“we expect that this will also help the renewal rates as customers get greater value from our products”

In context

“which once our salesforce gets past the initial ramp-up phase and is fully trained on the new selling motion, should help shortening of sales-cycles; Second, customers will be able to more quickly and easily deploy and maintain our solutions with significantly reduced infrastructure requirements and lower upfront costs; we expect that this will have the effect of customers realizing a faster time-to-value, which should ultimately be beneficial to us in contract renewals. Third, Varonis will have more visibility into usage, behaviors and the ability to spot threats more quickly, which will better inform our product innovation; Fourth, customers will benefit from continual threat model and classification updates that will help them stay prepared for new and evolving threats and regulations; we expect that this will also help the renewal rates as customers get greater value from our products; And finally, the SaaS model will allow us to deliver additional features and functionality to customers more efficiently. Taken together, these enhancements create significant value for our customers, and in turn, we expect them to continue driving meaningful growth for us as the macroeconomic situation ultimately improves. In closing, we founded Varonis to help customers solve their most urgent data protection needs and today’s launch marks an important milestone in helping them achieve that goal with additional flexibility. We believe the introduction of our SaaS delivered flagship Data Security Platform will drive significant long-term value for our shareholders as we continue our march towards $1 billion in ARR and beyond. With that, let me turn the call over to Guy. Guy? Guy Melamed”