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MIAMI - Varonis Systems, Inc. (NASDAQ: VRNS), a leader in data security with a market capitalization of $4.68 billion and impressive gross profit margins of 83%, announced today the release of Varonis for Agentforce, a new addition to its security solutions designed to provide enhanced visibility and control over artificial intelligence (AI) agents within Salesforce’s Agentforce platform. According to InvestingPro analysis, the company currently trades near its 52-week low of $39.62.
Agentforce, the AI layer of Salesforce, enables organizations to deploy autonomous AI agents that can automate various business functions across sales, service, marketing, commerce, and more. These agents are capable of connecting to enterprise data and executing a wide array of business processes at scale.
The latest offering from Varonis, Varonis for Agentforce, aims to give IT and security teams a comprehensive view of all AI agents, detailing their purpose and actions. This "single pane of glass" approach is intended to help monitor connections to enterprise data sources and identify potential security risks.
David Bass, Varonis EVP of Engineering and Chief Technology Officer, emphasized the importance of security in the context of agentic AI, stating, "Agentic AI will revolutionize routine work but introduces new security challenges that can expose sensitive data." He further explained that understanding the AI agents and their access to data is crucial for monitoring and managing risk.
Varonis for Agentforce builds upon the company’s existing Salesforce security solutions, which focus on risk understanding, automatic exposure fixing, and attack prevention on customer relationship management (CRM) systems.
Organizations interested in evaluating their Salesforce security posture can request a complimentary Varonis Data Risk Assessment. The new security tool is now available on Salesforce’s AppExchange.
This announcement is based on a press release statement from Varonis Systems, Inc.
In other recent news, Varonis Systems reported its financial results for the fourth quarter of 2024, revealing a 3% year-over-year revenue increase to $158.5 million. The company’s earnings per share (EPS) exceeded expectations, coming in at $0.18 compared to the forecasted $0.14. Despite these positive earnings figures, revenue fell short of the anticipated $165.17 million, which contributed to broader market concerns. Varonis is also accelerating its transition to a Software-as-a-Service (SaaS) model, with plans to complete this shift by the end of 2025. Annual recurring revenue (ARR) saw an 18% increase, reaching $641.9 million, with SaaS now accounting for 53% of total ARR. In other developments, Varonis has opted for a physical settlement method for its 1.250% Convertible Senior Notes due in 2025, a decision that will affect all future conversions. The company also expanded its operations by establishing new data centers in Mumbai and Pune, India, to help customers meet local data sovereignty regulations. These developments highlight Varonis Systems’ ongoing strategic moves to enhance its market position and service offerings.
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