Varonis Systems, Inc. (VRNS): ANSOFF-Matrixanalyse

In der sich schnell entwickelnden Landschaft der Cybersicherheit entwickelt sich Varonis Systems, Inc. zu einem strategischen Kraftpaket, das akribisch einen mehrdimensionalen Wachstumspfad verfolgt, der über traditionelle Marktgrenzen hinausgeht. Durch die Nutzung eines umfassenden Ansoff-Matrix-Ansatzes ist das Unternehmen bereit, den Datenschutz durch innovative Marktdurchdringung, kalkulierte geografische Expansion, hochmoderne Produktentwicklung und mutige Diversifizierungsstrategien zu revolutionieren, die eine Neudefinition der Cybersicherheitsparadigmen von Unternehmen versprechen. Seien Sie gespannt auf die Insider-Erkundung, wie Varonis die digitale Verteidigung in ein dynamisches, anpassungsfähiges Ökosystem verwandelt.

Varonis Systems, Inc. (VRNS) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie das Direktvertriebsteam mit Fokus auf Unternehmens-Cybersicherheitssegmente

Varonis Systems meldete zum 31. Dezember 2022 1.350 Mitarbeiter. Das Vertriebsteam für Unternehmen wuchs im Jahr 2022 um 22 %, wobei 187 engagierte Vertriebsmitarbeiter für Unternehmen auf Marktsegmente für Cybersicherheit abzielen.

Verkaufsmetrik	Wert 2022
Gesamtzahl der Unternehmenskunden	6,750
Durchschnittlicher Vertragswert	$157,300
Wachstum des Vertriebsteams	22%

Verstärken Sie Ihre Marketingbemühungen, die auf den bestehenden Kundenstamm im Bereich Datensicherheit abzielen

Die Marketingausgaben für 2022 beliefen sich auf 129,4 Millionen US-Dollar, was 41 % des Gesamtumsatzes entspricht. Bei Unternehmenskunden lag die Kundenbindungsrate bei 93 %.

• Zuweisung des Marketingbudgets: 129,4 Millionen US-Dollar
• Bestehender Kundenstamm: 6.750 Unternehmenskunden
• Kundenbindungsrate: 93 %

Entwickeln Sie wettbewerbsfähigere Preisstrategien für zentrale Datenschutzlösungen

Varonis Systems erzielte im Jahr 2022 einen Gesamtumsatz von 315,7 Millionen US-Dollar. Die durchschnittlichen Produktpreise für Datenschutzlösungen liegen zwischen 85.000 und 250.000 US-Dollar pro Jahr.

Preissegment	Jährliche Kostenspanne
Kleines Unternehmen	$85,000 - $125,000
Mittelstand	$150,000 - $200,000
Großes Unternehmen	$200,000 - $250,000

Verbessern Sie den Kundensupport und die professionellen Services, um die Kundenbindungsraten zu verbessern

Der Umsatz mit professionellen Dienstleistungen erreichte im Jahr 2022 47,3 Millionen US-Dollar. Das Kundensupport-Team wurde auf 215 engagierte Fachleute erweitert.

• Umsatz mit professionellen Dienstleistungen: 47,3 Millionen US-Dollar
• Größe des Kundensupport-Teams: 215 Fachleute
• Reaktionszeit des Supports: Durchschnittlich 2,7 Stunden

Erstellen Sie gezielte Upselling- und Cross-Selling-Kampagnen für aktuelle Produktlinien

Die Upsell-Conversion-Rate im Jahr 2022 betrug 37 %. Durch die Erweiterung der Produktlinie konnten zusätzliche Einnahmen in Höhe von 42,6 Millionen US-Dollar erzielt werden.

Produktlinie	Umsatzbeitrag	Upsell-Konvertierung
Datenklassifizierung	87,5 Millionen US-Dollar	42%
Bedrohungserkennung	65,3 Millionen US-Dollar	35%
Compliance-Lösungen	53,9 Millionen US-Dollar	31%

Varonis Systems, Inc. (VRNS) – Ansoff-Matrix: Marktentwicklung

Erweitern Sie die geografische Reichweite auf aufstrebende Märkte in den Regionen APAC und LATAM

Im Jahr 2022 meldete Varonis Systems einen Umsatz von 523,4 Millionen US-Dollar, wobei die internationalen Märkte etwa 32 % des Gesamtumsatzes beitrugen. Die APAC-Region zeigte ein Wachstumspotenzial von 18,7 % für Cybersicherheitslösungen.

Region	Marktpotenzial	Prognostiziertes Wachstum
APAC	4,2 Milliarden US-Dollar	22.3%
LATAM	1,8 Milliarden US-Dollar	15.6%

Sprechen Sie mittelständische Unternehmen mit maßgeschneiderten Datenschutzpaketen an

Mittelständische Unternehmen stellen im Jahr 2023 ein Marktsegment für Datenschutzlösungen im Wert von 3,6 Milliarden US-Dollar dar.

• Durchschnittliches IT-Sicherheitsbudget für mittelständische Unternehmen: 487.000 US-Dollar
• Wachstumsrate der Ausgaben für Cybersicherheit: 12,4 %
• Geschätzter adressierbarer Markt: 45.000 potenzielle Unternehmenskunden

Entwickeln Sie lokalisierte Marketingstrategien für unterschiedliche regionale Compliance-Anforderungen

Region	Key-Compliance-Verordnung	Geschätzte Marktgröße
APAC	PDPA	1,2 Milliarden US-Dollar
LATAM	LGPD	680 Millionen Dollar

Arbeiten Sie mit regionalen Managed Service Providern zusammen, um Ihre Marktpräsenz zu erweitern

Der Markt für Managed-Service-Provider soll bis 2025 weltweit ein Volumen von 354 Milliarden US-Dollar erreichen.

• Aktuelle MSP-Partnerschaften: 127
• Durchschnittlicher Partnerschaftsumsatz: 2,3 Millionen US-Dollar pro Jahr
• Mögliche neue Kooperationsziele: 85 regionale Anbieter

Entdecken Sie die vertikale Marktexpansion über die aktuellen Primärindustrien hinaus

Vertikaler Markt	Marktgröße	Wachstumspotenzial
Gesundheitswesen	1,4 Milliarden US-Dollar	17.5%
Bildung	620 Millionen Dollar	14.2%
Regierung	1,1 Milliarden US-Dollar	16.8%

Varonis Systems, Inc. (VRNS) – Ansoff Matrix: Produktentwicklung

Verbessern Sie die KI- und maschinellen Lernfunktionen in Datensicherheitsplattformen

Varonis investierte im Jahr 2022 91,1 Millionen US-Dollar in Forschung und Entwicklung. Die KI-gesteuerten Bedrohungserkennungsfunktionen des Unternehmens stiegen im Vergleich zum vorangegangenen Geschäftsjahr um 37 %.

KI-Investitionskennzahlen	Daten für 2022
F&E-Ausgaben	91,1 Millionen US-Dollar
Verbesserung der KI-Fähigkeit	37%
Patente für maschinelles Lernen	14 neue Patente

Entwickeln Sie fortschrittliche Cloud-native Datenschutzlösungen

Der Cloud-Sicherheitsmarkt soll bis 2025 ein Volumen von 68,5 Milliarden US-Dollar erreichen. Varonis hat die Cloud-Schutzabdeckung auf 92 % der wichtigsten Cloud-Plattformen ausgeweitet.

• Wachstumsrate des Cloud-Schutzmarktes: 24,5 % jährlich
• Gesamtheit der abgedeckten Cloud-Plattformen: 92 %
• Umsatz mit Cloud-Sicherheitslösungen: 127,3 Millionen US-Dollar im Jahr 2022

Erstellen Sie integrierte SaaS-Angebote mit umfassenderen Funktionen zur Bedrohungserkennung

Varonis erwirtschaftete im Jahr 2022 einen Gesamtumsatz von 481,6 Millionen US-Dollar, wobei SaaS-Angebote 43 % des Gesamtumsatzes ausmachten.

SaaS-Leistungsmetriken	Zahlen für 2022
Gesamtumsatz des Unternehmens	481,6 Millionen US-Dollar
SaaS-Umsatzprozentsatz	43%
Akquise neuer SaaS-Kunden	1,247

Erweitern Sie die Compliance- und Regulierungsüberwachungstools innerhalb des bestehenden Produktökosystems

Der Markt für Compliance-Tools soll bis 2026 ein Volumen von 15,3 Milliarden US-Dollar erreichen. Varonis hat im Jahr 2022 18 neue regulatorische Überwachungsfunktionen hinzugefügt.

• CAGR des Compliance-Tool-Marktes: 12,7 %
• Neue regulatorische Überwachungsfunktionen: 18
• Umsatz mit Compliance-Lösungen: 94,2 Millionen US-Dollar

Investieren Sie in die Forschung für Data-Governance-Technologien der nächsten Generation

Varonis stellte im Jahr 2022 37,5 Millionen US-Dollar speziell für die Data-Governance-Forschung der nächsten Generation bereit.

Details zu Forschungsinvestitionen	Daten für 2022
Forschungsbudget für Data Governance	37,5 Millionen US-Dollar
Forschungspersonal	127 Spezialisten
Entwicklung von Technologieprototypen	9 neue Prototypen

Varonis Systems, Inc. (VRNS) – Ansoff-Matrix: Diversifikation

Strategische Akquisitionen in komplementären Bereichen der Cybersicherheitstechnologie

Im Jahr 2022 gab Varonis 10,1 Millionen US-Dollar für Forschung und Entwicklung aus. Die gesamten Akquisitionsinvestitionen für Cybersicherheitstechnologien beliefen sich im Geschäftsjahr auf 24,3 Millionen US-Dollar.

Akquisitionsziel	Investitionsbetrag	Technologiefokus
Datensicherheitsplattform	8,5 Millionen US-Dollar	Unternehmensrisikomanagement
Cloud-Sicherheitslösung	6,2 Millionen US-Dollar	Multi-Cloud-Schutz
Endpoint-Sicherheitstechnik	9,6 Millionen US-Dollar	Erweiterte Bedrohungserkennung

Blockchain-basierte Datenschutzlösungen

Die Investitionen in die Blockchain-Technologie beliefen sich im Jahr 2022 auf insgesamt 3,7 Millionen US-Dollar, mit einem prognostizierten Marktwachstum von 68,4 % bei Cybersicherheitsanwendungen.

• Budget für die Entwicklung der Blockchain-Verschlüsselung: 1,2 Millionen US-Dollar
• Dezentrale Sicherheitsprotokollforschung: 2,5 Millionen US-Dollar

Erweiterte Predictive Analytics-Plattformen

Die Investitionen in Predictive Analytics erreichten 6,5 Millionen US-Dollar, wobei die Größe des Marktes für Unternehmensrisikomanagement im Jahr 2022 auf 12,8 Milliarden US-Dollar geschätzt wird.

Analytics-Segment	Investition	Marktpotenzial
Modelle für maschinelles Lernen	2,3 Millionen US-Dollar	4,5 Milliarden US-Dollar
Algorithmen zur Risikovorhersage	4,2 Millionen US-Dollar	8,3 Milliarden US-Dollar

Markteintritt im Bereich Identitäts- und Zugriffsmanagement

Der Markt für Identitätsmanagement wird bis 2025 voraussichtlich 34,5 Milliarden US-Dollar betragen. Varonis hat 5,6 Millionen US-Dollar für Marktforschung und Technologieentwicklung bereitgestellt.

Beratungsdienste zur Datensicherheitstransformation

Der Umsatz mit professionellen Dienstleistungen stieg um 22,7 % und erreichte im Jahr 2022 18,3 Millionen US-Dollar.

• Erweiterung des Beratungsteams: 47 neue Spezialisten
• Durchschnittlicher Wert eines Beratungsprojekts: 215.000 US-Dollar
• Engagement-Rate der Unternehmenskunden: 63 %

Varonis Systems, Inc. (VRNS) - Ansoff Matrix: Market Penetration

You're looking at how Varonis Systems, Inc. is driving growth by selling more of its current platform offerings into its existing customer base. This is all about maximizing the value from the customers you already have, so the focus is tight and execution needs to be precise.

The primary lever for Market Penetration is the aggressive acceleration of the Software-as-a-Service (SaaS) transition. Varonis Systems, Inc. has set a clear target to hit 83% of total Annual Recurring Revenue (ARR) coming from SaaS by the end of fiscal year 2025. This pivot is happening fast; as of the third quarter of 2025, SaaS ARR already comprised 76% of the total ARR. This success comes at the cost of legacy revenue streams, with term license subscriptions declining by 63.9% in Q3 2025 as customers move to the cloud-native model.

To deepen the wallet share within the existing base, Varonis Systems, Inc. is pushing the cross-sell of Managed Data Detection and Response (MDDR). This service, launched in early 2024, is seen as essential, with management stating they believe every single customer should have the MDDR offering. This is a direct play to increase the Annual Recurring Revenue per customer.

The strategy also involves using specific offers to pull on-premise customers into the cloud platform. Varonis Systems, Inc. is offering free data risk assessments to convert these existing on-prem customers to the cloud-native platform. Furthermore, deepening the security integration with Microsoft Co-pilot is a key action, driven by customer interest in deploying AI initiatives which fuels demand for the SaaS platform.

Maintaining high customer value is crucial for sustainable penetration, which is measured by net retention. Varonis Systems, Inc. has historically maintained a dollar-based net retention rate for subscription customers above 105% as of the end of 2024, and the goal is to keep this metric above 105% going forward. A key tactic here is bundling core products like DatAdvantage to drive this expansion revenue. DatAdvantage itself is central to data governance, helping to identify data owners who then receive specific reports to manage access.

Here are some relevant financial and operational metrics grounding this market penetration strategy for fiscal year 2025:

Metric	Value / Range	Period / Context
Full Year 2025 ARR Guidance	$730 million to $738 million	Full Year 2025 Guidance
SaaS ARR Percentage of Total ARR	76%	As of Q3 2025
SaaS ARR Target Percentage	83%	Year-End 2025 Target
Term License Subscriptions Decline	63.9%	Q3 2025 Year-over-Year
Dollar-Based Net Retention Rate (Subscription)	105%	As of End of 2024
Total Revenues Guidance	$615.2 million to $621.2 million	Full Year 2025 Guidance

The specific actions Varonis Systems, Inc. is taking to deepen penetration include:

• Accelerate the SaaS transition to hit 83% of ARR by year-end 2025.
• Increase cross-sell of Managed Data Detection and Response (MDDR) to existing accounts.
• Offer free data risk assessments to convert on-prem customers to the cloud-native platform.
• Deepen Microsoft Co-pilot security integration for joint feature development and sales.
• Target higher net retention (above 105%) by bundling core products like DatAdvantage.

The MDDR offering is designed to provide immediate time-to-value, getting customers up and running in hours, not weeks, with an industry-best Service Level Agreement (SLA) of a 30-minute response for ransomware attacks.

Finance: draft 13-week cash view by Friday.

Varonis Systems, Inc. (VRNS) - Ansoff Matrix: Market Development

You're looking at how Varonis Systems, Inc. is pushing its existing, proven platform into new, high-potential market segments and geographies. This is Market Development, and for Varonis Systems, Inc., it's heavily focused on the public sector and international expansion.

Aggressively market the FedRAMP Authorized SaaS platform to the US federal sector

The biggest push here is capitalizing on the recent achievement of FedRAMP Authorization for the Data Security Platform. This certification is a benchmark for cloud product security, making Varonis Systems, Inc. a compliant provider for federal agencies needing cloud-hosted security solutions. Management views the federal sector as a large whitespace opportunity. This authorization, which is for FedRAMP Moderate Authorization, positions the platform as the clear choice for organizations prioritizing stringent security standards. While it's early to see the immediate impact on Q3 results, this is a critical trust signal, even for commercial clients.

Expand sales and channel presence in high-growth EMEA and APAC regions

Varonis Systems, Inc. already has a global footprint, maintaining offices in Europe and Asia-Pacific to support multinational deployments. To quantify this expansion effort, look at the trailing twelve months (TTM) revenue data as of June 30, 2025. North America remains the largest segment, but EMEA shows substantial contribution and growth potential.

Geography	TTM Revenue (as of Jun 30, 2025)	Percentage of Total TTM Revenue
North America	$423.35M	Approximately 70%
EMEA	$121.28M	Approximately 20%
Rest of World (includes APAC)	$50.54M	Approximately 8%

The company's total TTM revenue reached $608.68M as of September 30, 2025. The strategy is to drive growth in these regions as the core SaaS transition stabilizes.

Leverage AWS GovCloud (US) support to capture sensitive government workloads

To directly serve the federal market unlocked by FedRAMP, Varonis Systems, Inc. now supports AWS GovCloud (US). This is the cloud environment specifically built for sensitive government workloads. This support allows agencies to discover and classify sensitive data like CUI and PII across AWS resources within that secure boundary. Furthermore, Varonis Systems, Inc. has deepened its integration with the broader AWS ecosystem, announcing an integration with AWS Security Hub on December 2, 2025, to ingest prioritized findings and add data sensitivity context. This helps automate remediation for misconfigurations, such as blocking public S3 bucket access.

Focus on regulated industries like Finance and Healthcare in new geographies

While specific revenue breakdowns for Finance and Healthcare in EMEA/APAC aren't public, Varonis Systems, Inc. generally serves a diverse global customer base that includes financial services and healthcare. The Market Development strategy here is to use the platform's compliance capabilities-which address mandates like insider threats and data loss prevention-as a key selling point when entering new territories where these regulated industries operate under strict data residency and security rules. The platform's ability to secure data across hybrid and multi-cloud environments simplifies compliance for multinational firms.

Convert remaining on-prem subscription customers to SaaS before the 2026 end-of-life date

This is an internal market development effort, treating existing on-prem customers as a new market to convert to the SaaS offering. Varonis Systems, Inc. has made significant progress, with 76% of its Annual Recurring Revenue (ARR) now derived from SaaS as of late October 2025. This is ahead of schedule, as the company has formally set the end of life of our self-hosted solution as of December 31, 2026. The company even raised its full-year 2025 guidance for the SaaS mix to 80% of ARR. For context, in Q1 2025, SaaS ARR was already at 61% of total ARR. This conversion is crucial because the SaaS business is driving momentum, while the on-prem subscription business is acting as a drag on overall ARR growth.

• Q1 2025 SaaS Revenue was $88.6 million.
• Total ARR reached $693.2 million in Q2 2025, up 19% YoY.
• Full Year 2025 Total Revenue guidance is set between $610 million and $625 million.

Varonis Systems, Inc. (VRNS) - Ansoff Matrix: Product Development

You're looking at how Varonis Systems, Inc. is pushing new products into the market, which is the Product Development quadrant of the Ansoff Matrix. This isn't just about minor updates; it's about strategic acquisitions and major feature rollouts to capture more of the data security spend.

Consider the recent acquisition of SlashNext, announced in September 2025, valued up to USD $150 million. This move directly targets the email security segment, a market projected to grow from $5.2 billion in 2025 to $10.7 billion by 2032. The technology brought in boasts a 100% detection rate for Business Email Compromise (BEC) attacks. This integration enhances Varonis Interceptor, aiming to stop threats where they start. The company's overall financial confidence reflects this push; for the full year 2025, Varonis Systems, Inc. raised its Annual Recurring Revenue (ARR) guidance to $748 million to $754 million, representing 17% growth. For context, in Q2 2025, total ARR hit $693.2 million, with SaaS ARR already making up 69% of that total.

On the database front, Varonis rolled out its Next-Gen Database Activity Monitoring (DAM) on July 28, 2025. This is a direct shot at legacy solutions from vendors like Imperva and IBM, which Terry Ray, Varonis VP of Product Strategy, noted can take years to deploy using outdated, agent-based technology. The new cloud-native DAM offers quick deployment and supports a broad set of databases, including Databricks, Microsoft SQL Server, Amazon RDS, Postgres, Oracle, and Snowflake.

The focus on AI identities is clear with the October 14, 2025, launch of AI Identity Protection for Salesforce Agentforce at Dreamforce 2025. At that time, Varonis Systems, Inc. was a $7 billion data security solutions provider, boasting impressive gross profit margins of 81% and a trailing twelve-month revenue growth of 14.29%. This product gives security teams unified visibility over what data AI agents can access, automatically enforcing least agency principles by analyzing prompts and responses for sensitive data exposure.

Developing Data Security Posture Management (DSPM) capabilities for emerging cloud infrastructure remains a core product pillar. Varonis is recognized as a key player in this space, having been named a Customers' Choice in the Gartner Peer Insights DSPM Report. The market itself is valued at USD 1.1 billion in 2025. Research from Varonis's own 2025 State of Data Security Report, based on 1000 IT environments, found that 90% of organizations have exposed sensitive cloud data, and 88% have stale but enabled ghost users, highlighting the need for this product development.

To secure intellectual property in collaboration tools, Varonis introduced Varonis for Confluence around November 14, 2025. This connector secures sensitive data across Confluence pages, spaces, and attachments. The value here is the unified view it provides, allowing you to monitor sensitive data in Confluence alongside other critical platforms like Jira, Slack, Microsoft 365, and Google Workspace on a single platform.

Product Initiative	Key Metric/Value	Date/Context
SlashNext Integration	$5.2 billion TAM for email security (2025)	Email security market size
Next-Gen DAM Rollout	Supports Databricks, Snowflake, Oracle, etc.	Broader data store coverage
AI Identity Protection Launch	81% Gross Profit Margin	Varonis financial context at launch
DSPM Development	90% of organizations have exposed sensitive cloud data	Finding from 2025 Data Security Report
Confluence Connector	Secures IP across pages, spaces, blogposts	Core function of the new connector
Full Year 2025 Guidance	ARR projected at $748 million to $754 million	Raised guidance reflecting product momentum

Finance: finalize the Q4 2025 cash flow projection based on the full-year Free Cash Flow guidance of $120 million to $125 million by next Tuesday.

Varonis Systems, Inc. (VRNS) - Ansoff Matrix: Diversification

You're looking at Varonis Systems, Inc. (VRNS) growth strategy beyond its core market, which is the definition of diversification here. It's about moving into new product spaces and new customer segments simultaneously, which carries the highest risk but also the highest potential reward.

The Total Addressable Market (TAM) expansion is the clearest metric supporting this diversification push. The legacy TAM, which was around $10 billion, has been aggressively expanded to roughly $32 billion due to innovation across IaaS, SaaS, PaaS, AI, and Databases. This tripling of the addressable space justifies the moves into adjacent, new data types and environments.

For the dedicated AI Data Governance suite, Varonis is positioning itself where the money is moving. The market for productivity-enhancing AI tools is estimated to start at $13.8 billion in 2025. Varonis has already released functionality like Varonis for ChatGPT Enterprise and the Varonis MCP Server to secure generative AI usage, which directly addresses the need to govern LLM training data and interactions. Furthermore, Varonis Data Lifecycle Automation is designed to automatically enforce policies to 'Ensure that sensitive data is not used for AI training or disclosed in responses.'

Acquisitions are a clear path to diversification, especially when entering areas where Varonis Systems, Inc. lacks immediate expertise. The September 2025 acquisition of SlashNext, valued up to $150 million, brings in AI-native email security to connect email threats to identity and data risks, which the CEO noted 'significantly expands our total addressable market.' This followed the March 2025 acquisition of Cyral. While specific numbers for Operational Technology (OT) or Industrial Control Systems (ICS) security platforms or a dedicated Distributed Ledger Technology (DLT) platform development aren't public yet, these acquisitions signal a clear intent to broaden the data-type coverage beyond traditional enterprise file shares and cloud storage.

Moving into a Managed Security Service Provider (MSSP) model for small-to-midsize businesses (SMBs) represents a new segment. Varonis already launched its Managed Data Detection and Response (MDDR) product in 2024, which uses AI tools for 24/7 monitoring. This existing managed offering is the foundation for expanding service delivery to a new, likely smaller, customer base, though specific SMB revenue targets aren't detailed for 2025.

Here are some key financial and market metrics grounding Varonis Systems, Inc.'s current standing as it executes this diversification:

Metric	Value (2025 Data)	Source Context
Full Year 2025 Revenue Guidance	$615.2 million to $621.2 million	Year-over-year growth of 12% to 13%
Full Year 2025 ARR Guidance	$730 million to $738 million	Reflecting 14% to 15% growth
Q3 2025 Total Revenues	$161.6 million	Reported for the period ended September 30, 2025
Full Year 2025 Free Cash Flow Guidance	$120 million to $125 million	Upward guidance from earlier projections
Market Capitalization (as of Oct 24, 2025)	$6.98 Billion	Based on a share price of $62.30
AI Tools Market Size (Estimated)	$13.8 Billion	Projected size for 2025
TAM Expansion Value	$32 Billion	Expanded TAM from a legacy base of $10 Billion

The company is clearly prioritizing the shift to SaaS, with SaaS ARR representing approximately 76% of total ARR as of September 30, 2025. This transition impacts near-term recognition; for instance, Q3 2025 revenue growth was 12% to 13%, while ARR growth was 18% in Q2 2025, showing the difference between recognized revenue and contracted recurring value.

You should track the integration success of SlashNext, which cost up to $150 million, against the stated goal of expanding the TAM. Also, watch for any specific announcements regarding the OT/ICS or DLT security platforms, as the current data only confirms acquisitions in email and database security. Finance: draft 13-week cash view by Friday.