CyberArk Software Ltd. announced robust financial results for the first quarter ended March 31, 2025. The company reported a total Annual Recurring Revenue $(ARR)$ of $1.215 billion, driven by a strong net new ARR of $46 million. Maintenance, professional services, and other revenue increased to $67.0 million, up from $65.3 million in the first quarter of 2024. The company recorded a GAAP operating loss of $(20.7) million, compared to a GAAP operating loss of $(6.4) million during the same period last year. However, CyberArk's non-GAAP operating income rose to $57.5 million, representing an 18% margin, up from $33.0 million or a 15% margin in the previous year. GAAP net income was reported at $11.5 million, or $0.22 per diluted share, compared to $5.5 million, or $0.13 per diluted share, in the first quarter of 2024. Non-GAAP net income increased to $50.3 million, or $0.98 per diluted share, from $35.9 million, or $0.75 per diluted share, in the same period last year. The company also highlighted a strong free cash flow generation of $96 million. Additionally, CyberArk announced a revision in the presentation of its revenue lines starting from the first quarter of 2025, combining previous lines under "Maintenance, Professional Services and Other" to better align with how management evaluates the business.
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