First quarter total revenue of $71.8 million increases 22%
year-over-year
GAAP operating income of $4.0 million and non-GAAP operating income
of $12.6 million
Cash flow from operations of $33.1 million increases 107%
year-over-year
NEWTON, Mass. & PETACH TIKVA, Israel--(BUSINESS WIRE)--May 3, 2018--
CyberArk,
(NASDAQ: CYBR), the global leader in privileged
access security, today announced financial results for the first
quarter ended March 31, 2018.
“We were pleased to start 2018 with a very strong quarter, exceeding our
guidance across revenue, operating income and EPS,” said Udi Mokady,
CyberArk Chairman and CEO. “We continue to see robust demand for our
solution across geographies and vertical markets. Our strong results
were driven by both new and existing customers who are protecting
credentials and secrets on premises, in the cloud and in the DevOps
pipeline. The year is off to a great start and with our strong results
in the first quarter, we are well positioned to execute our strategy and
capitalize on our tremendous opportunity.”
Financial Highlights for the First Quarter Ended March 31, 2018
Revenue:
-
Total revenue was $71.8 million, up 22% compared with the first
quarter of 2017.
-
License revenue was $38.5 million, up 17% compared with the first
quarter of 2017.
-
Maintenance and professional services revenue was $33.3 million, up
28% compared with the first quarter of 2017.
Operating Income:
-
GAAP operating income was $4.0 million, compared to $6.0 million in
the first quarter of 2017. Non-GAAP operating income was $12.6
million, compared to $12.7 million in the first quarter of 2017.
Net Income:
-
GAAP net income was $6.4 million, or $0.18 per diluted share, compared
to GAAP net income of $7.5 million, or $0.21 per diluted share, in the
first quarter of 2017. Non-GAAP net income was $11.8 million, or $0.32
per diluted share, compared to $10.2 million, or $0.28 per diluted
share, in the first quarter of 2017.
The tables at the end of this press release include a reconciliation of
GAAP to non-GAAP gross margin, operating income and net income for the
three months ended March 31, 2018 and 2017. An explanation of these
measures is also included below under the heading “Non-GAAP Financial
Measures.”
Balance Sheet and Cash Flow:
-
As of March 31, 2018, CyberArk had $344.2 million in cash, cash
equivalents, marketable securities and short-term deposits, which
reflects the cash consideration paid for Vaultive Ltd. during the
first quarter of 2018. This compares to $330.3 million as of December
31, 2017.
-
During the first quarter of 2018, the Company generated $33.1 million
in cash flow from operations, an increase from $16.0 million in the
first quarter of 2017.
Business Outlook
Based on information available as of May 3, 2018, CyberArk is issuing
guidance for the second quarter and full year 2018 as indicated below.
Second Quarter 2018:
-
Total revenue is expected to be in the range of $72.0 million to $73.5
million, which represents 25% to 28% year-over-year growth.
-
Non-GAAP operating income is expected to be in the range of $10.2
million to $11.4 million.
-
Non-GAAP net income per share is expected to be in the range of $0.23
to $0.25 per diluted share. This assumes 36.9 million weighted average
diluted shares.
Full Year 2018:
-
Total revenue is expected to be in the range of $315.0 million to
$319.0 million, which represents 20% to 22% year-over-year growth.
-
Non-GAAP operating income is expected to be in the range of $57.5
million to $60.5 million.
-
Non-GAAP net income per share is expected to be in the range of $1.31
to $1.37 per diluted share. This assumes 36.8 million weighted average
diluted shares.
Conference Call Information
CyberArk will host a conference call today, Thursday, May 3, 2018 at
4:30 p.m. Eastern Time (ET) to discuss the company’s first 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 9355458. 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 9355458. An archived webcast of the conference call will
also be available in the “Investor Relations” section of the company’s
web site at www.cyberark.com.
About CyberArk
CyberArk
(NASDAQ: CYBR)
is the global leader in privileged access security, a critical layer of
IT security to protect data, infrastructure and assets across the
enterprise, in the cloud and throughout the DevOps pipeline. CyberArk
delivers the industry’s most complete solution to reduce risk created by
privileged credentials and secrets. The company is trusted by the
world’s leading organizations, including more than 50 percent of the
Fortune 100, to protect against external attackers and malicious
insiders. A global company, CyberArk is headquartered in Petach Tikva,
Israel, with U.S. headquarters located in Newton, Mass. The company also
has offices throughout the Americas, EMEA, Asia Pacific and Japan. To
learn more about CyberArk, visit www.cyberark.com,
read the CyberArk
blogs or follow on Twitter via @CyberArk,
LinkedIn
or Facebook.
Copyright © 2018 CyberArk Software. All Rights Reserved. All
other brand names, product names, or trademarks belong to their
respective holders.
Non-GAAP Financial Measures
CyberArk believes that the use
of non-GAAP gross profit, non-GAAP operating income and non-GAAP net
income is helpful to our investors. These financial measures are not
measures of the Company’s financial performance under U.S. GAAP and
should not be considered as alternatives to operating income or net
income or any other performance measures derived in accordance with GAAP.
-
Non-GAAP gross profit is calculated as gross profit excluding
share-based compensation expense and amortization of intangible assets
related to acquisitions.
-
Non-GAAP operating income is calculated as operating income excluding
share-based compensation expense, acquisition related expenses and
amortization of intangible assets related to acquisitions.
-
Non-GAAP net income is calculated as net income excluding share-based
compensation expense, acquisition related expenses, amortization of
intangible assets related to acquisitions and the tax effect of the
non-GAAP adjustments.
The Company believes that providing non-GAAP financial measures that
exclude share-based compensation, acquisition related expenses and
amortization of intangible assets related to acquisitions allows for
more meaningful comparisons of its period to period operating results.
Share-based compensation expense has been and will continue to be for
the foreseeable future, a significant recurring expense in the Company’s
business and an important part of the compensation provided to its
employees. Share based compensation expense has varying available
valuation methodologies, subjective assumptions and the variety of
equity instruments that can impact a company’s non-cash expense. The
Company believes that expenses related to its acquisitions and
amortization of intangible assets related to acquisitions do not reflect
the performance of its core business and impact period-to-period
comparability.
Non-GAAP financial measures may not provide information that is directly
comparable to that provided by other companies in the Company’s
industry, as other companies in the industry may calculate non-GAAP
financial results differently, particularly related to non-recurring,
unusual items. In addition, there are limitations in using non-GAAP
financial measures as they exclude expenses that may have a material
impact on the Company’s reported financial results. The presentation of
non-GAAP financial information is not meant to be considered in
isolation or as a substitute for the directly comparable financial
measures prepared in accordance with U.S. GAAP. CyberArk urges investors
to review the reconciliation of its non-GAAP financial measures to the
comparable U.S. GAAP financial measures included below, and not to rely
on any single financial measure to evaluate its business.
Cautionary Language Concerning Forward-Looking Statements
This release may contain forward-looking statements, which express the
current beliefs and expectations of CyberArk’s (the “Company”)
management. In some cases, forward-looking statements may be identified
by terminology such as “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “expect,” “predict,”
“potential” or the negative of these terms or other similar expressions.
Such statements involve a number of known and unknown risks and
uncertainties that could cause the Company’s future results, performance
or achievements to differ significantly from the results, performance or
achievements expressed or implied by such forward-looking statements.
Important factors that could cause or contribute to such differences
include risks relating to: changes in the rapidly evolving cyber threat
landscape; failure to effectively manage growth; near-term declines in
our operating and net profit margins and our revenue growth rate; real
or perceived shortcomings, defects or vulnerabilities in the Company’s
solutions or internal network system, or the failure of the Company’s
customers or channel partners to correctly implement the Company’s
solutions; fluctuations in quarterly results of operations; the
inability to acquire new customers or sell additional products and
services to existing customers; competition from IT security vendors;
the Company’s ability to successfully integrate recent and or future
acquisitions; and other factors discussed under the heading “Risk
Factors” in the Company’s most recent annual report on Form 20-F filed
with the Securities and Exchange Commission. Forward-looking statements
in this release are made pursuant to the safe harbor provisions
contained in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made only as of the date hereof, and the
Company undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or
otherwise.
|
|
|
|
|
|
|
|
CYBERARK SOFTWARE LTD.
|
Consolidated Statements of Operations
|
U.S. dollars in thousands (except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
License
|
|
|
$
|
32,952
|
|
|
$
|
38,494
|
|
Maintenance and professional services
|
|
|
|
26,083
|
|
|
|
33,289
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
|
59,035
|
|
|
|
71,783
|
|
|
|
|
|
|
|
|
|
Cost of revenues:
|
|
|
|
|
|
|
|
License
|
|
|
|
1,584
|
|
|
|
2,397
|
|
Maintenance and professional services
|
|
|
|
7,683
|
|
|
|
8,891
|
|
|
|
|
|
|
|
|
|
Total cost of revenues
|
|
|
|
9,267
|
|
|
|
11,288
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
|
49,768
|
|
|
|
60,495
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
Research and development
|
|
|
|
9,214
|
|
|
|
12,984
|
|
Sales and marketing
|
|
|
|
27,678
|
|
|
|
34,582
|
|
General and administrative
|
|
|
|
6,878
|
|
|
|
8,899
|
|
|
|
|
|
|
|
|
|
Total operating expenses
|
|
|
|
43,770
|
|
|
|
56,465
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
|
|
5,998
|
|
|
|
4,030
|
|
|
|
|
|
|
|
|
|
Financial income, net
|
|
|
|
548
|
|
|
|
1,841
|
|
|
|
|
|
|
|
|
|
Income before taxes on income
|
|
|
|
6,546
|
|
|
|
5,871
|
|
|
|
|
|
|
|
|
|
Tax benefit
|
|
|
|
990
|
|
|
|
550
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
$
|
7,536
|
|
|
$
|
6,421
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per ordinary share
|
|
|
$
|
0.22
|
|
|
$
|
0.18
|
|
Diluted net income per ordinary share
|
|
|
$
|
0.21
|
|
|
$
|
0.18
|
|
|
|
|
|
|
|
|
|
Shares used in computing net income
|
|
|
|
|
|
|
|
per ordinary shares, basic
|
|
|
|
34,395,084
|
|
|
|
35,454,102
|
|
Shares used in computing net income
|
|
|
|
|
|
|
|
per ordinary shares, diluted
|
|
|
|
36,113,216
|
|
|
|
36,464,230
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based Compensation Expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
|
|
$
|
453
|
|
|
$
|
655
|
|
Research and development
|
|
|
|
1,309
|
|
|
|
1,504
|
|
Sales and marketing
|
|
|
|
1,671
|
|
|
|
2,417
|
|
General and administrative
|
|
|
|
1,766
|
|
|
|
2,347
|
|
|
|
|
|
|
|
|
|
Total share-based compensation expense
|
|
|
$
|
5,199
|
|
|
$
|
6,923
|
|
|
|
|
|
|
|
|
|
CYBERARK SOFTWARE LTD.
|
Consolidated Balance Sheets
|
U.S. dollars in thousands
|
(Unaudited)
|
|
|
|
|
|
December 31,
|
|
|
March 31,
|
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
161,261
|
|
|
$
|
182,042
|
|
|
Short-term bank deposits
|
|
|
|
107,647
|
|
|
|
98,511
|
|
|
Marketable securities
|
|
|
|
34,025
|
|
|
|
44,807
|
|
|
Trade receivables
|
|
|
|
|
45,315
|
|
|
|
38,388
|
|
|
Prepaid expenses and other current assets
|
|
|
|
7,407
|
|
|
|
11,216
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
|
355,655
|
|
|
|
374,964
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM ASSETS:
|
|
|
|
|
|
|
|
Property and equipment, net
|
|
|
|
9,230
|
|
|
|
10,587
|
|
|
Intangible assets, net
|
|
|
|
15,664
|
|
|
|
19,660
|
|
|
Goodwill
|
|
|
|
|
69,217
|
|
|
|
83,195
|
|
|
Marketable securities
|
|
|
|
27,407
|
|
|
|
18,791
|
|
|
Severance pay fund
|
|
|
|
3,692
|
|
|
|
3,647
|
|
|
Other long-term assets
|
|
|
|
2,368
|
|
|
|
13,809
|
|
|
Deferred tax asset
|
|
|
|
19,343
|
|
|
|
17,956
|
|
|
|
|
|
|
|
|
|
|
|
Total long-term assets
|
|
|
|
146,921
|
|
|
|
167,645
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS
|
|
|
|
$
|
502,576
|
|
|
$
|
542,609
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
|
|
|
|
Trade payables
|
|
|
|
$
|
1,960
|
|
|
$
|
5,033
|
|
|
Employees and payroll accruals
|
|
|
|
25,253
|
|
|
|
22,954
|
|
|
Accrued expenses and other current liabilities
|
|
|
|
10,209
|
|
|
|
6,635
|
|
|
Deferred revenues
|
|
|
|
66,986
|
|
|
|
74,728
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
|
104,408
|
|
|
|
109,350
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM LIABILITIES:
|
|
|
|
|
|
|
|
Deferred revenues
|
|
|
|
38,249
|
|
|
|
44,748
|
|
|
Other long-term liabilities
|
|
|
|
242
|
|
|
|
1,500
|
|
|
Accrued severance pay
|
|
|
|
5,712
|
|
|
|
5,549
|
|
|
|
|
|
|
|
|
|
|
|
Total long-term liabilities
|
|
|
|
44,203
|
|
|
|
51,797
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
|
|
|
|
148,611
|
|
|
|
161,147
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS' EQUITY:
|
|
|
|
|
|
|
|
Ordinary shares of NIS 0.01 par value
|
|
|
|
91
|
|
|
|
92
|
|
|
Additional paid-in capital
|
|
|
|
249,874
|
|
|
|
258,763
|
|
|
Accumulated other comprehensive income (loss)
|
|
|
|
107
|
|
|
|
(456
|
)
|
|
Retained earnings
|
|
|
|
103,893
|
|
|
|
123,063
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders' equity
|
|
|
|
353,965
|
|
|
|
381,462
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
|
|
|
$
|
502,576
|
|
|
$
|
542,609
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CYBERARK SOFTWARE LTD.
|
Consolidated Statements of Cash Flows
|
U.S. dollars in thousands
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
Net income
|
|
|
$
|
7,536
|
|
|
|
$
|
6,421
|
|
|
Adjustments to reconcile net income to net cash
|
|
|
|
|
|
|
|
provided by operating activities:
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
1,685
|
|
|
|
|
2,194
|
|
|
Amortization of premium on marketable securities
|
|
|
|
97
|
|
|
|
|
101
|
|
|
Share-based compensation expenses
|
|
|
|
5,199
|
|
|
|
|
6,923
|
|
|
Deferred income taxes, net
|
|
|
|
(2,727
|
)
|
|
|
|
(1,272
|
)
|
|
Decrease (increase) in trade receivables
|
|
|
|
(1,560
|
)
|
|
|
|
6,927
|
|
|
Increase in prepaid expenses and other
|
|
|
|
|
|
|
|
current and long-term assets
|
|
|
|
(1,341
|
)
|
|
|
|
(2,294
|
)
|
|
Increase in trade payables
|
|
|
|
797
|
|
|
|
|
3,191
|
|
|
Increase in short term and long term deferred revenues
|
|
|
|
7,237
|
|
|
|
|
17,760
|
|
|
Decrease in employees and payroll accruals
|
|
|
|
(1,932
|
)
|
|
|
|
(3,003
|
)
|
|
Increase (decrease) in accrued expenses and other
|
|
|
|
|
|
|
|
current and long-term liabilities
|
|
|
|
851
|
|
|
|
|
(3,758
|
)
|
|
Increase (decrease) in accrued severance pay, net
|
|
|
|
139
|
|
|
|
|
(118
|
)
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
|
15,981
|
|
|
|
|
33,072
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
Proceeds from short and long term deposit
|
|
|
|
-
|
|
|
|
|
9,254
|
|
|
Investment in short and long term deposits
|
|
|
|
(4,965
|
)
|
|
|
|
-
|
|
|
Investment in marketable securities
|
|
|
|
(9,845
|
)
|
|
|
|
(9,933
|
)
|
|
Proceeds from maturities of marketable securities
|
|
|
|
2,545
|
|
|
|
|
7,423
|
|
|
Purchase of property and equipment
|
|
|
|
(1,255
|
)
|
|
|
|
(2,502
|
)
|
|
Payments for business acquisitions, net of cash acquired
|
|
|
|
-
|
|
|
|
|
(18,488
|
)
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
|
(13,520
|
)
|
|
|
|
(14,246
|
)
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
Proceeds from exercise of stock options
|
|
|
|
703
|
|
|
|
|
1,942
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by financing activities
|
|
|
|
703
|
|
|
|
|
1,942
|
|
|
|
|
|
|
|
|
|
|
Increase in cash, cash equivalents and restricted cash
|
|
|
|
3,164
|
|
|
|
|
20,768
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at the beginning of the
period
|
|
|
|
174,156
|
|
|
|
|
162,520
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at the end of the period
|
|
|
$
|
177,320
|
|
|
|
$
|
183,288
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CYBERARK SOFTWARE LTD.
|
Reconciliation of GAAP Measures to Non-GAAP Measures
|
U.S. dollars in thousands (except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Gross Profit to Non-GAAP Gross Profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
$
|
49,768
|
|
|
|
$
|
60,495
|
|
|
Plus:
|
|
|
|
|
|
|
|
Share-based compensation - Maintenance & professional services
|
|
|
|
453
|
|
|
|
|
655
|
|
|
Amortization of intangible assets - License
|
|
|
|
843
|
|
|
|
|
1,230
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross profit
|
|
|
$
|
51,064
|
|
|
|
$
|
62,380
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Operating Income to Non-GAAP Operating Income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
|
$
|
5,998
|
|
|
|
$
|
4,030
|
|
|
Plus:
|
|
|
|
|
|
|
|
Share-based compensation
|
|
|
|
5,199
|
|
|
|
|
6,923
|
|
|
Amortization of intangible assets - Cost of revenues
|
|
|
|
843
|
|
|
|
|
1,230
|
|
|
Amortization of intangible assets - Sales and marketing
|
|
|
|
246
|
|
|
|
|
198
|
|
|
Acquisition related expenses
|
|
|
|
438
|
|
|
|
|
268
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating income
|
|
|
$
|
12,724
|
|
|
|
$
|
12,649
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Net Income to Non-GAAP Net Income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
$
|
7,536
|
|
|
|
$
|
6,421
|
|
|
Plus:
|
|
|
|
|
|
|
|
Share-based compensation
|
|
|
|
5,199
|
|
|
|
|
6,923
|
|
|
Amortization of intangible assets - Cost of revenues
|
|
|
|
843
|
|
|
|
|
1,230
|
|
|
Amortization of intangible assets - Sales and marketing
|
|
|
|
246
|
|
|
|
|
198
|
|
|
Acquisition related expenses
|
|
|
|
438
|
|
|
|
|
268
|
|
|
Taxes on income related to non-GAAP adjustments
|
|
|
|
(4,015
|
)
|
|
|
|
(3,229
|
)
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
|
|
|
$
|
10,247
|
|
|
|
$
|
11,811
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income per share
|
|
|
|
|
|
|
|
Basic
|
|
|
$
|
0.30
|
|
|
|
$
|
0.33
|
|
|
Diluted
|
|
|
$
|
0.28
|
|
|
|
$
|
0.32
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares
|
|
|
|
|
|
|
|
Basic
|
|
|
|
34,395,084
|
|
|
|
|
35,454,102
|
|
|
Diluted
|
|
|
|
36,113,216
|
|
|
|
|
36,464,230
|
|

View source version on businesswire.com: https://www.businesswire.com/news/home/20180503006544/en/
Source: CyberArk
CyberArk
Investor Contact:
Erica Smith, +1 617-558-2132
ir@cyberark.com
or
Media
Contact:
Liz Campbell, +1-617-558-2191
press@cyberark.com