | $491.6M | $457.1M | $427.4M | $403.8M | $330.7M |
| Research and development | $237.8M | $196.8M | $183.8M | $177.9M | $137.9M |
| Operating expenses | $638.1M | $574.8M | $544.6M | $525.0M | $429.4M |
| Operating income | -$146.5M | -$117.7M | -$117.2M | -$121.2M | -$98.7M |
| Pretax income | -$116.3M | -$83.0M | -$86.9M | -$110.8M | -$110.8M |
| Income tax expense | $13.0M | $12.8M | $14.0M | $13.7M | $6.0M |
| Net income | -$129.3M | -$95.8M | -$100.9M | -$124.5M | -$116.9M |
| Balance Sheet | |||||
| Cash and equivalents | $202.5M | $185.6M | $230.7M | $367.8M | $805.8M |
| Current assets | $1.3B | $878.1M | $767.2M | $905.7M | $959.2M |
| Total assets | $1.8B | $1.7B | $1.1B | $1.0B | $1.1B |
| Current liabilities | $659.0M | $709.9M | $306.8M | $228.7M | $211.8M |
| Stockholders' equity | $598.7M | $455.7M | $489.6M | $502.1M | $596.6M |
| Cash Flow Statement | |||||
| Cash from operations | $147.4M | $115.2M | $59.4M | $11.9M | $7.2M |
| Depreciation and amortization | $12.3M | $11.1M | $11.7M | $12.2M | $10.9M |
| Stock-based compensation | $130.2M | $126.7M | $139.8M | $142.9M | $109.8M |
| Capital expenditure | $12.6M | $6.7M | $5.1M | $11.4M | $10.5M |
| Free cash flow | $134.8M | $108.5M | $54.3M | $475,000 | -$3.3M |
| Share repurchases | $115.0M | $0 | $43.5M | $56.4M | $0 |
| Impairments | $0 | $0 | $0 | — | — |
Shares outstanding 114.8M · Free float 93.6%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.