Shares of data security company Varonis Systems (NASDAQ:VRNS) jumped 8.5% in the morning session after the stock rebounded following a steep sell-off in the previous session, which followed disappointing third-quarter results and a lowered full-year forecast. The data security company’s shares had plunged significantly after it reported weak renewals in its on-premise subscription business and announced plans to cut its workforce by about 5%. However, investors appeared to be looking past the initial bad news. Despite the challenges, the company’s Annual Recurring Revenue (ARR) increased by 18% year over year to $718.6 million, with its cloud-based SaaS business showing strength. In a sign of confidence in its long-term value, Varonis's board also authorized a $150 million stock buyback program.
Shares of data security company Varonis Systems (NASDAQ:VRNS) fell 45.5% in the afternoon session after the company posted disappointing third-quarter results and cut its full-year guidance. For the third quarter, Varonis reported revenue of $161.6 million, falling short of Wall Street's expectations. While its adjusted earnings per share of $0.06 slightly beat forecasts, this was overshadowed by weakness elsewhere. The company's outlook particularly concerned investors, as its fourth-quarter revenue guidance of $168 million came in below analysts' projections. Compounding the issue, Varonis slashed its full-year adjusted earnings per share guidance by 26.5%. The combination of a current revenue miss and a weaker-than-expected forecast for future revenue and profit prompted the sharp sell-off.
Stay up-to-date with the latest market trends in the middle of the day on Wednesday. Explore the top gainers and losers during today's session in our detailed report.
Data security company Varonis Systems (NASDAQ:VRNS) fell short of the markets revenue expectations in Q3 CY2025, but sales rose 9.1% year on year to $161.6 million. Next quarter’s revenue guidance of $168 million underwhelmed, coming in 1.2% below analysts’ estimates. Its non-GAAP profit of $0.06 per share was in line with analysts’ consensus estimates.
As the regular session of the US market on Tuesday comes to an end, let's delve into the after-hours session and discover the top gainers and losers shaping the post-market sentiment.
Data security company Varonis Systems (NASDAQ:VRNS) fell short of the market’s revenue expectations in Q3 CY2025, but sales rose 9.1% year on year to $161.6 million. Next quarter’s revenue guidance of $168 million underwhelmed, coming in 1.2% below analysts’ estimates. Its non-GAAP profit of $0.06 per share was in line with analysts’ consensus estimates.
