CyberArk Software Ltd. - CYBR STOCK NEWS

CyberArk (NASDAQ: CYBR) reported strong Q3 2021 results, with total revenue of $121.6 million, a 14% increase year-over-year. Subscription revenue soared 143% to $35.3 million. ARR reached $344 million, up 38%, and subscription bookings now comprise 72% of total license bookings. Despite a GAAP operating loss of ($27.7 million), the company expressed confidence in ongoing growth. CyberArk was recognized as a leader in Identity-as-a-Service by Forrester. Guidance for Q4 2021 suggests revenue between $140 million and $148 million.

CyberArk (NASDAQ: CYBR) was named the only Visionary in the 2021 Gartner Magic Quadrant for Access Management. The company is recognized for its commitment to addressing Access Management challenges amid advanced cyber threats. CyberArk's Identity Security strategy focuses on evolving privileged access management to meet customer needs. Recent innovations include Secure Web Sessions, enhancing user authentication during sensitive sessions. The report highlights the growing importance of AM tools in securing applications and data as identity becomes a pivotal security aspect.

New research from CyberArk (CYBR) reveals alarming insights into organizational security. 80% of surveyed organizations reported employee misuse of business application access, with 48% lacking adequate visibility into user logs. The average user has access to over 10 business applications containing sensitive data. Despite the launch of CyberArk Identity Secure Web Sessions, many security teams are struggling with limited resources and visibility, emphasizing the need for improved security measures to safeguard against insider threats.

CyberArk (NASDAQ: CYBR) will release its third quarter 2021 financial results on November 4, 2021, before U.S. markets open. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss the results and future business outlook. Investors can access the call via phone or through a live webcast on the company’s website. Following the call, a replay will be available for one week. CyberArk specializes in Identity Security, providing security solutions for a wide range of applications and environments.

Telefónica Tech partners with CyberArk (NASDAQ: CYBR) to enhance cybersecurity offerings with identity-driven solutions. This collaboration introduces a suite of SaaS-based cybersecurity services aimed at protecting both human and machine identities. Customers across multiple countries, including Brazil, Germany, Spain, the UK, and the USA, will now have access to the CyberArk Identity Security Platform. This strategic alliance addresses the increasing complexity of enterprise security in the post-pandemic world and offers a proactive approach to mitigating cyber risks.

CyberArk (NASDAQ: CYBR) recently announced a presentation at the Piper Sandler Global Technology Conference on September 13, 2021, at 9:30 a.m. EDT. This virtual event will feature insights into CyberArk's leadership in Identity Security and its comprehensive offerings in privileged access management. The presentation will be webcasted, with an archive available on CyberArk's investor relations website. CyberArk is recognized for securing critical assets across various environments, earning trust from leading organizations worldwide.

CyberArk (NASDAQ: CYBR) has been recognized as the Overall Privileged Access Management Leader for the sixth consecutive year in the KuppingerCole Analysts 2021 report. The company achieved top ratings across key categories such as Security, Functionality, Integration, Interoperability, and Usability. The report evaluated 26 vendors in the PAM market, highlighting CyberArk's commitment to enhancing its product suite in response to evolving market demands. CyberArk continues to facilitate a security-first approach for organizations, emphasizing Identity Security amidst growing digital transformation trends.

CyberArk (NASDAQ: CYBR) has been recognized as a Leader in The Forrester Wave™ report for Identity-As-A-Service (IDaaS) for Enterprise, Q3 2021. The company achieved the highest scores in critical categories, including product vision, innovation roadmap, user authentication, and compliance. CyberArk's Workforce Identity solution enhances security and operational efficiency for enterprises by providing secure access to applications for a distributed workforce. This recognition affirms CyberArk's strategy in identity security and its robust offering that meets the growing security challenges.

CyberArk (NASDAQ: CYBR) reported strong financial results for Q2 2021, showcasing a 10% revenue increase to $117.2 million year-over-year. Subscription revenue surged 101% to $27.1 million, driving a total ARR growth of 35% to $315 million. The company achieved a remarkable 128% growth in the subscription portion of ARR and a 65% subscription booking mix. CyberArk, recognized as a Leader in Gartner's Magic Quadrant for Privileged Access Management, is optimistic about its future, projecting Q3 revenues between $116 million and $124 million and a full-year revenue forecast of $484 million to $496 million.