Varonis: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $19.2 million in its third quarter.

On a per-share basis, the New York-based company said it had a loss of 61 cents. Earnings, adjusted for stock option expense and amortization costs, came to 6 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The data-management software company posted revenue of $76.8 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $70.1 million.

For the current quarter ending in December, Varonis expects its per-share earnings to range from 10 cents to 13 cents.

The company said it expects revenue in the range of $82 million to $85 million for the fiscal fourth quarter.

Varonis shares have increased 58% since the beginning of the year. In the final minutes of trading on Monday, shares hit $122.43, a climb of 97% in the last 12 months.

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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