Blake Grayson’s Post

ServiceNow has reported its fourth-quarter and full-year 2023 financial results, and it's been a great year indeed! The company has exceeded guidance across all Q4 2023 topline growth and profitability metrics, and has raised its 2024 subscription revenues and operating margin outlook. In Q4 2023, ServiceNow's subscription revenues reached $2,365 million, representing 27% YoY growth (25.5% in constant currency). Total revenues were $2,437 million, a 26% YoY growth (24% in constant currency). The company's current remaining performance obligations were $8.60 billion as of Q4 2023, representing 24% YoY growth (23% in constant currency). There were 168 transactions over $1 million in net new ACV in Q4 2023, up 33% YoY. To read the full press release, click here: https://lnkd.in/dybHGdiU.

Despite previously adopting ASC 606, a mid-market, private equity-backed company’s historical revenue recognition policies were subject to increased scrutiny during the company’s PCAOB uplift audit, resulting in changes in revenue recognition and related policies. Learn how WM supported the company transform their manual revenue recognition process into an automated system, while navigating a potential IPO: https://lnkd.in/d7jg-RE9 #CaseStudy #ClearYourWay #SoftwareRecognition #Automation

How Deferred Revenue Recognition Impacts Organizations

Varonis' financial results for the fourth quarter of 2023 reflect the strong adoption and the sustained momentum of our cloud-native Data Security Platform. With a 66% SaaS mix of new business generated and a significant increase in existing customer conversions, we continue to see meaningful improvements to our overall ARR, free cash flow, and ARR contribution margin. "The strong demand for our SaaS platform is reflected by our fourth quarter SaaS mix of 66% versus our guidance of 60% and better than expected existing customer conversions. This adoption benefits ARR and free cash flow and we expect the uptake of SaaS to accelerate in dollar terms in the coming year, which positions us well as we enter 2024," said Varonis CFO & COO, Guy Melamed. Learn more in the full earnings release below.

We sat down with 407 finance leaders: - What tools they're investing in in 2023 - How to avoid SaaS bloat & wasted spend programatically - Expense reports & policies - how to automate the pain away The full report, all for free, thanks to our friends at Forrester 👇

Varonis' financial results for the fourth quarter of 2023 reflect the strong adoption and the sustained momentum of our cloud-native Data Security Platform. With a 66% SaaS mix of new business generated and a significant increase in existing customer conversions, we continue to see meaningful improvements to our overall ARR, free cash flow, and ARR contribution margin. "The strong demand for our SaaS platform is reflected by our fourth quarter SaaS mix of 66% versus our guidance of 60% and better than expected existing customer conversions. This adoption benefits ARR and free cash flow and we expect the uptake of SaaS to accelerate in dollar terms in the coming year, which positions us well as we enter 2024," said Varonis CFO & COO, Guy Melamed. Learn more in the full earnings release below.

Varonis' financial results for the fourth quarter of 2023 reflect the strong adoption and the sustained momentum of our cloud-native Data Security Platform. With a 66% SaaS mix of new business generated and a significant increase in existing customer conversions, we continue to see meaningful improvements to our overall ARR, free cash flow, and ARR contribution margin. "The strong demand for our SaaS platform is reflected by our fourth quarter SaaS mix of 66% versus our guidance of 60% and better than expected existing customer conversions. This adoption benefits ARR and free cash flow and we expect the uptake of SaaS to accelerate in dollar terms in the coming year, which positions us well as we enter 2024," said Varonis CFO & COO, Guy Melamed. Learn more in the full earnings release below.

#CashFlow is King! We've all heard that statement before ... but #SmallBusinessOwners know this is more than just a simple statement ... it's fact! We are reaching the end of Q3 and every #BusinessOwner is (should be) sitting down with thier accountants, bookkeepers, and CPAs to discuss the cash flow and #ProfitAndLoss statements of the last quarter and year-to-date. When you sit down with your #FinancialProfessional in the coming days and weeks what tool will you be using to review your company's #financial situation? Our members and their team have access to an incredible tool that helps them better understand the #CashFlowManagement situation. If you know where you're at with your financials, you know where your company is going in Q4 and beyond. Let me know what you think about this incredible tool in the video below. https://lnkd.in/dFcBXq2s

Varonis' financial results for the fourth quarter of 2023 reflect the strong adoption and the sustained momentum of our cloud-native Data Security Platform. With a 66% SaaS mix of new business generated and a significant increase in existing customer conversions, we continue to see meaningful improvements to our overall ARR, free cash flow, and ARR contribution margin. "The strong demand for our SaaS platform is reflected by our fourth quarter SaaS mix of 66% versus our guidance of 60% and better than expected existing customer conversions. This adoption benefits ARR and free cash flow and we expect the uptake of SaaS to accelerate in dollar terms in the coming year, which positions us well as we enter 2024," said Varonis CFO & COO, Guy Melamed. Learn more in the full earnings release below.

Our quarterly business update: 1Q ‘2025 revenue of $335.1M, up 16% year-over-year, with $1.508B in ARR, which is growing 21% year-over-year. Read more in our full earnings release: