CyberArk Q4 Revenue Surges 41%, Subscription And Strong ARR Clock Strong Growth

CyberArk Software Ltd (NASDAQ: CYBR) reported fiscal fourth-quarter 2024 revenue growth of 41% year-on-year to $314.40 million, beating the analyst consensus estimate of $301.31 million. 

The cybersecurity company posted an adjusted EPS of $0.80, which beat the analyst consensus estimate of $0.72. The stock price gained after the report.

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Segments: Revenues from Subscriptions expanded 62% Y/Y to $243.0 million. Maintenance and professional services were $66.4 million versus $64.8 million Y/Y.

Key Performance Indicators: Annual Recurring Revenue (ARR) increased 51% Y/Y to $1.17 billion. The subscription portion of ARR was $977 million, implying a 68% year-over-year growth. 

The Maintenance portion of ARR was $192 million, flat Y/Y. Recurring revenue grew 45% Y/Y to $292.2 million. 

CyberArk held $841.1 million in cash and equivalents as of December 31, 2024.

CEO Matt Cohen noted that the company’s performance in the fourth quarter and the year reflects the strength of demand for its identity security solutions. Total ARR reached $1.169 billion, driven by organic ARR crossing $1 billion and the outperformance from Venafi. With its strong revenue growth and free cash flow margin, the company returned to Rule of 40 on a full-year basis, beating its long-term guidance framework by a full year.

Outlook: CyberArk expects fiscal first-quarter revenue of $301.0 million—$307.0 million, versus the consensus of $301.09 million.

It projected an adjusted EPS of $0.74-$0.81 versus the consensus of $0.77.

CyberArk expects fiscal 2025 revenue of $1.308 billion-$1.318 billion versus the consensus of $1.302 billion. The company expects an adjusted EPS outlook of $3.55-$3.70 versus the consensus of $3.65.

It expects an ARR of $1.410 billion—$1.420 billion as of December 31, 2025, up by 21%.

CyberArk Software stock surged 51% in the last 12 months, which is testimony to the growing importance of cybersecurity in the back of cyberattacks on companies.

Microsoft Corp MSFT President Brad Smith had sought tougher U.S. action against rising cyber threats from Russia, China, and Iran. White House convened telecom and security leaders to tackle cyber espionage attributed to Chinese hackers.

At least eleven Wall Street firms raised their price forecasts on CyberArk Software in 2025.

Price Action: CYBR stock is up 4.99% at $399.86 at the last check on Thursday.

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