CyberArk Software reported first-quarter 2025 revenue of $317.6 million, a 43% increase year-over-year from $221.6 million. Adjusted earnings per share were $0.98, compared to an expected $0.79, while GAAP EPS was $0.22. Net income for the quarter reached $11.5 million, and free cash flow was $96 million. The company's annual recurring revenue (ARR) reached $1.215 billion, a 50% increase from the previous year, with strong contributions from machine identity and AI security. Subscription revenue was $250.6 million, up 60% year-over-year. CyberArk raised its full-year 2025 revenue guidance to between $1.313 billion and $1.323 billion, up from a prior range of $1.308 billion to $1.318 billion, and increased its adjusted EPS outlook to $3.73–$3.85 from $3.55–$3.70. The company also raised its Q2 revenue guidance above consensus. Despite the strong results and raised guidance, CyberArk shares declined by 1.5% post-earnings, after a pre-market drop of 3.4%. The stock price was last reported at $367.66, up 2.3%. CyberArk continues to shift toward a subscription-based model, which contributed to the revenue growth.