CyberArk improves its income and raises its forecasts

CyberArk improves its income and raises its forecasts

Quarterly subscription revenue has improved 110% to nearly $60 million

The company specialized in security CyberArk has published the results of its first quarter. During the first three months of 2022, it brought in $127.6 million . This is 13% more than in the same period last year. Of these, 65.1 million are related to maintenance and services , 51.9 million dollars come from subscriptions and the other 10.6 million are related to perpetual licenses . The money coming from CyberArk subscriptions has increased in a year by 110%.

“We had an excellent start to 2022 and our business continued to accelerate”, resolves Udi Mokady, CEO of CyberArk, explaining that “digital transformation, Zero Trust adoption and attacker innovation contributed to our momentum”.

“With our 2021 momentum continuing into the first quarter, we confidently raise our full-year guidance on annual recurring revenue,” says Mokady, who sees his company capable of “delivering on a multi-year, durable growth opportunity.”

CyberArk expects to earn at least $135 million in the second quarter. The final figure could reach up to 141 million. For the full year 2022 the revenue forecast is $583.5-598.5 million . Recurring revenue should be around 535-541 million.

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