CyberArk Software Ltd

Latest Results (14.08.2024):

Revenue Growth

CyberArk Software Ltd reported total revenue of $224.7 million for the second quarter of 2024, marking a 28 percent increase from $175.8 million in the second quarter of 2023. This growth was driven by a significant rise in subscription revenue, which reached $158.4 million, up 49 percent from $106.2 million in the same period last year.

Operating Income

For the second quarter of 2024, CyberArk Software Ltd achieved a non-GAAP operating income of $23.7 million, a notable improvement compared to a non-GAAP operating loss of $(5.6) million in the second quarter of 2023. This positive shift underscores the company's enhanced operational efficiency and cost management.

Net Income

CyberArk Software Ltd reported a non-GAAP net income of $26.1 million, or $0.54 per diluted share, for the second quarter of 2024. This is a significant increase from the non-GAAP net income of $1.3 million, or $0.03 per diluted share, reported in the same quarter of the previous year.

Annual Recurring Revenue

As of June 30, 2024, CyberArk Software Ltd's Annual Recurring Revenue (ARR) stood at $868 million, reflecting a 33 percent increase from $653 million at the end of June 2023. The subscription portion of ARR was $677 million, representing 78 percent of the total ARR, up 50 percent from $451 million in the previous year.

Business Outlook

CyberArk Software Ltd has raised its guidance for the full year 2024, projecting total revenue to be in the range of $932.0 million to $942.0 million, which represents a growth of 24 percent to 25 percent compared to the full year 2023. The company also expects non-GAAP net income per share to be in the range of $2.17 to $2.36 per diluted share.