# Varonis Systems share price today (Varonis Systems, Inc., VRNS)

> Varonis Systems, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. VRNS · Technology · Software - Infrastructure · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/vrns

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## Key numbers

- Price: $48.96 (+39.0% in a year)
- Revenue (Jun 2026): $180 M (+18.3% on a year ago)
- Profit (Jun 2026): −$46.8 M
- Operating margin: −22.6% (+1.4 points on a year ago)
- ROE: −22%, FY25
- ROIC: −9.8%, against a 7.9% cost of capital: −17.7 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Varonis Systems share price today? Varonis Systems, Inc.'s share price was $48.96 at the close on 3 November 2026. It has been stalling near its high for 20 weeks. That is 37.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between $20 and $50, and at that close it sat 96% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 3 weeks in a row. Over the last 10 years the share price moved +486% while the S&P 500 moved +255%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Varonis Systems pay? Varonis Systems, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Varonis Systems on? Varonis Systems is on one of our US lists: US tech stocks. [US tech stocks](https://www.sectoralpha.in/us-tech-stocks)

## Is Varonis Systems profitable? Varonis Systems, Inc. posted a net loss of $46.8 M in the Jun 2026 quarter. The full FY25 year was a loss of $129 M. That loss is 26.0% of the quarter's revenue. The same quarter a year earlier lost $35.8 M. 12 of the last 12 reported quarters were loss-making. ## How much revenue does Varonis Systems make, and is it growing? Varonis Systems, Inc. reported $180 M of revenue in the Jun 2026 quarter, +18.3% on the same quarter a year earlier. That is the 11th quarter in a row with growth on the year before. Over 4 years it has grown 12.4% a year on average. The last full year, FY25, came in at $624 M. The last four reported quarters add to $688 M. FY25 revenue was $624 M, +13.2% on the year before. Recent pace: the last four quarters grew +15.9% on average, against 12.4% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +15.6%, against +14.9% a year over the last 8 quarters (stabilising). ## How much of every $100 of sales does Varonis Systems keep? Varonis Systems, Inc.'s operating margin was −22.6% in the Jun 2026 quarter, 1.4 percentage points higher than the same quarter a year ago. Across 5 years it has been between −25.6% and −21.4%. The latest quarter is within that range. Why the margin moved: operating margin changed +1.4 percentage points on the year while gross margin changed −4.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Varonis Systems' profit turning into cash? Varonis Systems, Inc.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 it brought in $147 M of operating cash against −$129 M of profit. After $12.6 M of spending on assets, $135 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Varonis Systems' cash go? Varonis Systems, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $24.4 M on assets over the last 3 years. Averaged over those years that is 1.3% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $24.4 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is Varonis Systems' P/E ratio, and how does it compare with its own history? Varonis Systems, Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Varonis Systems, Inc. at 9.0× its FY25 revenue of $624 M. The P/E comes back here once profit turns positive. ## Is the Varonis Systems business getting better or worse? Varonis Systems, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Varonis Systems earn on its capital? Varonis Systems, Inc. earned a ROE of −22% in FY25. That is up from a low of −25% in FY22. Its return on capital used (ROIC) is 17.7 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −20.7% net margin and 0.35× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −20.7% net margin × 0.35× asset turnover × 2.99× leverage (assets divided by equity) ≈ −21.7% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: −9.8% − 7.9% = −17.7 percentage points. The 7.9% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Varonis Systems have too much debt? Varonis Systems, Inc. has total debt of $528 M against shareholder equity of $444 M as of Jun 2026, so its debt is 1.19× its equity. Year by year, that ratio went from 0.51 in FY21 to 0.87 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Varonis Systems shareholding pattern? 5.3% of Varonis Systems, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 3.6 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Varonis Systems from balance-sheet trouble? For Varonis Systems, Inc., the Z-score is 1.79. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 1.79 is inside the danger zone, so the balance sheet is a real risk. ## How does Varonis Systems rank in its industry? There is no score against its industry: Varonis Systems, Inc. is not among the largest members shown in this industry comparison for Software - Infrastructure. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Varonis Systems compared with? No sector comparison is shown here, not among the largest members shown in this industry comparison. ## Which companies are close to Varonis Systems in size? Varonis Systems is the 43rd largest of 117 Software - Infrastructure companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: WEX Inc., Box, Inc. and ACI Worldwide, Inc. Just below it: Remitly Global, Inc., Tenable Holdings, Inc. and BlackBerry. ### Software - Infrastructure companies close in size

1. [WEX Inc.](https://www.sectoralpha.in/us/stocks/wex) $6 billion
2. [Box, Inc.](https://www.sectoralpha.in/us/stocks/box) $5.9 billion
3. [ACI Worldwide, Inc.](https://www.sectoralpha.in/us/stocks/aciw) $5.9 billion
4. Varonis Systems, Inc. $5.6 billion
5. [Remitly Global, Inc.](https://www.sectoralpha.in/us/stocks/rely) $5.4 billion
6. [Tenable Holdings, Inc.](https://www.sectoralpha.in/us/stocks/tenb) $4.9 billion
7. [BlackBerry Limited](https://www.sectoralpha.in/us/stocks/bb) $4.8 billion

[All 117 Software - Infrastructure companies, largest first](https://www.sectoralpha.in/us/sectors/software-infrastructure#all-companies)

### Companies close in size in other industries

1. [AAON, Inc.](https://www.sectoralpha.in/us/stocks/aaon) $5.6 billion · Building Products & Equipment
2. [TAL Education Group](https://www.sectoralpha.in/us/stocks/tal) $5.6 billion · Education & Training Services
3. Varonis Systems, Inc. $5.6 billion
4. [National Storage Affiliates Trust](https://www.sectoralpha.in/us/stocks/nsa) $5.6 billion · REIT - Industrial
5. [Phillips Edison & Company, Inc.](https://www.sectoralpha.in/us/stocks/peco) $5.6 billion · REIT - Retail

## What else do people ask about Varonis Systems? ### What were Varonis Systems's latest quarterly results? Varonis Systems, Inc. reported revenue of $180 M and a net loss of $46.8 M for the Jun 2026 quarter. Earnings per share were −$0.41. The operating margin was −22.6%, 1.4 percentage points higher than a year earlier (as of 3 November 2026). ### What is Varonis Systems's market cap? Varonis Systems, Inc.'s market capitalisation is $5.6 B at a stock price of $48.96. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Varonis Systems performing? Varonis Systems, Inc.'s share price has been stalling near its high for 20 weeks. Over the past 13 weeks it has done better than the S&P 500, for 3 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Varonis Systems's stock price go up? This page does not forecast Varonis Systems, Inc.'s stock price. What it shows instead: the stock price is $48.96, and it has been stalling near its high for 20 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Where is Varonis Systems in its business cycle? Varonis Systems, Inc.'s FY25 operating margin was −23.4%, against a 5-year range of −25.6% to −21.4%: the middle of its own range, neither a peak nor a low. The latest quarter was −22.6%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Varonis Systems story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Varonis Systems a stock worth studying right now? What the numbers show: Varonis Systems, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ## Lists

- US tech stocks: https://www.sectoralpha.in/us-tech-stocks

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