CYBR - CyberArk Software Ltd. (CYBR) Q1 2024 Earnings Call Transcript

2024-05-02 12:02:17 ET

CyberArk Software Ltd. (CYBR)

Q1 2024 Results Conference Call

May 02, 2024 08:30 AM ET

Company Participants

Erica Smith - Senior Vice President, Finance and Investor Relations

Matt Cohen - Chief Executive Officer

Josh Siegel - Chief Financial Officer

Conference Call Participants

Saket Kalia - Barclays

Gregg Moskowitz - Mizuho

Brian Essex - JPMorgan

Rob Owens - Piper Sandler

Fatima Boolani - Citigroup

Joseph Gallo - Jefferies

Hamza Fodderwala - Morgan Stanley

Adam Borg - Stifel

Roger Boyd - UBS Securities

Andrew Nowinski - Wells Fargo

Ittai Kidron - Oppenheimer

Shrenik Kothari - Baird

Presentation

Operator

Thank you for standing by. My name is Kath, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Quarter 2024 CyberArk Software Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Erica Smith, Senior Vice President of Finance and Investor Relations. Please go ahead.

Erica Smith

Thank you, Kath. Good morning. Thank you for joining us today to review CyberArk's strong first quarter 2024 financial results. With me on the call today are Matt Cohen, our Chief Executive Officer; and Josh Siegel, our Chief Financial Officer. After prepared remarks, we will open up the call to a question-and-answer session.

Before we begin, let me remind you that certain statements made on the call today may be considered forward-looking statements which reflect management's best judgment based on currently available information. I refer specifically to the discussion of our expectations and beliefs regarding our projected results of operations for the second quarter full year 2024 and beyond.

Our actual results might differ materially from those projected in these forward-looking statements. I direct your attention to the risk factors contained in the Company's annual report on Form 20-F filed with the U.S. Securities and Exchange Commission and those referenced in today's press release that are posted to CyberArk's website.

We expressly disclaim any application or undertaking to release publicly any statements or revisions to any forward-looking statements made today. Additionally, non-GAAP financial measures will be discussed on today's call. Reconciliations to the most directly comparable GAAP financial measures are also available in today's press release as well as in an updated investor presentation that outlines the financial discussion in today's call. A webcast of today's call is also available on our website in the Investor Relations section.

With that, I'd like to turn the call over to our CEO, Matt Cohen. Matt?

Matt Cohen

Thanks, Erica, and thanks, everyone, for joining the call today. I want to start by acknowledging CyberArk's 25th anniversary, which we celebrated just a few weeks ago. Udi Mokady, Cyberark's Founder and Executive Chair is a visionary who, along with the founding team, identified a market need and fit out to secure the most valuable information within the world's most complex global organizations....

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