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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
CyberArk Software
CyberArk Software (CYBR) investor relations material
CyberArk Software has been acquired by Palo Alto Networks Inc
CyberArk Software Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Feb, 2026
Executive summary
Achieved record net new ARR of $99M in Q4 2025, up 20% year-over-year, and total ARR of $1.44B, up 23% year-over-year.
Subscription ARR grew 30% year-over-year to $1.267B, representing 88% of total ARR.
Total revenue for Q4 2025 was $373M, a 19% increase year-over-year; full year 2025 revenue was $1.361B, up 36% year-over-year.
Announced definitive agreement to be acquired by Palo Alto Networks, expected to close in Q3 of PANW's fiscal 2026.
Acquisitions of Venafi (October 2024) and Zilla Security (February 2025) contributed to ARR and revenue growth.
Financial highlights
Q4 2025 subscription revenue was $310.5M, up 28% year-over-year; recurring revenue comprised 94% of total revenue, growing 22% year-over-year.
Non-GAAP operating margin was 20% in Q4 2025; adjusted free cash flow margin was 34%.
Q4 2025 GAAP operating loss was $(24.5)M; non-GAAP operating income was $75M.
Q4 2025 GAAP net loss was $(17.1)M; non-GAAP net income was $72.6M.
Cash, cash equivalents, deposits, and marketable securities totaled $2.095B as of December 31, 2025.
Segment performance
Q4 2025 subscription revenue was $310.5M, up 28% year-over-year; SaaS revenue up 40%, self-hosted subscription revenue up 12%.
Full year 2025 subscription revenue was $1.105B, up 51% year-over-year; SaaS up 46%, self-hosted up 58%.
Recurring revenue in Q4 2025 was $356M, up 22% year-over-year; full year recurring revenue was $1.29B, up 39%.
Maintenance portion of ARR was $173M at year-end 2025, down from $192M in 2024.
81% of FY 2025 revenue was from subscription, compared to 73% in FY 2024.
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Latest events from CyberArk Software
- Record Q3 revenue, 31% ARR growth, and Venafi acquisition drive raised guidance.CYBR
Q3 2024 - Q3 delivered strong growth and margin gains, with Venafi and Wiz fueling future expansion.CYBR18th Annual Needham Security, Networking, & Communications Conference
- SaaS transition, portfolio expansion, and Venafi acquisition drive growth toward $3B ARR.CYBRCitigroup Global TMT Conference
- Platform expansion and Venafi acquisition position for strong growth in identity security.CYBRPiper Sandler's Growth Frontiers Conference
- Record Q2 growth, raised 2024 guidance, and strong momentum ahead of Venafi acquisition.CYBRQ2 2024
- Identity and machine security drive growth, fueled by SaaS and the Venafi acquisition.CYBRStifel 2024 Cross Sector Insight Conference
- Growth accelerates through platform expansion, machine identity focus, and strategic investments.CYBRBofA Securities 2024 Global Technology Conference
- Unified identity security platform expands with Venafi, AI, and ITDR to drive growth.CYBRThe 44th Annual William Blair Growth Stock Conference
- Strong demand for identity security drives growth in PAM, machine identity, AI, and IGA solutions.CYBRBank of America Global Technology Conference 2025
CyberArk Software
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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.