What are Varonis Systems's profit margins?

Varonis Systems (VRNS) runs a 78.1% gross margin and a -22.3% operating margin, with a -19.7% net margin.

Where do Varonis Systems's ratios come from?

Every ratio is computed from Varonis Systems's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Varonis Systems VRNS Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	78.1%-4.2pp	78.8%-4.1pp	80%-4.0pp	81.5%-3.1pp	82.3%-2.8pp
Operating margin	-22.3%-2.5pp	-23.5%-2.1pp	-22%-2.7pp	-20.4%+0.9pp	-19.8%+4.2pp
Net margin	-19.7%-3.9pp	-20.7%-3.4pp	-18.8%-3.5pp	-17.3%-0.3pp	-15.9%+4.5pp
EBITDA margin	-20.1%-2.2pp	-21.5%-2.2pp	-20.3%-3.1pp	-18.7%+0.4pp	-18%+3.8pp
Free cash flow margin	18.1%-2.5pp	21.6%+1.9pp	22%+4.3pp	21%+5.3pp	20.5%+5.7pp
Returns
Return on equity	-31.8%-9.5pp	-24.5%-4.3pp	-22.2%-3.0pp	-25.7%-6.7pp	-22.2%-0.1pp
Return on assets	-8.1%-1.2pp	-7.5%-0.6pp	-7.2%-0.6pp	-7.6%+0.7pp	-6.9%+3.1pp
Return on invested capital	-34.2%-8.4pp	-28.2%-1.9pp	-27.6%-2.7pp	-30.2%+14.7pp	-25.9%+10.9pp
Efficiency
Asset turnover	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×-0.1×
Liquidity
Current ratio	1.7×+0.5×	2×+0.7×	1.8×0.0×	1.4×-1.1×	1.2×-1.2×
Quick ratio	1.7×+0.5×	2×+0.7×	1.8×0.0×	1.4×-1.1×	1.2×-1.2×
Cash ratio	0.3×+0.1×	0.3×0.0×	0.3×-0.2×	0.3×-0.2×	0.2×-0.3×
Leverage
Debt-to-equity	0.2×-0.7×	0.1×-0.6×	0.1×-0.6×	0.9×+0.8×	0.8×+0.7×
Debt-to-assets	0×-0.1×	0×-0.1×	0×-0.2×	0.2×+0.1×	0.2×+0.1×
Per Share
Book value per share	$3.92+20.0%	$5.23+28.2%	$5.26+37.8%	$3.05-25.6%	$3.26-20.6%
Valuation
Market capitalization	$2.52B-44.6%	$3.87B-22.6%	$6.44B+1.9%	$5.61B+6.3%	$4.55B-12.3%
Enterprise value	$2.41B-48.7%	$3.73B-27.0%	$6.35B+0.1%	$5.71B+10.3%	$4.7B-7.8%
Price / sales	3.8×-4.1×	6.2×-2.9×	10.6×-1.0×	9.4×-0.7×	7.9×-2.3×
Price / book	5.6×-6.8×	6.5×-4.5×	10.6×-4.1×	16.4×+4.9×	12.4×+0.9×
EV / sales	3.7×-4.5×	6×-3.3×	10.4×-1.2×	9.6×-0.3×	8.2×-1.9×
Free cash flow yield	4.7%+2.1pp	3.5%+1.3pp	2.1%+0.5pp	2.2%+0.7pp	2.6%+1.1pp
Earnings yield	-5.2%-3.2pp	-3.3%-1.4pp	-1.8%-0.5pp	-1.8%-0.2pp	-2%0.0pp

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Questions, answered.

What are Varonis Systems's profit margins?: Varonis Systems (VRNS) runs a 78.1% gross margin and a -22.3% operating margin, with a -19.7% net margin.
Where do Varonis Systems's ratios come from?: Every ratio is computed from Varonis Systems's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.