VRNS · VARONIS SYSTEMS Q2 FY2026 earnings call record财报电话会记录

“Organizations are prioritizing data and AI security, and we are uniquely positioned to help customers secure sensitive data, govern AI, and automated risk reduction.”

“Year-to-date, we generated $69.1 million of free cash flow, down from $82.7 million in the same period last year, which reflects the previously communicated headwind from the end-of-life announcement of our on-prem platform, and also includes approximately $11.9 million of acquisition-related costs related to the accounting treatment of our acquisitions.”

“Adjusting for the acquisition-related costs, year-to-date free cash flow would've been approximately $81 million.”

“We are confident in our cash flow generation and are raising our full-year free cash flow guidance by $5 million.”

“Gross profit for the second quarter was $139.9 million, representing a gross margin of 77.7% compared to 80.6% in the second quarter of 2025.”

“This compares to an operating loss of $1.9 million, or an operating margin of -1.2% in the same period last year.”

“For the six months ended June 30th, 2026, we generated $80.1 million of cash from operations compared to $89.3 million generated in the same period last year, and CapEx was $9.4 million compared to $5.7 million in the same period last year.”

“For the full year 2026, we will provide annual guidance for both SaaS ARR excluding conversions and total SaaS ARR.”

“For the third quarter of 2026, we expect SaaS ARR growth of 22%-23%, excluding conversions, total revenues of $185 million-$188 million, representing growth of 14%-16%, non-GAAP operating income of $2.5 million-$3.5 million, and non-GAAP net income per diluted share in the range of $0.02-$0.03.”

“Free cash flow of $105 million-$110 million, total revenues of $735 million-$739 million, representing growth of 18%-19%.”

“In summary, we continue to see many positive trends, including healthy new logo momentum, strong pipeline activity, and a growing urgency from customers to secure AI systems and the data that powers them, which reinforces our confidence in the durability of our platform and the massive opportunity ahead.”

“What we see that is really starting to drive the business and build a lot of pipeline is where customers are in the, just the maturity curve.”