Veronis has announced the acquisition of SlashNext, an AI-native email security provider.
SlashNext was founded by Atif Mushtaq, one of the main architects of FireEye’s core malware sandbox technology. Their predictive AI sees through evasive tactics, removes threats from the inbox, and protects humans from multi-channel phishing attacks.
Hackers are flooding users with social engineering attacks across email and tools like WhatsApp, Slack, and Teams. SlashNext allows Varonis to provide CISOs with a complete and consolidated threat detection and response offering that stops threats early in the attack path.
“The acquisition of SlashNext is a natural evolution of our platform and significantly expands our total addressable market,” said Yaki Faitelson, CEO, and Co-Founder of Varonis. “By connecting the dots between email, identity, and data we will dramatically increase the value of our MDDR service and help customers stop threats in their inbox, where many data breaches begin.”
“At SlashNext, we built a fast, automated solution to stop advanced threats across communication channels,” said Atif Mushtaq, Founder and CPO of SlashNext. “I’m excited to join the Varonis team on their mission to protect the world’s data, giving customers end-to-end protection from the first point of attack to the last.”
Email Security Built for the AI Era
The email security market is projected to grow from $5.2 billion in 2025 to $10.7 billion by 2032 driven in large part by the rise of AI-driven phishing and BEC attacks.
SlashNext is powered by predictive AI models that use techniques such as computer vision, natural language processing, and virtual browsers to protect users from the widest range of human risks.
In an independent test of cloud email security vendors conducted by the Tolly Group, SlashNext outperformed leading providers such as Abnormal Security and Mimecast. In the test, SlashNext demonstrated the highest overall detection accuracy (99%) and a perfect 100% detection rate for BEC and QR code attacks.
Financial Outlook
The Company is updating its guidance to reflect the incremental expenses associated with the acquisition of SlashNext. Due to the Company’s strong performance to-date, it is reiterating its previously issued free cash flow guidance.
For the third quarter of 2025, the Company now expects:
- Revenues of $163.0 million to $168.0 million, or year-over-year growth of 10% to 13%.
- Non-GAAP operating income of $1.0 million to $4.0 million.
- Non-GAAP net income per diluted share in the range of $0.04 to $0.06, based on 134.0 million diluted shares outstanding.
For full year 2025, the Company now expects:
- ARR of $748.0 million to $754.0 million, or year-over-year growth of 17%.
- Free cash flow of $120.0 million to $125.0 million.
- Revenues of $616.0 million to $628.0 million, or year-over-year growth of 12% to 14%.
- Non-GAAP operating loss of ($7.0) million to ($2.0) million.
- Non-GAAP net income per diluted share in the range of $0.11 to $0.12, based on 134.7 million diluted shares outstanding.
