CyberArk Announces Strong Third Quarter 2022 Results
CyberArk (NASDAQ: CYBR) reported robust financial results for Q3 2022, with Annual Recurring Revenue (ARR) reaching $512 million, up 49% year over year. The subscription portion of ARR stood at $301 million, reflecting a growth of 117%. Total revenue for the quarter was $152.7 million, growing 26%. Despite these gains, the company reported a GAAP net loss of $32.7 million or $(0.80) per share. CyberArk has raised its full-year ARR guidance to between $552 million and $558 million, indicating a continued strong demand for its Identity Security solutions.
- ARR increased to $512 million, up 49% YoY.
- Subscription ARR rose to $301 million, a 117% increase.
- Total revenue reached $152.7 million, growing 26%.
- Generated $29.2 million in net cash from operating activities.
- Raised full-year ARR guidance to $552-$558 million.
- GAAP net loss of $32.7 million in Q3 2022.
- Non-GAAP operating loss of $(4.0) million in Q3 2022.
Subscription Portion of Annual Recurring Revenue (ARR) of
Total ARR of
Subscription Revenue of
Total Revenue of
Full Year ARR Guidance Range Increased to a Range of
“Strong demand for our Identity Security platform centered on intelligent privilege controls continues to fuel our growth and demonstrates the durability of demand for our solutions,” said
Financial Summary for the Third Quarter Ended
-
Subscription revenue was
$74.2 million $35.3 million -
Maintenance and professional services revenue was
$64.6 million $63.3 million -
Perpetual license revenue was
$13.8 million $23.0 million -
Total revenue was
$152.7 million $121.6 million -
GAAP operating loss was
$(39.3) million $(4.0) million -
GAAP net loss was
$(32.7) million $(0.80) $(2.3) million $(0.06)
Balance Sheet and Net Cash Provided by Operating Activities
-
As of
September 30, 2022 ,CyberArk had$1.2 billion -
During the first nine months of 2022, the Company generated
$29.2 million -
As of
September 30, 2022 , total deferred revenue was$376.1 million $280.9 million September 30, 2021 .
Key Business Highlights
-
Annual Recurring Revenue (ARR) was
$512 million $344 million September 30, 2021 .-
The subscription portion of ARR was
$301 million September 30, 2022 . This represents an increase of 117 percent from$139 million September 30, 2021 . -
The Maintenance portion of ARR was
$211 million September 30, 2022 , compared to$206 million September 30, 2021 .
-
The subscription portion of ARR was
-
Recurring revenue was
$128.5 million $88.9 million - Added a strong number of new logos in the quarter, signing nearly 230 new customers during the third quarter of 2022.
- 87 percent of total license bookings were related to subscription bookings, compared to approximately 72 percent in the third quarter of 2021.
Recent Developments
-
CyberArk announces appointment ofPeretz Regev as Chief Product Officer, bringing more than 20 years of senior leadership and product engineering experience toCyberArk . -
CyberArk won the 2022 SC Award for Best Identity Management Solution, recognizing our Identity Security Platform’s leading position. -
CyberArk publishes its Second Annual Environmental, Social and Governance (ESG) Report.
Business Outlook
Based on information available as of
Fourth Quarter 2022:
-
Total revenue is expected to be in the range of
$169.9 million $176.9 million -
Non-GAAP operating income is expected to be in the range of
$2.0 million $8.0 million -
Non-GAAP net income per share is expected to be in the range of
$0.07 $0.20 - Assumes 45.8 million weighted average diluted shares.
Full Year 2022:
-
Total revenue is expected to be in the range of
$592.5 million $599.5 million -
Non-GAAP operating loss is expected to be in the range of
$(24.5) million $(18.5) million -
Non-GAAP net loss per share is expected to be in the range of
$(0.54) $(0.39) - Assumes 40.7 million weighted average basic and diluted shares.
-
ARR as of
December 31, 2022 is expected to be in the range of$552 million $558 million December 31, 2021 .
Conference Call Information
In conjunction with this announcement,
Following the conference call, a replay will be available for one week at +1 (800) 770-2030 (
About
Copyright © 2022
Key Performance Indicators and Non-GAAP Financial Measures
Annual Recurring Revenue (ARR)
- Annual Recurring Revenue (ARR) is defined as the annualized value of active SaaS, subscription or term-based license and maintenance contracts related to perpetual licenses in effect at the end of the reported period.
Subscription Portion of Annual Recurring Revenue
- Subscription portion of ARR is defined as the annualized value of active SaaS and subscription or term-based license contracts in effect at the end of the reported period. The subscription portion of ARR excludes maintenance contracts related to perpetual licenses.
Maintenance Portion of Annual Recurring Revenue
- Maintenance portion of ARR is defined as the annualized value of active maintenance contracts related to perpetual licenses. The Maintenance portion of ARR excludes SaaS and subscription or term-based license contracts in effect at the end of the reported period.
Recurring Revenue
- Recurring Revenue is defined as revenue derived from SaaS and subscription or term-based license contracts, and maintenance contracts related to perpetual licenses during the reported period.
Non-GAAP Financial Measures
- Non-GAAP gross profit is calculated as GAAP gross profit excluding share-based compensation expense, and amortization of intangible assets related to acquisitions.
- Non-GAAP operating expense is calculated as GAAP operating expenses excluding share-based compensation expense, facility exit costs, acquisition related expenses and amortization of intangible assets related to acquisitions.
- Non-GAAP operating income (loss) is calculated as GAAP operating loss excluding share-based compensation expense, facility exit costs, acquisition related expenses and amortization of intangible assets related to acquisitions.
- Non-GAAP net income (loss) is calculated as GAAP net loss excluding share-based compensation expense, facility exit costs, acquisition related expenses, amortization of intangible assets related to acquisitions, amortization of debt discount and issuance costs, the tax effect of non-GAAP adjustments and unrealized gain from investment in private held companies.
- Free cash flow is calculated as net cash provided by operating activities less purchase of property and equipment.
- The Company believes that providing non-GAAP financial measures that are adjusted by, as applicable, share-based compensation expense, facility exit costs, acquisition related expenses, amortization of intangible assets related to acquisitions, non-cash interest expense related to the amortization of debt discount and issuance cost, the tax effect of the non-GAAP adjustments, unrealized gain from investment in private held companies and purchase of property and equipment allows for more meaningful comparisons of its period to period operating results. Share-based compensation expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Company’s business and an important part of the compensation provided to its employees. Share based compensation expense has varying available valuation methodologies, subjective assumptions and a variety of equity instruments that can impact a company’s non-cash expense. The Company believes that expenses related to its facility exit costs, acquisitions, amortization of intangible assets related to acquisitions and non-cash interest expense related to the amortization of debt discount and issuance costs do not reflect the performance of its core business and impact period-to-period comparability. The Company believes free cash flow is a liquidity measure that, after the purchase of property and equipment, provides useful information about the amount of cash generated by the business.
Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies in the industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. In addition, there are limitations in using non-GAAP financial measures as they exclude expenses that may have a material impact on the Company’s reported financial results. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with
Guidance for non-GAAP financial measures excludes, as applicable, share-based compensation expense, acquisition related expenses, amortization of intangible assets related to acquisitions, non-cash interest expense related to the amortization of debt discount and issuance costs and the tax effect of the non-GAAP adjustments. A reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures is not available on a forward-looking basis due to the uncertainty regarding, and the potential variability and significance of, the amounts of share-based compensation expense, amortization of intangible assets related to acquisitions, and the non-recurring expenses that are excluded from the guidance. Accordingly, a reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures for future periods is not available without unreasonable effort.
Cautionary Language Concerning Forward-Looking Statements
This release contains forward-looking statements, which express the current beliefs and expectations of CyberArk’s (the “Company”) management. In some cases, forward-looking statements may be identified by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential” or the negative of these terms or other similar expressions. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company’s future results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: changes to the drivers of the Company’s growth and its ability to adapt its solutions to IT security market demands; the transition of the Company’s business to a subscription model that began in 2021; the Company’s sales cycles and multiple pricing and delivery models; unanticipated product vulnerabilities or cybersecurity breaches of the Company’s, or the Company’s customers’ or partners’ systems; an increase in competition within the Privileged Access Management and Identity Security markets; the Company’s ability to hire, train, retain and motivate qualified personnel; the Company’s ability to sell into existing and new customers and industry verticals; risks related to compliance with privacy and data protection laws and regulations; the Company’s history of incurring net losses and our ability to achieve profitability in the future; the duration and scope of the COVID-19 pandemic and its impact on global and regional economies and the resulting effect on the demand for the Company’s solutions and on its expected revenue growth rates and costs; the Company’s ability to find, complete, fully integrate or achieve the expected benefits of additional strategic acquisitions; reliance on third-party cloud providers for the Company’s operations and SaaS solutions; the Company’s ability to expand its sales and marketing efforts and expand its channel partnerships across existing and new geographies; risks related to sales made to government entities; regulatory and geopolitical risks associated with global sales and operations (including the current conflict between
| CYBERARK SOFTWARE LTD. | ||||||||||||||||||
| Consolidated Statements of Operations | ||||||||||||||||||
| U.S. dollars in thousands (except per share data) | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|||||||
| Revenues: | ||||||||||||||||||
| Subscription | $ |
35,290 |
|
$ |
74,249 |
|
$ |
87,071 |
|
$ |
192,198 |
|
||||||
| Perpetual license |
|
23,041 |
|
|
13,790 |
|
|
77,064 |
|
|
35,385 |
|
||||||
| Maintenance and professional services |
|
63,270 |
|
|
64,631 |
|
|
187,462 |
|
|
194,976 |
|
||||||
| Total revenues |
|
121,601 |
|
|
152,670 |
|
|
351,597 |
|
|
422,559 |
|
||||||
| Cost of revenues: | ||||||||||||||||||
| Subscription |
|
6,457 |
|
|
12,214 |
|
|
17,714 |
|
|
32,487 |
|
||||||
| Perpetual license |
|
936 |
|
|
703 |
|
|
2,925 |
|
|
1,980 |
|
||||||
| Maintenance and professional services |
|
16,022 |
|
|
19,548 |
|
|
46,972 |
|
|
56,751 |
|
||||||
| Total cost of revenues |
|
23,415 |
|
|
32,465 |
|
|
67,611 |
|
|
91,218 |
|
||||||
| Gross profit |
|
98,186 |
|
|
120,205 |
|
|
283,986 |
|
|
331,341 |
|
||||||
| Operating expenses: | ||||||||||||||||||
| Research and development |
|
38,014 |
|
|
48,437 |
|
|
101,374 |
|
|
138,844 |
|
||||||
| Sales and marketing |
|
69,596 |
|
|
90,298 |
|
|
196,837 |
|
|
254,536 |
|
||||||
| General and administrative |
|
18,305 |
|
|
20,738 |
|
|
52,263 |
|
|
60,342 |
|
||||||
| Total operating expenses |
|
125,915 |
|
|
159,473 |
|
|
350,474 |
|
|
453,722 |
|
||||||
| Operating loss |
|
(27,729 |
) |
|
(39,268 |
) |
|
(66,488 |
) |
|
(122,381 |
) |
||||||
| Financial income (expense), net |
|
(3,686 |
) |
|
3,641 |
|
|
(9,747 |
) |
|
6,269 |
|
||||||
| Loss before taxes on income |
|
(31,415 |
) |
|
(35,627 |
) |
|
(76,235 |
) |
|
(116,112 |
) |
||||||
| Tax benefit |
|
2,309 |
|
|
2,902 |
|
|
9,176 |
|
|
7,948 |
|
||||||
| Net loss | $ |
(29,106 |
) |
$ |
(32,725 |
) |
$ |
(67,059 |
) |
$ |
(108,164 |
) |
||||||
| Basic loss per ordinary share, net | $ |
(0.73 |
) |
$ |
(0.80 |
) |
$ |
(1.70 |
) |
$ |
(2.67 |
) |
||||||
| Diluted loss per ordinary share, net | $ |
(0.73 |
) |
$ |
(0.80 |
) |
$ |
(1.70 |
) |
$ |
(2.67 |
) |
||||||
| Shares used in computing net loss | ||||||||||||||||||
| per ordinary shares, basic |
|
39,848,343 |
|
|
40,834,640 |
|
|
39,531,960 |
|
|
40,488,909 |
|
||||||
| Shares used in computing net loss | ||||||||||||||||||
| per ordinary shares, diluted |
|
39,848,343 |
|
|
40,834,640 |
|
|
39,531,960 |
|
|
40,488,909 |
|
||||||
CYBERARK SOFTWARE LTD. |
||||||||
Consolidated Balance Sheets |
||||||||
U.S. dollars in thousands |
||||||||
(Unaudited) |
||||||||
|
|
|||||||
2021 |
2022 |
|||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ |
356,850 |
$ |
324,533 |
||||
| Short-term bank deposits |
|
369,645 |
|
323,618 |
||||
| Marketable securities |
|
199,933 |
|
301,341 |
||||
| Trade receivables |
|
113,211 |
|
89,346 |
||||
| Prepaid expenses and other current assets |
|
22,225 |
|
22,807 |
||||
| Total current assets |
|
1,061,864 |
|
1,061,645 |
||||
| LONG-TERM ASSETS: | ||||||||
| Marketable securities |
|
300,662 |
|
237,063 |
||||
| Property and equipment, net |
|
20,183 |
|
22,347 |
||||
| Intangible assets, net |
|
17,866 |
|
29,366 |
||||
| Goodwill |
|
123,717 |
|
154,506 |
||||
| Other long-term assets |
|
121,743 |
|
168,083 |
||||
| Deferred tax asset |
|
47,167 |
|
72,458 |
||||
| Total long-term assets |
|
631,338 |
|
683,823 |
||||
| TOTAL ASSETS | $ |
1,693,202 |
$ |
1,745,468 |
||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Trade payables | $ |
10,076 |
$ |
10,416 |
||||
| Employees and payroll accruals |
|
75,442 |
|
63,314 |
||||
| Accrued expenses and other current liabilities |
|
23,576 |
|
35,964 |
||||
| Deferred revenues |
|
230,908 |
|
288,847 |
||||
| Total current liabilities |
|
340,002 |
|
398,541 |
||||
| LONG-TERM LIABILITIES: | ||||||||
| Convertible senior notes, net |
|
520,094 |
|
568,597 |
||||
| Deferred revenues |
|
86,367 |
|
87,242 |
||||
| Other long-term liabilities |
|
20,227 |
|
34,773 |
||||
| Total long-term liabilities |
|
626,688 |
|
690,612 |
||||
| TOTAL LIABILITIES |
|
966,690 |
|
1,089,153 |
||||
| SHAREHOLDERS' EQUITY: | ||||||||
| Ordinary shares of |
|
104 |
|
107 |
||||
| Additional paid-in capital |
|
588,937 |
|
621,316 |
||||
| Accumulated other comprehensive income (loss) |
|
397 |
|
(20,621) |
||||
| Retained earnings |
|
137,074 |
|
55,513 |
||||
| Total shareholders' equity |
|
726,512 |
|
656,315 |
||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ |
1,693,202 |
$ |
1,745,468 |
||||
|
||||
Consolidated Statements of Cash Flows |
||||
|
||||
(Unaudited) |
||||
| Nine Months Ended | ||||
2021 |
2022 |
|||
| Cash flows from operating activities: | ||||
| Net loss | $ |
(67,059) |
$ |
(108,164) |
| Adjustments to reconcile net loss to net cash | ||||
| provided by operating activities: | ||||
| Depreciation and amortization |
|
10,523 |
|
11,883 |
| Amortization of premium and accretion of discount on marketable securities, net |
|
5,593 |
|
3,976 |
| Share-based compensation |
|
68,774 |
|
88,593 |
| Deferred income taxes, net |
|
(11,928) |
|
(14,267) |
| Decrease in trade receivables |
|
11,681 |
|
23,865 |
| Amortization of debt discount and issuance costs |
|
13,285 |
|
2,234 |
| Increase in prepaid expenses, other current and long-term assets and others |
|
(14,049) |
|
(16,988) |
| Increase in trade payables |
|
1,628 |
|
509 |
| Increase in short-term and long-term deferred revenues |
|
38,353 |
|
58,814 |
| Increase (decrease) in employees and payroll accruals |
|
3,385 |
|
(16,285) |
| Decrease in accrued expenses and other current and long-term liabilities |
|
(5,883) |
|
(4,959) |
| Net cash provided by operating activities |
|
54,303 |
|
29,211 |
| Cash flows from investing activities: | ||||
| Proceeds from (investment in) short and long term deposits, net |
|
(73,832) |
|
43,585 |
| Investment in marketable securities and other |
|
(221,347) |
|
(318,566) |
| Proceeds from sales and maturities of marketable securities |
|
170,511 |
|
256,899 |
| Purchase of property and equipment |
|
(7,187) |
|
(8,778) |
| Payments for business acquisitions, net of cash acquired |
|
- |
|
(41,285) |
| Net cash used in investing activities |
|
(131,855) |
|
(68,145) |
| Cash flows from financing activities: | ||||
| Proceeds from (payment of) withholding tax related to employee stock plans |
|
4,498 |
|
(811) |
| Proceeds from exercise of stock options |
|
9,608 |
|
1,729 |
| Proceeds in connection with employees stock purchase plan |
|
- |
|
12,322 |
| Payments of contingent consideration related to acquisitions |
|
- |
|
(1,578) |
| Net cash provided by financing activities |
|
14,106 |
|
11,662 |
| Decrease in cash, cash equivalents and restricted cash |
|
(63,446) |
|
(27,272) |
| Effect of exchange rate differences on cash, cash equivalents and restricted cash |
|
(788) |
|
(5,045) |
| Cash, cash equivalents and restricted cash at the beginning of the period |
|
500,044 |
|
356,850 |
| Cash, cash equivalents and restricted cash at the end of the period | $ |
435,810 |
$ |
324,533 |
CYBERARK SOFTWARE LTD. |
||||||||||||||
Reconciliation of GAAP Measures to Non-GAAP Measures |
||||||||||||||
U.S. dollars in thousands (except per share data) |
||||||||||||||
(Unaudited) |
||||||||||||||
| Reconciliation of Net cash provided by operating activities to Free cash flow: | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2021 |
2022 |
2021 |
2022 |
|||||||||||
| Net cash provided by operating activities | $ |
4,801 |
$ |
18,481 |
$ |
54,303 |
$ |
29,211 |
||||||
| Less: | ||||||||||||||
| Purchase of property and equipment |
|
(2,862) |
|
(4,618) |
|
(7,187) |
|
(8,778) |
||||||
| Free cash flow | $ |
1,939 |
$ |
13,863 |
$ |
47,116 |
$ |
20,433 |
||||||
| GAAP net cash used in investing activities |
|
(2,068) |
|
(72,380) |
|
(131,855) |
|
(68,145) |
||||||
| GAAP net cash provided by (used in) financing activities |
|
6,648 |
|
(1,602) |
|
14,106 |
|
11,662 |
||||||
| Reconciliation of Gross Profit to Non-GAAP Gross Profit: | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2021 |
2022 |
2021 |
2022 |
|||||||||||
| Gross profit | $ |
98,186 |
$ |
120,205 |
$ |
283,986 |
$ |
331,341 |
||||||
| Plus: | ||||||||||||||
| Share-based compensation (1) |
|
2,984 |
|
4,030 |
|
7,991 |
|
10,962 |
||||||
| Amortization of share-based compensation capitalized in software development costs (3) |
|
65 |
|
88 |
|
172 |
|
264 |
||||||
| Amortization of intangible assets (2) |
|
1,277 |
|
1,639 |
|
3,833 |
|
4,339 |
||||||
| Non-GAAP gross profit | $ |
102,512 |
$ |
125,962 |
$ |
295,982 |
$ |
346,906 |
||||||
| Reconciliation of Operating Expenses to Non-GAAP Operating Expenses: | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2021 |
2022 |
2021 |
|
2022 |
||||||||||
| Operating expenses | $ |
125,915 |
$ |
159,473 |
$ |
350,474 |
$ |
453,722 |
||||||
| Less: | ||||||||||||||
| Share-based compensation (1) |
|
23,358 |
|
27,712 |
|
60,783 |
|
77,631 |
||||||
| Amortization of intangible assets (2) |
|
175 |
|
154 |
|
523 |
|
458 |
||||||
| Acquisition related expenses |
|
- |
|
1,653 |
|
- |
|
2,244 |
||||||
| Facility exit and transition costs |
|
- |
|
- |
|
760 |
|
- |
||||||
| Non-GAAP operating expenses | $ |
102,382 |
$ |
129,954 |
$ |
288,408 |
$ |
373,389 |
||||||
| Reconciliation of Operating Loss to Non-GAAP Operating Income (Loss): | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2021 |
2022 |
2021 |
2022 |
|||||||||||
| Operating loss | $ |
(27,729) |
$ |
(39,268) |
$ |
(66,488) |
$ |
(122,381) |
||||||
| Plus: | ||||||||||||||
| Share-based compensation (1) |
|
26,342 |
|
31,742 |
|
68,774 |
|
88,593 |
||||||
| Amortization of share-based compensation capitalized in software development costs (3) |
|
65 |
|
88 |
|
172 |
|
264 |
||||||
| Amortization of intangible assets (2) |
|
1,452 |
|
1,793 |
|
4,356 |
|
4,797 |
||||||
| Acquisition related expenses |
|
- |
|
1,653 |
|
- |
|
2,244 |
||||||
| Facility exit and transition costs |
|
- |
|
- |
|
760 |
|
- |
||||||
| Non-GAAP operating income (loss) | $ |
130 |
$ |
(3,992) |
$ |
7,574 |
$ |
(26,483) |
||||||
| Reconciliation of Net Loss to Non-GAAP Net Income (loss): | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2021 |
2022 |
2021 |
2022 |
|||||||||||
| Net loss | $ |
(29,106) |
$ |
(32,725) |
$ |
(67,059) |
$ |
(108,164) |
||||||
| Plus: | ||||||||||||||
| Share-based compensation (1) |
|
26,342 |
|
31,742 |
|
68,774 |
|
88,593 |
||||||
| Amortization of share-based compensation capitalized in software development costs (3) |
|
65 |
|
88 |
|
172 |
|
264 |
||||||
| Amortization of intangible assets (2) |
|
1,452 |
|
1,793 |
|
4,356 |
|
4,797 |
||||||
| Acquisition related expenses |
|
- |
|
1,653 |
|
- |
|
2,244 |
||||||
| Facility exit and transition costs |
|
- |
|
- |
|
760 |
|
- |
||||||
| Amortization of debt discount and issuance costs |
|
4,467 |
|
746 |
|
13,285 |
|
2,234 |
||||||
| Unrealized Gain from investment in private held companies |
|
- |
|
(324) |
|
- |
|
(324) |
||||||
| Taxes on income related to non-GAAP adjustments |
|
(5,651) |
|
(5,307) |
|
(18,637) |
|
(14,629) |
||||||
| Non-GAAP net income (loss) | $ |
(2,431) |
$ |
(2,334) |
$ |
1,651 |
$ |
(24,985) |
||||||
| Non-GAAP net income (loss) per share | ||||||||||||||
| Basic | $ |
(0.06) |
$ |
(0.06) |
$ |
0.04 |
$ |
(0.62) |
||||||
| Diluted | $ |
(0.06) |
$ |
(0.06) |
$ |
0.04 |
$ |
(0.62) |
||||||
| Weighted average number of shares | ||||||||||||||
| Basic |
|
39,848,343 |
|
40,834,640 |
|
39,531,960 |
|
40,488,909 |
||||||
| Diluted |
|
39,848,343 |
|
40,834,640 |
|
40,609,680 |
|
40,488,909 |
||||||
| (1) Share-based Compensation : | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2021 |
2022 |
2021 |
2022 |
|||||||||||
| Cost of revenues - Subscription | $ |
216 |
$ |
634 |
$ |
544 |
$ |
1,527 |
||||||
| Cost of revenues - Perpetual license |
|
54 |
|
42 |
|
168 |
|
103 |
||||||
| Cost of revenues - Maintenance and Professional services |
|
2,714 |
|
3,354 |
|
7,279 |
|
9,332 |
||||||
| Research and development |
|
5,591 |
|
6,983 |
|
14,878 |
|
19,787 |
||||||
| Sales and marketing |
|
10,856 |
|
13,654 |
|
27,620 |
|
37,415 |
||||||
| General and administrative |
|
6,911 |
|
7,075 |
|
18,285 |
|
20,429 |
||||||
| Total share-based compensation | $ |
26,342 |
$ |
31,742 |
$ |
68,774 |
$ |
88,593 |
||||||
| (2) Amortization of intangible assets : | ||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||
2022 |
2022 |
2021 |
2022 |
|||||||||||
| Cost of revenues - Subscription | $ |
1,111 |
$ |
1,598 |
$ |
3,311 |
$ |
4,231 |
||||||
| Cost of revenues - Perpetual license |
|
166 |
|
41 |
|
522 |
|
108 |
||||||
| Sales and marketing |
|
175 |
|
154 |
|
523 |
|
458 |
||||||
| Total amortization of intangible assets | $ |
1,452 |
$ |
1,793 |
$ |
4,356 |
$ |
4,797 |
||||||
| (3) Classified as Cost of revenues - Subscription. | ||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20221102006153/en/
Investor:
Phone: +1 617-558-2132
ir@cyberark.com
Media:
Phone: +1-617-558-2191
press@cyberark.com
Source:
FAQ
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