Welcome to our dedicated page for CyberArk Software Ltd. news (Ticker: CYBR), a resource for investors and traders seeking the latest updates and insights on CyberArk Software Ltd. stock.
CyberArk Software Ltd. (NASDAQ: CYBR) is a leading information technology security company specializing in protecting the heart of the enterprise from targeted cyber threats. For over a decade, CyberArk has been at the forefront of enterprise security, focusing on safeguarding privileged accounts, credentials, and secrets from malicious attacks.
CyberArk’s comprehensive suite of products includes Privileged Access Manager, Vendor Privileged Access Manager, Privileged Session Manager (PSM), Enterprise Password Vault (EPV), PrivateArk, and Privilege Cloud. These solutions are designed to prevent attackers from escalating their access and causing irreparable business harm.
The company is trusted by the world's leading organizations, including 40% of the Fortune 100, to protect their most valuable information assets, infrastructure, and applications. CyberArk has a strong presence across the globe, with significant revenue generated from the United States and notable operations in Europe, the Middle East, Africa, and other regions.
Recently, CyberArk has achieved several milestones, including expanding its product portfolio and forging strategic partnerships to enhance its security offerings. These initiatives underscore the company’s commitment to innovation and leadership in the cybersecurity landscape.
In an era where cyber threats are increasingly sophisticated and regulatory demands for stronger protection of privileged accounts are on the rise, CyberArk’s solutions are more relevant and critical than ever. The company’s mission is clear: to stop attacks before they can halt business operations and to help organizations stay ahead of potential threats.
CyberArk (NASDAQ: CYBR) has announced enhancements to its Workforce Password Management solution, aimed at improving security and reducing risk for organizations. These updates enable administrators to control user-added sensitive accounts, support CAPTCHA for web apps, and enhance reporting for user-added applications. Notably, Pacific Dental recently adopted this solution to modernize its password management and improve access to resources. CyberArk emphasizes the necessity of dynamic password management to combat evolving security threats, integrating these enhancements as part of their Identity Security platform.
CyberArk (NASDAQ: CYBR) has announced its participation in three upcoming investor conferences in San Francisco, showcasing its leadership in Identity Security. The conferences include:
- JMP Securities Technology Conference: March 6, 2023, at 3:00 p.m. PST
- Morgan Stanley Technology, Media & Telecom Conference: March 7, 2023, at 12:15 p.m. PST
- KeyBanc Emerging Technology Summit: March 8, 2023, at 10:00 a.m. PST
The presentations will be available via live webcast and later archived on the CyberArk investor relations website.
CyberArk (NASDAQ: CYBR) has been recognized as an Overall Leader in the KuppingerCole Analysts AG 2023 'Leadership Compass: Privileged Access Management'. This accolade reflects CyberArk's proficiency across product excellence, innovation, and market leadership. The recognition highlights the company’s strong threat analytics capabilities and effective DevOps support. With over 8,000 customers, CyberArk is focused on reducing risk through innovative PAM solutions. The report also emphasizes CyberArk's superior analytics and benchmark products, supporting its position as a trusted market leader amidst the evolving cybersecurity landscape.
CyberArk reported strong financial results for 2022, achieving a total Annual Recurring Revenue (ARR) of $570 million, a 45% year-over-year growth. The subscription ARR portion reached $364 million, increasing 99% year-over-year. Total revenue was $591.7 million, up 18% year-over-year. The fourth quarter saw subscription revenue of $88.5 million, an 86% increase. Operating losses were $(30.1) million for Q4 and $(152.5) million for the full year. CyberArk announced executive changes with CEO Udi Mokady transitioning to Executive Chair in April 2023. Guidance for 2023 indicates revenue growth between 22% to 24% and potential for $736 million ARR.
CyberArk (NASDAQ: CYBR) has announced a leadership transition effective April 3, 2023. Udi Mokady, the current Founder, Chairman, and CEO, will transition to the Executive Chair of the Board of Directors. Matt Cohen, who has served as Chief Operating Officer, will take over as CEO. Mokady emphasized the importance of continuity and strategic alignment under Cohen's leadership, highlighting the company's strong performance with $570 million in Annual Recurring Revenue and over 8,000 customers. The transition aims to preserve CyberArk's unique culture while pursuing profitable growth.
nsKnox, a leader in Bank Account Validation, announced $17 million in new funding, totaling $35.6 million to date. The funding round included investments from Link Ventures and Harel Insurance, alongside existing investors like Microsoft’s M12. The capital will enhance nsKnox's Go-to-Market infrastructure and product suite, responding to increasing demand for fraud prevention solutions amid rising cyber-enabled fraud attacks. The company reported a 125% growth in annual recurring revenue, securing numerous global corporate clients. nsKnox utilizes patented technologies to secure B2B payments and combat fraud effectively.
CyberArk (NASDAQ: CYBR) will report its fourth quarter and year-end 2022 financial results on February 9, 2023, before U.S. markets open. A conference call to discuss these results and the business outlook will occur at 8:00 a.m. ET on the same day. Investors can join the call by dialing +1 (888) 330-2455 in the U.S. or +1 (240) 789-2717 internationally, using conference ID 6515982. The call will also be available via a live webcast on CyberArk's website.
CyberArk has appointed Omer Grossman as Global Chief Information Officer (CIO). With over 25 years of military experience, especially in cybersecurity and cloud infrastructure, Grossman will lead CyberArk's Global Information Technology group. His extensive background includes leading the IDF's Cyber Defense Operations Center and overseeing cloud services for various military branches. CEO Udi Mokady expressed confidence in Grossman's ability to address complex challenges and enhance CyberArk's Identity Security solutions as they continue to grow.
Skybox Security has appointed Corey Williams as Chief Marketing Officer, bringing 25 years of experience in cybersecurity marketing. Previously head of Identity Security Marketing at CyberArk (NASDAQ: CYBR), Williams aims to enhance Skybox's market growth and core marketing strategy. His expertise includes establishing the identity security category and leading significant revenue growth at CyberArk. Skybox is currently launching a Software-as-a-Service solution for Security Policy and Vulnerability Management, indicating a strong push towards proactive cybersecurity.
CyberArk (NASDAQ: CYBR) has been recognized as an Overall Leader in the KuppingerCole Analysts AG 2022 “Leadership Compass: Passwordless Authentication” report. The report highlights CyberArk's strong performance in Product, Innovation, and Market categories, emphasizing its comprehensive Passwordless Authentication solutions. As organizations increase adoption of remote work, CyberArk's platform is noted for securing identities across various environments, thereby enhancing Identity Security initiatives.
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