Varonis reports Q1 EPS (35c), consensus (5c)

Reports Q1 revenue $107.3M, consensus $106.91M.Yaki Faitelson, Varonis CEO, said, "It is clear that the simplicity and the automated protection of Varonis SaaS is resonating with our customers and our sales force, which leaves me optimistic about our SaaS transition, in spite of the economic slowdown that is impacting our customers." Guy Melamed, Varonis CFO & COO, added, "Strong initial adoption from our customers, led to a better-than-expected first quarter SaaS mix of 37% vs. guidance of 15%. Despite this higher mix revenue headwind, first quarter revenue came in near the top end of our guidance range, which highlights the solid start to the year and gives us the confidence to raise our full-year SaaS mix and ARR guidance."