Filing Flows › Varonis Systems (VRNS) › How it makes money
How Varonis Systems (VRNS) makes money
Varonis Systems (VRNS) made $189M of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. SaaS brought in $185M (98%); Maintenance and services brought in $3.1M (2%); Term license subscriptions brought in $1.2M (1%).
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| SaaS | $185M | 97.7% | +8% | +47% |
| Maintenance and services | $3.1M | 1.6% | -24% | -71% |
| Term license subscriptions | $1.2M | 0.6% | -71% | -95% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $189M | 100.0% |
| Income tax | $3.1M | 1.6% |
| Operating cash flow | $28.2M | 14.9% |
| Free cash flow | $26.6M | 14.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $189M | +17% |
| Q2 2026 | $180M | +18% |
| Q1 2026 | $173M | +27% |
| Q4 2025 | $173M | +9% |
| Q3 2025 | $162M | +9% |
| Q2 2025 | $152M | +17% |
| Q1 2025 | $136M | +20% |
From Varonis Systems' 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Varonis Systems make money?
Varonis Systems (VRNS) made $189M of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. SaaS brought in $185M (98%); Maintenance and services brought in $3.1M (2%); Term license subscriptions brought in $1.2M (1%).
What is Varonis Systems' biggest business?
SaaS: $185M in the third quarter 2026, 98% of revenue, +47% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.