CyberArk Announces Strong First Quarter 2019 Results
.png)
CyberArk, the global leader in privileged access security, today (14th May) announced strong financial results for the first quarter ended March 31, 2019.
“We were pleased to deliver results ahead of all guided metrics as well as record cash flow from operations,” said Udi Mokady, CyberArk Chairman and CEO. “Our results demonstrate that Privileged Access Security is the foundation of comprehensive cybersecurity programs. As the leader in the market, organizations of all sizes and industries are turning to CyberArk as a trusted advisor to secure digital transformation and cloud migration strategies. As we look at the remainder of 2019 and beyond, we are committed to delivering sustainable growth, strong profitability and continual innovation to secure privileged access across on-premises, hybrid and cloud environments.”
Financial Highlights for the First Quarter Ended March 31, 2019
Revenue:
-
Total revenue was $95.9 million, up 34% compared with the first quarter of 2018.
-
License revenue was $51.3 million, up 33% compared with the first quarter of 2018.
-
Maintenance and professional services revenue was $44.7 million, up 34% compared with the first quarter of 2018.
Operating Income:
-
GAAP operating income was $13.6 million, compared to $4.0 million in the first quarter of 2018. Non-GAAP operating income was $25.5 million, compared to $12.6 million in the first quarter of 2018.
Net Income:
-
GAAP net income was $13.7 million, or $0.36 per diluted share, compared to GAAP net income of $6.4 million, or $0.18 per diluted share, in the first quarter of 2018. Non-GAAP net income was $21.5 million, or $0.56 per diluted share, compared to $11.8 million, or $0.32 per diluted share, in the first quarter of 2018.
The tables at the end of this press release include a reconciliation of GAAP to non-GAAP gross margin, operating income and net income for the three months ended March 31, 2019 and 2018. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”
Balance Sheet and Net Cash Provided by Operating Activities:
-
As of March 31, 2019, CyberArk had $509.7 million in cash, cash equivalents, marketable securities and short-term deposits. This compares with $344.2 million in cash, cash equivalents, marketable securities and short-term deposits as of March 31, 2018 and $451.2 million as of December 31, 2018.
-
As of March 31, 2019, total deferred revenue was $171.1 million, a 43% increase from $119.5 million at March 31, 2018.
-
During the first quarter of 2019, the Company generated $45.9 million in net cash provided by operating activities, a 39% increase compared to $33.1 million in the first quarter of 2018.
Business Outlook
Based on information available as of May 14, 2019, CyberArk is issuing guidance as indicated below:
Second Quarter 2019:
-
Total revenue between $96.0 million and $98.0 million, representing 24% to 26% year-over-year growth.
-
Non-GAAP operating income between $22.0 million and $23.5 million.
-
Non-GAAP net income per share between of $0.45 and $0.48 per diluted share.
-
Assumes 39.1 million weighted average diluted shares.
-
Full Year 2019:
-
Total revenue between $415.0 million and $419.0 million, representing 21% to 22% year-over-year growth.
-
Non-GAAP operating income between $100.5 million and $103.5 million.
-
Non-GAAP net income per share between $2.10 and $2.16 per diluted share.
-
Assumes 38.9 million weighted average diluted shares.
-
source cyberark
Industry: Cyber Security News
Latest Jobs
-
- Account Director | Cyber Security Consulting | UK - South East
- London
- N/A
-
Account Director | Cyber Security Consulting - Financial Services | UK - South East. New Role due to Growth We are looking for an experienced Account Director to develop and expand existing relationships across the financial services sector, working with investment firms, asset managers, private equity groups and strategic partners to deliver intelligent cyber consulting and a bespoke Cyber product offerings. You will act as a trusted advisor, helping organisations strengthen digital resilience, manage third-party and regulatory risk and adopt a proactive approach to cyber assurance. Key Responsibilities Manage a defined portfolio of financial clients, understanding business priorities and aligning tailored cyber solutions. Drive new client engagement while nurturing existing partnerships through a consultative, long-term approach. Present the benefits of advanced cyber services including threat intelligence, vulnerability management, incident readiness, and continuous risk monitoring. Collaborate with technical and delivery teams to ensure smooth engagement from proposal through to implementation and ongoing support. Prepare proposals, negotiate commercial terms, and clearly articulate value and business outcomes. Build trusted relationships at senior and board level. Ideal Profile Strong background in cybersecurity, consulting, or risk management within financial services. Skilled communicator with proven success managing and growing key accounts. Able to translate complex technical insight into commercial and strategic value for clients. Confident engaging with senior stakeholders and decision makers. Please note: Sponsorship is not available.
-
- SOC Analyst- Level 2- Hybrid Greater London
- London
- N/A
-
SOC Analyst- Level 2- Hybrid Greater London New opportunity created through continued growth. We’re looking for a SOC Analyst (Level 2) to strengthen a growing managed security team. You’ll work hands-on with Microsoft Sentinel and Defender XDR, investigating alerts, responding to incidents, and helping improve how clients stay protected. This role is ideal for someone who enjoys unravelling security events, thinking critically under pressure, and making a real difference day to day. What you’ll do · Investigate and respond to security activity across SIEM and endpoint tools · Analyse network and log data to uncover real threats · Support automation initiatives to streamline response processes · Help maintain visibility, data flow, and performance across SOC platforms What you’ll need · Practical experience using Microsoft Sentinel and Defender XDR · Confident working with KQL or similar query languages · Understanding of attacker tactics and response techniques · SC-200 certifications would be nice. · Experience supporting multiple customer environments Please note: Sponsorship is not available.
-
- Senior SOC Engineer - UK - New role due to growth
- London
- N/A
-
Senior SOC Engineer – New role due to growth We are hiring a Senior SOC Engineer to take the lead across security operations for a growing managed service. You will lead detection, response and onboarding activity across multiple clients, helping shape how the SOC evolves. Expect variety; from fine-tuning alerts and threat hunting to supporting customers and mentoring junior analysts. What you’ll bring · Strong experience across SIEM, EDR, and threat detection tools · Confident working with customers in a managed service environment · Skilled in scripting or query languages such as KQL or PowerShell · Knowledge of frameworks like NIST, ISO27001, MITRE ATT&CK · Calm communicator with a problem-solving mindset · Experience with Azure Lighthouse or delegated access models · Prior involvement in automation or SOC improvement projects Location: South East England- Hybrid role Please note: Sponsorship cannot be offered now or in the future.
-
- SENIOR Cyber Risk Consultant. Cyber Risk consultancy - the right way. UK. Hybrid - Remote first
- United Kingdom
- N/A
-
Senior Cyber Risk Consultant needed. New position due to growth Seeking a passionate Cyber Security Risk Consultant who enjoys helping clients make a different to their business. Dedicated training budgets, Unlimited holiday structured career path, Work life balance guaranteed Cyber Risk consultancy done the right way. A successful individual will have experience working with clients to identify business cyber security risk. This is a remote first opportunity which means you will spend the majority of your time working remotely. You will however spend some time meeting clients as well as meeting up with the team on a monthly basis.. Some of the nice to have certifications. CRISC, ISO27001 Lead implementer, CISA, CISM, CISSP Unable to offer Visa sponsorship now or in the future.