Cyberark Software Ltd (NASDAQ:CYBR) stock fell 1.78% (As on February 14, 11:20:03 AM UTC-4, Source: Google Finance) after the company reported better-than-anticipated results for the fourth quarter and delivered strong guidance. CyberArk’s strong figures were driven by increasing subscription revenue, which saw very healthy growth of 62% year-over-year, to $243 million. Maintenance and professional revenue came in at $66.4 million in the quarter, up from $64.8 million in the same quarter of the previous year, and perpetual license revenue was $5 million. The company also saw annual recurring revenue grow 51%, to $1.169 billion, and subscription annual recurring revenue grow 84%, to $977 million. As of December 31, 2024, cash, cash equivalents, short-term deposits, and marketable securities were $841.1 million. The changes in CyberArk’s cash balance reflect the approximately $1 billion in cash as part of the consideration paid for the acquisition of Venafi.

CYBR in the fourth quarter of FY 24 has reported the adjusted earnings per share of 80 cents, beating the analysts’ estimates for the adjusted earnings per share of 72 cents. The company had reported the adjusted revenue growth of 41 percent to $314.4 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $301.2 million. Non-GAAP operating income was $58.7 million, or 19 percent margin, compared to non-GAAP operating income of $34.7 million, or 16 percent margin, in the same period last year.

For its fiscal 2025 first quarter, CyberArk expects adjusted earnings per share of 74 to 81 cents on revenue of $301 million to $307 million. Analysts had expected 77 cents and $300.8 million. For the full year, the company expects adjusted earnings per share of $3.55 to $3.70 on revenue of $1.308 billion to $1.318 billion, both roughly in line with the $3.62 and $1.3 billion expected by analysts.

Today CyberArk also announced a deal to acquire Zilla Security Inc., a startup that helps enterprises manage employee access to internal applications for $175 million. The acquisition comes less than a year after CyberArk’s previous startup purchase. Last May, it inked a $1.54 billion deal to buy Venafi Inc., which provides cybersecurity tools that ease tasks such as protecting developers’ code from tempering. CyberArk will use Zilla’s technology to enhance its product portfolio, which mainly comprises software tools that help workers securely access business applications. Its tools are used for tasks such as processing employee login requests and storing passwords.