$VRNS
VARONIS SYSTEMS INC

2017 Q3 Form 10-Q Financial Statement

#000117184317006623 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $53.37M $40.94M
YoY Change 30.36% 31.05%
Cost Of Revenue $5.423M $4.116M
YoY Change 31.75% 35.22%
Gross Profit $47.94M $36.82M
YoY Change 30.2% 30.6%
Gross Profit Margin 89.84% 89.95%
Selling, General & Admin $39.17M $31.46M
YoY Change 24.49% 27.62%
% of Gross Profit 81.69% 85.44%
Research & Development $11.90M $9.290M
YoY Change 28.13% 14.9%
% of Gross Profit 24.83% 25.23%
Depreciation & Amortization $690.0K $540.0K
YoY Change 27.78% 50.0%
% of Gross Profit 1.44% 1.47%
Operating Expenses $51.07M $40.75M
YoY Change 25.32% 24.48%
Operating Profit -$3.127M -$3.930M
YoY Change -20.43% -13.53%
Interest Expense $620.0K -$190.0K
YoY Change -426.32% 90.0%
% of Operating Profit
Other Income/Expense, Net $622.0K -$187.0K
YoY Change -432.62% 79.81%
Pretax Income -$2.505M -$4.117M
YoY Change -39.15% -11.44%
Income Tax $759.0K $272.0K
% Of Pretax Income
Net Earnings -$3.264M -$4.389M
YoY Change -25.63% -10.88%
Net Earnings / Revenue -6.12% -10.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$39.38K -$55.23K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $128.4M $112.0M
YoY Change 14.64% 6.67%
Cash & Equivalents $53.48M $41.69M
Short-Term Investments $75.00M $70.40M
Other Short-Term Assets $5.500M $3.900M
YoY Change 41.03% 25.81%
Inventory
Prepaid Expenses
Receivables $44.68M $30.13M
Other Receivables $0.00 $0.00
Total Short-Term Assets $178.6M $146.1M
YoY Change 22.26% 7.16%
LONG-TERM ASSETS
Property, Plant & Equipment $11.51M $9.231M
YoY Change 24.71% 17.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $861.0K $545.0K
YoY Change 57.98% 14.74%
Total Long-Term Assets $12.37M $9.776M
YoY Change 26.57% 17.68%
TOTAL ASSETS
Total Short-Term Assets $178.6M $146.1M
Total Long-Term Assets $12.37M $9.776M
Total Assets $191.0M $155.9M
YoY Change 22.53% 7.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.366M $944.0K
YoY Change 44.7% -57.38%
Accrued Expenses $32.20M $22.20M
YoY Change 45.05% 16.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $91.92M $69.58M
YoY Change 32.11% 23.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.283M $5.681M
YoY Change -7.01% 10.03%
Total Long-Term Liabilities $12.04M $9.976M
YoY Change 20.64% 4.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.92M $69.58M
Total Long-Term Liabilities $12.04M $9.976M
Total Liabilities $104.0M $79.55M
YoY Change 30.67% 20.91%
SHAREHOLDERS EQUITY
Retained Earnings -$128.0M -$109.7M
YoY Change 16.71% 20.42%
Common Stock $28.00K $27.00K
YoY Change 3.7% 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $87.04M $76.32M
YoY Change
Total Liabilities & Shareholders Equity $191.0M $155.9M
YoY Change 22.53% 7.76%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$3.264M -$4.389M
YoY Change -25.63% -10.88%
Depreciation, Depletion And Amortization $690.0K $540.0K
YoY Change 27.78% 50.0%
Cash From Operating Activities $3.470M $2.200M
YoY Change 57.73% 175.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.040M -$1.130M
YoY Change -7.96% -36.16%
Acquisitions
YoY Change
Other Investing Activities -$6.960M -$18.04M
YoY Change -61.42% -18140.0%
Cash From Investing Activities -$7.990M -$19.16M
YoY Change -58.3% 1047.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.460M 2.550M
YoY Change 74.9% 147.57%
NET CHANGE
Cash From Operating Activities 3.470M 2.200M
Cash From Investing Activities -7.990M -19.16M
Cash From Financing Activities 4.460M 2.550M
Net Change In Cash -60.00K -14.41M
YoY Change -99.58% -9106.25%
FREE CASH FLOW
Cash From Operating Activities $3.470M $2.200M
Capital Expenditures -$1.040M -$1.130M
Free Cash Flow $4.510M $3.330M
YoY Change 35.44% 29.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-11-24
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96173000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
77607000
us-gaap Share Based Compensation
ShareBasedCompensation
14445000
us-gaap Share Based Compensation
ShareBasedCompensation
9455000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1467826
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
15.116
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
13993000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
88536
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
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
44188000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2388348
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1736351
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.243
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.451
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.689
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.319
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2017Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1467826
CY2017Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1736351
CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
39315000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y294D
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
P5Y61D
CY2017Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
15.116
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y294D
CY2017Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
16.451
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y61D
CY2017Q3 us-gaap Short Term Investments
ShortTermInvestments
74963000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
563461
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
87044000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
82739000
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
65493000
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27595461
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26492313
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27292216
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26294936
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
CY2017Q3 vrns Financial Assets Liabilities Fair Value Disclosure
FinancialAssetsLiabilitiesFairValueDisclosure
71633000
vrns Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
209000
vrns Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
27000
CY2017Q3 vrns Subsidiary Or Equity Method Investee Number
SubsidiaryOrEquityMethodInvesteeNumber
7

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