Company Exceeds Expectations Across all Guided
Metrics Subscription Portion of Annual Recurring Revenue (ARR) of
$504 million; Growth of 68% Year-over-Year Total ARR of $705
million; Growth of 38% Year-over-Year Subscription Revenue of
$122.9 million in Q3; Growth of 65% Year-Over-Year Record Total
Revenue of $191.2 million in Q3 Exceeds Guidance; Growth
Accelerating to 25% Year-Over-Year Company Significantly Raises
Full Year ARR Guidance to a Range of $758 million to $768 million
from $743 million to $753 million
CyberArk (NASDAQ: CYBR), the identity security company, today
announced strong financial results for the third quarter ended
September 30, 2023.
“Strong execution and robust industry tailwinds drove our
outperformance in the third quarter and our results significantly
exceeded expectations across all guided metrics,” said Matt Cohen,
CyberArk's Chief Executive Officer. “We delivered one of the best
financial performances in the company’s history in the third
quarter and our business accelerated. Our identity security
platform is gaining momentum in both our customer base and with new
customers who recognize the critical requirement to secure all
identities, human and machine, with intelligent privileged
controls. The durable demand for our solutions is the result of the
severe threat landscape paired with the exponential growth of
identities and environments. We delivered robust net new ARR, 68
percent growth in Subscription ARR to $504 million and 38 percent
growth in total ARR to $705 million. Our consistent execution,
strong competitive position and confidence in the demand
environment is best demonstrated by the significant increase in our
full year ARR guidance. As the clear leader in identity security,
we have a tremendous opportunity in front of us and are well
positioned to deliver strong long-term growth, profitability and
cash flow.”
Financial Summary for the Third Quarter Ended September 30,
2023
- Subscription revenue was $122.9 million in the third quarter of
2023, an increase of 65 percent from $74.2 million in the third
quarter of 2022.
- Maintenance and professional services revenue was $64.3 million
in the third quarter of 2023, compared to $64.6 million in the
third quarter of 2022.
- Perpetual license revenue was $4.1 million in the third quarter
of 2023, compared to $13.8 million in the third quarter of
2022.
- Total revenue was $191.2 million in the third quarter of 2023,
up 25 percent from $152.7 million in the third quarter of 2022,
outperforming guidance.
- GAAP operating loss was $(25.7) million and non-GAAP operating
income was $16.9 million in the third quarter of 2023,
outperforming guidance.
- GAAP net loss was $(14.6) million, or $(0.35) per basic and
diluted share, in the third quarter of 2023. Non-GAAP net income
was $19.6 million, or $0.42 per diluted share, in the third quarter
of 2023, outperforming guidance.
Balance Sheet and Net Cash Provided by Operating
Activities
- As of September 30, 2023, CyberArk had $1.2 billion in cash,
cash equivalents, marketable securities, and short-term
deposits.
- During the nine months ended September 30, 2023, the Company’s
net cash provided by operating activities was $9.3 million.
- As of September 30, 2023, total deferred revenue was $423.1
million, a 12 percent increase from $376.1 million at September 30,
2022.
Key Business Highlights
- Annual Recurring Revenue (ARR) was $705 million, an increase of
38 percent from $512 million at September 30, 2022.
- The Subscription portion of ARR was $504 million, or 72 percent
of total ARR at September 30, 2023. This represents an increase of
68 percent from $301 million, or 59 percent of total ARR, at
September 30, 2022.
- The Maintenance portion of ARR was $200 million at September
30, 2023, compared to $211 million at September 30, 2022.
- Recurring revenue in the third quarter was $174.4 million, an
increase of 36 percent from $128.5 million for the third quarter of
2022.
Recent Developments
- CyberArk was named a Leader in 2023 Gartner Magic Quadrant for
Privileged Access Management.(1) CyberArk is recognized in this
report for the fifth consecutive time.
- CyberArk launched Artificial Intelligence Center of Excellence
to combat attacker innovation with identity security
innovation.
- CyberArk was named a Leader in The Forrester Wave™: Privileged
Identity Management, Q4 2023,(2) receiving the top score in the
‘Current Offering’ category as well as the highest possible score
in 16 criteria including: least privilege access, just-in-time
access, development and DevOps support, threat detection and
response, innovation and partner ecosystem.
Business Outlook
Based on information available as of November 2, 2023, CyberArk
is issuing guidance for the fourth quarter and full year 2023 as
indicated below.
Fourth Quarter 2023:
- Total revenue is expected to be in the range of $206.5 million
and $211.5 million, representing growth of 22 percent to 25 percent
compared to the fourth quarter of 2022.
- Non-GAAP operating income is expected to be in the range of
$19.0 million to $23.0 million.
- Non-GAAP net income per share is expected to be in the range of
$0.41 to $0.50 per diluted share.
- Assumes 47.1 million weighted average diluted shares.
Full Year 2023:
- Total revenue is expected to be in the range of $735.3 million
to $740.3 million, representing growth of 24 percent to 25 percent
compared to the full year 2022.
- Non-GAAP operating income is expected to be in the range of
$17.7 million to $21.7 million.
- Non-GAAP net income per share is expected to be in the range of
$0.72 to $0.80 per diluted share.
- Assumes 46.5 million weighted average diluted shares.
- ARR as of December 31, 2023 is expected to be in the range of
$758 million to $768 million, representing growth of 33 percent to
35 percent from December 31, 2022.
(1)
Gartner® Magic Quadrant™ for Privileged Access Management, by Felix
Gaehtgens, James Hoover, Michael Kelley, Brian Guthrie, Abhyuday
Data, 5 September 2023
(2)
The Forrester Wave™: Privileged Identity Management, Q4 2023 by
Geoff Cairns, October 11, 2023
Conference Call Information
In conjunction with this announcement, CyberArk will host a
conference call on Thursday, November 2, 2023 at 8:30 a.m. Eastern
Time (ET) to discuss the Company’s third quarter financial results
and its business outlook. To access this call, dial +1 (888)
330-2455 (U.S.) or +1 (240) 789-2717 (international). The
conference ID is 6515982. Additionally, a live webcast of the
conference call will be available via the “Investor Relations”
section of the company’s website at www.cyberark.com.
Following the conference call, a replay will be available for
one week at +1 (800) 770-2030 (U.S.) or +1 (647) 362-9199
(international). The replay pass code is 6515982. An archived
webcast of the conference call will also be available in the
“Investor Relations” section of the company’s website at
www.cyberark.com.
About CyberArk
CyberArk (NASDAQ: CYBR) is the global leader in identity
security. Centered on intelligent privilege controls, CyberArk
provides the most comprehensive security offering for any identity
– human or machine – across business applications, distributed
workforces, hybrid cloud environments and throughout the DevOps
lifecycle. The world’s leading organizations trust CyberArk to help
secure their most critical assets. To learn more about CyberArk,
visit https://www.cyberark.com, read the CyberArk blogs or follow
on LinkedIn, Twitter, Facebook or YouTube.
Copyright © 2023 CyberArk Software. All Rights Reserved. All
other brand names, product names, or trademarks belong to their
respective holders.
Key Performance Indicators and Non-GAAP Financial
Measures
Annual Recurring Revenue (ARR)
- Annual Recurring Revenue (ARR) is defined as the annualized
value of active SaaS, self-hosted subscription and maintenance
contracts related to perpetual licenses in effect at the end of the
reported period.
Subscription Portion of Annual Recurring Revenue
- Subscription portion of ARR is defined as the annualized value
of active SaaS and self-hosted subscription contracts in effect at
the end of the reported period. The subscription portion of ARR
excludes maintenance contracts related to perpetual licenses.
Maintenance Portion of Annual Recurring Revenue
- Maintenance portion of ARR is defined as the annualized value
of active maintenance contracts related to perpetual licenses. The
Maintenance portion of ARR excludes SaaS and self-hosted
subscription contracts in effect at the end of the reported
period.
Recurring Revenue
- Recurring Revenue is defined as revenue derived from SaaS and
self-hosted subscription contracts, and maintenance contracts
related to perpetual licenses during the reported period.
Non-GAAP Financial Measures
CyberArk believes that the use of non-GAAP gross profit,
non-GAAP operating expense, non-GAAP operating income (loss),
non-GAAP net income (loss) and free cash flow is helpful to our
investors. These financial measures are not measures of the
Company’s financial performance under U.S. GAAP and should not be
considered as alternatives to gross profit, operating loss, net
loss or net cash provided by operating activities or any other
performance measures derived in accordance with GAAP.
- Non-GAAP gross profit is calculated as GAAP gross profit
excluding share-based compensation expense, amortization of
intangible assets related to acquisitions, and impairment of
capitalized software development costs.
- Non-GAAP operating expense is calculated as GAAP operating
expenses excluding share-based compensation expense, acquisition
related expenses and amortization of intangible assets related to
acquisitions.
- Non-GAAP operating income (loss) is calculated as GAAP
operating loss excluding share-based compensation expense,
impairment of capitalized software development costs, acquisition
related expenses and amortization of intangible assets related to
acquisitions.
- Non-GAAP net income (loss) is calculated as GAAP net loss
excluding share-based compensation expense, acquisition related
expenses, amortization of intangible assets related to
acquisitions, impairment of capitalized software development costs,
amortization of debt discount and issuance costs, gain from
investment in privately held companies, and the tax effect of
non-GAAP adjustments.
- Free cash flow is calculated as net cash provided by operating
activities less purchase of property and equipment.
The Company believes that providing non-GAAP financial measures
that are adjusted by, as applicable, share-based compensation
expense, acquisition related expenses, amortization of intangible
assets related to acquisitions, impairment of capitalized software
development costs, non-cash interest expense related to the
amortization of debt discount and issuance cost, gain from
investment in privately held companies, and the tax effect of the
non-GAAP adjustments and purchase of property and equipment allows
for more meaningful comparisons of its period to period operating
results. Share-based compensation expense has been, and will
continue to be for the foreseeable future, a significant recurring
expense in the Company’s business and an important part of the
compensation provided to its employees. Share based compensation
expense has varying available valuation methodologies, subjective
assumptions and a variety of equity instruments that can impact a
company’s non-cash expense. The Company believes that expenses
related to its acquisitions, amortization of intangible assets
related to acquisitions, and non-cash interest expense related to
the amortization of debt discount and issuance costs do not reflect
the performance of its core business and impact period-to-period
comparability. The Company believes free cash flow is a liquidity
measure that, after the purchase of property and equipment,
provides useful information about the amount of cash generated by
the business.
Non-GAAP financial measures may not provide information that is
directly comparable to that provided by other companies in the
Company’s industry, as other companies in the industry may
calculate non-GAAP financial results differently, particularly
related to non-recurring, unusual items. In addition, there are
limitations in using non-GAAP financial measures as they exclude
expenses that may have a material impact on the Company’s reported
financial results. The presentation of non-GAAP financial
information is not meant to be considered in isolation or as a
substitute for the directly comparable financial measures prepared
in accordance with U.S. GAAP. CyberArk urges investors to review
the reconciliation of its non-GAAP financial measures to the
comparable U.S. GAAP financial measures included below, and not to
rely on any single financial measure to evaluate its business.
Guidance for non-GAAP financial measures excludes, as
applicable, share-based compensation expense, acquisition related
expenses, amortization of intangible assets related to
acquisitions, non-cash interest expense related to the amortization
of debt discount and issuance costs and the tax effect of the
non-GAAP adjustments. A reconciliation of the non-GAAP financial
measures guidance to the corresponding GAAP measures is not
available on a forward-looking basis due to the uncertainty
regarding, and the potential variability and significance of, the
amounts of share-based compensation expense, amortization of
intangible assets related to acquisitions, and the non-recurring
expenses that are excluded from the guidance. Accordingly, a
reconciliation of the non-GAAP financial measures guidance to the
corresponding GAAP measures for future periods is not available
without unreasonable effort.
Cautionary Language Concerning Forward-Looking
Statements
This release contains forward-looking statements, which express
the current beliefs and expectations of CyberArk’s (the “Company”)
management. In some cases, forward-looking statements may be
identified by terminology such as “believe,” “may,” “estimate,”
“continue,” “anticipate,” “intend,” “should,” “plan,” “expect,”
“predict,” “potential” or the negative of these terms or other
similar expressions. Such statements involve a number of known and
unknown risks and uncertainties that could cause the Company’s
future results, levels of activity, performance or achievements to
differ materially from the results, levels of activity, performance
or achievements expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to
such differences include risks relating to: changes to the drivers
of the Company’s growth and its ability to adapt its solutions to
IT security market demands; fluctuation in the Company’s quarterly
results of operations due to sales cycles and multiple pricing and
delivery models; the Company’s ability to sell into existing and
new customers and industry verticals; an increase in competition
within the Privileged Access Management and Identity Security
markets; unanticipated product vulnerabilities or cybersecurity
breaches of the Company’s, or the Company’s customers’ or partners’
systems; complications or risks in connection with the Company’s
subscription model, including uncertainty regarding renewals from
its existing customer base, and retaining sufficient subscription
or maintenance and support service renewal rates; risks related to
compliance with privacy and data protection laws and regulations;
risks regarding potential negative economic conditions in the
global economy or certain regions, including conditions resulting
from financial and credit market fluctuations, rising interest
rates, bank failures, inflation, and the potential for regional or
global recessions; the Company’s ability to hire, train, retain and
motivate qualified personnel; reliance on third-party cloud
providers for the Company’s operations and SaaS solutions; the
Company’s history of incurring net losses and its ability to
achieve profitability in the future; risks related to the Company’s
ongoing transition to a new Chief Executive Officer; risks related
to sales made to government entities; the Company’s ability to
find, complete, fully integrate or achieve the expected benefits of
strategic acquisitions; the duration and scope of the COVID-19
pandemic and its resulting effect on the demand for the Company’s
solutions and on its expected revenue growth rates and costs; the
Company’s ability to expand its sales and marketing efforts and
expand its channel partnerships across existing and new
geographies; regulatory and geopolitical risks associated with
global sales and operations, as well as the location of our
principal executive offices, most of our research and development
activities and other significant operations in Israel; changes in
regulatory requirements or fluctuations in currency exchange rates;
the ability of the Company’s products to help customers achieve and
maintain compliance with government regulations or industry
standards; risks related to intellectual property claims or the
Company’s ability to protect its proprietary technology and
intellectual property rights; and other factors discussed under the
heading “Risk Factors” in the Company’s most recent annual report
on Form 20-F filed with the Securities and Exchange Commission.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions contained in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made only as of the date hereof, and the Company undertakes no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
Gartner Disclaimers
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and Magic Quadrant and Peer Insights are a registered trademark, of
Gartner, Inc. and/or its affiliates in the U.S. and internationally
and are used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service
depicted in its research publications, and does not advise
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Gartner Peer Insights content consists of the opinions of
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merchantability or fitness for a particular purpose.
CYBERARK SOFTWARE LTD. Consolidated Statements of
Operations U.S. dollars in thousands (except per share
data) (Unaudited) Three Months Ended
Nine Months Ended September 30, September 30,
2022
2023
2022
2023
Revenues: Subscription
$
74,249
$
122,879
$
192,198
$
321,766
Perpetual license
13,790
4,056
35,385
13,028
Maintenance and professional services
64,631
64,301
194,976
193,990
Total revenues
152,670
191,236
422,559
528,784
Cost of revenues: Subscription
12,214
21,281
32,487
54,859
Perpetual license
703
642
1,980
1,173
Maintenance and professional services
19,548
19,816
56,751
60,446
Total cost of revenues
32,465
41,739
91,218
116,478
Gross profit
120,205
149,497
331,341
412,306
Operating expenses: Research and development
48,437
51,733
138,844
157,653
Sales and marketing
90,298
98,859
254,536
299,376
General and administrative
20,738
24,642
60,342
67,038
Total operating expenses
159,473
175,234
453,722
524,067
Operating loss
(39,268
)
(25,737
)
(122,381
)
(111,761
)
Financial income, net
3,641
12,424
6,269
33,912
Loss before taxes on income
(35,627
)
(13,313
)
(116,112
)
(77,849
)
Tax benefit (taxes on income)
2,902
(1,296
)
7,948
2,434
Net loss
$
(32,725
)
$
(14,609
)
$
(108,164
)
$
(75,415
)
Basic loss per ordinary share
$
(0.80
)
$
(0.35
)
$
(2.67
)
$
(1.82
)
Diluted loss per ordinary share
$
(0.80
)
$
(0.35
)
$
(2.67
)
$
(1.82
)
Shares used in computing net loss per ordinary shares, basic
40,834,640
41,899,371
40,488,909
41,539,052
Shares used in computing net loss per ordinary shares, diluted
40,834,640
41,899,371
40,488,909
41,539,052
CYBERARK SOFTWARE LTD.
Consolidated Balance
Sheets
U.S. dollars in
thousands
(Unaudited)
December 31, September 30,
2022
2023
ASSETS CURRENT ASSETS: Cash and cash
equivalents
$
347,338
$
372,196
Short-term bank deposits
305,843
284,461
Marketable securities
301,101
249,539
Trade receivables
120,817
118,983
Prepaid expenses and other current assets
22,482
26,308
Total current assets
1,097,581
1,051,487
LONG-TERM ASSETS: Marketable securities
227,748
322,026
Property and equipment, net
23,474
17,814
Intangible assets, net
27,508
22,050
Goodwill
153,241
153,241
Other long-term assets
217,040
213,243
Deferred tax asset
72,809
85,005
Total long-term assets
721,820
813,379
TOTAL ASSETS
$
1,819,401
$
1,864,866
LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT
LIABILITIES: Trade payables
$
13,642
$
12,624
Employees and payroll accruals
77,328
70,750
Accrued expenses and other current liabilities
33,584
33,022
Deferred revenues
327,918
357,282
Total current liabilities
452,472
473,678
LONG-TERM LIABILITIES: Convertible senior notes, net
569,344
571,590
Deferred revenues
80,524
65,773
Other long-term liabilities
38,917
33,376
Total long-term liabilities
688,785
670,739
TOTAL LIABILITIES
1,141,257
1,144,417
SHAREHOLDERS' EQUITY: Ordinary shares of NIS 0.01 par value
107
110
Additional paid-in capital
660,289
774,882
Accumulated other comprehensive income (loss)
(15,560
)
(12,436
)
Retained earnings (accumulated deficit)
33,308
(42,107
)
Total shareholders' equity
678,144
720,449
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
1,819,401
$
1,864,866
CYBERARK SOFTWARE LTD.
Consolidated Statements of
Cash Flows
U.S. dollars in
thousands
(Unaudited)
Nine Months Ended September 30,
2022
2023
Cash flows from operating activities: Net loss
$
(108,164
)
$
(75,415
)
Adjustments to reconcile net loss to net cash provided by operating
activities: Depreciation and amortization
11,883
15,097
Amortization of premium and accretion of discount on marketable
securities, net
3,976
(2,724
)
Share-based compensation
88,593
102,565
Deferred income taxes, net
(14,267
)
(10,763
)
Decrease in trade receivables
23,865
1,834
Amortization of debt discount and issuance costs
2,234
2,245
Increase in prepaid expenses, other current and long-term assets
and others
(19,769
)
(22,564
)
Changes in operating lease right-of-use assets
2,781
5,495
Increase (decrease) in trade payables
509
(980
)
Increase in short-term and long-term deferred revenues
58,814
14,613
Decrease in employees and payroll accruals
(16,285
)
(13,579
)
Increase in accrued expenses and other current and long-term
liabilities
2,259
669
Changes in operating lease liabilities
(7,218
)
(7,187
)
Net cash provided by operating activities
29,211
9,306
Cash flows from investing activities: Investment in
short and long term deposits
(320,320
)
(204,461
)
Proceeds from short and long term deposits
363,905
243,630
Investment in marketable securities and other
(318,566
)
(322,049
)
Proceeds from sales and maturities of marketable securities and
other
256,899
285,445
Purchase of property and equipment
(8,778
)
(4,253
)
Payments for business acquisitions, net of cash acquired
(41,285
)
-
Net cash used in investing activities
(68,145
)
(1,688
)
Cash flows from financing activities: Proceeds from
(payment of) withholding tax related to employee stock plans
(811
)
3,210
Proceeds from exercise of stock options
1,729
4,209
Proceeds in connection with employees stock purchase plan
12,322
11,776
Payments of contingent consideration related to acquisitions
(1,578
)
-
Net cash provided by financing activities
11,662
19,195
Increase (decrease) in cash, cash equivalents
(27,272
)
26,813
Effect of exchange rate differences on cash, cash
equivalents
(5,045
)
(1,955
)
Cash and cash equivalents at the beginning of the period
356,850
347,338
Cash and cash equivalents at the end of the period
$
324,533
$
372,196
CYBERARK SOFTWARE LTD. Reconciliation of GAAP
Measures to Non-GAAP Measures U.S. dollars in thousands
(except per share data) (Unaudited) Reconciliation of
Net cash provided by operating activities to Free cash flow:
Three Months Ended Nine Months Ended
September 30, September 30,
2022
2023
2022
2023
Net cash provided by operating activities
$
18,481
$
14,353
$
29,211
$
9,306
Less: Purchase of property and equipment
(4,618
)
(731
)
(8,778
)
(4,253
)
Free cash flow
$
13,863
$
13,622
$
20,433
$
5,053
GAAP net cash used in investing activities
(72,380
)
(42,788
)
(68,145
)
(1,688
)
GAAP net cash provided by (used in) financing activities
(1,602
)
5,510
11,662
19,195
Reconciliation of Gross Profit to Non-GAAP Gross Profit:
Three Months Ended Nine Months Ended September
30, September 30,
2022
2023
2022
2023
Gross profit
$
120,205
$
149,497
$
331,341
$
412,306
Plus: Share-based compensation (1)
4,030
4,780
10,962
13,112
Amortization of share-based compensation capitalized in software
development costs (3)
88
103
264
309
Amortization of intangible assets (2)
1,639
1,704
4,339
5,113
Impairment of capitalized software development costs
-
2,067
-
2,067
Non-GAAP gross profit
$
125,962
$
158,151
$
346,906
$
432,907
Reconciliation of Operating Expenses to Non-GAAP Operating
Expenses: Three Months Ended Nine Months
Ended September 30, September 30,
2022
2023
2022
2023
Operating expenses
$
159,473
$
175,234
$
453,722
$
524,067
Less: Share-based compensation (1)
27,712
33,821
77,631
89,454
Amortization of intangible assets (2)
154
139
458
410
Acquisition related expenses
1,653
-
2,244
-
Non-GAAP operating expenses
$
129,954
$
141,274
$
373,389
$
434,203
Reconciliation of Operating Loss to Non-GAAP Operating Income
(Loss): Three Months Ended Nine Months
Ended September 30, September 30,
2022
2023
2022
2023
Operating loss
$
(39,268
)
$
(25,737
)
$
(122,381
)
$
(111,761
)
Plus: Share-based compensation (1)
31,742
38,601
88,593
102,566
Amortization of share-based compensation capitalized in software
development costs (3)
88
103
264
309
Amortization of intangible assets (2)
1,793
1,843
4,797
5,523
Acquisition related expenses
1,653
-
2,244
-
Impairment of capitalized software development costs
2,067
-
2,067
Non-GAAP operating income (loss)
$
(3,992
)
$
16,877
$
(26,483
)
$
(1,296
)
Reconciliation of Net Loss to Non-GAAP Net Income (loss):
Three Months Ended Nine Months Ended September
30, September 30,
2022
2023
2022
2023
Net loss
$
(32,725
)
$
(14,609
)
$
(108,164
)
$
(75,415
)
Plus: Share-based compensation (1)
31,742
38,601
88,593
102,566
Amortization of share-based compensation capitalized in software
development costs (3)
88
103
264
309
Amortization of intangible assets (2)
1,793
1,843
4,797
5,523
Acquisition related expenses
1,653
-
2,244
-
Amortization of debt discount and issuance costs
746
748
2,234
2,244
Unrealized Gain from investment in privately held companies
(324
)
(250
)
(324
)
(544
)
Impairment of capitalized software development costs
-
2,067
-
2,067
Taxes on income related to non-GAAP adjustments
(5,307
)
(8,894
)
(14,629
)
(22,808
)
Non-GAAP net income (loss)
$
(2,334
)
$
19,609
$
(24,985
)
$
13,942
Non-GAAP net income (loss) per share Basic
$
(0.06
)
$
0.47
$
(0.62
)
$
0.34
Diluted
$
(0.06
)
$
0.42
$
(0.62
)
$
0.30
Weighted average number of shares Basic
40,834,640
41,899,371
40,488,909
41,539,052
Diluted
40,834,640
46,641,527
40,488,909
46,134,041
(1) Share-based Compensation : Three Months
Ended Nine Months Ended September 30,
September 30,
2022
2023
2022
2023
Cost of revenues - Subscription
$
634
$
1,149
$
1,527
$
2,959
Cost of revenues - Perpetual license
42
11
103
30
Cost of revenues - Maintenance and Professional services
3,354
3,620
9,332
10,123
Research and development
6,983
7,867
19,787
21,797
Sales and marketing
13,654
15,800
37,415
43,990
General and administrative
7,075
10,154
20,429
23,667
Total share-based compensation
$
31,742
$
38,601
$
88,593
$
102,566
(2) Amortization of intangible assets : Three
Months Ended Nine Months Ended September 30,
September 30,
2022
2023
2022
2023
Cost of revenues - Subscription
$
1,598
$
1,704
$
4,231
$
5,113
Cost of revenues - Perpetual license
41
-
108
-
Sales and marketing
154
139
458
410
Total amortization of intangible assets
$
1,793
$
1,843
$
4,797
$
5,523
(3) Classified as Cost of revenues - Subscription.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231102454423/en/
Investor Contact: Erica Smith CyberArk Phone:
+1-617-558-2132 ir@cyberark.com Media Contact: Liz Campbell
CyberArk Phone: +1-617-558-2191 press@cyberark.com
CyberArk Software (NASDAQ:CYBR)
過去 株価チャート
から 4 2024 まで 5 2024
CyberArk Software (NASDAQ:CYBR)
過去 株価チャート
から 5 2023 まで 5 2024