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MIAMI and TOKYO - Varonis Systems, Inc. (NASDAQ:VRNS), a $4.32 billion market cap company specializing in data security with impressive gross profit margins of 83%, today announced the appointment of Toshi Namiki as the Country Manager for Japan. According to InvestingPro data, the company has maintained strong revenue growth of 10.4% over the last twelve months. Namiki, a seasoned professional with over two decades of experience in the technology sector, has a background that includes roles at Deep Instinct, Forescout Technologies, Palo Alto Networks, and VeriSign.
In his previous positions, Namiki has been instrumental in spearheading international sales efforts and introducing advanced technology solutions to the Japanese market. His work has significantly influenced the adoption of innovative software and cybersecurity solutions across Japan’s key industries such as manufacturing, technology, and automotive.
Varonis emphasized the importance of Namiki’s expertise in a region generating vast amounts of data, particularly as companies navigate the complexities of securing information in the age of artificial intelligence (AI). This strategic move comes as the company’s stock trades near its 52-week low of $37.81, despite maintaining a robust five-year revenue CAGR of 17% according to InvestingPro analysis. Scott Leach, Varonis Vice President of APAC, noted that Namiki’s track record for implementing cutting-edge solutions will be vital for Varonis’s growth and expansion in the local market.
The company’s expansion in the Asia-Pacific (APAC) region aligns with efforts to assist customers in adhering to local governance standards, including Japan’s Act on the Protection of Personal Information. This law mandates companies to implement security measures to safeguard personal data from unauthorized access, loss, or damage.
Varonis’s suite of solutions includes tools for data security posture management, data classification, data access governance, and insider risk management, among others. These offerings are aimed at helping organizations defend their data across various environments, including SaaS, IaaS, and hybrid cloud.
This strategic appointment is part of Varonis’s broader initiative to enhance its presence in APAC and support organizations in securing their sensitive data. The information for this article is based on a press release statement and financial data from InvestingPro, which offers comprehensive research reports on over 1,400 US stocks, including detailed analysis of Varonis’s growth trajectory and market position. Subscribers gain access to 10 additional exclusive ProTips and in-depth financial metrics to make informed investment decisions.
In other recent news, Varonis Systems reported a 3% increase in revenue for the fourth quarter of 2024, reaching $158.5 million. The company exceeded earnings per share expectations with $0.18 against a forecast of $0.14, although revenue fell short of the expected $165.17 million. Wolfe Research upgraded Varonis Systems’ stock rating from Peerperform to Outperform, citing positive survey data and the company’s transition to a SaaS model, with a price target set at $50. The company’s annual recurring revenue (ARR) grew by 18% to $641.9 million, with SaaS now accounting for 53% of total ARR.
Varonis recently launched a new AI security tool for Salesforce’s Agentforce platform, aiming to enhance visibility and control over AI agents. Additionally, the company has expanded its operations by establishing new data centers in Mumbai and Pune, India, to comply with local data sovereignty regulations. In a strategic financial move, Varonis opted for physical settlement of its 1.250% Convertible Senior Notes due in 2025, allowing note holders to receive shares of the company’s common stock upon conversion. These developments reflect Varonis Systems’ ongoing efforts to strengthen its market position and expand its service offerings.
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