Welcome to our dedicated page for Cyberark Software news (Ticker: CYBR), a resource for investors and traders seeking the latest updates and insights on Cyberark Software stock.
CyberArk Software Ltd. (NASDAQ: CYBR) is a cybersecurity company focused on identity security and privileged access management, and the news surrounding CYBR reflects this specialization. Company announcements emphasize its AI-powered Identity Security Platform, which applies intelligent privilege controls to human, machine and AI identities across the identity lifecycle. News items frequently describe how CyberArk helps organizations reduce operational and security risks by enabling zero trust and least privilege with complete visibility.
Investors and security professionals following CYBR news will see regular updates on product and platform enhancements, research findings and analyst recognitions. Recent releases highlight CyberArk’s expansion of its Machine Identity Security portfolio with discovery and context capabilities, the introduction of the CyberArk Secure AI Agents Solution to protect AI agent identities, and new tools such as TLS certificate exposure and renewal impact calculators. These stories illustrate how the company is addressing challenges such as shrinking certificate lifespans, machine identity sprawl and emerging agentic AI risks.
CYBR news also covers financial performance and key metrics, including updates on Annual Recurring Revenue and the mix of subscription and maintenance revenue, as disclosed in earnings releases. In addition, there is significant coverage of strategic transactions, notably CyberArk’s Agreement and Plan of Merger with Palo Alto Networks, Inc., and subsequent shareholder approval of the merger proposal, as reported in SEC filings and joint press releases.
Other recurring themes in CyberArk news include participation in partner ecosystems, such as its inclusion in the Microsoft Security Store Partner Ecosystem, and recognition as a Leader in independent analyst evaluations like the Gartner Magic Quadrant for Privileged Access Management and other identity security assessments. Readers who monitor CYBR news can track how CyberArk is evolving its identity security platform, responding to shifts in AI and cloud adoption, and progressing toward its planned combination with Palo Alto Networks.
CyberArk has achieved QC1 certification from Italy's Agenzia per la Cybersicurezza Nazionale (ACN) for two SaaS components of its Identity Security Platform. The certification enables CyberArk's SaaS products to be available in the ACN marketplace for Italian government organizations. The certified products include CyberArk Privilege Cloud, which secures privileged access in hybrid and multi-cloud environments, and CyberArk Endpoint Privilege Manager, which secures human identities by extending identity security to workstations and servers. This certification aligns with Italy's National Cybersecurity Strategy and follows CyberArk's recent FedRAMP® High Authorization achievement in the United States.
Konoike Transport, a Japanese logistics company with 24,000 employees, has implemented CyberArk's Privileged Access Manager to enhance its cybersecurity infrastructure. The implementation addresses previous challenges of fragmented privileged access management and siloed password systems. The new system provides unified visibility of privileged accounts, improved incident response times, and better compliance with requirements like the Sarbanes-Oxley Act. This implementation aligns with Konoike's cloud-first digital transformation strategy, enabling secure cloud-based privileged access within a single architecture.
CyberArk (NASDAQ: CYBR) has announced a strategic partnership with cloud security provider Wiz, integrating their Identity Security Platform with Wiz's Cloud Security Platform. The partnership aims to help cloud-native organizations strengthen their multi-cloud security by providing enhanced visibility and control over privileged access.
The integration addresses challenges faced by organizations managing numerous cloud environments and identities, focusing on reducing unauthorized access risks and meeting compliance requirements. The solution combines Wiz's capabilities in discovering critical risks and misconfigured cloud access with CyberArk's Zero Standing Privileges implementation.
CyberArk announced a planned CFO transition, with Josh Siegel stepping down on January 1, 2025, to become an advisor. Deputy CFO Erica Smith will assume the CFO role. Smith, who joined CyberArk in 2015, previously served as Senior VP of Finance and Investor Relations, playing key roles in the company's business model transition and recent $1.6 billion Venafi acquisition. During Siegel's 13-year tenure, CyberArk grew from under $40 million in revenue to nearly $1 billion in ARR, maintaining profitable growth. Smith brings over 25 years of finance leadership experience and will focus on supporting CyberArk's continued growth and innovation.
CyberArk (CYBR) reported strong Q3 2024 financial results, exceeding all guided metrics. Subscription revenue grew 43% year-over-year to $175.6 million, while total revenue increased 26% to $240.1 million. The company's Annual Recurring Revenue (ARR) reached $926 million, up 31% year-over-year, with the subscription portion growing 46% to $735 million. GAAP net income was $11.1 million ($0.24 per diluted share). The company raised its full-year 2024 guidance across all metrics and announced the successful closure of the Venafi acquisition on October 1, 2024.
CyberArk (NASDAQ: CYBR), the identity security company, has announced its participation in three upcoming investor conferences in November and December 2024. The company will present at the Needham Security, Networking & Communications Conference (virtual) and RBC Capital Markets Global TIMT Conference in New York on November 19, and the UBS Global TMT Conference in Scottsdale on December 3. All presentations will be available via webcast and archived on CyberArk's investor relations website.
CyberArk (NASDAQ: CYBR) has been recognized as an Overall Leader in the 2024 KuppingerCole Leadership Compass on Privileged Access Management (PAM). The report highlights CyberArk's pioneering role in PAM, utilizing artificial intelligence for threat detection and credential protection in hybrid and multi-cloud environments.
KuppingerCole placed CyberArk in the top quadrant with the highest scores across Product, Innovation, and Market Leadership categories. The report noted CyberArk's focus on identity security, multi-tenancy support, and Zero Standing Privileges (ZSP) to reduce identity-related risk.
The CyberArk Identity Security Platform offers a unified, modular approach to cyber-risk reduction, encompassing PAM, workforce and customer access, endpoint privilege security, secrets management, cloud privilege security, and identity management to enable Zero Trust and enforce least privilege.
CyberArk (NASDAQ: CYBR), the identity security company, has announced it will report its third quarter 2024 financial results on Wednesday, November 13, 2024, before the U.S. financial markets open. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the financial results and business outlook.
To access the call, participants can dial +1 (888) 330-2455 (U.S.) or +1 (240) 789-2717 (international) with the conference ID 6515982. A live webcast will be available on the company's website. Following the call, a replay will be accessible for one week, and an archived webcast will be available in the 'Investor Relations' section of CyberArk's website.
Venafi, a CyberArk company, has unveiled new product capabilities in its Control Plane for Machine Identities at the 2024 Machine Identity Security Summit. These advancements aim to address critical machine identity security challenges and help organizations prepare for a multi-cloud and post-quantum future. Key features include:
1. Support for Post Quantum Cryptography (PQC) in TLS Protect and CodeSign Protect
2. Cloud-to-Cloud Connectivity for multi-cloud environments
3. Workload Identity Federation to enhance security and reduce reliance on API keys
4. OpenShift Routes component for Red Hat OpenShift users
These new capabilities are designed to help security and platform teams tackle emerging machine identity challenges, improve overall security posture, and ensure organizations are prepared for future technological advancements.
CyberArk (NASDAQ: CYBR) has successfully completed its acquisition of Venafi, a leader in machine identity management, from Thoma Bravo. This strategic move expands CyberArk's total addressable market by $10 billion to approximately $60 billion. The combined capabilities aim to create end-to-end machine identity security solutions, addressing the rapid proliferation of machine identities in digital environments.
The acquisition, valued at approximately $1.54 billion, was completed through a combination of cash ($1 billion) and CyberArk ordinary shares ($540 million). This merger is expected to set a new paradigm for machine identity security at enterprise scale, shifting from manual, siloed approaches to centralized management across all applications and workloads in any cloud or IT environment.
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