CyberArk Reports Record Q4 & Full Year 2025 Results, Driven by Strong ARR Growth Ahead of PANW Acquisition

summarizeSummary

CyberArk announced record fourth quarter and full year 2025 financial results, highlighted by significant growth in Annual Recurring Revenue and non-GAAP profitability, reinforcing its strong position ahead of the planned acquisition by Palo Alto Networks.

check_boxKey Events

• Record Q4 & FY 2025 Results

  CyberArk achieved record fourth quarter and full year 2025 financial performance, with total revenue up 19% in Q4 to $372.7 million and 36% for the full year to $1.361 billion.

• Strong ARR Growth

  Total Annual Recurring Revenue (ARR) grew 23% year-over-year to $1.440 billion, with the subscription portion of ARR increasing 30% year-over-year to $1.267 billion.

• Increased Non-GAAP Profitability

  Non-GAAP operating income rose to $75.0 million in Q4 2025 (20% margin) from $58.7 million in Q4 2024, and for the full year, it reached $246.7 million (18% margin) from $150.9 million in 2024.

• Positive Cash Flow Generation

  Net cash provided by operating activities was $132.7 million in Q4 2025, up from $64.7 million in the prior year, contributing to $286.654 million for the full year.

auto_awesomeAnalysis

CyberArk's robust performance in Q4 and full year 2025, marked by record net new ARR and substantial subscription revenue growth, underscores the company's strong market position in identity security. The positive financial trajectory, particularly the 23% year-over-year ARR growth to $1.440 billion and 30% subscription ARR growth, provides a strong foundation as the company moves towards its anticipated acquisition by Palo Alto Networks. While GAAP net losses increased for the full year, non-GAAP operating income and net income saw significant improvements, indicating healthy underlying business performance. The company's decision not to provide 2026 guidance is expected due to the pending merger, which is anticipated to close in Q3 of PANW's fiscal 2026.