Varonis Systems Inc at William Blair Growth Stock Conference (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jason Ader - William Blair & Company - Analyst : And Yaki, to start out, I think for investors less familiar with Varonis, I think it'd be helpful if you gave us a quick overview of the history of the Company, what you sell, and who your customers are.

Question: Jason Ader - William Blair & Company - Analyst : Great. And who are your main customers?

Question: Jason Ader - William Blair & Company - Analyst : Great.

Question: Jason Ader - William Blair & Company - Analyst : Right. And I guess it's always a bit tough with you guys in terms of how to categorize you. Do you see yourself as a security company, a data management company, a compliance company? And then maybe what part of the budget, the IT budget, do you normally sell into?

Question: Jason Ader - William Blair & Company - Analyst : Got you. And was there a specific catalyst that changed the product set from, let's call it a discretionary, nice to have, to something that's more must-have? Was there an event? Was it (multiple speakers) --?

Question: Jason Ader - William Blair & Company - Analyst : Got you, okay. And what is so special about what you guys do in terms of the technology, the foundational technology that you have, that allows you to do this better than anybody else?

Question: Jason Ader - William Blair & Company - Analyst : All right. Great. Maybe we can walk through the product line now, and just the specific products that the typical customer purchases. And then how do you price your solution to make it easy to consume?

Question: Jason Ader - William Blair & Company - Analyst : So it's kind of like two dimensions in terms of your product line? You have the -- what data store you're focused on or you're going to be protecting. And then you have these multiple capabilities on top of that data store, is that right?

Question: Jason Ader - William Blair & Company - Analyst : Great. Well, that's a great segue to talk about DatAdvantage Cloud and the acquisition you guys made -- I guess it was last year. Was it last year now?

Question: Jason Ader - William Blair & Company - Analyst : Okay. Losing track of time. And yes, maybe just go through what is involved there with DatAdvantage Cloud and why it's so important to the story?

Question: Jason Ader - William Blair & Company - Analyst : Great. And could you talk about the impacts thus far on your business from COVID-19 and what drove the uptick in your pipeline last year?

Question: Jason Ader - William Blair & Company - Analyst : Got you, okay. So you have secular tailwinds. You have some -- maybe cyclical element to your business here coming up if COVID -- normal -- the economy normalizes. And then you have this new product set with Polyrize or with DatAdvantage Cloud that could (multiple speakers) --.

Question: Jason Ader - William Blair & Company - Analyst : And Guy, you still expect that to be more of a 2022 impact for DatAdvantage Cloud?

Question: Jason Ader - William Blair & Company - Analyst : Got you, okay. Got a question from the audience. Who would you say is your largest current competitor? And who is the most threatening emerging competitor in the space?

Question: Jason Ader - William Blair & Company - Analyst : All right. So like a DLP company may be able to compete with you on some small aspects of your platform?

Question: Jason Ader - William Blair & Company - Analyst : Got you, good. Well, let's change gears to the financials. What do you see as the sustainable top-line growth for the business over the next few years? And what are the key variables we should be thinking about?

Question: Jason Ader - William Blair & Company - Analyst : And -- over the next few years, you think you can grow north of 20%? Is that reasonable?

Question: Jason Ader - William Blair & Company - Analyst : Great. And I have one last question from the audience, which is an interesting question. It's like a genie question. If you had three wishes for your business to flourish in the coming years, what would they be?

Question: Jason Ader - William Blair & Company - Analyst : Well, a lot of execution. Yes.

Question: Jason Ader - William Blair & Company - Analyst : Great. All right. Well, with that, we are out of time. Thank you, guys, so much for being with us and thanks for the -- thanks for those who joined us over the Zoom. And have a great rest of the day. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 01, 2021 / 3:00PM, VRNS.OQ - Varonis Systems Inc at William Blair Growth Stock Conference (Virtual)