“When we laid out kind of the plan in March of 2023, we talked about the transition lasting five years, we're bringing that one year shorter and we're very happy about that. We're not actually not changing that $1 billion target, and that's still at 2027”

In context

“kind of the years ahead, the SaaS offering will allow us to continue to take advantage and generate additional fuel that will support the growth of this business in the years ahead. Rob Owens: All right. Thanks for the color. Guy Melamed: Thank you. Operator: Thank you. Our final question comes from the line of Josh Tilton with Wolfe Research. Please proceed with your question. Unidentified Analyst: Hey, guys. This is Patrick on for Josh. Just a quick clarification one for me. With the transition time line being moved up a year, does that change the way we should think about the path to the 2027 long-term targets provided at the Analyst Day? And are you all now targeting Rule of 40 exiting the transition now in 2026? And what should the composition of that look like? Thanks. Guy Melamed: When we laid out kind of the plan in March of 2023, we talked about the transition lasting five years, we're bringing that one year shorter and we're very happy about that. We're not actually not changing that $1 billion target, and that's still at 2027, but I think we're extremely excited to reduce these the whole transition period and cut it by one year to four years. So the rest is kind of staying intact Unidentified Analyst: Great. Thanks. Operator: Thank you. There are no further questions at this time. And I would like to turn the floor back over to Tim Perz for closing comments. Tim Perz: Thanks for the interest in Varonis. We look forward to meeting with all of you at the conferences this quarter. Operator: This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.”