CyberArk Software (NASDAQ:CYBR) reported robust third-quarter results that exceeded expectations and provided optimistic guidance for the remainder of the year.
For Q3, the identity security company delivered earnings per share of $0.94, more than double the analyst estimate of $0.46. Revenue reached $240.1 million, surpassing the expected $234.1 million. The company highlighted strong performance across all metrics, driven by its leadership in identity security and solid execution.
Looking ahead to the fourth quarter, CyberArk projected earnings per share in the range of $0.65 to $0.75, well above the Street consensus estimate of $0.55. Revenue guidance for Q4 was set between $297 million and $303 million, significantly exceeding the market expectation of $259.1 million.
For the full year, the company forecasted net income per share between $2.85 and $2.96, supported by projected non-GAAP free cash flow of $203 million to $213 million. Total revenue for 2024 was expected to fall between $983 million and $989 million, reflecting anticipated growth of 31% to 32% over the previous year.