CLAIM #64655 · Varonis Systems (VRNS) · 2021Q1 earnings call · May 3, 2021 · due Dec 31, 2021
“We expect it to go down single digits, yes.”
Guy Melamed · CFO
How to check this claim
Look at: Year-over-year decline in professional services revenue (or related maintenance/services revenue line), fiscal year
It came true if: Decline between 1% and 9% year-over-year (single digits)
Where: Company income statement / revenue breakdown disclosure (10-K or earnings release)
In context
“component of the business. Its low single digit percentages out of total revenue. But we've still seen, as we plan, really, kind of the push to partners to perform many of those days. And also, the fact that the license that we come out with are geared towards automation, really allow us to do less of those professional service days compared to what we had to do in the past. So, when you look at kind of the renewal rates overall, we're not getting any new maintenance revenue because we're – because of the move to subscription, and that happened so quickly. So, there's really no fuel coming in. And the delta is really coming from the professional services. Unidentified Analyst: Okay. Is it fair that that line would go down a little bit more than low single digits this year? Guy Melamed: We expect it to go down single digits, yes. Unidentified Analyst: Okay. Thanks. I appreciate the color. Guy Melamed: Thank you. Operator: Our next question is from Saket Kalia with Barclays. Please proceed with your question. Saket Kalia: Hey guys, thanks for taking my questions here. Yaki, maybe for you, just to start off, can you just talk about what products in the platform you feel like are seeing the most incremental demand as the pandemic starts to abate? I mean there was a great example that you gave of a professional services firm and all the products that eventually got them to, I nine. But if you look broadly across the customer base, what's the – what are those one or two incremental products that are taking a customer from, say, five, up to six or seven on average? Yaki Faitelson: Hi, Saket. Thankfully, almost everythin”
Verify independently
SEC filings for VRNS ↗ · Claim quote is verbatim from the 2021Q1 earnings call.