Varonis Q1 2026: SaaS ARR Hits $683M — Data Security Thrives as AI Agent Data Access Multiplies Risk Surface

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Varonis reported Q1 2026 results with SaaS ARR excluding conversions up 29% YoY to $522.6M and total SaaS ARR including conversions at $683.2M, guiding $814-845M for full year (27-32% growth). The data security platform benefits from the same dynamic driving Vanta: as AI agents get deployed across enterprises and access exponentially more data, the attack surface and compliance requirements multiply. Varonis's continued acceleration in a category where many SaaS companies are decelerating confirms that security/governance infrastructure is the counter-cyclical winner in the AI-driven SaaS repricing.