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CyberArk Celebrates 10 Year Anniversary of Its Initial Public Offering

Business Wire 24-Sep-2024 8:00 AM

Milestone marks a decade of sustainable growth, frontrunning innovation and pioneering industry leadership

CyberArk (NASDAQ:CYBR), the identity security company, today marks the 10th anniversary of its Initial Public Offering (IPO) on the NASDAQ.

The company will celebrate the occasion by ringing the Opening Bell at the NASDAQ Stock Exchange at 9:30 a.m. EDT on Tuesday, September 24. CyberArk CEO Matt Cohen and Udi Mokady, CyberArk's founder and executive chairman, will be joined by members of the company's executive leadership team, board of directors and invited guests, including longstanding customers and partners.

"As we proudly celebrate CyberArk's amazing journey since our IPO ten years ago, we want to thank our customers and partners for entrusting us with their identity security needs," said Matt Cohen, CEO, CyberArk. "We have always put security first in everything we do and consistently delivered cutting edge innovation. We are leading the way in establishing a new paradigm for identity security by delivering on our vision of securing every identity – human and machine – with the right level of privilege controls. Our industry-leading platform has expanded our total addressable market to more than $60 billion1. We are only scratching the surface of this large and growing market opportunity."

"We are honored and humbled to be celebrating our 10th anniversary as a publicly traded company. Since the company's founding, putting the customer first has been one of our core values and the support of our customers and partners has been foundational in helping us reach this milestone," said Udi Mokady, CyberArk founder and executive chairman. "Today, CyberArk is widely recognized as the leader in identity security and we have an unwavering commitment to our mission of securing the world against cyberthreats so, together, we can move fearlessly forward. We are incredibly enthusiastic about our future and are well positioned to continue delivering tremendous value to our customers, partners and shareholders."

In the decade since CyberArk's IPO, the company has performed significantly well across every aspect of its business:

  • Revenue Growth: Grew revenues from $103.0 million dollars in fiscal year 2014, to more than $750 million dollars in fiscal year 2023 – a compound annual growth rate of approximately 25%.
  • Stock Performance: Delivered a cumulative return of more than 700% from its IPO price in 2014. CyberArk significantly outperformed the NASDAQ index, which returned approximately 292% during the same time period.
  • Global Scale: Grew customer base from approximately 1,550 at the time of IPO to more than 8,800 globally at year end 2023.
  • Analyst Recognition: CyberArk is consistently recognized as a leader in privileged access management, access management and other elements of identity security by prominent firms in the global industry analyst community.
  • Employee Growth: Grew employee base to more than 3,200 employees worldwide across more than 40 countries, compared to fewer than 400 employees at the time of its IPO. CyberArk has achieved ‘best workplace' recognition in multiple countries and from numerous industry bodies and publications, including BDI-Code, Great Place To Work® and FORTUNE.
  • Acquisitions: Strong track record of successful acquisitions, including identity-as-a-service leader Idaptive in 2020 and the acquisition of Venafi2. Announced in May 2024, this is the largest acquisition in the company's history, expanding CyberArk's abilities to secure machine identities for cloud-first organizations with a unified platform for end-to-end machine identity security at enterprise scale.

1Figure includes $10 billion from the pending Venafi acquisition.

2Venafi Acquisition: The transaction is expected to close in the second half of 2024, subject to required regulatory approvals, clearances and other customary closing conditions.

About CyberArk

CyberArk (NASDAQ: CYBR) is the global leader in identity security. Centered on intelligent privilege controls, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud environments and throughout the DevOps lifecycle. The world's leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on LinkedIn, X, Facebook or YouTube.

Copyright © 2024 CyberArk Software. All Rights Reserved. All other brand names, product names, or trademarks belong to their respective holders.

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