$VRNS
VARONIS SYSTEMS INC

2017 Q1 Form 10-Q Financial Statement

#000117184317002737 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $39.59M $30.47M
YoY Change 29.94% 32.56%
Cost Of Revenue $4.693M $3.496M
YoY Change 34.24% 23.4%
Gross Profit $34.90M $26.97M
YoY Change 29.38% 33.85%
Gross Profit Margin 88.15% 88.53%
Selling, General & Admin $36.42M $28.93M
YoY Change 25.92% 20.67%
% of Gross Profit 104.36% 107.24%
Research & Development $10.41M $8.837M
YoY Change 17.79% 14.28%
% of Gross Profit 29.83% 32.76%
Depreciation & Amortization $622.0K $497.0K
YoY Change 25.15% 44.48%
% of Gross Profit 1.78% 1.84%
Operating Expenses $46.83M $37.76M
YoY Change 24.02% 19.11%
Operating Profit -$11.93M -$10.79M
YoY Change 10.59% -6.6%
Interest Expense $470.0K $650.0K
YoY Change -27.69% -162.5%
% of Operating Profit
Other Income/Expense, Net $469.0K $645.0K
YoY Change -27.29% -161.96%
Pretax Income -$11.46M -$10.14M
YoY Change 13.0% -19.44%
Income Tax $200.0K $206.0K
% Of Pretax Income
Net Earnings -$11.66M -$10.35M
YoY Change 12.69% -18.31%
Net Earnings / Revenue -29.46% -33.97%
Basic Earnings Per Share
Diluted Earnings Per Share -$144.2K -$132.1K
COMMON SHARES
Basic Shares Outstanding 26.08M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.3M $111.8M
YoY Change 8.5% -1.06%
Cash & Equivalents $51.07M $54.46M
Short-Term Investments $70.30M $57.40M
Other Short-Term Assets $7.800M $4.600M
YoY Change 69.57% 91.67%
Inventory
Prepaid Expenses
Receivables $27.47M $24.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $156.6M $140.8M
YoY Change 11.18% 3.55%
LONG-TERM ASSETS
Property, Plant & Equipment $10.79M $8.490M
YoY Change 27.04% 54.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $778.0K $494.0K
YoY Change 57.49% 64.67%
Total Long-Term Assets $11.56M $8.984M
YoY Change 28.72% 54.9%
TOTAL ASSETS
Total Short-Term Assets $156.6M $140.8M
Total Long-Term Assets $11.56M $8.984M
Total Assets $168.1M $149.8M
YoY Change 12.24% 5.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.582M $702.0K
YoY Change 125.36% -66.57%
Accrued Expenses $21.60M $18.10M
YoY Change 19.34% 24.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $77.74M $62.02M
YoY Change 25.34% 27.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.429M $5.552M
YoY Change -2.22% -37.62%
Total Long-Term Liabilities $11.14M $9.944M
YoY Change 11.98% 11.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $77.74M $62.02M
Total Long-Term Liabilities $11.14M $9.944M
Total Liabilities $88.87M $71.97M
YoY Change 23.49% 25.59%
SHAREHOLDERS EQUITY
Retained Earnings -$119.6M -$98.78M
YoY Change 21.11%
Common Stock $27.00K $26.00K
YoY Change 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.27M $77.85M
YoY Change
Total Liabilities & Shareholders Equity $168.1M $149.8M
YoY Change 12.24% 5.65%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$11.66M -$10.35M
YoY Change 12.69% -18.31%
Depreciation, Depletion And Amortization $622.0K $497.0K
YoY Change 25.15% 44.48%
Cash From Operating Activities $8.297M $5.440M
YoY Change 52.52% 335.2%
INVESTING ACTIVITIES
Capital Expenditures $1.498M $722.0K
YoY Change 107.48% 52.64%
Acquisitions
YoY Change
Other Investing Activities -$4.900M -$270.0K
YoY Change 1714.81% -2800.0%
Cash From Investing Activities -$6.395M -$990.0K
YoY Change 545.96% 110.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 882.0K 760.0K
YoY Change 16.05% 38.18%
NET CHANGE
Cash From Operating Activities 8.297M 5.440M
Cash From Investing Activities -6.395M -990.0K
Cash From Financing Activities 882.0K 760.0K
Net Change In Cash 2.784M 5.210M
YoY Change -46.56% 291.73%
FREE CASH FLOW
Cash From Operating Activities $8.297M $5.440M
Capital Expenditures $1.498M $722.0K
Free Cash Flow $6.799M $4.718M
YoY Change 44.11% 507.21%

Facts In Submission

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13.536
CY2017Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P5Y41D
CY2017Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
15.654
CY2017Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y251D
CY2017Q1 us-gaap Short Term Investments
ShortTermInvestments
70250000
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
65493000
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26117073
CY2016Q1 vrns Common Stock Capital Shares Reserved For Future Issuance Annual Increase Maximum
CommonStockCapitalSharesReservedForFutureIssuanceAnnualIncreaseMaximum
1042766
CY2017Q1 vrns Common Stock Capital Shares Reserved For Future Issuance Annual Increase Maximum
CommonStockCapitalSharesReservedForFutureIssuanceAnnualIncreaseMaximum
1072870
CY2017Q1 vrns Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
140000
CY2016Q1 vrns Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
CY2017Q1 vrns Increase Decrease In Short Term Deposits
IncreaseDecreaseInShortTermDeposits
4757000
CY2016Q1 vrns Increase Decrease In Short Term Deposits
IncreaseDecreaseInShortTermDeposits
250000
CY2017Q1 vrns Subsidiary Or Equity Method Investee Number
SubsidiaryOrEquityMethodInvesteeNumber
7

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