On a down day for the broader market, CyberArk Software (CYBR -4.90%) was a big winner. The cybersecurity-company's stock zoomed 8.5% skyward, on the back of results that trounced estimates.
CyberArk unveiled its figures for the last quarter of 2021. Total revenue rose to $151.3 million from the year-ago result of $144.5 million. It also well exceeded the average analyst estimate of just under $144.7 million. The main driver of the company's top-line growth was subscription revenue, which more than doubled to almost $48 million for the quarter.
As for profitability, CyberArk's non-GAAP (adjusted) net income fell precipitously to $11.8 million from Q4 2020's $32.6 million. Yet on a per-share basis, the $0.28 the company earned was nearly double the collective prognosticator forecast of $0.16.
The adjusted net-income slide was fully expected by both analysts and investors. CyberArk continues to transform into a company more dependent on subscription-based services. While such strategy shifts can be painful in the short term, if well conceived and effectively implemented, they can really help a company grow.
CyberArk's management continues to believe strongly in the company's transformation. It quoted CEO Udi Mokady as saying that, "With the acceleration in our business in 2021, our excellence in execution and strong competitive stance, we are in a great position to deliver long-term profitable growth and increase shareholder value."
Reflecting this, CyberArk proffered 2022 guidance indicating further improvements to the top line. The company believes it will post revenue of $582 million to $598 million, well up from the nearly $503 million of 2021. Red numbers on the bottom line are apparently in the cards, however, as the company is forecasting an adjusted per-share net loss of $0.64 to $0.98.