Varonis Systems (VRNS) Operating Margin (2013 - 2026)
Varonis Systems (VRNS) posted Operating Margin of 22.57% for Q2 2026, up 12.15% on a QoQ basis from 25.69% in Q1 2026, and up 145.0% year-over-year from 9.21% in Q2 2025.
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Varonis Systems (VRNS) Operating Margin (2013 - 2026) Analysis & Trends
Varonis Systems has reported Operating Margin for 14 years, with the latest figure at 22.57% in Q2 2026.
- On a quarterly basis, Operating Margin rose 145.0% year-over-year to 22.57% in Q2 2026; TTM through Jun 2026 was 21.99%, a 157.0% decrease from a year earlier, with the FY2025 full-year figure at 23.5%, down 214.0% from the prior year.
- Operating Margin was 22.57% for Q2 2026 at Varonis Systems, up from 25.69% in the prior quarter.
- The five-year high for Operating Margin was 3.4% in Q4 2023, with the low at 49.95% in Q1 2022.
- Average Operating Margin over 5 years is 24.9%, with a median of 23.2% recorded in 2023.
- The largest YoY upside for Operating Margin was 1230 bps in 2024 against a maximum downside of 767 bps in 2024.
- Over 5 years, Operating Margin stood at 7.01% in 2022, then surged by 51 bps to 3.4% in 2023, then sank by 225 bps to 11.07% in 2024, then tumbled by 58 bps to 17.46% in 2025, then slipped by 29 bps to 22.57% in 2026.
- The last three Operating Margin figures came in at 22.57% (Q2 2026), 25.69% (Q1 2026), and 17.46% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 269.46 Bn | 266.34 Bn | 2.03 Bn | -6.10% |
| 2 | CrowdStrike Holdings | 213.75 Bn | 208.74 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 115.33 Bn | 111.27 Bn | 1.64 Bn | 33.66% |
| 4 | Axon Enterprise | 40.70 Bn | 40.03 Bn | 546.45 Mn | 5.17% |
| 5 | Zscaler | 25.94 Bn | 22.46 Bn | - | - |
| 6 | F5 | 22.10 Bn | 20.50 Bn | 711.51 Mn | 24.65% |
| 7 | Rubrik | 18.86 Bn | 17.11 Bn | 335.12 Mn | -16.83% |
| 8 | Gen Digital | 17.83 Bn | 17.27 Bn | 1.03 Bn | 33.16% |
| 9 | Check Point Software Technologies | 14.27 Bn | 11.99 Bn | 574.10 Mn | 27.48% |
| 10 | Varonis Systems | 5.21 Bn | 4.55 Bn | 135.51 Mn | -22.57% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -22.57% |
| Mar 31, 2026 | -25.69% |
| Dec 31, 2025 | -17.46% |
| Sep 30, 2025 | -22.24% |
| Jun 30, 2025 | -24.02% |
| Mar 31, 2025 | -32.08% |
| Dec 31, 2024 | -11.07% |
| Sep 30, 2024 | -15.97% |
| Jun 30, 2024 | -22.11% |
| Mar 31, 2024 | -41.78% |
| Dec 31, 2023 | -3.40% |
| Sep 30, 2023 | -23.83% |
| Jun 30, 2023 | -34.41% |
| Mar 31, 2023 | -40.17% |
| Dec 31, 2022 | -7.01% |
| Sep 30, 2022 | -20.75% |
| Jun 30, 2022 | -33.71% |
| Mar 31, 2022 | -49.95% |
| Dec 31, 2021 | -14.09% |
| Sep 30, 2021 | -18.49% |