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Varonis Systems, Inc. (VRNS) J.P. Morgan 54th Annual Global Technology, Media and Communications Conference May 19, 2026 10:05 AM EDT
Company Participants
David Gibson - Senior Vice President of Strategic Programs
Guy Melamed - CFO & COO
Conference Call Participants
Brian Essex - JPMorgan Chase & Co, Research Division
Presentation
Brian Essex
JPMorgan Chase & Co, Research Division
All right. Good morning, everyone. Thank you for joining us. My name is Brian Essex. I'm JPMorgan's mid-cap, large-cap software analyst. With me today, I'm very happy to have Varonis. We have Guy Melamed, the CFO and COO. And then we have David Gibson, SVP of Strategic Programs on the end here.
David Gibson
Senior Vice President of Strategic Programs
Good morning.
Brian Essex
JPMorgan Chase & Co, Research Division
David, thank you for joining us. We appreciate it.
Guy Melamed
CFO & COO
Thanks for having us.
Question-and-Answer Session
Brian Essex
JPMorgan Chase & Co, Research Division
Maybe a great place to kick off is on the results of the quarter. Would love to understand, maybe just a quick summary in terms of like where the outperformance came from? And how are you managing the outlook given what we've seen in 1Q as well as second quarter so far.
Guy Melamed
CFO & COO
So you're right, Q1 was definitely a good start for the year. We were very happy with the performance. It was very much driven by new customers, definitely saw very nice growth there in terms of the number of customers. And this was something that we talked a lot about with kind of the move during the transition to the part in 2026, which is really kind of the last leg of the transition and the fact that the reps now can focus on what they know best, which is selling to new customers and upselling to
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