CyberArk’s impressive financial performance for the fourth quarter and full year ended December 31, 2024 underscores the company’s dominant position in identity security and its commitment to innovation and strategic growth. The results, highlighted by record quarterly revenue of $314.4 million—up 41 percent year-over-year—and subscription revenue soaring to $243.0 million, reflect the robust demand for CyberArk’s cutting-edge solutions and the successful integration of strategic acquisitions such as Venafi. CEO Matt Cohen described 2024 as a milestone year, emphasizing that the company achieved a significant record in annual recurring revenue (ARR) reaching $1.169 billion, driven by organic ARR crossing the $1 billion threshold and bolstered by the performance uplift from Venafi. Despite the GAAP operating losses reported, non-GAAP results present a more promising picture with an operating income of $58.7 million in the fourth quarter and $150.9 million for the full year. These figures, alongside a solid balance sheet with $841.1 million in cash and equivalents and a remarkable net cash provided by operating activities of $231.9 million, highlight CyberArk’s strong financial discipline amid strategic investments that include settling $535 million of outstanding convertible notes. The company’s financial narrative is enriched by innovations such as new integrations with SentinelOne’s Singularity™ Endpoint solution and Microsoft Defender for Identity, as well as the launch of FuzzyAI—a breakthrough tool designed to safeguard against AI model jailbreaks—demonstrating its commitment to evolving with the market’s demands.
The forward-looking guidance for 2025 positions CyberArk to build on its robust momentum, with expectations for first quarter revenue to range between $301.0 million and $307.0 million and full-year revenue projected between $1.308 billion and $1.318 billion, reflecting substantial growth compared to previous periods. With non-GAAP operating income and net income per share targets that underline the company’s disciplined operational strategy, the anticipated ARR by the end of 2025 is expected to reach up to $1.420 billion, further cementing CyberArk’s role as a market leader. The recent acquisition of Zilla Security, which brings innovative, AI-powered identity governance and administration capabilities into CyberArk’s portfolio, is set to expand its industry-leading platform with scalable automation that enhances identity compliance and operational efficiency. This strategic move, combined with CyberArk’s focus on integrating and innovating its persona-based solutions, strengthens the company’s ability to secure every identity—both human and machine—with the right level of privilege controls. With a keen eye on the evolving digital landscape and a clear strategy for sustainable growth, CyberArk is poised to continue its trajectory as a formidable force in identity security, consistently pushing the boundaries of innovation and operational excellence.
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