Varonis Systems Inc. (NASDAQ:VRNS) on Tuesday posted upbeat first-quarter sales on Tuesday.
The company reported total revenue of $173.1 million, up from $136.4 million a year earlier. The company reported a GAAP operating loss of $44.5 million, compared to $43.8 million a year earlier. On a non-GAAP basis, operating loss improved to $1.4 million from $6.5 million.
Yaki Faitelson, Varonis CEO, said, “Our Q1 results reflect strong execution across our business, and SaaS ARR, excluding conversions increased 29%. AI is forcing companies to prioritize data and AI security, and Varonis is uniquely positioned to help customers put the right guardrails in place so they can achieve automated outcomes and safely deploy AI with minimal effort. We …