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Varonis Systems Inc cash flow statement

In fiscal 2025, Varonis Systems Inc's operations generated $147m of cash; it spent $12.6m on capital projects, leaving free cash flow of $135m. It returned $115m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations20−7−371624−11−671259115147138
Depreciation and amortisation0112234610111212111219
Stock-based pay12581320354669110143140127130132
Capital spending1125451025101011571316
Free cash flow1−1−9−741114−36−16−3054109135122
Free cash flow after stock pay−0−3−14−15−9−9−21−82−85−113−142−86−185−11
Share buybacks1———————0056440115150
Shares issued1——————0050000———

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Varonis Systems Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Varonis Systems Inc.