Cyberark Software Ltd Stock Price, News & Analysis

CyberArk (NASDAQ: CYBR) announced new initiatives for its Channel Partner Program to enhance collaboration and efficiency. With over 1,800 security partners globally, CyberArk aims to tackle the growing cybersecurity challenges exacerbated by increased digital transformation investments.

79% of organizations prioritized business operations over cybersecurity in the past year, indicating a market opportunity for CyberArk. The program focuses on expanding routes to market, particularly through Managed Service Providers (MSPs), and enhancing partner training and resources.

CyberArk reported strong Q2 2022 results with Total ARR increasing by 48% to $465 million, led by a 133% growth in Subscription ARR to $255 million. Total revenue reached $142.3 million, up 21% year-over-year, exceeding guidance. However, the company experienced a GAAP operating loss of $(42 million) and a net loss per share of $(0.93). CyberArk raised its full-year ARR guidance to between $543 million and $549 million, projecting continued growth momentum.

CyberArk (NASDAQ: CYBR) has been named a Leader in the 2022 Gartner Magic Quadrant for Privileged Access Management for the fourth consecutive year, recognized for its execution and vision. The company is enhancing its Identity Security Platform to meet increasing cloud security demands through new offerings like CyberArk Secrets Hub and CyberArk Secure Cloud Access. CyberArk emphasizes that effective privileged access management is crucial for reducing cybersecurity risks, supporting over 7,500 global customers.

CyberArk has announced significant advancements in its Identity Security platform at the CyberArk Impact 2022 event in Boston. The updates focus on enhancing privileged access management, identity management, and cloud privilege security to support organizations in countering increasing cybersecurity threats. Key features include Identity Flows for automated tasks, Secure Cloud Access for Just-in-Time access, and a new Identity Security Intelligence service for threat detection. The platform aims to provide secure access for all identities, ultimately driving cyber resilience.

CyberArk has launched its Secrets Hub, a new SaaS solution that enhances developers' access to secrets on AWS while allowing centralized security management. This solution aims to simplify secrets management in hybrid environments, assisting organizations in their transition to the cloud. It addresses prior challenges where secrets had to be duplicated in AWS, thus minimizing security risks and management complexities. The new service also provides developers with a native experience, while enabling security teams to enforce consistent policies across environments.

CyberArk (NASDAQ: CYBR) will report its second quarter 2022 financial results before U.S. markets open on August 10, 2022. A conference call will be held the same day at 8:30 a.m. ET to discuss the results and future business outlook. Participants can join by dialing +1 (888) 330-2455 (U.S.) or +1 (240) 789-2717 (international), using conference ID 6515982. A replay will be available for one week, and the call will also be webcasted via CyberArk's Investor Relations section.

CyberArk (NASDAQ: CYBR) has announced the details of its annual conference, CyberArk Impact 2022, scheduled for July 12-14 in Boston. This global cybersecurity event will gather industry professionals to discuss Identity Security strategies, showcasing CyberArk's innovative solutions. With an agenda featuring expert-led training sessions, keynotes from industry leaders, and a focus on evolving cybersecurity challenges, the event aims to enhance collaboration among partners and stakeholders.

CyberArk (NASDAQ: CYBR) has introduced new functionality for its Endpoint Privilege Manager, extending protection to Linux platforms. This update enables IT professionals to enforce least privilege policies and implement just-in-time security controls on Linux endpoints seamlessly. The new SaaS solution allows for easy policy configuration and monitoring, enhancing visibility over privileged activities. With a unified management console, users can protect endpoints across Windows, Linux, and Mac platforms, addressing critical cybersecurity risks associated with digital transformation.

MINI and JVP announce a strategic partnership to enhance the URBAN-X platform, promoting startups focused on climate and urban technology solutions. This collaboration aims to support emerging companies from Seed to Series B, providing access to vast networks and expertise. URBAN-X has previously invested in over 71 startups, with 88% continuing to secure further capital. The initiative is crucial for addressing climate change, as urban areas contribute significantly to global CO2 emissions. Applications for participation in URBAN-X are now being accepted on a rolling basis.