📊 CyberArk Software Ltd. (NASDAQ:CYBR) redefines the cybersecurity landscape in a world where identity threats are growing rapidly. In Q3 ’24, the company achieved a remarkable 26% revenue growth year-over-year, driven by an impressive 43% increase in subscription revenues. CyberArk has positioned itself as the trusted leader for enterprises securing human and machine identities with precision and innovation.
🔒 CYBR delivers industry-leading privileged access management (PAM) solutions, recognized by Gartner as the most visionary in 2024. The company added 230 new customers this quarter, demonstrating the strength of its integrated privilege controls across diverse identity types. These solutions empower enterprises to navigate multi-cloud environments with unmatched security and efficiency.
📈 CyberArk Software expanded its market dominance with the $1.54 billion acquisition of Venafi, enhancing its machine identity management capabilities. With AI driving a staggering 45:1 machine-to-human identity ratio, CyberArk is addressing this critical challenge by unlocking new growth opportunities through its extensive customer base of over 8,500 organizations.
💰 CYBR reported subscription ARR of $735 million, reflecting a 46% year-over-year increase and now accounting for 79% of total ARR. The transition to a recurring revenue model drove operating margins up from 9% to 15%. Free cash flow margins reached 21%, further showcasing the efficiency and profitability of CyberArk recurring revenue approach.
🚀 As a leader in the $60 billion identity security market, CyberArk has become an indispensable partner for enterprises navigating the complexities of the digital future. CYBR provides organizations with the tools to innovate confidently while maintaining uncompromising security standards.
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