VARONIS SYSTEMS, INC. VRNS Income Statement

Varonis systems, inc. (VRNS)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Revenues:
Revenue
54,176	72,560	65,649	59,621	56,360	87,518	67,052	62,190	53,528	73,001	53,365	49,431	39,593	55,815	40,937	38,641	30,470	43,837	31,237	29,150	22,986	33,714	25,563	24,616	17,455	25,689	18,510	17,837	12,580
Cost of revenues
10,180	9,652	8,768	8,398	8,326	7,749	7,052	6,440	6,442	5,717	5,423	4,881	4,693	4,404	4,116	3,721	3,496	3,279	3,044	2,863	2,833	2,788	2,590	2,491	2,042	1,968	1,652	1,507	1,349
Gross profit
43,996	62,908	56,881	51,223	48,034	79,769	60,000	55,750	47,086	67,284	47,942	44,550	34,900	51,411	36,821	34,920	26,974	40,558	28,193	26,287	20,153	30,926	22,973	22,125	15,413	23,721	16,858	16,330	11,231
Operating costs and expenses:
Research and development
22,688	21,874	20,400	19,722	18,768	19,445	17,267	17,717	15,542	13,559	11,903	11,498	10,409	9,628	9,290	8,905	8,837	8,175	8,085	7,799	7,733	7,499	7,316	6,832	6,439	5,867	5,712	4,875	4,519
Sales and marketing
42,580	44,129	42,117	41,656	41,996	46,196	40,792	41,349	39,972	37,973	32,458	32,580	30,914	28,025	26,410	26,840	24,364	24,295	20,617	21,264	20,191	19,619	17,741	17,186	14,241	13,308	11,115	10,500	9,208
General and administrative
11,398	10,910	10,339	13,851	9,271	9,628	8,774	7,989	7,069	8,005	6,708	6,579	5,509	5,449	5,051	4,760	4,562	4,530	4,036	3,760	3,780	3,512	3,030	2,665	2,665	2,964	2,158	2,220	1,539
Total operating expenses
76,666	76,913	72,856	75,229	70,035	75,269	66,833	67,055	62,583	59,537	51,069	50,657	46,832	43,102	40,751	40,505	37,763	37,000	32,738	32,823	31,704	30,630	28,087	26,683	23,345	22,139	18,985	17,595	15,266
Operating loss
-32,670	-14,005	-15,975	-24,006	-22,001	4,500	-6,833	-11,305	-15,497	7,747	-3,127	-6,107	-11,932	8,309	-3,930	-5,585	-10,789	3,558	-4,545	-6,536	-11,551	296	-5,114	-4,558	-7,932	1,582	-2,127	-1,265	-4,035
Financial income (expenses), net
1,453	156	-482	65	-128	704	99	-811	978	321	622	950	469	-738	-187	-605	645	-780	-104	402	-1,041	-806	-944	74	-38	116	-387	-324	-679
Loss before income taxes
-31,217	-13,849	-16,457	-23,941	-22,129	5,204	-6,734	-12,116	-14,519	8,068	-2,505	-5,157	-11,463	7,571	-4,117	-6,190	-10,144	2,778	-4,649	-6,134	-12,592	-510	-6,058	-4,484	-7,970	1,698	-2,514	-1,589	-4,714
Income taxes
213	801	530	547	510	-1,264	583	567	527	1,248	759	580	200	532	272	303	206	144	276	188	78	-179	296	155	104	182	50	47	77
Net loss
-31,430	-14,650	-16,987	-24,488	-22,639	6,468	-7,317	-12,683	-15,046	6,820	-3,264	-5,737	-11,663	7,039	-4,389	-6,493	-10,350	2,634	-4,925	-6,322	-12,670	-331	-6,354	-4,639	-8,074	1,516	-2,564	-1,636	-4,791
Net loss per share of common stock, basic and diluted (in dollars per share)
-1.02	-0.47	-0.56	-0.81	-0.76	0.24	-0.25	-0.44	-0.53	0.26	-0.12	-0.21	-0.43	0.28	-0.17	-0.25	-0.40	0.11	-0.19	-0.25	-0.51	0.27	-0.26	-0.19	-0.73	0.39	-0.66	-0.42	-1.24
Weighted average number of shares used in computing net loss per share of common stock, basic and diluted (in shares)
30,893	30,537	30,380	30,284	29,827	29,518	29,281	28,920	28,362	28,001	27,595	27,321	26,951	26,742	26,492	26,273	26,117	25,810	25,367	24,875	24,741	24,914	24,516	24,455	11,082	3,898	3,897	3,876	3,851
Subscriptions
Revenue
20,365	31,561	23,327	14,837	7,005	3,849	2,539	1,291	1,071	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Perpetual licenses
Revenue
388	6,789	8,269	11,514	15,521	49,790	33,432	32,270	24,086	44,287	29,000	27,310	18,092	35,066	22,591	21,742	13,844	28,242	16,862	16,011	10,158	21,706	14,239	14,422	8,053	16,855	10,256	10,498	5,879
Maintenance and services
Revenue
33,423	34,210	34,053	33,270	33,834	33,879	31,081	28,629	28,371	26,087	24,365	22,121	21,501	20,749	18,346	16,899	16,626	15,595	14,375	13,139	12,828	12,008	11,324	10,194	9,402	8,834	8,254	7,339	6,701