CyberArk Software Ltd. - CYBR STOCK NEWS

CyberArk (NASDAQ: CYBR) has announced its participation in the 16th Annual Needham Security, Networking, & Communications Conference. The virtual event will take place on Tuesday, November 15, 2022, at 9:30 a.m. EST. The presentation will be available via live webcast, with an archived version accessible later on their investor relations website. CyberArk is recognized as a global leader in Identity Security, providing comprehensive security solutions for various identity types.

CyberArk has been recognized as a Leader in both the 2022 Gartner Magic Quadrant reports for Access Management and Privileged Access Management. This distinction establishes CyberArk as the only company to hold this dual recognition. CEO Udi Mokady highlights that this reflects their commitment to comprehensive Identity Security solutions. Additionally, CyberArk was awarded accolades from KuppingerCole and the SC Awards for its innovative security offerings.

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.

CyberArk (NASDAQ: CYBR) will report its third quarter 2022 financial results before U.S. markets open on November 3, 2022. The company will host a conference call at 8:00 a.m. ET to discuss the results and business outlook. Investors can join the call by dialing +1 (888) 330-2455 (U.S.) or +1 (240) 789-2717 (international). A live webcast will also be available on CyberArk's website. Following the call, a replay will be accessible for one week. CyberArk is the leader in Identity Security, focused on privileged access management.

CyberArk has appointed Peretz Regev as chief product officer, bringing over 20 years of experience from roles at PayPal and HP Software. In this position, Regev will lead product management and innovation efforts focused on CyberArk's Identity Security vision. This strategic move aims to enhance competitive differentiation and customer value. Chen Bitan, the previous CPO, will continue as the general manager for CyberArk Israel and will manage strategic accounts in EMEA. The company emphasizes improving security through intelligent privilege controls.

CyberArk (NASDAQ: CYBR) announced its participation in two upcoming investor conferences. The first is the Citi 2022 Global Technology Conference in New York on September 7, 2022, at 12:15 p.m. EDT. The second is the Piper Sandler Growth Frontiers Conference in Nashville, Tennessee, on September 14, 2022, at 11:00 a.m. CDT. Both presentations will be webcast live, and an archive will be available on CyberArk's investor relations website. CyberArk is a leader in Identity Security, focusing on privileged access management.

CyberArk (NASDAQ: CYBR) announced new initiatives for its Channel Partner Program to enhance collaboration and efficiency. With over 1,800 security partners globally, CyberArk aims to tackle the growing cybersecurity challenges exacerbated by increased digital transformation investments.

79% of organizations prioritized business operations over cybersecurity in the past year, indicating a market opportunity for CyberArk. The program focuses on expanding routes to market, particularly through Managed Service Providers (MSPs), and enhancing partner training and resources.

CyberArk reported strong Q2 2022 results with Total ARR increasing by 48% to $465 million, led by a 133% growth in Subscription ARR to $255 million. Total revenue reached $142.3 million, up 21% year-over-year, exceeding guidance. However, the company experienced a GAAP operating loss of $(42 million) and a net loss per share of $(0.93). CyberArk raised its full-year ARR guidance to between $543 million and $549 million, projecting continued growth momentum.