CyberArk Software Ltd. - CYBR STOCK NEWS

CyberArk (NASDAQ: CYBR) announced it will report its first quarter 2023 financial results on May 11, 2023, before U.S. markets open. A conference call will take place that day at 8:00 a.m. ET to discuss financial results and business outlook. Investors can access the call by dialing +1 (888) 330-2455 in the U.S. or +1 (240) 789-2717 internationally. The conference ID is 6515982. A replay will be available for one week after the call.

CyberArk, the leader in Identity Security, provides advanced security solutions for human and machine identities across various platforms. The company focuses on privileged access management, helping organizations protect their critical assets.

CyberArk (NASDAQ: CYBR) has successfully completed its Service Organization Control (SOC) 2 Type 2 and SOC 3 certifications, confirming its high security standards for its Identity Security platform. This includes expanded SOC 2 compliance for CyberArk Secure Web Sessions. The platform provides intelligent controls and continuous threat detection across the identity lifecycle, enabling Zero Trust and least privilege access. The certifications, conducted by A-LIGN Assurance, demonstrate CyberArk's commitment to security and compliance, ensuring the safeguarding of customer data.

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.