Filing Flows

Filing Flows › Varonis Systems (VRNS) › Q3 2026

Varonis Systems (VRNS) Q3 2026 earnings results (third quarter 2026)

10-Q filed Nov 4, 2026

Varonis Systems (VRNS) reported revenue of $189M for the third quarter 2026 (Q3 2026), +17% from a year earlier and +5% from the quarter before. Operating margin was -25.2%, net loss $41.6M (22.0% of revenue).

Revenue$189M
Year over year+17%
Quarter over quarter+5%
Operating margin-25.2%
Net earnings−$41.6M

Varonis Systems, Q3 2026: revenue $189M (+17% year over year), operating margin -25.2%, net loss $41.6M, operating cash flow $28.2M. The chart follows the revenue to costs, profit and cash.

Q3 2026AmountQ/QY/Y
Revenue$189M+5%+17%
Operating profit−$47.7M——
Net earnings−$41.6M——
Operating cash flow$28.2M+12%-16%
Free cash flow$26.6M+29%-13%

What changed

Revenue was $189.5M in Q3 2026, up 17% year over year and up 5% from the previous quarter. SaaS was the largest line at 98% of revenue. SaaS added $59.3M year over year (up 47%), 213% of the total change. Term license subscriptions declined 95%.

Gross margin was 75.3%, down 3.0 points from Q3 2025. Operating costs exceeded revenue by $47.7M, an operating margin of -25.2%. Operating expenses grew 17% against revenue growth of 17%. The fastest-growing cost line was Research & development (+25%). The quarter ended with a net loss of $41.6M, narrower than the previous quarter's $46.8M loss. Non-operating items added $9.2M, -24% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $28.2M (down 16% year over year). Non-cash charges added back $6.4M of depreciation and amortization and $41.2M of share-based compensation. Working capital and other items added $22.2M. Capital expenditures of $1.6M left free cash flow of $26.6M.

Questions

What was Varonis Systems' revenue in the third quarter 2026?

Varonis Systems (VRNS) reported revenue of $189M for the third quarter 2026 (Q3 2026), +17% from a year earlier and +5% from the quarter before.

Was Varonis Systems profitable in the third quarter 2026?

Operating loss was $47.7M (-25.2% of revenue) and net loss $41.6M.

Open the interactive Sankey →

Source: Varonis Systems 10-Q on SEC EDGAR.