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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.
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CyberArk (CYBR) reported strong financial results for the fourth quarter and full year ended December 31, 2023. The company exceeded expectations across all guided metrics with a subscription portion of annual recurring revenue (ARR) of $582 million, growth of 60% year-over-year, and total ARR of $774 million, growth of 36% year-over-year. The subscription revenue for the full year 2023 was $472.0 million, growing 68% year-over-year, and the total revenue for the full year was $751.9 million, with growth accelerating to 27% year-over-year. CyberArk also achieved a net cash provided by operating activities of $56.2 million for the full year 2023. The company's financial performance for the fourth quarter and full year 2023 demonstrated strong growth and profitability, positioning it for continued success in 2024.
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CyberArk (CYBR) has appointed Eduarda Camacho as its new chief operating officer (COO), bringing over 25 years of global senior leadership experience at SaaS and enterprise software companies. Camacho will lead CyberArk’s go-to-market strategy and field execution, focusing on creating value through best-in-class customer experiences. Prior to joining CyberArk, she served as chief customer officer (CCO) and senior vice president of customer success at BMC Software, and executive vice president and CCO at PTC. CyberArk's CEO, Matt Cohen, highlighted the company's unprecedented opportunity to accelerate growth and solidify its identity security leadership position, emphasizing the importance of executing at scale while keeping the customer experience and security-first approach at the center of everything they do. Camacho expressed her excitement to join CyberArk, citing the company's reputation in the market, the strength of the innovative CyberArk Identity Security Platform, and its clearly defined mission to protect customers from cyberthreats.
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CyberArk (CYBR) to Report Q4 and Year End 2023 Financial Results on February 8, 2024
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CyberArk (NASDAQ: CYBR) named Overall Leader in KuppingerCole Analysts AG 2023 'Leadership Compass: Cloud Infrastructure Entitlement Management (CIEM)' report, highlighting CyberArk Identity Security Platform's strength and innovative cloud security solutions.
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CyberArk (CYBR) was named an Overall Leader in the KuppingerCole Analysts AG 2023 'Leadership Compass: Access Management' report. The company's CyberArk Identity offering received high praise across product, innovation, and market categories. The report highlighted the strength of the CyberArk Identity Security Platform in simplifying identity and access management while providing top-level security. CyberArk's focus on providing a comprehensive experience for different types of users, such as employees, customers, partners, and more, was also noted. The company's commitment to providing innovative security-first access management solutions to its customers and partners was emphasized. CyberArk's extension of passwordless authentication capabilities to include support for passkeys was also announced.
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CyberArk (CYBR) introduces passkeys for passwordless authentication, providing strong protection against identity theft and account takeover. The addition of passkeys reduces the attack surface and minimizes credential theft, offering phishing-resistant, FIDO2-compliant credentials. CyberArk Identity also supports YubiKey One Time Passcode (OTP) for secure authentication to any application protected by CyberArk Identity. CyberArk was named an Overall Leader in the KuppingerCole Analysts AG 'Leadership Compass: Passwordless Authentication' report.
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CyberArk (NASDAQ: CYBR) announced its participation in the Microsoft Security Copilot Partner Private Preview, showcasing its commitment to AI innovation and collaboration with Microsoft. The Security Copilot program aims to empower organizations to defend at machine speed and leverage AI to improve defensive strategies. CyberArk's involvement includes shaping Security Copilot product development, providing feedback on scenarios and APIs, and further integrating AI into the CyberArk Identity Security Platform.
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CyberArk (NASDAQ: CYBR) announced the appointment of Mary Yang, a seasoned technology executive with extensive experience in strategy, corporate development, and global M&A activity, to its board of directors. Yang's impressive background in cybersecurity, networking, and energy companies makes her a valuable addition to CyberArk's leadership. With this new appointment, current board member David Schaeffer will step down.
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CyberArk (NASDAQ: CYBR) announced its participation in two upcoming investor conferences, including the 4th Annual Needham Virtual Tech Week and the Wells Fargo 7th Annual TMT Summit. The presentations will be webcast live and archived on the company's investor relations website.
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Glasgow Caledonian University (GCU) has chosen CyberArk's Identity Security Platform to enhance its identity and access management programs. The platform will improve security for the university's 27,000 staff and students and protect against cyberattacks and credential theft. The CyberArk platform offers privileged access management, access management capabilities, and additional identity security features. It will enable GCU to implement adaptive multi-factor authentication, secure application passwords, prevent data exfiltration, and improve user risk management and compliance. CyberArk aims to help GCU construct a comprehensive identity security program.
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FAQ
What is the current stock price of CyberArk Software Ltd. (CYBR)?
The current stock price of CyberArk Software Ltd. (CYBR) is $329.15 as of November 21, 2024.
What is the market cap of CyberArk Software Ltd. (CYBR)?
The market cap of CyberArk Software Ltd. (CYBR) is approximately 14.3B.
What is CyberArk Software Ltd.?
CyberArk Software Ltd. is a leading cybersecurity company that protects privileged accounts, credentials, and secrets against targeted cyber threats.
What products does CyberArk offer?
CyberArk offers a range of security solutions including Privileged Access Manager, Vendor Privileged Access Manager, Privileged Session Manager, Enterprise Password Vault, PrivateArk, and Privilege Cloud.
Who uses CyberArk's solutions?
CyberArk’s solutions are trusted by the world's leading companies, including 40% of the Fortune 100, to protect their highest-value information assets, infrastructure, and applications.
How long has CyberArk been in the cybersecurity market?
CyberArk has been leading the market in securing enterprises against cyber attacks for over a decade.
Where does CyberArk generate most of its revenue?
CyberArk generates maximum revenue from the United States but also has a significant presence in Europe, the Middle East, Africa, and other regions.
What is CyberArk’s main focus in terms of cybersecurity?
CyberArk focuses on stopping cyber attacks that exploit insider privileges and target the heart of the enterprise.
Why are CyberArk’s solutions essential for enterprises?
CyberArk’s solutions are essential because they help prevent attack escalation and irreparable business harm, especially as regulators demand stronger protection for privileged accounts.
What recent achievements has CyberArk made?
CyberArk has recently expanded its product portfolio and formed strategic partnerships to enhance its cybersecurity offerings.
What industries benefit from CyberArk's cybersecurity solutions?
While CyberArk's solutions are used across various industries, they are particularly crucial for large enterprises and organizations with critical infrastructure and valuable information assets.
How does CyberArk stay ahead of cyber threats?
CyberArk stays ahead of threats by continuously innovating its security solutions to detect and prevent attacks before they can disrupt business operations.
CyberArk Software Ltd.
Nasdaq:CYBR
CYBR Rankings
CYBR Stock Data
14.32B
41.12M
0.03%
105.09%
3.18%
Software - Infrastructure
Technology
United States of America
Petah Tikva