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CyberArk Software Rallies On Earnings, Revenue Beat

Stock Markets Aug 10, 2022 10:46
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By Sam Boughedda

CyberArk Software (NASDAQ:CYBR) jumped more than 10% Wednesday on the back of its second-quarter results, which saw it top earnings and revenue expectations.

The software company reported a second quarter loss of $0.27 per share, better than the analyst estimate of a loss of $0.30. Revenue for the quarter came in at $142.3 million versus the consensus estimate of $138.45 million.

The company also reported a total ARR of $465 million with growth of 48% and subscription revenue of $66 million, with growth accelerating to 144%.

“We had an outstanding second quarter with momentum continuing to build for our Identity Security platform,” said Udi Mokady, CyberArk Chairman and CEO.

The company said its second quarter performance was driven by robust demand, execution, and strong industry tailwinds, which drove strength in its bookings.

Looking ahead, CyberArk sees a third quarter loss per share between $0.27 and $0.14, versus the consensus of a loss of $0.22 per share. In addition, third quarter revenue is expected to be in a range of $147 million to $153 million, versus the consensus of $148.3 million.

A full-year loss of $0.82 to $0.57 per share is expected, versus the consensus of a loss of $0.73 per share, while full-year revenue is seen between $589 million and $601 million, versus the consensus of $591.7 million.

CyberArk Software Rallies On Earnings, Revenue Beat
 

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