A company still losing money with growing sales. Institutions are adding.
Going well
Sales up 13% last year
Watch out for
Losing money, losses are large next to sales
Money moves
No insider buying or selling in the last 30 days
Institutions added 3.1% to their holdings in the quarter ending June 2026 (212 bought, 129 sold)
Held by George Soros (Soros Fund)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$49.14+0.6% that day
Company value
$5.6B
Share price times all shares
Price vs sales
9.1x
No profit over the last year, so this compares value with sales instead
Cash vs value
4%
Cash as a share of company value
From VRNS's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Profit, Jun '26
-$46.8M
Sep '23Tap a barJun '26
Last 12 months: -$141.4M.
What the price assumes
Your guesses, our math
Move the sliders to your own view of VRNS. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$1.3B
Profit in 5 years$131M
Price these guesses point to$15.49-68% vs $49.14 todayAbout -21% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 46% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-24.5%
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-20.7%
MissProfitable every yearSteady profits, not one good year.0 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$134.8M
MissShare count not growingNot diluting owners. Falling means buybacks.+4.7% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.78.8%
Revenue
$623.5M
+13.2% vs prior year
5-year growth
+16.3%/yr
revenue, per year
Current ratio
1.97x
short-term assets / bills due
Free cash flow
$134.8M
21.6% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Jul 28
EPS
-$0.41
vs -$0.32
Free cash flow
$20.7M
Share count
+2.5%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
62/ 100
This week
1
Normal week
0.6
vs normal
1.6x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+3.1%
Institutions added 3.1% to their holdings. 212 bought, 129 sold.
Shares held by institutions111.6M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+1.6%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.0x · $453.3M debt
Shares outstandingLatest reported
115M
Why moderate risk
Losing money, losses are large next to sales
Debt above equity: 1.02x
Earnings reports
Last 12
Next reportIn 0 days (est.)Estimated from the same quarter last year
Results filedJul 28
Results filedApr 28
Results filedFeb 3
Results filedOct 28, 2025
Results filedJul 29, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.