Varonis Systems Inc. (VRNS) experienced a significant after-hours surge of 7.31% on Tuesday, following the release of its first-quarter financial results.
The data and AI security firm reported quarterly earnings of $0.06 per share, substantially beating the analyst consensus estimate of a loss of $0.05 per share. Revenue for the quarter reached $173.126 million, exceeding expectations of $165.505 million and representing a 26.9% increase compared to the same period last year.
The company's strong performance was driven by robust SaaS growth, with SaaS Annual Recurring Revenue (ARR) increasing 69% year-over-year. Varonis also raised its full-year SaaS ARR growth guidance and provided an optimistic outlook for the second quarter and full year 2026, citing healthy demand from both new and existing customers.