Varonis: 2Q Earnings Snapshot
Jul. 30, 2018
NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $12.7 million in its second quarter.
The New York-based company said it had a loss of 44 cents per share. Losses, adjusted for stock option expense, were 8 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The data-management software company posted revenue of $62.2 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $62.1 million.
For the current quarter ending in October, Varonis expects its results to range from a loss of 2 cents per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $64 million to $65 million for the fiscal third quarter.
Varonis expects full-year revenue in the range of $265 million to $268.5 million.
Varonis shares have risen 48 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $71.90, a climb of 93 percent in the last 12 months.