Varonis (VRNS) Hits New Record Low on Higher Net Loss, Dismal Guidance

We recently published 10 Stocks Plunging Fast; 5 Now at All-Time Lows. Varonis Systems, Inc. (NASDAQGS:VRNS) is one of the worst-performing stocks on Wednesday.

Varonis Systems dropped to an all-time low on Wednesday, after recording a higher net loss in the third quarter of the year, coupled with a lower growth guidance for the full-year period.

At intra-day trading, the stock dropped to its lowest 52-week price of $32.02 before paring losses to end the day just down by 48.67 percent at $32.34 apiece.

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In an updated report, Varonis Systems, Inc. (VRNS) said net loss widened by 63 percent to $29.9 million from $18.3 million in the same period last year, despite total revenues increasing by 8.78 percent to $161 million from $148 million year-on-year.

Looking ahead, Varonis Systems, Inc. (VRNS) lowered its revenue outlook for full-year 2025, to a range of $615.2 million to $621.2 million, versus the $616 million to $628 million in the same period last year.

Annual recurring revenue outlook was also reduced to a range of $730 million to $738 million, or a growth of 14 to 15 percent, versus the $748 million to $750 million or a year-on-year growth of 17 percent, previously.

“In the final weeks of the quarter, we experienced lower renewals in the Federal vertical and in our non-Federal on-prem subscription business, which led to a shortfall relative to our expectations,” said Varonis Systems, Inc. (VRNS) CEO Yaki Faitelson.

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Disclosure: None. This article is originally published at Insider Monkey.