CyberArk Software(CYBR) - 2025 Q1 - Earnings Call Presentation

Financial Performance - CyberArk's Q1 2025 Annual Recurring Revenue (ARR) reached $1,215 million[11], and total revenue was $318 million[11] - The company achieved a Non-GAAP Operating Income of $58 million[11], resulting in an 18% Non-GAAP Operating Margin[11] - Free Cash Flow (FCF) for Q1 2025 was $96 million[11], yielding a 30% FCF Margin[11] - Subscription portion of ARR grew 65% year-over-year[60], while total ARR grew 50% year-over-year[60] - In Q1 2025, 79% of revenue came from subscriptions, compared to 71% in Q1 2024[88] Market and Strategic Positioning - CyberArk estimates its Total Addressable Market (TAM) to be $80 billion[5] - The company has approximately 10,000 global customers[5] - Over 90% of CyberArk's revenue is recurring[5] - CyberArk is operating under the "Rule of 40" in FY 2024[5] - CyberArk anticipates full year 2025 Annual Recurring Revenue (ARR) between $1.410 billion and $1.420 billion, representing 21% growth year-over-year[84] Machine Identity Security - There are over 80 times more machine identities compared to human identities[49] - 72% of organizations experienced at least one certificate-related outage per year[49] - 81% of security leaders believe machine identity will be a vital element of securing the future of AI[49]