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EXHIBIT 99.1 Varonis Announces Second Quarter 2021 Financial Results Total revenues grew 33 % year - over - year to $ 88.4 million in Q2 2021 Annual recurring revenues grew to $ 328.2 million , a 39 % increase over second quarter 2020 NEW YORK , Aug. 02 , 2021 ( GLOBE NEWSWIRE ) -- Varonis Systems , Inc. ( Nasdaq : VRNS ) , a pioneer in data security and analytics , today announced financial results for the second quarter ended June 30 , 2021 . Yaki Faitelson , Varonis CEO , said , " We are pleased with our second quarter results , which once again demonstrate strong execution by our team . In today's heightened threat environment , which has recently seen a number of high profile ransomware attacks , organizations around the world are thinking more strategically about securing their data , and are increasingly turning to Varonis because of our proven , data - centric technology . We believe that the data protection challenges facing companies of all sizes and industries , coupled with the strength of our offering , provide Varonis a runway for long - term sustainable growth , and that our platform innovation only further strengthens our ability to capture the vast market opportunity we see . " Financial Summary for the Second Quarter Ended June 30 , 2021 • Total revenues increased 33 % to $ 88.4 million , compared with $ 66.6 million in the second quarter of 2020 . Subscription revenues increased 70 % to $ 58.1 million , compared with $ 34.1 million in the second quarter of 2020 . ● • Maintenance and services revenues were $ 30.0 million , compared with $ 32.2 million in the second quarter of 2020 . • GAAP operating loss was ( $ 28.2 ) million , compared to GAAP operating loss of ( $ 22.1 ) million in the second quarter of 2020 . • Non - GAAP operating income was $ 1.1 million , compared to non - GAAP operating loss of ( $ 4.0 ) million in the second quarter of 2020 . The tables at the end of this press release include a reconciliation of GAAP operating loss to non - GAAP operating income ( loss ) and GAAP net loss to non - GAAP net loss for the three and six months ended June 30 , 2021 and 2020 . An explanation of these measures is included below under the heading " Non - GAAP Financial Measures and Key Performance Indicators . " Key Performance Indicators and Recent Business Highlights • Annual recurring revenues , or ARR , were $ 328.2 million as of the end of the second quarter , up 39 % over the prior year period . • As of June 30 , 2021 , 68 % of customers with 500 employees or more purchased four or more licenses , up from 58 % as of June 30 , 2020 , and 35 % purchased six or more licenses , up from 24 % as of June 30 , 2020 . • For the second quarter of 2021 , total revenues in North America increased 34 % over the prior - year period to $ 61.6 million , total revenues in EMEA increased 31 % over the prior - year period to $ 24.5 million , and total revenues from Rest of World were $ 2.3 million . • As of June 30 , 2021 , the Company had $ 813.7 million in cash and cash equivalents , marketable securities and short - term deposits . ● During the six months ended June 30 , 2021 , the Company generated $ 11.1 million of cash from operations , compared to $ 10.8 million used in the prior year period . • Introduced DatAdvantage Cloud to visualize and prioritize security risk across today's mission - critical SaaS applications and cloud data stores , including AWS , Box , GitHub , Google Drive , Jira , Okta , Salesforce , Slack , and Zoom . Announced that the Varonis Data Security Platform was selected to test new Zero Trust strategies and technologies as part of a joint effort between the U.S. National Security Agency , U.S. Cyber Command , and Defense Information Systems Agency .