Gross Retention excludes expansion - it shows pure churn / contraction loss. The gap between NRR and GRR is the expansion lift.
Peak NRR of 116.0% in FY2019-Q1. Latest is 90.0% - that's -26.0pp from peak.
Varonis is below the Security Public median by -20.5pp (cell median: 111%)
Varonis (VRNS) is a security company at the public stage. As of its most recent disclosure (FY2020-Q2), Varonis reported a Net Revenue Retention rate of 90.0% - a below-average result for B2B SaaS at this segment.
Varonis's NRR peaked at 116.0% in FY2019-Q1, 26pp above today's level. The most recent quarter lost 26.0pp QoQ.
Within its peer set (security companies at public stage in the $100k-$500k acv band), Varonis's NRR is meaningfully below the cell median of 111%. Compare against the full peer cell aggregate for distribution and top performers.
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