Varonis Systems (VRNS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Varonis published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Varonis reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• On October 15, 2026, Varonis agreed to be acquired by Proofpoint, a portfolio company of Thoma Bravo, for $49.75 per share in cash. Because of the pending deal, Varonis gave no outlook and held no earnings call for Q3 2026. The merger is expected to close in the first half of 2027.
• Varonis is moving customers from term licenses to its SaaS platform, so term license and maintenance revenue are falling by design. Varonis says the vast majority of both declines came from customers converting to SaaS.

Source: Varonis Q3 2026 results (Form 8-K, Exhibit 99.1), November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Varonis splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Varonis's SaaS revenue was $185 million in Q3 2026, up 47% from $126 million in Q3 2025, 98% of total revenue.
• Varonis's Term license subscriptions revenue was $1.2 million in Q3 2026, down 95% from $24.8 million in Q3 2025, under 1% of total revenue.
• Varonis's Maintenance and services revenue was $3.1 million in Q3 2026, down 71% from $10.9 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and GAAP net loss per basic and diluted share, each as first reported in that quarter's release.

We do not hold a confirmed date for Varonis's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Varonis reported total revenues of $189.5 million in Q3 2026, against $161.6 million a year earlier. SaaS revenues were $185.1 million, up from $125.8 million. Term license subscription revenues fell to $1.2 million from $24.8 million and maintenance and services revenues to $3.1 million from $10.9 million, with the vast majority of both declines driven by customers converting to the SaaS platform. (Varonis Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 3, 2026)

SaaS made up 97.7% of Varonis's revenues in the quarter, against 77.9% a year earlier, according to the 10-Q. Varonis attributes the 47% rise in SaaS revenues to its SaaS platform and its Managed Data Detection and Response (MDDR) offering, customer interest in securing AI, high renewal rates, existing customer conversions and upselling, and new customer acquisitions. Its SaaS renewal rate for the first nine months of 2026 was over 90%. (Varonis Form 10-Q, Q3 2026, Nov 4, 2026)

Varonis's revenue is mostly from the United States: $137.0 million in the quarter, with EMEA at $36.8 million and the rest of the world at $15.6 million. No single customer accounted for more than 10% of revenues. Varonis sells mainly through distributors and value-added resellers, and its customers are located in 100 countries. (Varonis Form 10-Q, Q3 2026, Nov 4, 2026)

Varonis has been adding AI security products by acquisition. On February 6, 2026 it completed the purchase of AllTrue.ai, a provider of AI system security software, and has since launched Varonis Atlas, which is powered by AllTrue.ai. In August 2025 it bought SlashNext, an AI-native email security provider. (Varonis Form 10-Q, Q3 2026, Nov 4, 2026)

Varonis's GAAP net loss was $41.6 million in Q3 2026, or $0.36 per share, against $29.9 million, or $0.26 per share, a year earlier. Its non-GAAP net income was $11.8 million, or $0.09 per diluted share, against $0.06 a year earlier. (Varonis Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 3, 2026)

Most of the gap between Varonis's GAAP and non-GAAP results is stock-based compensation, $41.2 million in the quarter against $31.6 million a year earlier. Amortization of acquired intangible assets and acquisition-related expenses rose to $13.6 million from $4.1 million after the AllTrue.ai and SlashNext deals. Varonis also excludes payroll tax on stock-based compensation, foreign exchange differences and amortization of debt issuance costs. (Varonis Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 3, 2026)

Varonis's GAAP loss used 114,998,580 weighted average shares, and its non-GAAP diluted figure used 130,947,922. During 2026 Varonis repurchased and retired 5,355,445 shares for $135.0 million, completing its October 2025 share repurchase program in March 2026. (Varonis Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 3, 2026; Varonis Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Varonis gave no outlook for Q4 2026. Its release says that in light of the pending acquisition by Proofpoint, a portfolio company of Thoma Bravo, it will not provide forward-looking guidance or update previously issued guidance, and it did not hold an earnings call for the quarter. (Varonis Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 3, 2026)

Under the merger agreement signed on October 15, 2026, each Varonis share would be converted into the right to receive $49.75 in cash. The deal needs stockholder adoption and regulatory approvals and is expected to close in the first half of 2027. Varonis would owe a termination fee of $211.7 million in some circumstances, and Proofpoint a reverse termination fee of $423.3 million in others. (Varonis Form 10-Q, Q3 2026, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Varonis, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Varonis's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning VRNS is on is VRNS a buy or a sell?, what analysts expect next is on the VRNS forecast, and what the company does is on the Varonis Systems (VRNS) stock page.

Every number on this page can be traced to a document Varonis published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.