Categories Earnings, Technology

CyberArk (CYBR) Q3 revenue up 28%; stock climbs on earnings beat, strong outlook

CyberArk Software Ltd. (NASDAQ: CYBR) reported strong earnings and revenue growth for the third quarter, which also topped expectations. The company guided fourth-quarter revenue and earnings above the Street’s view, sending the stock higher early Wednesday.

Adjusted earnings climbed to $0.65 per share from $0.48 per share last year and came in above Wall Street’s prediction. On a reported basis, net income moved up to $15.2 million or $0.39 per share from $8.1 million or $0.22 per share in the third quarter of 2018.

Sales up 28%

The solid bottom-line performance reflects a 28% growth in revenues to $108.1 million, which also surpassed the estimates. Lifting the top-line, License revenue expanded by a quarter to $57.9 million, while Maintenance and Professional Services revenue climbed 30% to $50.2 million.

Also see: Microsoft Q1 profit jumps 21%

“Organizations around the world recognize that Privileged Access Management is critical to a successful security program and are leveraging CyberArk to secure access across on-premises, cloud, and hybrid environments as well as the DevOps pipeline,” said CEO Udi Mokady.

In the third quarter, CyberArk achieved adjusted operating margin of 27% and signed 200 new customers.


The management currently expects fourth-quarter revenues to be in the range of $125 million to $127 million, representing 15% to 16% year-over-year growth. Adjusted earnings are forecast to be between $0.78 per share and $0.82 per share and adjusted operating income in the $38.5-$40.0 million range.

For the whole of 2019, the company expects total revenue to be between $429.2 million and $431.2 million, up 25-26% annually. The forecast for full-year adjusted earnings is $2.58-$2.61 per share. Operating income, excluding special items, is forecast to be between $119.75 million and $121.25 million in 2019.

Also see: CyberArk Q2 2019 Earnings Call Transcript

CyberArk shares gained 46% since the beginning of 2019 and 38% since last year. However, it dropped steadily in recent weeks after reaching a peak in July.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues

Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5

Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights

Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the

Add Comment
Viewing Highlight