Varonis: 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $24.3 million in its second quarter.

The New York-based company said it had a loss of 77 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 15 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.

The data-management software company posted revenue of $66.6 million in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $57.1 million.

For the current quarter ending in October, Varonis expects its results to range from a loss of 14 cents per share to a loss of 11 cents per share.

The company said it expects revenue in the range of $68 million to $71 million for the fiscal third quarter.

Varonis shares have climbed 37% since the beginning of the year. In the final minutes of trading on Monday, shares hit $106.10, a rise of 46% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRNS at https://www.zacks.com/ap/VRNS