Shares of CyberArk Software (CYBR - Get Report) surged nearly 7% in early trading Tuesday after the cloud-based security and information technology company reported earnings that were better than Wall Street estimates.
CyberArk stock gained $8.20 to $129.44 in premarket trading on the Nasdaq Stock Market after the company reported net income of $13.7 million, or 36 cents a share, vs. $6.4 million, or 18 cents a share, in the comparable year-earlier period.
On a non-GAAP basis, the company earned $21.5 million, or 56 cents a share, compared with $11.8 million, or 32 cents a share, a year ago. Analysts polled by FactSet had been expecting per-share earnings of 41 cents.
Revenue came in at $95.9 million, consisting of $51.3 million in licensing revenue and $44.7 million in maintenance and professional services revenue.
Whether you're just getting started with a privileged access #security program or implementing advanced strategies to drive #digitaltransformation, @CyberArk can help. Visit us at #OptivConToronto to learn more. https://t.co/VHSE8o9N7P pic.twitter.com/W7tIQUm3HB— Optiv (@Optiv) May 13, 2019
"We were pleased to deliver results ahead of all guided metrics as well as record cash flow from operations," CyberArk CEO Udi Mokady said in a statement.
The company also provided positive guidance, noting that it expects second-quarter non-GAAP earnings per share of between 45 cents and 48 cents on revenue of between $96 million and $98 million, and full-year non-GAAP earnings per share of between $2.10 and $2.16 a share on revenue of between $415 million and $419 million.
Analysts surveyed by FactSet currently expect second-quarter per-share earnings of 42 cents and full-year per-share earnings of $2.