- CyberArk Software Ltd CYBR reported second-quarter FY22 revenue growth of 21% year-on-year to $142.3 million, beating the consensus of $138.5 million. Non-GAAP EPS loss of $(0.27) beat the consensus loss of $(0.30).
- Segments: Revenues from Subscription expanded 144% Y/Y to $66 million. Maintenance and professional services rose 3.9% Y/Y to $65.3 million.
- Key Performance Indicators: Annual Recurring Revenue (ARR) increased 48% Y/Y to $465 million. The subscription portion of ARR was $255 million, implying a 133% Y/Y growth. The Maintenance portion of ARR was $210 million signifying a 1.9% Y/Y growth.
- Recurring revenue grew 49% Y/Y to $120.4 million, and the company added 250 new customers. CyberArk reached a 88% subscription booking mix.
- CyberArk held $1.2 billion in cash and equivalents.
- Outlook: CyberArk sees Q3 revenue of $147 million - $153 million versus the consensus of $148.3 million.
- It sees non-GAAP EPS loss of $(0.27) - $(0.14) versus the consensus loss of $(0.22).
- CyberArk raised the FY22 revenue guidance from $583.5 million - $598.5 million to $589.0 million to $601.0 million versus the consensus of $591.7 million.
- CyberArk narrowed the non-GAAP EPS loss guidance from $(0.92) - $(0.60) to $(0.82) - $(0.57) versus the consensus loss of $(0.73).
- Price Action: CYBR shares traded higher by 5.45% at $145.99 in premarket on the last check Wednesday.
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