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Q4 Company NEWS RELEASE Varonis Announces Third Quarter 2021 Financial Results 11/1/2021 Total quarterly revenues surpassed $ 100 million for the first time Total revenues grew 31 % year - over - year to $ 100.4 million in Q3 2021 Annual recurring revenues grew to $ 354.2 million , a 36 % increase over third quarter 2020 NEW YORK , Nov. 01 , 2021 ( GLOBE NEWSWIRE ) -- Varonis Systems , Inc. ( Nasdaq : VRNS ) , a pioneer in data security and analytics , today announced financial results for the third quarter ended September 30 , 2021 . Yaki Faitelson , Varonis CEO , said , " Our third quarter results were strong and marked our first quarter with over $ 100 million in revenues , an achievement we see as only scratching the surface of the enormous opportunity ahead of us . We continue to see greater adoption of our platform by new customers and healthy expansion from existing customers wanting to broaden their Varonis deployment , as the digital transformation has fundamentally changed how companies must approach securing their sensitive data . We believe that the robust customer engagement trends we see leave us well positioned for a strong close to 2021 and beyond . " Financial Summary for the Third Quarter Ended September 30 , 2021 • Total revenues increased 31 % to $ 100.4 million , compared with $ 76.8 million in the third quarter of 2020 . • Subscription revenues increased 59 % to $ 70.0 million , compared with $ 44.1 million in the third quarter of • 2020 . Maintenance and services revenues were $ 30.0 million , compared with $ 32.3 million in the third quarter of 2020 . GAAP operating loss was ( $ 18.6 ) million , compared to GAAP operating loss of ( $ 16.5 ) million in the third 1