GAAP net income improved to $13.7 million, or $0.36 per
share, from $6.4 million, or $0.18 per share, in the prior-year quarter. Adjusted
net income was $21.5 million or $0.56 per share.
CEO Udi Mokady said, “Our results demonstrate that
Privileged Access Security is the foundation of comprehensive cybersecurity
programs. As the leader in the market, organizations of all sizes and
industries are turning to CyberArk as a trusted advisor to secure digital
transformation and cloud migration strategies. As we look at the remainder of
2019 and beyond, we are committed to delivering sustainable growth, strong
profitability and continual innovation to secure privileged access across
on-premises, hybrid and cloud environments.”
Total deferred revenue amounted to $171.1 million as
of March 31, 2019, up 43% from the same period a year ago. At quarter-end,
CyberArk had $509.7 million in cash, cash equivalents, marketable securities
and short-term deposits.
For the second quarter of 2019, CyberArk expects revenues to grow 24-26% year-over-year to a range of $96 million to $98 million. Adjusted EPS is expected to be $0.45-0.48.
For the full year of 2019, the company anticipates revenue growth of 21-22% to a range between $415 million and $419 million. Adjusted EPS is expected to be $2.10 to $2.16.
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