CyberArk Posts Q3 Beat, ARR Growth Hits Record

Group 1 - CyberArk Software Ltd. reported third-quarter revenue of $342.8 million, a 43% year-over-year increase, surpassing the consensus estimate of $328 million [1] - Adjusted earnings per share for the quarter were $1.20, reflecting a 28% increase from $0.94 a year ago, exceeding expectations of $0.93 [1] - The company achieved record net new annual recurring revenue (ARR) of $68 million for the quarter, marking a 16% year-over-year increase [2] Group 2 - Total ARR increased by 45% to $1.34 billion, indicating strong momentum in CyberArk's transition to a subscription-based business model [2] - The strong quarterly results come as CyberArk prepares for its merger with Palo Alto Networks, which is expected to enhance market reach and capitalize on the growing demand for identity security solutions [3]