CyberArk
ConvictionContext
Enterprise SaaS/subscription software (completed license-to-SaaS transition ~2021-2023); ARR-driven, land-and-expand across human, machine, and AI-agent identities; sold direct + channel/GSI. Now operated as the Identity Security pillar inside Palo Alto Networks' platformization model.
Acquired by Palo Alto Networks · Feb 2026
Now part of Palo Alto Networks — $21.1B consideration (cash + stock) · public-market exposure via PANW
Revenue
$1.361B FY2025final standalone year, ended 2025-12-31), +36% YoY vs $1.001B FY2024 (growth includes acquired Venafi full-year and Zilla Security from Feb 2025Rev growth
+36% FY2025 reportedcleaner organic proxy: total ARR +23% YoY to $1.440B (2025-12-31Gross margin
FY2025 gross margin not broken outin the final results press-release summary; non-GAAP gross margin historically ran low-to-mid 80s%, GAAP high 70s-low 80s% (vintage: through FY2025 reportingOp margin
Non-GAAP: $246.7M18% (FY2025; vs 15% FY2024). GAAP: -$131.2M operating loss (~-10%), driven by SBC, Venafi intangible amortization, and deal costsCapex intensity
Low - asset-light software modelcapex immaterial relative to revenue (typical <2-3%; exact FY2025 figure not disclosed in the results summaryMarket cap
Nonedelisted Feb 2026). Takeout value: ~$25B at announcement (Jul 2025), ~$21.1B purchase consideration at close (2026-02-11). Parent PANW market cap applies for listed exposure.Members only
Full financial intelligence for CyberArk
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence