Mike Richards's questions to Varonis Systems Inc (VRNS) leadership • Q4 2024
Question
Mike Richards, on behalf of Matt Hedberg at RBC Capital Markets, inquired about potential upside to the flat net new ARR growth guidance, asking about conservative assumptions around Copilot adoption or base conversions, and the specific methods for accelerating the Phase 2 SaaS transition.
Answer
CEO Yaki Faitelson attributed the acceleration to strong customer demand for effortless data security, especially with the rise of AI agents like Copilot, which makes Varonis's automated platform a necessity. CFO and COO Guy Melamed added that the company is applying learnings from 2024 by making strategic investments in sales, support, and legal, and by starting the renewal process earlier to manage the additional paperwork associated with SaaS conversions.