CyberArk Software (CYBR) 2025 Conference June 10, 2025 10:30 AM ET Speaker0 Okay. We're gonna go ahead and get started with our next session. Thank you everyone for attending. Before we begin, given that it is the Xcel voting season, if you do value the work that we do, we very much appreciate your support. With that, we're thrilled to have Clarence Hinton with us today. Clarence is chief strategy officer and head of corporate development at CyberArk. Before joining CyberArk in 2019, Clarence was SVP of cor ...

Key Takeaways CYBR posted Q1 ARR of $1.22B, with $46M in net new ARR driven by rising subscriptions and platform use. Subscription ARR hit $1.03B, now nearly 85% of total ARR, underscoring financial stability and growth. New AI tool Secure AI Agent and major machine identity deals highlight CYBR's evolving security strategy.CyberArk Software (CYBR) reported solid first-quarter fiscal 2025 results with Annual Recurring Revenues (ARR) of $1.22 billion, up from $1.17 billion as reported in the last quarter. ...

CyberArk Software (CYBR) 2025 Conference Summary Industry Overview - **Industry**: Cybersecurity, specifically focusing on Identity Security and Privileged Access Management (PAM) [3][6] - **Market Trends**: Increasing attacks on both human and machine identities, with identity being recognized as the primary defense factor against adversaries [3][4][5] Core Company Insights - **Company Positioning**: CyberArk has evolved from traditional PAM to a broader identity security market, capturing significant demand due to the urgency of identity protection [3][5] - **Growth in PAM**: The core PAM market remains vibrant with substantial growth opportunities, particularly in modern use cases and among highly privileged users who are not fully secured [6][7][12] Customer Dynamics - **Customer Demand**: There is robust demand for identity security solutions, with customers increasingly seeking multi-product solutions that address high-priority areas [9][10] - **Expansion Opportunities**: CyberArk has established multi-year roadmaps with strategic customers, allowing for ongoing expansion within existing accounts [11][12] Competitive Landscape - **Emerging Competitors**: Non-traditional identity security players, such as CrowdStrike, are entering the identity space, but CyberArk differentiates itself through a preventative and deterministic approach to identity security [14][15][23] - **Consolidation of Trust**: Customers are looking for trusted vendors to reduce the number of cybersecurity vendors they engage with, emphasizing the importance of a unified identity security platform [20][21] Product Development and Innovation - **Identity Security Platform**: CyberArk is focused on creating a unified user experience across its identity security offerings, which is essential for effective deployment and management [22][19] - **Acquisition of Zillow**: The acquisition aims to enhance CyberArk's Identity Governance and Administration (IGA) capabilities, addressing the need for modern, efficient IGA solutions that integrate with existing identity security frameworks [40][41][44] Machine Identity and AI - **Machine Identity Security**: There is a growing recognition of the security importance of machine identities, with CyberArk positioned to address this need through its solutions [28][29][32] - **AI Integration**: CyberArk is actively working on incorporating AI into its solutions to enhance productivity and security, particularly in managing access to AI systems [34][36][38] Future Opportunities - **Market Potential**: There remains a significant opportunity for CyberArk to secure a large number of unsecured identities, both human and machine, as well as to expand its offerings in the evolving landscape of identity security [54][55] - **Long-term Vision**: The company is optimistic about its growth trajectory, with plans to deepen and broaden its solutions to meet the increasing demands of the market [55][56]

Core Insights - Cerby has announced a $40 million Series B funding round led by DTCP, with participation from existing investors including Okta Ventures, Salesforce Ventures, and Two Sigma Ventures [1][9] - The company aims to expand its identity security automation platform in response to increasing demand for solutions that secure disconnected applications [4][5] Company Overview - Cerby is the first platform to automate the full identity lifecycle for disconnected applications, covering aspects from credentials and authentication to lifecycle management and privileged access [3] - The platform integrates with existing Enterprise Password Management (EPM), Identity and Access Management (IAM), Identity Governance and Administration (IGA), and Privileged Access Management (PAM) systems, providing centralized access controls and automating manual security tasks [8] Market Demand - The proliferation of SaaS, cloud, mobile, and on-premise applications has significantly expanded the enterprise attack surface, increasing the need for scalable and advanced identity security solutions [2] - Cerby is focusing on growth in key markets such as Germany, France, the UK, and strategic regions in the Middle East, where regulatory pressures and enterprise complexity are driving demand for its solutions [5] Growth Metrics - Since its Series A funding round less than 20 months ago, Cerby has increased its Annual Recurring Revenue (ARR) by 10 times and expanded its customer base by 5 times, now automating identity workflows across more than 2,000 applications and supporting over 100 organizations globally [6]

Financial Data and Key Metrics Changes - The company reported solid Q1 results with exceptional cash flow and record operating profitability and profit margin [16] - For Q2 FY '26, total revenue growth is expected to be 10%, with current RPO growth of 10% to 11%, and a non-GAAP operating margin of 26% [20] - For the full year FY '26, total revenue growth is projected at 9% to 10%, with a non-GAAP operating margin of 25% and a free cash flow margin of approximately 27% [20] Business Line Data and Key Metrics Changes - The governance portfolio, including Okta Identity Governance, lifecycle management, and workflows, has seen substantial growth, with workflow executions increasing nearly 400% over the past three years [8] - The Auth0 platform performed well, contributing positively to the overall results, particularly following a record Q4 [16][17] Market Data and Key Metrics Changes - The US public sector vertical has shown strength, with significant deals contributing to Q1 results, including federal contracts [18] - International markets experienced a deceleration compared to the US, but specific details on the impact were not disclosed [34] Company Strategy and Development Direction - The company is focused on product innovation, with new offerings such as Okta Identity Governance and Auth for GenAI, aimed at addressing evolving cyber threats and enhancing security [7][12] - Okta is positioning itself as a leader in identity security, emphasizing the importance of consolidating disparate identity systems for customers [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong customer conversations and the importance of identity solutions in the context of AI projects [26][30] - There is a cautious approach to guidance due to potential macroeconomic uncertainties, although no immediate impacts were observed in Q1 [28][30] Other Important Information - The company is committed to maintaining its investment levels despite a cautious macro outlook, indicating confidence in long-term growth opportunities [110] - The introduction of suite-based pricing for the Okta platform has shown positive results, with customers interested in purchasing multiple products [62] Q&A Session Summary Question: What factors influenced the additional conservatism in guidance? - Management noted that while Q1 results were strong, there is a cautious tone in the environment, prompting a conservative approach in guidance [28][30] Question: Was there any softness in April? - Management confirmed that there was no softness in April, and performance remained solid throughout the quarter [35] Question: How is the go-to-market specialization progressing? - Management reported a solid start to the specialization process, with strong performance in the Auth0 side and pipeline building [41][42] Question: What is the outlook for new logo pipeline in the workforce business? - Management expressed optimism about the new logo pipeline, highlighting the potential of new products to attract new customers [91][92] Question: How should investors interpret the guidance for CRPO? - Management explained that the guidance reflects a cautious approach due to macroeconomic factors, but emphasized that the underlying business remains strong [55][107]

Q1 FY26 Investor Presentation May 27, 2025 © Okta and/or its affiliates. All rights reserved. © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient's Internal Use Only. Safe Harbor This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and ...

Core Viewpoint - The rising U.S. budget deficit is impacting investor sentiment, leading to stock sell-offs, which may present buying opportunities for informed investors [1] Group 1: Uber Technologies (UBER) - Uber Technologies is highlighted as a stock pick following its Go-Get 2025 event, where it introduced new products aimed at user attraction [3][4] - Evercore analyst Mark Mahaney reiterated a buy rating on UBER with a price target of $115, noting the launch of Price Lock and Prepaid Pass as significant new offerings [4][5] - Mahaney believes Uber can sustain approximately 30% earnings growth, maintaining its position as one of Evercore's top "Longs" despite a solid year-to-date rally [7] Group 2: CyberArk Software (CYBR) - CyberArk Software reported better-than-expected Q1 2025 results, with subscription annual recurring revenue reaching $1.028 billion [8] - Baird analyst Shrenik Kothari reaffirmed a buy rating on CYBR, raising the price target to $460, citing strong performance across key metrics [9][10] - Kothari noted that CyberArk's identity security platform continues to attract customers, with no impact from macro pressures on deal flow [12] Group 3: Palo Alto Networks (PANW) - Palo Alto Networks delivered market-beating earnings and revenue for Q3 FY25, although its adjusted gross margin fell short of expectations [14] - TD Cowen analyst Shaul Eyal reiterated a buy rating on PANW with a price target of $230, highlighting strong results and significant product revenue growth [15][16] - Eyal expects Palo Alto to remain a market leader in next-gen firewalls and to expand into adjacent security markets, leveraging its large customer base for cross-selling opportunities [18]

Okta (OKTA) is set to release first-quarter fiscal 2026 results on May 27.For the fiscal first quarter of 2026, Okta anticipates non-GAAP earnings in the range of 76-77 cents per share. Revenues are expected to be in the range of $678-$680 million, indicating growth of 10% from the year-ago period’s reported figure.The Zacks Consensus Estimate for earnings has remained steady at 77 cents per share over the past 30 days, indicating year-over-year growth of 18.46%. The consensus mark for revenues is pegged at ...

CyberArk Software Ltd. (CYBR) posted first-quarter 2025 non-GAAP earnings of 98 cents per share, which surpassed the Zacks Consensus Estimate by 24%. The figure improved 30.7% year over year.CyberArk’s first-quarter 2025 revenues of $317.6 million exceeded the consensus mark by 3.9%. The top line jumped 43.4% year over year, primarily driven by the company’s robust dominance in identity security and world-class execution levels at every step.The better-than-expected revenues led CyberArk to increase its 202 ...

CyberArk Software (CYBR) FY Conference May 14, 2025 08:40 AM ET Speaker0 All right, here we go. All right, good morning everyone. My name is Brian Essex. I'm JPMorgan's security software analyst. Thank you for joining us this morning. With me I have Matt Cohen, the CEO of CyberArk, and Eric Smith, their newly minted CFO. So thank you so much both of you for joining us. One thing before we get started, I do think for those listening via webcast, there's an opportunity to answer questions online and I could t ...