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CyberArk Software Clocks 13% Revenue Growth In Q1, Misses Street View

By Anusuya Lahiri
  • CyberArk Software Ltd (NASDAQ:CYBRreported first-quarter FY22 revenue growth of 13% year-on-year to $127.6 million, missing the consensus of $130.3 million. Non-GAAP EPS loss of $(0.30) beat the consensus loss of $(0.31).
  • Segments: Revenues from Subscription expanded 110% Y/Y to $51.9 million. Maintenance and professional services rose 6.1% Y/Y to $65.1 million.
  • Key Performance Indicators: Annual Recurring Revenue (ARR) increased 48% Y/Y to $427 million. The subscription portion of ARR was $219 million, implying a 149% Y/Y growth. The Maintenance portion of ARR was $208 million signifying a 3.5% Y/Y growth.
  • Recurring revenue grew 40% Y/Y to $106.9 million, and the company added 250 new customers. CyberArk reached a 86% subscription booking mix.
  • CyberArk held $1.2 billion in cash and equivalents and generated $25 million in operating cash flow.
  • Chair and CEO Udi Mokady said, "Great execution, robust demand, and strong industry tailwinds resulted in subscription ARR reaching $219 million with growth accelerating to nearly 150 percent and total ARR reaching $427 million with growth accelerating to 48 percent year-over-year."
  • Outlook: CyberArk sees Q2 revenue of $135 million - $141 million versus the consensus of $136.97 million.
  • It sees non-GAAP EPS loss of $(0.37) - $(0.25) versus the consensus loss of $(0.27).
  • CyberArk raised the FY22 revenue guidance from $582 million - $598 million to $583.5 million - $598.5 million versus the consensus of $590.2 million. 
  • CyberArk raised the non-GAAP EPS loss guidance from $(0.98) - $(0.64) to $(0.92) - $(0.60) versus the consensus loss of $(0.75).
  • Price Action: CYBR shares traded lower by 2.17% at $105.00 in premarket on the last check Thursday.
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Dive Deeper:
Innoviz Shares Drop On Q1 Miss; Clocks 144% Revenue Growth
Innoviz Technologies Ltd (NASDAQ:INVZ) reported first-quarter FY22 revenue growth of 144% year-on-year to $1.77 million, missing the consensus of $2.17 million. EPS loss…
RADCOM Shares Gain On Q1 Beat, Guidance Boost
RADCOM Ltd (NASDAQ:RDCM) reported first-quarter FY22 revenue growth of 16% year-on-year to $10.6 million, ahead of the consensus of $10.2 million. The non-GAAP…
NICE Clocks 15.4% Revenue Growth In Q1 Backed Robust Demand; Boosts FY22 Guidance
NICE Ltd (NASDAQ:NICE) reported first-quarter FY22 non-GAAP revenue growth of 15.4% year on year to $527.4 million, beating the consensus of $510.8 million. …
Why Duolingo Shares Are Surging Today
Duolingo Inc (NASDAQ:DUOL) reported first-quarter FY22 sales growth of 47% year-on-year to $81.22 million, beating the consensus of $77.44 million. Total bookings increased…
One subscription that gives you access to news from hundreds of sites
Why IronSource Shares Are Falling Today
IronSource Ltd (NYSE:IS) reported first-quarter FY22 revenue growth of 58% year-on-year to $189.7 million, beating the consensus of $183.6 million. The non-GAAP gross…
Why Fiverr Shares Are Trading Lower Today
Fiverr International Ltd (NYSE:FVRR) reported first-quarter FY22 revenue growth of 27% year-on-year to $86.7 million, beating the consensus of $86.5 million. Active buyers…
Get all your news in one place