CLAIM #64724 · Varonis Systems (VRNS) · 2022Q1 earnings call · May 2, 2022 · due Dec 31, 2022
“So when we look at the pipeline and when we look at the conversations and when we look at the activity, we feel very good about our ability to continue to grow kind of the European business.”
Guy Melamed · CFO
How to check this claim
Look at: EMEA regional revenue growth rate (year-over-year), as reported by the company
It came true if: EMEA revenue growth rate in subsequent quarters of FY2022 higher than the ~20% reported in Q1 2022, adjusted context permitting
Where: Company quarterly earnings release/call - regional revenue breakdown
In context
“y the Russia impact there, but I mean by my math you know your EMEA business showed a pretty decent growth deceleration. I think it was probably the weakest growth quarter in five. So I guess I want a little more detail into you know – I don't care if it's Eastern Europe, Western Europe, you know your confidence level that that business performed to expectation from a bookings and billing standpoint in the quarter and that you're going to see some growth acceleration from here in EMEA throughout the year. A - Guy Melamed: Chad, you're absolutely right. When you look at EMEA and just for clarity purposes, Russia is part of EMEA and when you look at those numbers, EMEA grew at 20% in Q1, but on top of the Russia impact we had close to 400 basis points of currency headwind versus last year. So when we look at the pipeline and when we look at the conversations and when we look at the activity, we feel very good about our ability to continue to grow kind of the European business. And when you put all of this together, both the Russia and the currency headwinds, it paints a very different picture. Operator: Thank you. Our next question comes from Jason Ader with William Blair. Please proceed with your question. Billy Fitzsimmons: Hey guys! This is Billy Fitzsimmons on for Jason Ader. Yaki, for you first. Any anecdotes from customers as you roll out the A Cloud or any feedback from customers given your features for the salesforce you announced in the quarter. And then I’d also – sorry, then I'd also ask, any feedback on kind of the effectiveness of you know the free risk assessment? Yaki Faitelson: It’s the same thing as the – a lot of the platform, it’s the same features, but now definitely with just the release of the new functions for salesforce, we see a lot”
Verify independently
SEC filings for VRNS ↗ · Claim quote is verbatim from the 2022Q1 earnings call.