Varonis Systems (VRNS) Operating Expenses (2013 - 2026)
Varonis Systems' (VRNS) quarterly Operating Expenses came in at $176.0 million in Q1 2026, up 16.45% year-on-year from $151.2 million in Q1 2025, and up 5.37% quarter-over-quarter from $167.1 million in Q4 2025.
Varonis Systems (VRNS) Operating Expenses (2013 - 2026) Analysis & Trends
Varonis Systems' Operating Expenses history runs 14 years deep, the most recent figure standing at $176.0 million for Q1 2026.
- On a quarterly basis, Operating Expenses rose 16.45% year-over-year to $176.0 million in Q1 2026; TTM through Mar 2026 was $662.9 million, a 13.2% increase from a year earlier, with the FY2025 full-year figure at $638.1 million, up 11.02% from the prior year.
- Operating Expenses advanced to $176.0 million in Q1 2026 per VRNS's latest filing, from $167.1 million in the prior quarter.
- Across five years, Operating Expenses topped out at $176.0 million in Q1 2026 and bottomed at $126.5 million in Q1 2022.
- The 5-year median for Operating Expenses is $140.0 million (2023), against an average of $144.6 million.
- Across the five-year window, Operating Expenses soared 32.67% in 2022 and retreated 0.73% in 2024, its largest moves.
- Year by year, Operating Expenses stood at $135.6 million in 2022, then increased by 3.26% to $140.0 million in 2023, then grew by 7.15% to $150.0 million in 2024, then rose by 11.37% to $167.1 million in 2025, then increased by 5.37% to $176.0 million in 2026.
- Per Business Quant, the three latest VRNS Operating Expenses figures stand at $176.0 million (Q1 2026), $167.1 million (Q4 2025), and $162.4 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,921.46 Bn | 2,797.02 Bn | 56.06 Bn | 8.75 Bn |
| 2 | PagSeguro Digital | 2,686.70 Bn | 2,686.70 Bn | 358.92 Mn | -363.49 Mn |
| 3 | Oracle | 344.13 Bn | 312.24 Bn | - | 13.05 Bn |
| 4 | Repay Holdings | 342.29 Bn | 342.15 Bn | - | - |
| 5 | Palantir Technologies | 294.57 Bn | 286.54 Bn | 1.42 Bn | 662.79 Mn |
| 6 | Palo Alto Networks | 224.46 Bn | 219.93 Bn | 1.91 Bn | 1.51 Bn |
| 7 | CrowdStrike Holdings | 182.52 Bn | 179.42 Bn | 993.68 Mn | 979.89 Mn |
| 8 | Fortinet | 111.29 Bn | 107.99 Bn | 1.49 Bn | 905.10 Mn |
| 9 | Cloudflare | 93.63 Bn | 92.68 Bn | 455.60 Mn | 517.59 Mn |
| 10 | Varonis Systems | 5.19 Bn | 4.97 Bn | 131.56 Mn | 176.04 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 176.04 Mn |
| Dec 31, 2025 | 167.07 Mn |
| Sep 30, 2025 | 162.36 Mn |
| Jun 30, 2025 | 157.47 Mn |
| Mar 31, 2025 | 151.17 Mn |
| Dec 31, 2024 | 150.01 Mn |
| Sep 30, 2024 | 147.70 Mn |
| Jun 30, 2024 | 136.74 Mn |
| Mar 31, 2024 | 140.31 Mn |
| Dec 31, 2023 | 140.00 Mn |
| Sep 30, 2023 | 134.07 Mn |
| Jun 30, 2023 | 137.75 Mn |
| Mar 31, 2023 | 132.81 Mn |
| Dec 31, 2022 | 135.58 Mn |
| Sep 30, 2022 | 131.69 Mn |
| Jun 30, 2022 | 131.22 Mn |
| Mar 31, 2022 | 126.54 Mn |
| Dec 31, 2021 | 127.03 Mn |
| Sep 30, 2021 | 104.57 Mn |
| Jun 30, 2021 | 102.45 Mn |