Varonis Systems (VRNS Quick QuoteVRNS - Free Report) reported $115.42 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 3.6%. EPS of $0.01 for the same period compares to $0.00 a year ago.

The reported revenue represents a surprise of -3.18% over the Zacks Consensus Estimate of $119.21 million. With the consensus EPS estimate being $0.02, the EPS surprise was -50.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Varonis performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Annual Recurring Revenues: $497 million versus $490.50 million estimated by four analysts on average.
• Revenues- Maintenance and Services: $24.33 million versus the six-analyst average estimate of $23.97 million. The reported number represents a year-over-year change of -10.1%.
• Revenues- Subscriptions: $91.09 million compared to the $95.13 million average estimate based on six analysts. The reported number represents a change of +8% year over year.

View all Key Company Metrics for Varonis here>>>

Shares of Varonis have returned +5.2% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.