---
title: "Varonics | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 152.16 M"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/250856838.md"
published_at: "2025-07-30T20:25:16.000Z"
---

# Varonics | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 152.16 M

Revenue: As of FY2025 Q2, the actual value is USD 152.16 M, beating the estimate of USD 147.83 M.

EPS: As of FY2025 Q2, the actual value is USD -0.32, missing the estimate of USD -0.2446.

EBIT: As of FY2025 Q2, the actual value is USD -31.59 M.

### Segment Revenue

-   **SaaS Revenue**: Increased by 137% from $44.8 million in Q2 2024 to $105.9 million in Q2 2025, driven by new customer acquisitions, existing customer conversions, and high renewal rates.
-   **Term License Subscriptions**: Decreased by 48.4% from $62.7 million in Q2 2024 to $32.4 million in Q2 2025, due to the transition to a SaaS delivery model.
-   **Maintenance and Services**: Decreased by 39.1% from $22.8 million in Q2 2024 to $13.9 million in Q2 2025, attributed to customer conversions to SaaS and churn.

### Operational Metrics

-   **Net Loss**: Increased from $23.9 million in Q2 2024 to $35.8 million in Q2 2025.
-   **Gross Margin**: Decreased from 82.8% in Q2 2024 to 79.5% in Q2 2025, primarily due to increased third-party hosting costs and increased headcount for customer success personnel.
-   **Operating Loss**: Increased from $28.8 million in Q2 2024 to $36.6 million in Q2 2025.

### Cash Flow

-   **Net Cash Provided by Operating Activities**: Increased to $89.3 million for the six months ended June 30, 2025, from $68.4 million for the same period in 2024, driven by a decrease in accounts receivable and an increase in deferred revenues.
-   **Net Cash Used in Financing Activities**: Increased to $120.6 million for the six months ended June 30, 2025, from $26.8 million for the same period in 2024, primarily due to $100 million in repurchases of common stock.

### Unique Metrics

-   **Annual Recurring Revenues (ARR)**: Increased by 19% from $584.2 million as of June 30, 2024, to $693.2 million as of June 30, 2025.

### Future Outlook and Strategy

-   **Core Business Focus**: The company is transitioning to a SaaS delivery model, expecting SaaS revenues to continue increasing and the transition to be complete by the end of 2025. This transition is expected to drive growth despite potential short-term revenue recognition variations.
-   **Non-Core Business**: The company completed the acquisition of Cyral, Inc. to enhance its database security capabilities, with the acquisition expected to provide synergies and expanded market opportunities.

### Related Stocks

- [VRNS.US - Varonics](https://longbridge.com/en/quote/VRNS.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.