iStock

CyberArk Software Ltd (CYBR - Get Report) shares were up 15.5% Thursday after the Israeli cyber security company reported fourth-quarter earnings and revenue ahead of analysts' expectations.

The company reported a profit of 89 cents a share, topping expectations by 30 cents, while revenue of $109.1 million came in ahead of Wall Street estimates of $95.8 million.

"Our record fourth quarter results capped off a tremendous year for CyberArk," said Udi Mokady, CyberArk chairman and CEO. "We delivered record results across all operating metrics including revenue, GAAP and non-GAAP operating income and net income, as well as cash flow from operations and new customer additions."

For the current quarter, the company expects to generate between $91 million and $93 million in revenue, a 27% to 30% increase from the previous year. For the year, the company expects revenue to increase between 20% and 21% in a range between $411 million to $415 million. 

"We were pleased to accelerate revenue growth across the Americas, EMEA and APJ, which demonstrates our strong execution, commitment to innovation, and the robust market fundamentals. As the recognized leader in privileged access security, we enter 2019 with strong momentum and are well positioned to deliver sustainable growth and profitability," Mokady said.