- CyberArk Software Ltd CYBR reported first-quarter FY23 revenue growth of 27% year-on-year to $161.7 million, missing the consensus of $162.5 million.
- Non-GAAP EPS loss of $(0.17) beat the consensus loss of $(0.26).
- Segments: Revenues from Subscriptions expanded 78% Y/Y to $92.7 million. Maintenance and professional services were flat Y/Y at $65.1 million.
- Key Performance Indicators: Annual Recurring Revenue (ARR) increased 42% Y/Y to $604 million. The subscription portion of ARR was $403 million, implying an 84% Y/Y growth.
- The Maintenance portion of ARR was $202 million signifying a 2.9% Y/Y decline.
- Recurring revenue grew 37% Y/Y to $145.9 million. CyberArk reached a 95% subscription booking mix.
- CyberArk held $1.2 billion in cash and equivalents.
- Outlook: CyberArk sees Q2 revenue of $170 million - $175 million versus the consensus of $175.32 million.
- It sees non-GAAP EPS loss of $(0.19) - $(0.09) versus the consensus loss of $(0.12).
- CyberArk reiterated FY23 revenue of $724 million - $736 million versus the consensus of $730.17 million.
- CyberArk raised the non-GAAP EPS outlook to $0.16 - $0.38, up from $0.07 - $0.28 versus the consensus of $0.16.
- It also raised the FY23 ARR outlook to a range of $735 million to $745 million from $730 million to $740 million earlier.
- Price Action: CYBR shares traded lower by 1.72% at $135.01 in premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in