CyberArk Registers Strong Third Quarter 2014 Results

14th November 2014 | By Mouseworld Now Correspondent |

cyberark-logoIndia. November 14, 2014 – CyberArk, (NASDAQ: CYBR), the company that protects organisations from cyber attacks that have made their way inside the network perimeter, today announced financial results for the third quarter ended September 30, 2014.

Udi Mokady, CyberArk CEO, said, “We are very pleased with our strong performance in the third quarter, the first quarter we have completed as a public company. Our solid execution, combined with our industry-leading solutions and our profitable, scalable go-to-market model continue to drive our success across the diverse set of customers in our large and under-penetrated available market.”

Total revenue was $28.0 million, up 66% year-over-year compared with the third quarter of 2013. For the first nine months of 2014, total revenue increased 45% compared with the first nine months of 2013. License revenue was $16.6 million, up 67% compared with the third quarter of 2013, whereas maintenance and Professional Services revenue was $11.3 million, up 64% year-over-year.

GAAP operating income stood at $7.7 million for the quarter, compared to $3.0 million in the third quarter of 2013. GAAP net income was $3.3 million, compared to GAAP income of $2.5 million in the third quarter of 2013. GAAP net income for the third quarter of 2014 includes $1.9 million in warrant expense, compared with $0.7 million in the third quarter of 2013.

Headquartered in Petach Tikvah, Israel, CyberArk has offices in USA and throughout EMEA and Asia-Pacific.

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