CyberArk Shares Pop On Q2 Beat Aided By ARR Growth; Boosts FY22 Outlook

  • CyberArk Software Ltd CYBR reported second-quarter FY22 revenue growth of 21% year-on-year to $142.3 million, beating the consensus of $138.5 million. Non-GAAP EPS loss of $(0.27) beat the consensus loss of $(0.30).
  • Segments: Revenues from Subscription expanded 144% Y/Y to $66 million. Maintenance and professional services rose 3.9% Y/Y to $65.3 million.
  • Key Performance Indicators: Annual Recurring Revenue (ARR) increased 48% Y/Y to $465 million. The subscription portion of ARR was $255 million, implying a 133% Y/Y growth. The Maintenance portion of ARR was $210 million signifying a 1.9% Y/Y growth.
  • Recurring revenue grew 49% Y/Y to $120.4 million, and the company added 250 new customers. CyberArk reached a 88% subscription booking mix.
  • CyberArk held $1.2 billion in cash and equivalents.
  • Outlook: CyberArk sees Q3 revenue of $147 million - $153 million versus the consensus of $148.3 million.
  • It sees non-GAAP EPS loss of $(0.27) - $(0.14) versus the consensus loss of $(0.22).
  • CyberArk raised the FY22 revenue guidance from $583.5 million - $598.5 million to $589.0 million to $601.0 million versus the consensus of $591.7 million. 
  • CyberArk narrowed the non-GAAP EPS loss guidance from $(0.92) - $(0.60) to $(0.82) - $(0.57) versus the consensus loss of $(0.73).
  • Price Action: CYBR shares traded higher by 5.45% at $145.99 in premarket on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTechTrading IdeasBriefspremarket tradingwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!