$VRNS
VARONIS SYSTEMS INC

2022 Q4 Form 10-Q Financial Statement

#000162828022027571 Filed on November 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $142.6M $123.3M
YoY Change 12.67% 22.87%
Cost Of Revenue $17.03M $17.20M
YoY Change -2.0% 19.95%
Gross Profit $125.6M $106.1M
YoY Change 15.01% 23.36%
Gross Profit Margin 88.06% 86.05%
Selling, General & Admin $90.56M $87.21M
YoY Change 4.23% 24.19%
% of Gross Profit 72.11% 82.19%
Research & Development $45.02M $44.48M
YoY Change 12.14% 29.51%
% of Gross Profit 35.85% 41.92%
Depreciation & Amortization $4.051M $2.948M
YoY Change 54.8% 4.72%
% of Gross Profit 3.23% 2.78%
Operating Expenses $135.6M $131.7M
YoY Change 6.73% 25.94%
Operating Profit -$9.993M -$25.58M
YoY Change -43.96% 37.87%
Interest Expense $4.270M $2.431M
YoY Change -204.48% -175.17%
% of Operating Profit
Other Income/Expense, Net $2.431M
YoY Change -175.17%
Pretax Income -$5.723M -$23.15M
YoY Change -73.89% 6.25%
Income Tax $5.025M $5.566M
% Of Pretax Income
Net Earnings -$10.75M -$28.72M
YoY Change -56.91% 23.17%
Net Earnings / Revenue -7.54% -23.29%
Basic Earnings Per Share -$0.26
Diluted Earnings Per Share -$0.10 -$0.26
COMMON SHARES
Basic Shares Outstanding 110.2M shares 109.9M shares
Diluted Shares Outstanding 110.0M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $732.5M $790.4M
YoY Change -9.3% -2.84%
Cash & Equivalents $367.8M $754.2M
Short-Term Investments $364.7M $36.11M
Other Short-Term Assets $37.19M $34.56M
YoY Change 8.06% 29.25%
Inventory
Prepaid Expenses $10.22M
Receivables $136.0M $91.69M
Other Receivables $0.00 $0.00
Total Short-Term Assets $905.7M $916.6M
YoY Change -5.58% 0.55%
LONG-TERM ASSETS
Property, Plant & Equipment $39.04M $38.19M
YoY Change 1.95% 11.78%
Goodwill $23.14M $23.14M
YoY Change 0.0% 0.0%
Intangibles $2.788M $3.169M
YoY Change -35.36% -32.5%
Long-Term Investments
YoY Change
Other Assets $16.34M $18.67M
YoY Change -17.64% -5.33%
Total Long-Term Assets $138.1M $141.9M
YoY Change -7.54% -3.42%
TOTAL ASSETS
Total Short-Term Assets $905.7M $916.6M
Total Long-Term Assets $138.1M $141.9M
Total Assets $1.044B $1.059B
YoY Change -5.85% 0.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.962M $5.989M
YoY Change -44.37% 73.8%
Accrued Expenses $115.2M $109.3M
YoY Change 12.72% 18.86%
Deferred Revenue $110.6M $94.19M
YoY Change 6.07% 9.2%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $228.7M $209.4M
YoY Change 8.01% 15.31%
LONG-TERM LIABILITIES
Long-Term Debt $249.0M $248.6M
YoY Change 10.49% 11.18%
Other Long-Term Liabilities $4.771M $7.191M
YoY Change 33.16% 74.45%
Total Long-Term Liabilities $312.9M $316.8M
YoY Change 4.23% 5.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $228.7M $209.4M
Total Long-Term Liabilities $312.9M $316.8M
Total Liabilities $541.6M $526.2M
YoY Change 5.79% 9.28%
SHAREHOLDERS EQUITY
Retained Earnings -$543.5M -$532.7M
YoY Change 27.1% 32.3%
Common Stock $108.0K $110.0K
YoY Change 0.0% 2.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $502.1M $532.3M
YoY Change
Total Liabilities & Shareholders Equity $1.044B $1.059B
YoY Change -5.85% 0.0%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$10.75M -$28.72M
YoY Change -56.91% 23.17%
Depreciation, Depletion And Amortization $4.051M $2.948M
YoY Change 54.8% 4.72%
Cash From Operating Activities $3.434M -$1.638M
YoY Change 915.98% -61.95%
INVESTING ACTIVITIES
Capital Expenditures $3.762M -$1.500M
YoY Change -159.06% -24.01%
Acquisitions
YoY Change
Other Investing Activities -$328.5M -$519.0K
YoY Change -3952.71% -102.36%
Cash From Investing Activities -$332.3M -$2.019M
YoY Change -15504.87% -110.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -57.60M 4.730M
YoY Change -47309.84% -21.7%
NET CHANGE
Cash From Operating Activities 3.434M -1.638M
Cash From Investing Activities -332.3M -2.019M
Cash From Financing Activities -57.60M 4.730M
Net Change In Cash -386.4M 1.073M
YoY Change -14866.72% -95.08%
FREE CASH FLOW
Cash From Operating Activities $3.434M -$1.638M
Capital Expenditures $3.762M -$1.500M
Free Cash Flow -$328.0K -$138.0K
YoY Change -104.89% -94.08%

Facts In Submission

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StockholdersEquity
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StockholdersEquity
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2022Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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vrns Payments To Acquire Short Term And Long Term Deposits
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us-gaap Net Cash Provided By Used In Financing Activities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2022Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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us-gaap Amortization Of Intangible Assets
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CY2021Q3 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2022Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
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794662 shares
CY2022Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
7.097
CY2022Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
785620 shares
CY2022Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
7.114
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34300000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24422000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
108056000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
71669000 usd
CY2021Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
123308000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
100353000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
331017000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
263556000 usd
CY2022Q3 us-gaap Noncurrent Assets
NoncurrentAssets
96945000 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
102047000 usd

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0001628280-22-027571.txt Edgar Link pending
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vrns-20220930_htm.xml Edgar Link completed