Why Are CyberArk Software Shares Popping Today?

Headquarter of information security company CyberArk in Newton, Mass., in July 2019. (Google Maps/Screenshot via The Epoch Times)

CyberArk Software Ltd. reported fourth-quarter FY21 revenue growth of 5 percent year-on-year to $151.3 million, beating the consensus of $144.5 million. Non-GAAP EPS of $0.28 beat the consensus of $0.16.

Segments

Revenues from Subscription expanded 142 percent Y/Y to $47.6 million, Maintenance and professional services rose 6 percent Y/Y to $65.1 million.

Key Performance Indicators

Annual Recurring Revenue (ARR) increased 44 percent Y/Y to $393 million. The subscription portion of ARR was $183 million, implying a 146 percent Y/Y growth. The Maintenance portion of ARR was $210 million signifying a 5.5 percent Y/Y growth.

Recurring revenue grew 48 percent Y/Y to $102.9 million, and the company added over 375 new customers. CyberArk reached a 71 percent subscription booking mix.

CyberArk held $1.2 billion in cash and equivalents and generated $20.4 million in operating cash flow.

Cybersecurity stocks have been on fire since Microsoft Inc. showed interest in acquiring Mandiant Inc..

Outlook

CyberArk sees Q1 FY22 revenue of $125 million–$133 million against the consensus of $128.4 million.

It sees non-GAAP EPS loss of $0.42–$0.25 below the analyst consensus loss of $0.09.

CyberArk sees FY22 revenue of $582 million–$598 million above the consensus of $562.3 million and sees non-GAAP EPS loss of $0.98–$0.64, below the consensus loss of $0.12.

By Anusuya Lahiri

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