The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: Congrats on the really strong quarter. Yaki, it was really good to hear, I think you started out the script saying significant inbound interest. And I
know you talk a lot about Office 365 and Azure but I'm wondering if you could talk more specifically about Teams, in particular. We continue to
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OCTOBER 26, 2020 / 8:30PM, VRNS.OQ - Q3 2020 Varonis Systems Inc Earnings Call
think and hear from some channel context that Teams is driving a lot of deals, pulling you guys into deals maybe at an accelerating rate. So I'm
wondering if you could talk specifically about Teams and then also support of other collaboration tools like Slack and Atlassian.
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: That's great. And then maybe as a follow-up, another thing that I picked up that you mentioned federal did well. I know that's been an issue for
you guys for years, and you've been making steady progress, but it's really good to hear you guys call that out with the large government agency
this quarter. I'm curious, can you talk a little bit more about maybe what's driving that federal interest today? Is there anything that's changed in
that environment? And maybe just any sense on how penetrated you guys are from a federal perspective on a vertical basis?
Question: Gur Yehudah Talpaz - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: Yaki, we've seen a sharp growth in ransomware over the past several months. Have you seen this as a driver for the business? And have you seen
customers looking to push Varonis into more data stores because of this?
Question: Gur Yehudah Talpaz - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: That's helpful. And then building on that a little bit, can you talk about the demand environment for Varonis Edge, especially if you think about
customers coming up for renewal as they kind of think about the risk environment with more users working from home?
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