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CLAIM #64674 · Varonis Systems (VRNS) · 2021Q2 earnings call · Aug 2, 2021 · due Aug 2, 2022

We have a great team, like Yaki said, and we believe that that percentage can be higher.

Guy Melamed · CFO

PENDING
graded after results covering Aug 2, 2022 are reported

How to check this claim

Look at: Federal vertical revenue as a percentage of total revenue

It came true if: Federal revenue percentage of total revenue > mid-single digits (i.e., exceeds approximately 6%)

Where: Management commentary on quarterly earnings calls (federal vertical revenue mix disclosure)

In context

ala: I just wanted to maybe get a little bit more color on the pipeline as it relates to federal heading in Q3 in particular. Just an update on -- can you give us any sort of rough sense of how much of your sales are coming from that vertical and how that pipeline has been coming together after some recent product announcements and some go-to-market initiatives there? Yaki Faitelson: We are entering the quarter with a good pipeline. We have a great team in place, and we’re positioned to do very well. Obviously, this is the quarter for -- this is the quarter that federal is doing a lot of its business. And again, we’re positioned to do very well. And obviously, we are going to update on the November call. Guy Melamed: And the federal has been roughly mid-single digits out of total revenue. We have a great team, like Yaki said, and we believe that that percentage can be higher. But it’s still to date has been in that range. I know other companies had a much larger component of their business coming from federal, and we believe we can continue to expand there. Operator: Our next question is from Chad Bennett of Craig-Hallum. Chad Bennett: Great. Thanks for taking my question. Nice job on the quarter again. So, just maybe now that we’re maybe in our second yearish of kind of scale, net expansion in the business, maybe I’m cutting you short, but just -- are we at a point just because you’re seeing so rapid license expansion, whether it’s upfront or just on cross-sell, upsell, are we to the point where we might be seeing kind of co-terming or early renewals that may either, good or bad, impact kind of billings for a quarter positively or negatively, or is that not a

Verify independently

SEC filings for VRNS · Claim quote is verbatim from the 2021Q2 earnings call.