Varonis Systems Reports Strong Momentum and Growth in Q1 2024 Conference Call
Tuesday, 7 May 2024, 00:45
Varonis Systems Q1 2024 Earnings Call Highlights:
- ARR grew by 17% to $560.3 million in Q1 2024.
- SaaS ARR now accounts for around 30% of total ARR.
- MDDR service exceeding expectations, driving new business and increasing deal sizes.
- Varonis well-positioned to capitalize on the current market trends and customer demand.
Varonis Systems (NASDAQ: VRNS) has reported strong momentum and growth in the first quarter of 2024 conference call. The company's successful transition to SaaS and the positive reception of the Managed Data Detection and Response (MDDR) service have led to significant improvements in Annual Recurring Revenue (ARR) and customer engagement. Varonis is poised for continued success as it leverages the momentum of MDDR and generative AI to meet the evolving needs of the market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.