Varonis Systems (VRNS) Operating Expenses (2013 - 2026)
Varonis Systems (VRNS) posted Operating Expenses of $176.1 million for Q2 2026, little changed on a QoQ basis from $176.0 million in Q1 2026, and up 11.86% year-over-year from $157.5 million in Q2 2025.
Analysis
Varonis Systems (VRNS) Operating Expenses (2013 - 2026) Analysis & Trends
Varonis Systems has reported Operating Expenses for 14 years, with the latest figure at $176.1 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 11.86% year-over-year to $176.1 million in Q2 2026; TTM through Jun 2026 was $681.6 million, a 12.41% increase from a year earlier, with the FY2025 full-year figure at $638.1 million, up 11.02% from the prior year.
- Operating Expenses was $176.1 million for Q2 2026 at Varonis Systems, roughly flat from $176.0 million in the prior quarter.
- The five-year high for Operating Expenses was $176.1 million in Q2 2026, with the low at $126.5 million in Q1 2022.
- Average Operating Expenses over 5 years is $146.4 million, with a median of $140.2 million recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses surged 32.67% in 2022, then fell 0.73% in 2024.
- Over 5 years, Operating Expenses stood at $135.6 million in 2022, then rose by 3.26% to $140.0 million in 2023, then increased by 7.15% to $150.0 million in 2024, then gained by 11.37% to $167.1 million in 2025, then increased by 5.43% to $176.1 million in 2026.
- The last three Operating Expenses figures came in at $176.1 million (Q2 2026), $176.0 million (Q1 2026), and $167.1 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 269.80 Bn | 266.69 Bn | 2.03 Bn | 2.21 Bn |
| 2 | CrowdStrike Holdings | 213.58 Bn | 208.57 Bn | 1.10 Bn | 1.13 Bn |
| 3 | Fortinet | 115.34 Bn | 111.27 Bn | 1.64 Bn | 953.90 Mn |
| 4 | Axon Enterprise | 40.83 Bn | 40.15 Bn | 546.45 Mn | 499.67 Mn |
| 5 | Zscaler | 26.15 Bn | 22.68 Bn | - | - |
| 6 | F5 | 22.17 Bn | 20.57 Bn | 711.51 Mn | 498.25 Mn |
| 7 | Rubrik | 18.93 Bn | 17.18 Bn | 335.12 Mn | 407.03 Mn |
| 8 | Gen Digital | 17.81 Bn | 17.25 Bn | 1.03 Bn | 586.00 Mn |
| 9 | Check Point Software Technologies | 14.29 Bn | 12.01 Bn | 574.10 Mn | 488.50 Mn |
| 10 | Varonis Systems | 5.20 Bn | 4.54 Bn | 135.51 Mn | 176.14 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 176.14 Mn |
| 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 |