CyberArk Software Ltd. - CYBR STOCK NEWS

CyberArk (NASDAQ: CYBR) announced that its Core Privileged Access Security has received the Cyber Catalyst designation from Marsh, recognizing its effectiveness in reducing cyber risk. This designation signifies that leading insurers view the solution as capable of addressing significant threats such as ransomware and unauthorized access. The evaluation highlighted CyberArk as a top solution for identity access management and compliance, affirming its role in current cybersecurity strategies.

CyberArk (NASDAQ: CYBR) will report its fourth quarter and year-end 2020 financial results before U.S. markets open on February 11, 2021. A conference call will be held on the same day at 8:30 AM ET to discuss these results and the company's business outlook. Investors can access the call by dialing designated numbers or via a live webcast on CyberArk's investor relations webpage. The company specializes in privileged access management, protecting vital data across cloud and hybrid environments for top organizations globally.

CyberArk (NASDAQ: CYBR) has launched a free assessment offer for SolarWinds Orion customers to identify risks related to privileged access following a significant cyberattack. The attack impacted over 18,000 organizations, utilizing compromised privileged credentials. The offered services include a Privileged Access Management (PAM) Rapid Risk Assessment and PAM Rapid Risk Remediation, aimed at strengthening security measures and mitigating future threats. CyberArk emphasizes the need for comprehensive Identity Security to prevent similar attacks.

CyberArk (NASDAQ: CYBR) released a study indicating that most remote workers feel more productive at home and wish to continue this work style post-pandemic. Despite these preferences, poor security practices present significant risks for businesses considering remote work's long-term viability. Key findings include: 78% of employees faced tech issues, 67% circumvent security policies, and 82% reused passwords. The survey highlights a growing need for organizations to reinforce security measures as 54% of respondents received remote-work security training.

CyberArk (NASDAQ: CYBR) has announced its participation in two upcoming virtual conferences. The UBS Global TMT Virtual Conference will take place on December 7, 2020, at 8:25 a.m. EST, followed by the Barclays Global Technology, Media and Telecommunications Conference on December 9, 2020, at 8:00 a.m. EST. Both presentations will be available as webcasts, with an archive accessible on the company's investor relations website.

CyberArk is a leader in privileged access management, ensuring critical IT security across various environments.

CyberArk (NASDAQ: CYBR) partners with Forescout and Phosphorus to enhance security for IoT devices amid a digital transformation surge. This collaboration aims to reduce risks associated with the growing number of connected devices, projected to reach 25.4 billion by 2030. The integration enables continuous discovery and management of IoT assets, mitigating vulnerabilities through automated credential management and security compliance. By facilitating better operational efficiencies, CyberArk’s solution is designed to protect critical data and assets, addressing the increasing security challenges posed by interconnected devices.

CyberArk (NASDAQ: CYBR) has been recognized as a Leader in "The Forrester Wave™: Privileged Identity Management, Q4 2020." The company achieved the highest score in the current offering category and excelled in 16 critical criteria. This recognition underscores CyberArk's capability to innovate while addressing complex customer environments, particularly in DevOps and cloud sectors. Notably, CyberArk’s solutions facilitate effective credential management and robust threat monitoring, emphasizing enhanced security across various systems and strong performance metrics validated by large clients.

CyberArk (NASDAQ: CYBR) announced its participation in the Needham Virtual Security, Networking, and Communications Conference on November 17, 2020, at 9:30 a.m. ET. The event will be webcasted, and an archived version will be available on the company’s investor relations website for a limited time. CyberArk, recognized as a global leader in privileged access management, helps organizations protect their data across cloud and hybrid environments, leveraging the most complete solution against external threats and insider risks.

CyberArk (NASDAQ: CYBR) reported strong financial results for Q3 2020, with total revenue of $106.6 million, a 40% increase in Annual Recurring Revenue (ARR) to $250 million, and SaaS bookings setting records. Notably, SaaS and subscription revenue surged nearly 200% year-over-year, now representing 28% of total license revenue. Despite a GAAP operating loss of $(10.5) million and a GAAP net loss of $(15.9) million, the company is transitioning to a recurring revenue model. CyberArk maintains $1.1 billion in cash, reflecting solid financial health.