CyberArk Software Ltd (NASDAQ: CYBR) reported fiscal fourth-quarter 2024 revenue growth of 41% year-on-year to $314.40 million, beating the analyst consensus estimate of $301.31 million.

The cybersecurity company posted an adjusted EPS of $0.80, which beat the analyst consensus estimate of $0.72.

Revenues from Subscriptions expanded 62% Y/Y to $243.0 million. Maintenance and professional services were $66.4 million versus $64.8 million Y/Y.

nnual Recurring Revenue (ARR) increased 51% Y/Y to $1.17 billion. The subscription portion of ARR was $977 million, implying a 68% year-over-year growth.

The Maintenance portion of ARR was $192 million, flat Y/Y. Recurring revenue grew 45% Y/Y to $292.2 million.

CyberArk held $841.1 million in cash and equivalents as of December 31, 2024.

CEO Matt Cohen noted that the company’s performance in the fourth quarter and the year reflects the strength of demand for its identity security solutions. Total ARR reached $1.169 billion, driven by organic ARR crossing $1 billion and the outperformance from Venafi. With its strong revenue growth and free cash flow margin, the company returned to Rule of 40 on a full-year basis, beating its long-term guidance framework by a full year.

Source: FINANCE.YAHOO