CyberArk Software Clocks 12% Revenue Growth In Q4; COO Matthew Cohen To Succeed Udi Mokady As CEO

CyberArk Software Ltd CYBR reported fourth-quarter FY22 revenue growth of 12% year-on-year to $169.2 million, missing the consensus of $174.1 million.
Non-GAAP EPS of $0.16 beat the consensus of $0.12.
Segments: Revenues from Subscriptions expanded 86% Y/Y to $88.5 million. Maintenance and professional services rose 1.5% Y/Y to $66.1 million.
Key Performance Indicators: Annual Recurring Revenue (ARR) increased 45% Y/Y to $570 million. The subscription portion of ARR was $364 million, implying a 99% Y/Y growth.
The Maintenance portion of ARR was $206 million signifying a 1.9% Y/Y decline.
Recurring revenue grew 39% Y/Y to $142.6 million, and the company added more than 380 new customers. CyberArk reached a 90% subscription booking mix.
CyberArk held $926.4 million in cash and equivalents.
CEO Transition: Founder, Chair, and CEO Udi Mokady became the Executive Chair of the Board effective April 3. Current COO Matthew Cohen will become the CEO and join the board of directors.
Outlook: CyberArk sees Q1 revenue of $160 million - $164 million versus the consensus of $163.82 million.
It sees non-GAAP EPS loss of $(0.30) - $(0.23) below the consensus loss of $(0.11).
CyberArk sees FY23 revenue of $724 million - $736 million versus the consensus of $725.76 million.
CyberArk saw non-GAAP EPS of $0.07 - $0.28 above the consensus of $0.02.
Price Action: CYBR shares traded higher by 4.54% at $156.00 in premarket on the last check Thursday.

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