$VRNS
VARONIS SYSTEMS INC

2017 Q2 Form 10-Q Financial Statement

#000117184317004747 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $49.43M $38.64M
YoY Change 27.92% 32.56%
Cost Of Revenue $4.881M $3.721M
YoY Change 31.17% 29.97%
Gross Profit $44.55M $34.92M
YoY Change 27.58% 32.84%
Gross Profit Margin 90.13% 90.37%
Selling, General & Admin $39.16M $31.60M
YoY Change 23.92% 26.28%
% of Gross Profit 87.9% 90.49%
Research & Development $11.50M $8.905M
YoY Change 29.12% 14.18%
% of Gross Profit 25.81% 25.5%
Depreciation & Amortization $660.0K $570.0K
YoY Change 15.79% 62.86%
% of Gross Profit 1.48% 1.63%
Operating Expenses $50.66M $40.51M
YoY Change 25.06% 23.4%
Operating Profit -$6.107M -$5.585M
YoY Change 9.35% -14.55%
Interest Expense $950.0K -$610.0K
YoY Change -255.74% -252.5%
% of Operating Profit
Other Income/Expense, Net $950.0K -$605.0K
YoY Change -257.02% -250.5%
Pretax Income -$5.157M -$6.190M
YoY Change -16.69% 0.91%
Income Tax $580.0K $303.0K
% Of Pretax Income
Net Earnings -$5.737M -$6.493M
YoY Change -11.64% 2.7%
Net Earnings / Revenue -11.61% -16.8%
Basic Earnings Per Share
Diluted Earnings Per Share -$70.03K -$82.34K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.6M $108.5M
YoY Change 12.07% 3.43%
Cash & Equivalents $53.54M $56.10M
Short-Term Investments $68.00M $52.40M
Other Short-Term Assets $7.600M $2.600M
YoY Change 192.31% -7.14%
Inventory
Prepaid Expenses
Receivables $41.31M $33.49M
Other Receivables $0.00 $0.00
Total Short-Term Assets $170.5M $144.6M
YoY Change 17.91% 5.84%
LONG-TERM ASSETS
Property, Plant & Equipment $11.16M $8.646M
YoY Change 29.08% 34.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $818.0K $511.0K
YoY Change 60.08% -10.35%
Total Long-Term Assets $11.98M $9.157M
YoY Change 30.81% 30.89%
TOTAL ASSETS
Total Short-Term Assets $170.5M $144.6M
Total Long-Term Assets $11.98M $9.157M
Total Assets $182.4M $153.7M
YoY Change 18.68% 7.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.348M $2.074M
YoY Change -35.0% -19.74%
Accrued Expenses $30.80M $22.70M
YoY Change 35.68% 34.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $89.57M $69.74M
YoY Change 28.44% 31.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.273M $5.393M
YoY Change -2.23% 11.89%
Total Long-Term Liabilities $10.63M $9.616M
YoY Change 10.59% 3.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.57M $69.74M
Total Long-Term Liabilities $10.63M $9.616M
Total Liabilities $100.2M $79.36M
YoY Change 26.27% 27.26%
SHAREHOLDERS EQUITY
Retained Earnings -$124.7M -$105.3M
YoY Change 18.42% 22.21%
Common Stock $27.00K $26.00K
YoY Change 3.85% 4.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.23M $74.37M
YoY Change
Total Liabilities & Shareholders Equity $182.4M $153.7M
YoY Change 18.68% 7.06%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$5.737M -$6.493M
YoY Change -11.64% 2.7%
Depreciation, Depletion And Amortization $660.0K $570.0K
YoY Change 15.79% 62.86%
Cash From Operating Activities -$920.0K -$3.100M
YoY Change -70.32% -53.59%
INVESTING ACTIVITIES
Capital Expenditures -$1.030M -$730.0K
YoY Change 41.1% -43.85%
Acquisitions
YoY Change
Other Investing Activities $2.190M $4.990M
YoY Change -56.11% -2096.0%
Cash From Investing Activities $1.150M $4.260M
YoY Change -73.0% -376.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.260M 490.0K
YoY Change 361.22% 600.0%
NET CHANGE
Cash From Operating Activities -920.0K -3.100M
Cash From Investing Activities 1.150M 4.260M
Cash From Financing Activities 2.260M 490.0K
Net Change In Cash 2.490M 1.650M
YoY Change 50.91% -120.25%
FREE CASH FLOW
Cash From Operating Activities -$920.0K -$3.100M
Capital Expenditures -$1.030M -$730.0K
Free Cash Flow $110.0K -$2.370M
YoY Change -104.64% -55.95%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Incorporation Date Of Incorporation
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CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
32560000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26840000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
63371000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
51204000
us-gaap Share Based Compensation
ShareBasedCompensation
9663000
us-gaap Share Based Compensation
ShareBasedCompensation
5997000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1633271
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.216
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
30025000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42589000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2388348
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1985104
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.243
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.941
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.324
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
18.148
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2017Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1633271
CY2017Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1985104
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
37856000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y227D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y314D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y12D
CY2017Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
14.216
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y227D
CY2017Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
15.941
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y12D
CY2017Q2 us-gaap Short Term Investments
ShortTermInvestments
68039000
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
65493000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
330351
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
82232000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
82739000
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27321837
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26273380
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27137930
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26195269
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
CY2017Q2 vrns Financial Assets Liabilities Fair Value Disclosure
FinancialAssetsLiabilitiesFairValueDisclosure
71633000
vrns Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
160000
vrns Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
27000
CY2017Q2 vrns Subsidiary Or Equity Method Investee Number
SubsidiaryOrEquityMethodInvesteeNumber
7

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