CyberArk Software (CYBR) Q2 Revenue Guidance Misses Views

CyberArk (NASDAQ: CYBR), the company that protects organizations from cyber attacks that have made their way inside the network perimeter, today announced preliminary results for the second quarter ended June 30, 2017.

Based on preliminary information, CyberArk currently expects to report second quarter 2017 preliminary results of:

• Total revenue in the range of $57.0 million and $57.5 million compared to the company’s previous guidance of total revenue in the range of $61.0 million to $62.0 million.
  • License revenue in the range of $30.0 million and $30.5 million.
• GAAP operating income in the range of $700,000 and $1.1 million.
• Non-GAAP operating income in the range of $8.5 million and $8.9 million, compared to the company’s prior guidance of between $10.9 million and $11.7 million.
• Cash flow from operations of approximately $29 million for the first six months of 2017.
• Cash, cash equivalents, marketable securities and short term deposits at June 30, 2017 to be approximately $283 million at June 30, 2017, which reflects the approximately $42 million in cash consideration paid for the acquisition of Conjur, Inc. in May 2017.

(Street sees Q2 EPS of $0.24 on revenue of $61.9m)

CyberArk will provide full financial results including its GAAP and non-GAAP earnings per share and updated guidance during its conference call on August 8, 2017.

Second quarter 2017 preliminary, unaudited results are based on management's initial review of operations for the quarter ended June 30, 2017 and are subject to change based on the completion of the company’s quarter-end reporting process and review.

“We are disappointed that our results for the second quarter will be below the guidance we provided in May,” said Udi Mokady, CyberArk Chairman and CEO. “The primary reason for our revenue shortfall was our performance in EMEA, where certain deals that we anticipated would close did not close by the end of the quarter. We are actively working to determine and implement the appropriate steps to improve execution, drive stronger results and enhance visibility into our EMEA performance.”

“There were a number of positive trends in the quarter. The Americas and APJ continued to grow, our pipeline expanded and market fundamentals for privileged account security across all geographies continued to be robust. We believe that our significant greenfield opportunity, leadership position in the market, and strategy will deliver long term value to our shareholders,” concluded Mokady.

Preliminary Results Conference Call TodayCyberArk will host a conference call today, July 13, 2017, at 5:00 p.m. Eastern Time to discuss its preliminary second quarter results. To access this call, dial +1 844-237-3590 (U.S.) or +1 484-747-6582 (international). The conference ID is 54985835. Additionally, a live webcast of the conference call will be available via the “Investor Relations” section of the company’s web site at www.cyberark.com.

A replay will be available for one week at +1 855-859-2056 (U.S.) or +1 404-537-3406 (international). The conference ID is 54985835. An archived webcast of the conference call will also be available in the “Investor Relations” section of the company’s website at www.cyberark.com.

Full Quarterly Results for the Second Quarter Conference Call on August 8, 2017CyberArk plans to report full financial results for the quarter ended June 30, 2017 after the close of the market on August 8, 2017 at 4:30 p.m. Eastern Time (ET) to discuss the company’s second quarter financial results and its business outlook. To access this call, dial +1 844-237-3590 (U.S.) or +1 484-747-6582 (international). The conference ID is 44458128. Additionally, a live webcast of the conference call will be available via the “Investor Relations” section of the company’s web site at www.cyberark.com. Following the conference call, a replay will be available for one week at +1 855-859-2056 (U.S.) or +1 404-537-3406 (international). The replay pass code is 44458128. An archived webcast of the conference call will also be available in the “Investor Relations” section of the company’s website at www.cyberark.com.

You May Also Be Interested In

• JPMorgan raises S&P 500 target to 7,800, says earnings revision ’unprecedented’
• BMO Capital on FedEx (FDX): 'Guidance Appears Consistent With Our Forecasts'
• TD Cowen cuts Flowserve to Hold, flags guidance reset risk amid Mideast woes