Varonis Systems, Inc. (NASDAQ:VRNS) Q1 2024 Earnings Call Transcript

Yaki Faitelson: So it’s still early. We can’t say how it’s going to affect the sale cycles, but I will tell you that what is happening is it takes the problem that they have and just expose it immediately. It will be, organizations will take a lot of risk to use this AI tool without proper data security in place, but we still need to see how it will play out. The reality is that the thing that organizations slowly but surely understand that without a solution like ours, it can’t be protected from data breaches. And it’s always about the data breach. It can come from insiders and APTs, people trying to get credentials. Once you have an identity, there is no perimeter anymore. And people are not, and bad actors are not doing anything that is very sophisticated.

This time, starting to take data. And we believe that we are the best paid solution to make sure that you will not have a data breach. And I also think that gradually the marketplace understands it because look at what’s going on. You see attacks that are more sophisticated. We are always about the data while organizations spending a fortune on perimeter security. This is something that is just not sustainable. Thank you. Ladies and gentlemen, we have reached at the end of question and answer session. I would now like to turn the floor over to Tim Perz for closing comments.

Tim Perz : Thanks for the interest in Varonis. We look forward to meeting with you all other conference this quarter.

Operator: Thank you. This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.