CLAIM #64867 · Varonis Systems (VRNS) · 2023Q4 earnings call · Feb 5, 2024 · due Dec 31, 2024
“We believe that we will see those trends that I've talked about, kind of work in our favour over the year.”
Guy Melamed · CFO
How to check this claim
Look at: Full-year revenue growth (and/or guidance raises during the year) versus initial FY2024 guidance issued in February
It came true if: Company raises full-year revenue/ARR guidance at least once during FY2024, or actual full-year revenue growth exceeds the initial guidance midpoint given in February 2024
Where: Company quarterly earnings releases and guidance updates (Q1-Q4 2024 calls, FY2024 10-K)
In context
“es that we've seen happen for years, there's additional drivers and tailwinds that we've really never seen before. Yaki talked about the Copilot, there's the cyber-security SEC regulation and also what we believe is a game changer for us, which is the MDDR, which we just introduced. But you have to remember, our sales cycles are three months on the shorter end and up to 12 months on the larger deals. So when you look at kind of us sitting here right now and looking at the philosophy that we've guided for in the past for many, many years. It's not something that we have done in the past to bake in positive assumptions into our guidance without seeing the data that supports it. So it's really a starting point for the year. We're sitting here in February, and there's a long year ahead of us. We believe that we will see those trends that I've talked about, kind of work in our favour over the year. And as we have done in the past, we'll be happy to update our guidance as the year progresses. But as I mentioned, there's a lot of things that are working in our favour that we haven't seen in the past. Andrew Nowinski: Yeah, it certainly seems like that. All right. Thank you very much Guy Melamed: Thank you. Operator: Thank you. Our next question comes from the line of Fatima Boolani with Citi. Please proceed with your question. Fatima Boolani: Thank you. Good afternoon. Thank you for taking my questions. Guy, this one is for you. I was hoping you could help unpack for us how much of the expected operating margin degradation that you're anticipating this year is more due to the fact that the transition is actually accelerating because you did pull forward that timeline. So certainly, we”
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SEC filings for VRNS ↗ · Claim quote is verbatim from the 2023Q4 earnings call.