Here's What Key Metrics Tell Us About Varonis (VRNS) Q3 Earnings
For the quarter ended September 2023, Varonis Systems (VRNS) reported revenue of $122.31 million, down 0.8% over the same period last year. EPS came in at $0.08, compared to $0.05 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $125.75 million, representing a surprise of -2.74%. The company delivered an EPS surprise of +166.67%, with the consensus EPS estimate being $0.03.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Varonis performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annual Recurring Revenues: $517.50 million versus the four-analyst average estimate of $513.55 million.
Revenues- Maintenance and Services: $24.63 million compared to the $24.19 million average estimate based on six analysts. The reported number represents a change of -9.6% year over year.
Revenues- Subscriptions: $97.68 million compared to the $101.37 million average estimate based on six analysts. The reported number represents a change of +1.7% year over year.
View all Key Company Metrics for Varonis here>>>
Shares of Varonis have returned +3.2% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Varonis Systems, Inc. (VRNS) : Free Stock Analysis Report
