Key Highlights

  • Varonis Systems (NASDAQ:VRNS) posted SaaS annual Recurring Revenue of USD 774.6 million, a 42% gain that shrinks to 24% without conversions, and it is offering no guidance or call because of the Proofpoint deal.
  • Procore Technologies (NYSE:PCOR) booked third-quarter revenue of USD 402 million, up 19%, with a non-GAAP Operating Margin of 23% alongside a GAAP operating margin of negative 2%.
  • Freshworks (NASDAQ:FRSH) moved to USD 28.2 million of Operating Income from a USD 7.5 million loss, on revenue of USD 245.4 million, up 14%.
  • Jack Henry & Associates (NASDAQ:JKHY) raised GAAP EPS 15.6% to USD 2.28, with GAAP revenue of USD 701.5 million, while adjusted revenue expanded at a more modest 7.2%.

Varonis Systems (NASDAQ:VRNS): Figures Come Out While a Merger Is Pending

On November 3, 2026, Varonis Systems (NASDAQ:VRNS), a data and AI security software firm, put out its third-quarter numbers. SaaS annual recurring revenue hit USD 774.6 million, rising 42%, or 24% once conversions of existing customers are removed. Total revenue reached USD 189.5 million, roughly 17.3% higher than the prior year by simple arithmetic. A merger agreement signed October 15, 2026 with Proofpoint, a portfolio company of Thoma Bravo, means the company will offer no guidance and hold no earnings call. The extract omits the deal price and closing timetable. SaaS revenue climbed to USD 185.1 million, whereas term license revenue shrank to USD 1.2 million from USD 24.8 million as customers moved to subscriptions. On a GAAP basis the operating loss deepened to USD 47.7 million, but non-GAAP operating income climbed to USD 7.6 million. Cash, deposits and securities came to USD 937.8 million, and nine-month free Cash Flow eased to USD 94.8 million from USD 111.6 million. Research and Development expanded to USD 78.7 million from USD 62.7 million, leaving a net loss of USD 41.6 million, or USD 0.36 per share. Convertible senior notes sold in 2020 and again in 2024 come due in 2029. Possible hurdles include failing to close on schedule, securing Shareholder and regulatory approvals, and paying a termination fee.

Procore Technologies (NYSE:PCOR): A 2027 Margin Goal Sits Beside a Fourth-Quarter Dip

Procore Technologies (NYSE:PCOR) unveiled third-quarter results on November 3, 2026. Revenue hit USD 402 million, a 19% increase that includes 2 points from the DroneDeploy acquisition, which leaves organic growth near 17% by our own arithmetic. The firm sells construction management software. GAAP gross margin came to 80% and non-GAAP gross margin to 84%. The 25-point distance between GAAP and non-GAAP operating margin reflects exclusions such as stock-based compensation and Acquisition costs. By our arithmetic, USD 73 million of free cash inflow works out to roughly 18% of revenue. Fourth-quarter non-GAAP operating margin is guided to 15.5% to 16.0%, well under the 23% reported this quarter, and the release offers no explanation for the drop. Procore aims for a 25% non-GAAP margin in 2027 but supplied neither 2027 revenue guidance nor a bridge. On October 30, 2026, a fresh USD 300 million repurchase program received authorization, though the company need not use it. The company planned a call on November 4, 2026, starting 8:30 a.m. ET. The company also made its Procore AI digital coworkers generally available. Operating cash generation improved 8% to USD 96 million, while gross revenue retention came in at 95%. AI execution, integration and construction-sector conditions are the named risks.

Freshworks (NASDAQ:FRSH): Profit Turn Arrives With Revenue Up 14%

Freshworks (NASDAQ:FRSH) lodged its quarterly filing on November 3, 2026. Revenue came in at USD 245.4 million compared with USD 215.1 million, while operations moved from a USD 7.5 million loss to USD 28.2 million of income. The 10-Q extract breaks out none of the expense lines responsible for that shift, and it contains no headline EPS or guidance, so none is reported. The company sells cloud subscriptions for employee and customer experience software. It bought FireHydrant in January 2026 and closed the Torii Labs and Robusta Dev deals in October 2026. Purchase price allocations for the latter two remain incomplete, which leaves their financial effect unknown. Net dollar retention slipped to 104% from 105%, a decline management attributed mostly to unfavorable currency movements. Around 29% of revenue carries exposure to the euro and British pound. Monthly subscriptions shrank to 11% of ARR from 13%, a shift that usually signals a more committed customer base. Customers paying more than USD 5,000 in ARR rose to 25,498, up 5%. Management cautioned that Inflation and geopolitical events could weigh on spending, and any slowdown may only reach revenue in later quarters.

Jack Henry & Associates (NASDAQ:JKHY): GAAP EPS Gains Outrun Adjusted Revenue Growth

Jack Henry & Associates (NASDAQ:JKHY) reported fiscal first-quarter 2027 figures on November 3, 2026, covering the quarter that ended September 30. GAAP revenue increased 8.8% to USD 701.5 million, and Net Income rose 11.4% to USD 160.4 million. Processing revenue advanced 10.7% to USD 296.6 million, with faster payments up 43.8% and card revenue up 9.4%. Management described results as ahead of the outlook it gave in August. Adjusted revenue rose only 7.2%, since the adjusted view strips out deconversion revenue, which climbed USD 9.3 million, and the Victor Technologies acquisition. Selling, general and administrative expense dipped 0.2%, mostly because the Connect conference moved into the second quarter, a shift that may reverse next quarter. GAAP operating margin hit 29.5%. Fiscal 2027 GAAP EPS is projected at USD 7.47 to USD 7.51, assuming no acquisitions. Credit Facility Debt climbed to USD 85 million from USD 20 million while USD 71 million of shares were bought back, and cash stood at USD 25.4 million. Prior guidance was missing from the extract, so the change since August cannot be quantified. Rising personnel and cloud costs, deconversion timing and reliance on bank and credit union clients are the main risks.

Where Things Stand

The growth picture depends on which measure is used. Varonis Systems (NASDAQ:VRNS) shows mostly conversion-driven recurring growth, at 24% excluding conversions, and its merger timetable matters more than the quarter itself. Similar gaps between headline and underlying figures appear across the group. Procore Technologies (NYSE:PCOR) reports a 23% non-GAAP margin against negative 2% on a GAAP basis. Freshworks (NASDAQ:FRSH) lifted operating income, but net dollar retention slipped a point. Jack Henry & Associates (NASDAQ:JKHY) grew EPS 15.6% while adjusted revenue rose 7.2%. The cleaner underlying read varies by company, and none of it points to share price direction. Watch the Varonis merger approvals, the Procore fourth-quarter margin, Freshworks acquisition disclosure and Jack Henry's second-quarter expense timing. No price moves were supplied.