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CyberArk Software (CYBR) investor relations material
CyberArk Software Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Achieved strong topline growth in Q3 2025, with total revenue up 43% year-over-year to $343M and annual recurring revenue (ARR) up 45% to $1,341M as of September 30, 2025.
Subscription ARR grew 57% year-over-year to $1,158M, and net new ARR reached $68M, a 16% increase year-over-year.
Profitability improved, with non-GAAP operating margin of 19% and adjusted free cash flow margin of 15%.
Q3 2025 results include contributions from the acquisitions of Venafi (closed October 2024) and Zilla Security (closed February 2025).
Announced definitive agreement to be acquired by Palo Alto Networks in a $25 billion cash-and-stock deal.
Financial highlights
Recurring revenue accounted for 95% of total revenue in Q3 2025, growing 46% year-over-year.
Subscription revenue grew 60% year-over-year to $280.1M, representing 82% of total revenue in Q3 2025.
SaaS revenue increased 46% year-over-year, while self-hosted subscription revenue grew 89% year-over-year.
Deferred revenue reached $697M in Q3 2025, with SaaS deferred revenue up 39% year-over-year to $460M.
Non-GAAP operating income for Q3 2025 was $65M (19% margin), and adjusted free cash flow was $51M (15% margin).
Outlook and guidance
No financial guidance provided due to pending acquisition by Palo Alto Networks.
Integration of Venafi and Zilla Security anticipated to further expand ARR and customer base.
Management remains focused on operational excellence and increasing operating leverage.
How does pending PANW deal impact operations?
How does CyberArk capitalize on AI-created identities?
Update on Venafi & Zilla integration progress
Acquisition impact on Q3 2025 revenue growth?
Explain GAAP operating loss increase in Q3 2025.
What is the vision for AI agent security?
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Next CyberArk Software earnings date
Q4 202512 Feb, 2026
Next CyberArk Software earnings date
Q4 202512 Feb, 2026
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Frequently asked questions
CyberArk Software Ltd., develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. It offers privileged account security solution to secure, manage, and monitor accounts used to access and control enterprise data centers, including endpoint administrator accounts that may have been compromised by malware; shared account passwords used by administrators to log into customer assets; application accounts embedded in application source code or scripts that provide access to databases or legacy applications; vendor privileged accounts that enable vendors' remote access to customer networks; and cloud privileged accounts. CyberArk Software Ltd. was founded in 1999 and is headquartered in Petah Tikva, Israel.
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