Mark's questions to Varonis Systems Inc (VRNS) leadership • Q1 2025
Question
Mark from Citigroup Inc., on for Fatima Boolani, asked for more detail on the drivers of new logo momentum and how to think about the contribution mix between new customers and conversions.
Answer
CFO and COO Guy Melamed explained that the superior MDDR and generative AI offerings have increased the company's TAM and simplified the value proposition, driving strong new customer adoption. He noted that the sales force has done a 'really good job' of balancing the focus on acquiring new customers while also efficiently executing on conversions, leading to the strong overall results and raised guidance.