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Shares of CyberArk Software (NASDAQ:) traded lower on Thursday morning after the cybersecurity software company offered lower-than-expected revenue guidance for the second quarter.
For the first quarter, the company reported a loss per share of $0.17 on revenue of $161.7 million, which compares with analyst consensus for a loss per share of $0.26 on revenue. of $162.47 million.
“Our first quarter results demonstrate the sustainability of our business model and the criticality of our Identity Security platform,” said Matt Cohen, CEO of CyberArk.
“Given our first quarter results and resilient demand for our solutions, we are well positioned to deliver strong long-term growth, profitability and cash flow.”
For this quarter, CyberArk Software reports a loss per share ranging from $0.19 to $0.09 on revenue of $172.5 million (in the middle of forecasts). Analysts had expected a loss of $0.12 per share on revenue of $175.3 million.
For FY23, the company raised EPS guidance to a range of $0.16-0.38 from the previous range of $0.07-0.28 and above the consensus of 0, $16. Revenue is estimated at $730 million, in line with expectations of $730.17 million.
KeyBanc analysts responded positively to CYBR’s earnings report.