Wrapping up Q4 earnings, we look at the numbers and key takeaways for the cybersecurity stocks, including Varonis Systems (NASDAQ: VRNS) and its peers.

Cybersecurity continues to be one of the fastest-growing segments within software for good reason. Almost every company is slowly finding itself becoming a technology company and facing rising cybersecurity risks. Businesses are accelerating adoption of cloud-based software, moving data and applications into the cloud to save costs while improving performance. This migration has opened them to a multitude of new threats, like employees accessing data via their smartphone while on an open network, or logging into a web-based interface from a laptop in a new location.

The 9 cybersecurity stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.4% since the latest earnings results.

Varonis Systems (NASDAQ: VRNS)

Beginning with protecting Windows file shares in 2005 and evolving into a comprehensive security platform, Varonis Systems (NASDAQ: VRNS) provides data security software that helps organizations protect sensitive information, detect threats, and comply with privacy regulations.

Varonis Systems reported revenues of $173.4 million, up 9.4% year on year. This print exceeded analysts’ expectations by 3.1%. Overall, it was a satisfactory quarter for the company with a solid beat of analysts’ billings estimates but full-year EPS guidance missing analysts’ expectations significantly.

Yaki Faitelson, Varonis CEO, said, “We are excited by the performance of our SaaS business, which saw ARR growth of 32%, excluding conversions, and is being driven by the automated value proposition we deliver to our customers. We look forward to continuing our momentum and ending 2026 as a fully SaaS company, which will unlock many more benefits as we capture our growing market opportunity. We continue to believe in the path to achieving our 2027 financial targets.”

Unsurprisingly, the stock is down 8% since reporting and currently trades at $24.42.

Is now the time to buy Varonis Systems? Access our full analysis of the earnings results here, it’s free.

Best Q4: CrowdStrike (NASDAQ: CRWD)

Known for detecting the massive SolarWinds hack in 2020 that compromised numerous government agencies, CrowdStrike (NASDAQ: CRWD) provides cloud-based cybersecurity solutions that protect endpoints, cloud workloads, identity, and data through its Falcon platform.

CrowdStrike reported revenues of $1.31 billion, up 23.3% year on year, outperforming analysts’ expectations by 0.6%. The business had a strong quarter with an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 11.2% since reporting. It currently trades at $435.27.

Is now the time to buy CrowdStrike? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Rapid7 (NASDAQ: RPD)

With its name inspired by the need for quick responses to cyber threats, Rapid7 (NASDAQ: RPD) provides cybersecurity software and services that help organizations detect vulnerabilities, monitor threats, and respond to security incidents.

Rapid7 reported revenues of $217.4 million, flat year on year, exceeding analysts’ expectations by 1.2%. Still, it was a softer quarter as it posted full-year guidance of slowing revenue growth and full-year revenue guidance missing analysts’ expectations significantly.

Rapid7 delivered the slowest revenue growth in the group. As expected, the stock is down 39.4% since the results and currently trades at $6.30.

Read our full analysis of Rapid7’s results here.

Tenable (NASDAQ: TENB)

Starting with the widely-used Nessus vulnerability scanner first released in 1998, Tenable (NASDAQ: TENB) provides exposure management solutions that help organizations identify, assess, and prioritize cybersecurity vulnerabilities across their IT infrastructure and cloud environments.

Tenable reported revenues of $260.5 million, up 10.5% year on year. This number beat analysts’ expectations by 3.5%. More broadly, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but full-year guidance of slowing revenue growth.

Tenable achieved the biggest analyst estimates beat but had the weakest full-year guidance update among its peers. The stock is up 3.1% since reporting and currently trades at $20.33.

Read our full, actionable report on Tenable here, it’s free.

Palo Alto Networks (NASDAQ: PANW)

Founded in 2005 by security visionary Nir Zuk who sought to reimagine firewall technology, Palo Alto Networks (NASDAQ: PANW) provides AI-powered cybersecurity platforms that protect organizations' networks, clouds, and endpoints from sophisticated threats.

Palo Alto Networks reported revenues of $2.59 billion, up 14.9% year on year. This result was in line with analysts’ expectations. It was a strong quarter as it also logged a solid beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.

Palo Alto Networks delivered the highest full-year guidance raise among its peers. The stock is up 3% since reporting and currently trades at $168.46.

Read our full, actionable report on Palo Alto Networks here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.