Varonis Systems Inc. (NASDAQ:VRNS) surged 18.16% in after-hours trading to $30.06 after reporting its first-quarter 2026 results on Tuesday. The stock closed the regular session at $25.44 before the sharp post-market move.
Revenue Growth Driven By SaaS Expansion
The company reported total revenue of $173.1 million, up from $136.4 million a year earlier. SaaS revenue was the main driver, rising to $161.1 million from $88.6 million in the prior-year quarter.
SaaS annual recurring revenue reached $683.2 million, up 69% year-over-year, while growth excluding conversions came in at 29%.
AI Security Push And Product Development
Varonis highlighted continued expansion in AI-driven data security, including the launch of Varonis Atlas following its acquisition of AllTrue.ai. The platform focuses on visibility and control across AI systems and enterprise data environments.
Management emphasized increasing demand for AI security tools as enterprises accelerate adoption of artificial intelligence.
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