Today, CyberArk (NASDAQ: CYBR) reported its record financial results for the fourth-quarter and full-year 2019. The Company further forecasted low estimates for the first-quarter of 2020, which caused CyberArk shares to decline. 

The Massachusetts Company declared a total revenue for the fourth-quarter in 2019 of USD 129.7 million, with an increase of 19% from the same period in 2018. GAAP operating income was reported USD 22.9 million, compared to USD 27.5 million in the fourth quarter of 2018. The GAAP net income was USD 20.7 million, or USD 0.53 per diluted share, compared to USD 24.2 million, or USD 0.64 per diluted share in the same period last year.

For the full-year 2019, which ended on December 31, 2019, CyberArk announced a total revenue of USD 433.9 million, increased by 30% on a year-to-year basis. Full-year 2019 GAAP net income was USD 63.1 million, or USD 1.62 per diluted share, in comparison with a 2018 GAAP net income of USD 47.1 million, or USD 1.27 per diluted share. 

Udi Mokady, CyberArk Chairman and CEO said:

“Our record fourth quarter results capped off another great year of strong growth driven by disciplined investments. Throughout 2019, organizations continued to recognize that protecting privileged access is foundational to a comprehensive security program and increasingly turned to CyberArk as a trusted advisor, particularly to secure mission-critical digital transformation and cloud migration strategies. Our clear leadership position in the market and ongoing commitment to deliver innovation, positions us well to deliver profitable growth in 2020 and beyond.”

For the first quarter of 2020, the Company expects the total revenue to be in the range of USD 106.0 to USD 110.0 million. 

Based in Newton, Massachusetts, CyberArk is a leading company in privileged access management, a critical layer of IT security to protect data, infrastructure and assets in cloud and hybrid environments, as well as throughout the DevOPS pipeline.