Financial Data and Key Metrics Changes - CyberArk achieved over $1 billion in Annual Recurring Revenue (ARR) for the first time, reaching $1.169 billion, including approximately $166 million from Venafi [46][47] - Total revenue for Q4 reached $314.4 million, significantly exceeding guidance, with a contribution of approximately $47 million from Venafi [49] - The company reported a free cash flow of $221 million for the year, representing a margin of about 22% [61][62] Business Line Data and Key Metrics Changes - Subscription ARR grew to $977 million, representing 84% of total ARR, with organic subscription ARR reaching $816 million [47][59] - Recurring revenue for Q4 was $292.2 million, growing 24% year-over-year, while subscription revenue reached $243 million, growing 34% year-over-year [50][52] - Secrets Management was the fastest-growing solution for the full year, with significant growth in average deal sizes compared to the previous year [35][36] Market Data and Key Metrics Changes - The Americas revenue reached $189.5 million, EMEA revenue was about $94.5 million, and APJ revenue was $30.4 million, with growth across all regions [53][54] - Organic growth rates were 17% in the Americas, 26% in EMEA, and 19% in APJ year-over-year [54] Company Strategy and Development Direction - CyberArk is focused on expanding its leadership in Identity Security through acquisitions like Venafi and Zilla Security, enhancing its platform capabilities [19][64] - The company aims to address the evolving needs of identity security in a dynamic environment, emphasizing the integration of various identity management solutions [80][100] - The acquisition of Zilla Security is expected to enhance CyberArk's identity governance capabilities, addressing modern challenges in identity management [19][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position amidst a challenging threat landscape, highlighting the importance of comprehensive identity security solutions [12][42] - The company anticipates continued growth in ARR and revenue, projecting total revenue for 2025 to be between $1.308 billion and $1.318 billion, representing 31% year-over-year growth at the midpoint [68][70] - Management noted that the integration of Venafi is already accretive to operating and cash flow margins, reinforcing the strategic value of the acquisition [73] Other Important Information - CyberArk ended the year with approximately 3,800 employees, including about 400 from Venafi, and maintained a strong balance sheet with approximately $841 million in cash and marketable securities [60][62] - The company expects adjusted free cash flow for 2025 to be in the range of $300 million to $310 million, representing a 23% adjusted free cash flow margin at the midpoint [71] Q&A Session Summary Question: Thoughts on identity as a platform versus a series of swim lanes - Management indicated that customers are increasingly seeking integrated security solutions that cover multiple identity management areas rather than isolated tools [80][82] Question: Positioning for securing AI agents - Management highlighted CyberArk's long-standing expertise in managing dynamic access and privilege controls, positioning the company well to secure AI agents [88][90] Question: Broader product landing with new logos - Management noted that the top three deals in Q4 were full-scope, integrating multiple solutions across the platform, reflecting a trend towards comprehensive identity security [95][96] Question: Differentiation of Zilla's solution - Management explained that Zilla's modern IGA capabilities address the dynamic nature of identity management in today's SaaS and cloud environments, enhancing CyberArk's platform [100][105] Question: Impact of federal government spending uncertainty - Management acknowledged some uncertainty but emphasized a broad base of support within federal agencies, mitigating risks associated with changes in government spending [110][112] Question: Maintenance ARR and conversion opportunities - Management expressed optimism about the conversion opportunities within maintenance ARR, indicating a healthy pace of conversion activity expected to pick up in 2025 [123] Question: Governance layer for machine identities - Management confirmed the complexity of machine identity management and the role of Zilla in enhancing governance capabilities within CyberArk's broader identity security strategy [128][132] Question: Channel strategy and MSSP opportunities - Management emphasized the importance of channel partnerships, particularly with Managed Security Service Providers (MSSPs), in driving new business and expanding market reach [138]

Core Insights - CyberArk reported revenue of $314.38 million for the quarter ended December 2024, reflecting a year-over-year increase of 40.9% and surpassing the Zacks Consensus Estimate by 4.43% [1] - The company's EPS for the quarter was $0.80, slightly down from $0.81 in the same quarter last year, but exceeded the consensus estimate of $0.71 by 12.68% [1] Financial Performance Metrics - Total Annual Recurring Revenue (ARR) reached $1.17 billion, slightly above the average estimate of $1.16 billion from eight analysts [4] - Maintenance ARR was reported at $192 million, exceeding the average estimate of $182.59 million from five analysts [4] - Subscription ARR was $977 million, marginally below the average estimate of $978.51 million from five analysts [4] - Revenues from maintenance and professional services amounted to $66.37 million, surpassing the average estimate of $63.43 million from eleven analysts, representing a year-over-year increase of 2.4% [4] - Perpetual license revenues were $4.97 million, above the average estimate of $4.70 million from eleven analysts, but showed a significant year-over-year decline of 38% [4] - Subscription revenues reached $243.05 million, exceeding the average estimate of $232.74 million from eleven analysts, with a year-over-year growth of 61.8% [4] Stock Performance - CyberArk's shares have returned +9.6% over the past month, outperforming the Zacks S&P 500 composite's +3.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Investor Relations Presentation February 2025 © 2025 CyberArk Software Ltd. All rights reserved. Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements, which express the current beliefs and expectations of CyberArk's (the "Company") management. In some cases, forward-looking statements may be identified by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential" or the ne ...

Identity security company CyberArk has acquired identity governance and administration (IGA) platform Zilla Security in a deal worth up to $175 million. Founded in 1999, Boston-based CyberArk specializes in access management, including privileged access security which helps organizations protect sensitive data and critical infrastructure from external (and internal) threats. Zilla, for its part, is another Boston-based security company operating in the identity and access management realm. Founded in 2019 ...

CyberArk (CYBR) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Individual invest ...

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. CyberArk (CYBR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.CyberArk is one of 608 companies in the Computer ...

CyberArk Software Ltd. (CYBR) is scheduled to report fourth-quarter 2024 results before market open on Feb. 13.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company forecasts fourth-quarter non-GAAP earnings per share in the range of 65-75 cents. The consensus mark is pegged at 71 cents per share, implying a year-over-year decline of 12.4%.CyberArk’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 97.7%.The cybe ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about CyberArk (CYBR) .CyberArk currently has an average brokerage reco ...

Earnings ESP and Zacks Rank Analysis - CyberArk currently has an Earnings ESP of +0.60%, indicating analysts are bullish on its earnings prospects [2] - The combination of a positive Earnings ESP and Zacks Rank 3 (Hold) suggests a potential earnings beat in the next report [2][7] - Stocks with a positive Earnings ESP and Zacks Rank 3 or better produce a positive surprise nearly 70% of the time [8] CyberArk's Earnings Performance - CyberArk has consistently beaten earnings estimates, surpassing them by an average of 70.30% in the last two quarters [5] - In the most recent quarter, CyberArk reported $0.94 per share, a 108.89% surprise compared to the $0.45 estimate [6] - For the previous quarter, the company reported $0.54 per share, a 31.71% surprise compared to the $0.41 estimate [6] Industry and Company Context - CyberArk operates in the Zacks Computers - IT Services industry [3] - The company specializes in software that detects attacks on privileged accounts [5] - The next earnings report is expected to be released on February 13, 2025 [2] Earnings ESP Methodology - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate [9] - Analysts revising estimates right before an earnings release may have more accurate information [9] - A negative Earnings ESP reduces predictive power but does not necessarily indicate an earnings miss [4]

CyberArk (CYBR) closed at $344.55 in the latest trading session, marking a +0.19% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.16%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.06%.Coming into today, shares of the maker of software that detects attacks on privileged accounts had gained 6.34% in the past month. In that same time, the Computer and Technology sector lost 0.39%, while the S&P 500 lost 2.7%.The upcoming earnings release of CyberArk will be of g ...