By Chris Wack
CyberArk Software shares were up 8% at $175.29 after the company reported a third-quarter loss that was narrower than expected.
The stock hit its 52-week high of $177.12 earlier in the session, and is up 29% in the past 12 months.
The identity security company reported a quarterly loss of $14.6 million, or 35 cents a share, compared with a loss of $32.7 million, or 80 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $16.9 million, or 39 cents a share.
Revenue for the quarter was $191.2 million, compared with last year’s $152.7 million and the $184.7 million analysts were expecting.
The company said its subscription revenue grew 68% year-over-year, to $504 million.
For the fourth quarter, CyberArk expects revenue of $206.5 million to $211.5 million, compared with the $209.3 million analysts are expecting. For fiscal 2023, the company is looking for revenue of $735.3 million to $740.3 million, compared with the $731.4 million analysts have forecast.
Write to Chris Wack at [email protected]
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