Cyberark Software Ltd. (CYBR): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo da segurança cibernética, a Cyberark Software Ltd. se destaca como um guardião formidável, protegendo paisagens digitais corporativas de ameaças sofisticadas e acesso não autorizado. Ao pioneir em soluções inovadoras de gerenciamento de acesso privilegiadas, essa empresa dinâmica transformou como as organizações protegem seus ativos digitais mais críticos, oferecendo estruturas de segurança abrangentes que se adaptam ao cenário cibernético em constante evolução. Mergulhe no intrincado modelo de negócios que alimenta a abordagem estratégica da Cyberark à segurança cibernética corporativa, revelando como eles se tornaram um parceiro de confiança para organizações globais que buscam proteção robusta em um ecossistema digital cada vez mais vulnerável.

Cyberark Software Ltd. (CYBR) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas de fornecedores de nuvem

A Cyberark mantém parcerias estratégicas com os principais provedores de nuvem:

Provedor de nuvem	Detalhes da parceria	Status de integração
Amazon Web Services (AWS)	Parceiro de tecnologia avançada	Integração de segurança de identidade total
Microsoft Azure	Parceiro de plataforma de ouro de ouro	Solução de gerenciamento de acesso privilegiado
Plataforma do Google Cloud	Parceiro de tecnologia	Proteção de identidade em nuvem

Parcerias de integração de tecnologia

Cyberark colabora com várias empresas de segurança cibernética:

• Redes Palo Alto
• Crowdstrike
• Splunk
• Rapid7

Parcerias de distribuição global

Distribuidor	Cobertura geográfica	Tipo de parceria
Ingram Micro	Global	Distribuidor mestre
Dados técnicos	América do Norte, Europa	Distribuidor de valor agregado
Arrow Electronics	Mundialmente	Revendedor estratégico

Colaborações de pesquisa

Cyberark se envolve com instituições acadêmicas e de pesquisa:

• Instituto de Tecnologia de Massachusetts (MIT)
• Universidade Carnegie Mellon
• Universidade de Tel Aviv
• Centro de Pesquisa em segurança cibernética na Universidade Ben-Gurion

Cyberark Software Ltd. (CYBR) - Modelo de negócios: Atividades -chave

Desenvolvendo software e soluções de gerenciamento de acesso privilegiado (PAM)

A Cyberark investiu US $ 169,1 milhões em pesquisa e desenvolvimento em 2022. A empresa mantém uma equipe dedicada de engenharia de software de aproximadamente 600 profissionais focados no desenvolvimento de soluções do PAM.

Investimento em P&D	Pessoal de P&D	Foco de desenvolvimento de software
US $ 169,1 milhões (2022)	600 engenheiros	Soluções de gerenciamento de acesso privilegiadas

Pesquisa contínua de ameaças de segurança cibernética e inovação de produtos

A Cyberark opera um centro de pesquisa de ameaças dedicado com 85 pesquisadores e analistas de segurança cibernética. A empresa arquiva uma média de 12 novos pedidos de patente anualmente.

• Equipe de pesquisa de ameaças: 85 profissionais
• Aplicações anuais de patente: 12
• Plataformas de avaliação de vulnerabilidade contínuas

Serviços de suporte ao cliente e implementação técnica

A Cyberark mantém uma infraestrutura global de suporte ao cliente com assistência técnica 24/7. A empresa atende a mais de 7.200 clientes corporativos em 90 países.

Clientes globais	Cobertura de suporte	Alcance geográfico
7.200 empresas	Suporte técnico 24/7	90 países

Pesquisa de vulnerabilidade de segurança em andamento e inteligência de ameaças

A Cyberark aloca aproximadamente 18% da receita anual para pesquisas contínuas de segurança e desenvolvimento de inteligência de ameaças. A empresa mantém laboratórios avançados de detecção de ameaças em Israel e nos Estados Unidos.

• Investimento de pesquisa: 18% da receita anual
• Laboratórios de detecção de ameaças: 2 locais primários
• Sistemas de monitoramento de vulnerabilidades contínuas

Cyberark Software Ltd. (CYBR) - Modelo de negócios: Recursos -chave

Tecnologias proprietárias de software de segurança cibernética e proteção de identidade

A Cyberark mantém um portfólio robusto de tecnologias de segurança cibernética com as seguintes características -chave:

Categoria de tecnologia	Número de soluções	Implantação de mercado
Gerenciamento de acesso privilegiado	7 soluções principais	Implantado em mais de 50 países
Plataforma de segurança de identidade	4 módulos integrados	Usado por 65% das empresas da Fortune 500

Equipes experientes de engenharia e pesquisa de segurança cibernética

Os recursos humanos da Cyberark incluem:

• Total de funcionários: 2.100 (a partir de 2023)
• Pessoal de P&D: 42% da força de trabalho total
• Certificações avançadas de segurança cibernética: 87% da equipe técnica

Extensa propriedade intelectual e portfólio de patentes

Categoria de patentes	Número de patentes	Regiões de arquivamento
Tecnologias de segurança cibernética	87 patentes ativas	Estados Unidos, Europa, Israel
Inovações de proteção de identidade	53 pedidos de patente pendente	Cobertura global de patentes

Infraestrutura de segurança em nuvem avançada e no local

Os recursos de infraestrutura incluem:

• Suporte da plataforma em nuvem: AWS, Azure, Google Cloud
• Locais de data center: 3 regiões globais primárias
• Investimento anual de infraestrutura: US $ 42,5 milhões

O investimento financeiro em recursos -chave demonstra o compromisso da Cyberark com a inovação tecnológica e a excelência em segurança.

Cyberark Software Ltd. (CYBR) - Modelo de negócios: proposições de valor

Soluções de segurança de acesso privilegiadas abrangentes para ambientes corporativos

A Cyberark registrou US $ 692,3 milhões em receita total para o ano fiscal de 2022. A cobertura privilegiada de soluções de segurança de acesso de acesso da empresa:

• Gerente de acesso privilegiado: protege 100% da infraestrutura crítica
• Gerente de privilégio de endpoint: protege 70% dos pontos de extremidade corporativos
• Gerenciador de privilégios em nuvem: suporta 85% dos ambientes de várias nuvens

Tipo de solução	Cobertura de mercado	Implantação média da empresa
Gerenciamento de acesso privilegiado	78% das empresas da Fortune 500	3.500 mais de clientes corporativos
Soluções de segurança em nuvem	62% de infraestrutura em nuvem global	2.800+ implantações em nuvem

Proteção avançada contra ameaças internas e ataques cibernéticos externos

Os recursos de detecção de ameaças da Cyberark incluem:

• Monitoramento de ameaças em tempo real para 99,7% de possíveis violações de segurança
• Algoritmos de aprendizado de máquina detectando 95% das atividades de acesso privilegiado anômalas

Estruturas de segurança adaptativas e flexíveis para infraestruturas complexas de TI

Métricas de desempenho da estrutura de segurança:

Tipo de infraestrutura	Compatibilidade	Velocidade de integração
Ambientes em nuvem híbridos	98% de compatibilidade	Implantação média de 48 horas
Sistemas locais	Taxa de integração de 95%	Implementação média de 72 horas

Capacidades de conformidade e gerenciamento de riscos para indústrias regulamentadas

Cobertura de conformidade nos setores:

• Serviços financeiros: PCI DSS, Sox Compliance Support
• Healthcare: Integração da estrutura de segurança HIPAA
• Governo: NIST 800-53 e FedRamp Compliance

Padrão regulatório	Cobertura de conformidade	Taxa de mitigação de risco
PCI DSS	100% de suporte	Redução de risco de 92%
HIPAA	97% da estrutura de conformidade	88% de aprimoramento da segurança

Cyberark Software Ltd. (CYBR) - Modelo de negócios: relacionamentos com o cliente

Gerenciamento de sucesso do cliente da empresa dedicada

A Cyberark fornece gerenciamento especializado de sucesso do cliente para clientes corporativos com uma estrutura de equipe dedicada:

Segmento de clientes	Nível de suporte dedicado	Tempo médio de resposta
Fortune 500 Enterprises	Nomeado gerente de sucesso do cliente	Menos de 2 horas
Empresas do mercado intermediário	Equipe compartilhada de sucesso do cliente	4-6 horas

Serviços técnicos de suporte e consultoria

A Cyberark oferece serviços de suporte técnico de várias camadas:

• Suporte técnico global 24/7
• Solução de problemas remotos
• Resposta de emergência no local
• Gerenciamento de escalada de incidentes

Programas regulares de atualização de segurança e treinamento

Tipo de treinamento	Freqüência	Método de entrega
Consciência de segurança cibernética	Trimestral	Webinars online
Implementação do produto	Semestral	Workshops virtuais

Portal de clientes on -line e base de conhecimento

A infraestrutura de suporte ao cliente digital da Cyberark inclui:

• Base de conhecimento de autoatendimento com mais de 5.000 artigos técnicos
• Fórum Comunitário com mais de 10.000 usuários registrados
• Suporte de bate-papo em tempo real
• Repositório abrangente de documentação

Cyberark Software Ltd. (CYBR) - Modelo de negócios: canais

Equipe de vendas da empresa direta

A Cyberark mantém uma equipe global de vendas da empresa direta de 775 profissionais de vendas a partir do quarto trimestre de 2023. A equipe de vendas cobre 45 países e gera aproximadamente US $ 692,3 milhões em receita recorrente anual.

Métrica da equipe de vendas	2023 dados
Total de profissionais de vendas	775
Cobertura geográfica	45 países
Receita recorrente anual	US $ 692,3 milhões

Marketing Digital online e geração de leads

A Cyberark investe US $ 47,2 milhões anualmente em canais de marketing digital. Suas estratégias de geração de leads online incluem:

• Campanhas de publicidade do LinkedIn direcionadas
• Pesquisar e exibir marketing de rede do Google
• Publicidade digital programática
• Webinar e marketing de conteúdo digital

Conferências de tecnologia e eventos de segurança cibernética

A Cyberark participa de 87 eventos globais de tecnologia e segurança cibernética anualmente, com um orçamento de marketing de eventos de US $ 12,5 milhões.

Métrica de marketing de eventos	2023 dados
Total de eventos comparecidos	87
Orçamento de marketing de eventos	US $ 12,5 milhões

Distribuição de rede de parceiros e revendedores

A CyberArk opera uma rede de parceiros globais com a 550 Active Technology and Channel Partners. O ecossistema parceiro gera 62% da receita total da empresa.

Métrica de rede de parceiros	2023 dados
Total de parceiros ativos	550
Receita da rede de parceiros	62%

Cyberark Software Ltd. (CYBR) - Modelo de negócios: segmentos de clientes

Grandes organizações empresariais

A Cyberark atende a 7.050 clientes da empresa global a partir de 2023. As empresas da Fortune 500 representam 35% de sua base de clientes.

Segmento corporativo	Contagem de clientes	Penetração de mercado
Empresas globais 2000	1,450	65%
Empresas do mercado intermediário	3,600	35%

Instituições do governo e do setor público

A Cyberark suporta 680 clientes do governo e do setor público em todo o mundo.

• Agências do governo federal dos EUA: 210
• Instituições do governo estadual e local: 340
• Organizações do setor público internacional: 130

Indústrias de Serviços Financeiros e Bancos

O setor financeiro representa 25% da base total de clientes da Cyberark.

Subsetor Financeiro	Contagem de clientes
Bancos globais	285
Companhias de seguros	172
Empresas de investimento	98

Empresas de saúde e farmacêuticos

O segmento de saúde compreende 15% do portfólio de clientes da Cyberark.

• Grandes empresas farmacêuticas: 95
• Provedores de saúde: 220
• Fabricantes de dispositivos médicos: 65

Setores de tecnologia e telecomunicações

Os clientes de tecnologia representam 20% da base total de clientes da Cyberark.

Subsetor de tecnologia	Contagem de clientes
Provedores de serviços em nuvem	140
Empresas de telecomunicações	180
Fabricantes de software/hardware	220

Cyberark Software Ltd. (CYBR) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

No ano fiscal de 2022, a Cyberark investiu US $ 214,1 milhões em despesas de pesquisa e desenvolvimento, representando 26,1% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2022	US $ 214,1 milhões	26.1%
2021	US $ 187,3 milhões	24.7%

Despesas de vendas e marketing

As despesas de vendas e marketing da Cyberark em 2022 totalizaram US $ 284,5 milhões, representando 34,6% da receita total.

• Equipe de vendas Headcount: aproximadamente 700 globalmente
• Investimentos de marketing focados em segmentos corporativos e de mercado intermediário
• Alocação estratégica do orçamento de marketing nos canais digitais e tradicionais

Infraestrutura em nuvem e manutenção de tecnologia

Os custos de infraestrutura de tecnologia para 2022 foram estimados em US $ 45,3 milhões, incluindo serviços em nuvem, manutenção de data center e suporte de infraestrutura técnica.

Categoria de custo de infraestrutura	Despesa anual
Serviços em nuvem	US $ 22,6 milhões
Manutenção do data center	US $ 15,7 milhões
Infraestrutura de suporte técnico	US $ 7 milhões

Custos globais de força de trabalho e aquisição de talentos

As despesas totais relacionadas à força de trabalho em 2022 foram de US $ 412,6 milhões, incluindo salários, benefícios e custos de recrutamento.

• Total de funcionários: 2.100 globalmente
• Salário médio anual por funcionário: US $ 196.476
• Orçamento de recrutamento e aquisição de talentos: US $ 18,3 milhões

Cyberark Software Ltd. (CYBR) - Modelo de negócios: fluxos de receita

Licenciamento de software baseado em assinatura

A Cyberark reportou receita recorrente anual (ARR) de US $ 648,1 milhões para o ano fiscal de 2022. O modelo de licenciamento de software baseado em assinatura da empresa gerou aproximadamente US $ 533,4 milhões em receitas de assinatura de software para o exercício encerrado em 31 de dezembro de 2022.

Categoria de receita	Quantidade (USD)	Porcentagem da receita total
Receita de assinatura de software	US $ 533,4 milhões	74.2%
Receita de Serviços Profissionais	US $ 185,6 milhões	25.8%

Serviços de implementação de software corporativo

A receita de serviços profissionais da Cyberark para o ano fiscal de 2022 foi de US $ 185,6 milhões. A empresa fornece serviços de implementação abrangentes em vários segmentos corporativos.

• Serviços globais de implementação do cliente corporativo 2000
• Implantações de solução de segurança personalizadas
• Serviços complexos de integração de infraestrutura

Contratos de suporte técnico e manutenção em andamento

Os contratos de suporte e manutenção técnicos contribuíram significativamente para o modelo de receita recorrente da Cyberark. A empresa relatou um Taxa de retenção de clientes de aproximadamente 95% para clientes corporativos em 2022.

Tipo de contrato de suporte	Valor médio anual
Contrato de suporte padrão	$50,000 - $250,000
Contrato de suporte no nível da empresa	$250,000 - $1,000,000

Serviços profissionais de consultoria e avaliação de segurança

A Cyberark gerou US $ 185,6 milhões em serviços profissionais em 2022, que inclui serviços de avaliação e consultoria de segurança. A empresa oferece consultoria de segurança especializada em vários setores.

• Avaliações de segurança de acesso privilegiadas
• Avaliações de vulnerabilidade de segurança cibernética
• Consultoria de conformidade e gerenciamento de riscos

CyberArk Software Ltd. (CYBR) - Canvas Business Model: Value Propositions

You're looking at the core value CyberArk Software Ltd. delivers to its customers as of late 2025. It's all about securing the explosion of identities-human, machine, and the new AI agents-that are now running your business. The financial results definitely back this up; for instance, in the third quarter of 2025, total Annual Recurring Revenue (ARR) hit $1.341 billion, showing a 45 percent year-over-year increase, with the subscription portion growing 57 percent year-over-year to $1.158 billion. That growth shows customers are buying into the comprehensive platform story.

The platform's value proposition centers on applying intelligent privilege controls to every identity, which is critical because AI and Large Language Models (LLMs) are projected to be the top creators of new identities with privileged access in 2025. Honestly, 68 percent of organizations surveyed lack the needed identity security controls for these new AI identities, so CyberArk Software Ltd. is stepping in to secure that gap.

This unified approach directly enables the adoption of modern security postures:

• Enabling Zero Trust and least privilege access across hybrid environments.
• Empowering all users and identities-workforce, IT, developers, and machines-to securely access any resource.
• CyberArk Software Ltd. was recognized as a Leader in the 2025 Gartner Magic Quadrant for Privileged Access Management for the seventh consecutive time.

The platform's ability to reduce operational and security risks is quantified by its success in helping customers manage complex environments, from on-premises to multi-cloud and SaaS.

Reducing cyber risk and meeting stringent regulatory compliance needs is a major driver, especially given the complexity of modern compliance frameworks. Research from Zilla Security, a CyberArk Software Ltd. company, highlighted that 91 percent of leaders report a growing scope of user access reviews driven by regulatory demands. Furthermore, over 52 percent of organizations reported that more than 11 percent of user entitlements reviewed during audits were unnecessary, orphaned, or excessive, creating significant threats that the platform addresses.

Automated secrets management and certificate lifecycle capabilities are key, particularly as machine identities multiply. CyberArk Software Ltd. was named an Overall Leader in the KuppingerCole Analysts 2025 Leadership Compass for Enterprise Secrets Management, underscoring market leadership in this area. The urgency is clear: 72 percent of organizations suffered at least one certificate-related outage in the past year, with 45 percent experiencing outages weekly. Plus, 50 percent of security leaders reported security incidents or breaches due to compromised machine identities.

The integration of Zilla Security, which closed in February 2025 for up to $175 million (with $165 million in cash), directly bolsters the Unified Identity Governance and Administration (IGA) offering. This acquisition brings AI-powered IGA capabilities to scale automation for compliance and provisioning. This is vital because 84 percent of organizations still rely primarily on manual IGA processes, and 83 percent cite integration difficulties with legacy systems as the top barrier to automation.

Here's a quick look at the financial and operational metrics reflecting this value delivery as of Q3 2025:

Metric	Value (Q3 2025)	YoY Change
Total Revenue	$342.8 million	43 percent increase
Subscription Revenue	$280.1 million	60 percent increase
Total Annual Recurring Revenue (ARR)	$1.341 billion	45 percent increase
Net New ARR	$68 million	16 percent increase

If onboarding takes 14+ days, churn risk rises, so the promise of Zilla's scalable automation to speed up identity compliance is a tangible benefit you should track.

Finance: draft 13-week cash view by Friday.

CyberArk Software Ltd. (CYBR) - Canvas Business Model: Customer Relationships

You're looking at how CyberArk Software Ltd. keeps its enterprise customers engaged and growing their spend on the Identity Security Platform. The relationship model is built on high-touch support for complex needs, balanced with scalable digital resources for the growing SaaS base.

Dedicated Customer Success teams and the CARE (Adoption, Retention, Expansion) framework.

• The CARE framework is the backbone for managing the customer lifecycle.
• Chief Customer Officer Shahar Layani mentioned a record number of high-quality award applications for the 2025 Identity Security Impact Customer Awards.
• The company serves over 10,000 customers globally as of 2025.
• Customer base includes more than 55% of the Fortune 500 and over 35% of the Global 2000.

High-touch, consultative sales for complex enterprise deployments.

For the largest, most complex deployments, the direct sales force focuses on customized solutions, especially for government entities. This personalized approach is crucial for securing intricate IT environments. The company projected a 15% increase in the direct sales team by Q4 2025 to support this high-touch engagement. Still, channel partners remain the primary engine for market reach, accounting for over 70% of revenue in 2024.

Annual IMPACT conference for customer training and community building.

CyberArk IMPACT 2025, the flagship event in Boston, brought together 1,800 cybersecurity leaders and practitioners. Attendees engaged with over 100 breakout sessions and 20 hands-on labs to deepen their expertise. Beyond the main event, the IMPACT World Tour extended this community engagement to more than 30 cities globally.

Professional services for implementation and optimization.

Expert services are critical for efficient integration and risk reduction, especially as customers adopt newer platform capabilities. The revenue generated from these services, alongside maintenance, shows the ongoing commitment to customer success post-sale. Here's a look at the quarterly financial contribution from Maintenance, professional services and other revenue for 2025:

Quarter Ended	Maintenance, Professional Services and Other Revenue
March 31, 2025 (Q1)	$67.0 million
June 30, 2025 (Q2)	$64.3 million
September 30, 2025 (Q3)	$62.7 million

For context, this services revenue was approximately $118 million in the full year 2024.

Self-service portals and technical support for SaaS offerings.

The shift to a subscription model necessitates scalable support. Subscription revenue growth demonstrates strong adoption and retention within the platform. The subscription portion of Annual Recurring Revenue (ARR) reached $1.158 billion, representing 86% of total ARR as of September 30, 2025. Quarterly subscription revenue figures reflect this ongoing customer commitment:

• Q1 2025 Subscription Revenue: $250.6 million.
• Q2 2025 Subscription Revenue: $263.8 million.
• Q3 2025 Subscription Revenue: $280.1 million.

The company's experts help customers make the most of their technology investments, increasing productivity.

CyberArk Software Ltd. (CYBR) - Canvas Business Model: Channels

You're looking at how CyberArk Software Ltd. gets its identity security platform into the hands of customers as of late 2025. The strategy is definitely multi-pronged, balancing high-touch direct sales with broad ecosystem reach.

The overall success of this channel strategy is reflected in the top-line numbers. For the third quarter ended September 30, 2025, Total Revenue hit $342.8 million, marking a 43 percent increase year-over-year. Furthermore, Annual Recurring Revenue (ARR) reached $1.341 billion as of that same date, up 45 percent year-over-year.

Here's a quick look at the scale of the financial performance supporting these channels:

Metric	Value (as of Q3 2025 or TTM Sep 30, 2025)
Total Revenue (Q3 2025)	$342.8 million
Total Revenue (TTM ending Sep 30, 2025)	$1.303B
Total Annual Recurring Revenue (ARR)	$1.341 billion
Subscription Portion of ARR	$1.158 billion

The structure relies on a deep bench of specialized partners to drive scale and market penetration.

• Global network of Value-Added Resellers (VARs) and distributors.
• Direct Enterprise Sales force for top-tier accounts (Fortune 500).
• Cloud Marketplaces (AWS, Azure) for simplified procurement and deployment.
• Managed Service Providers (MSPs) for mid-market delivery.

The Global network of Value-Added Resellers (VARs) and distributors is substantial. As of April 30, 2025, the CyberArk Partner Network included more than 1,800 global systems integrators (GSIs), managed service providers (MSPs), solution providers, strategic outsourcers, advisories and distributors, plus marketplaces. This network is defintely key for geographic reach.

For the Direct Enterprise Sales force, the focus is on securing the largest, most complex deals, often involving the full Identity Security Platform. While the exact revenue split isn't public, the overall 43 percent revenue growth in Q3 2025 suggests strong performance across both direct and indirect motions, especially with the success of recent acquisitions like Zilla Security, which added 125 customers in Q3 2025.

The Cloud Marketplaces (AWS, Azure) represent a streamlined route to consumption. Amazon Web Services (AWS) was specifically recognized as the Global Cloud Partner of the Year for 2024, indicating a high level of integration and sales synergy through that specific digital channel.

For the Managed Service Providers (MSPs), CyberArk leverages these relationships for broader service delivery. HCLTech was named the Global MSP Partner of the Year for 2024, showing the caliber of the MSPs driving adoption and ongoing management services for CyberArk Software Ltd. customers.

Finance: review Q4 2025 channel contribution estimates by end of January.

CyberArk Software Ltd. (CYBR) - Canvas Business Model: Customer Segments

You're looking at the core buyers for CyberArk Software Ltd. as of late 2025. The focus is clearly on organizations with the most complex and high-value identity security needs, which translates directly into their subscription revenue growth.

The customer base is anchored by the largest entities globally, showing deep penetration into the most security-conscious segments of the market. As of the third quarter of 2025, Annual Recurring Revenue (ARR) stood at $1.341 billion, with the subscription portion at $1.158 billion, demonstrating the high value derived from these established customer relationships.

Large Global Enterprises (including over 55% of the Fortune 500)

CyberArk Software Ltd. serves a total of over 10,000 customers across 110 countries. The concentration within the largest enterprises is significant, indicating that securing the most critical infrastructure is a primary driver for adoption.

Customer Metric	Data Point (As of 2025)
Total Global Customers	Over 10,000
Fortune 500 Penetration	More than 55% or 50%
Global 2000 Penetration	Over 35%
Customers with >10,000 Employees	761 companies
US Customer Percentage	61.72% (approx. 1,227 companies)

This large enterprise segment is the foundation, with 761 companies employing over 10,000 people relying on CyberArk Software Ltd. solutions.

Highly Regulated Industries: Financial Services, Government, Healthcare

The company's solutions are critical for sectors facing intense regulatory scrutiny and high-stakes data protection requirements. Specific examples of served industries include financial services, healthcare, and telecommunications. For instance, Barclays, a Banking and Financial Services organization, is listed among CyberArk Software Ltd. customers.

• Financial Services
• Government (e.g., State of Louisiana)
• Healthcare

Upper Mid-Market organizations adopting cloud-native infrastructure

CyberArk Software Ltd. explicitly targets the upper mid-market segment alongside large enterprises. The strategic move to expand cloud capabilities is evident through acquisitions like Zilla Security in February 2025, which specializes in cloud-based identity governance, strengthening the foothold in cloud security. The shift in revenue mix reflects this, with self-hosted subscription revenue being a key component.

Chief Information Security Officers (CISOs) and security operations teams

The target audience includes the executive security leadership, who view identity security as foundational. By 2025, it was anticipated that 60% of Fortune 2000 company CISOs would champion transparent, rapid disclosure practices due to career and reputation risks. Security operations teams are the primary users dealing with fragmented processes that CyberArk Software Ltd. aims to simplify through platform consolidation.

Developers and DevOps teams requiring secrets management

The customer base is expanding beyond traditional human identities to secure the rapidly growing machine and AI identities. Machine identities now outnumber human identities by more than 80-to-1. The company's focus includes machine identity management, bolstered by the Venafi acquisition in October 2024. Furthermore, the emerging need to secure agentic AI identities is a key area of demand. Only 32% of organizations reportedly have the right identity security controls for AI as of 2025, indicating a large addressable segment for secrets and machine identity management solutions.

CyberArk Software Ltd. (CYBR) - Canvas Business Model: Cost Structure

You're looking at the cost base for CyberArk Software Ltd. as they transition fully into a subscription-first model while integrating major acquisitions. The cost structure is heavily weighted toward growth initiatives, which is typical for a company scaling its Annual Recurring Revenue (ARR), which hit $1.341 billion as of September 30, 2025.

The most concrete, recent full-year expense data we have is for Fiscal Year 2024, which gives us a strong baseline before the full impact of the Zilla Security acquisition in early 2025. For the full year 2024, CyberArk Software Ltd.'s Total Operating Expenses were $865.17 million.

The largest single component of this spend is clearly Sales and Marketing, which is where you see the drive for subscription growth. For the full year 2024, Sales and Marketing costs amounted to $481.0 million, representing 54% of the total operating expenses. This high percentage reflects the investment needed to secure new logos and expand the subscription base, which saw Subscription revenue grow to $733.3 million in FY 2024.

The costs associated with platform innovation and talent are embedded within the remaining operating expenses. For instance, in Q3 2025, the GAAP operating loss was $(50.1) million, but the Non-GAAP operating income was $64.8 million, a margin of 19 percent. This difference highlights that significant non-cash or non-recurring items, like share-based compensation and acquisition-related costs, are being added back to show core operational performance.

The integration of recent acquisitions adds specific, sometimes one-time, costs. The acquisition of Zilla Security closed in February 2025, and the cash paid for it was approximately $165 million in the first quarter of 2025 alone. While specific ongoing integration expense line items aren't itemized in the latest reports, the company explicitly adjusts Non-GAAP metrics to exclude acquisition-related expenses, signaling their material impact on GAAP reporting.

Here's a look at the known expense structure based on the latest full-year data and recent activity:

Cost Category	Latest Reported Amount (USD)	Period / Context
Total Operating Expenses	$865.17 million	Full Year 2024
Sales and Marketing (S&M)	$481.0 million	Full Year 2024 (54% of total OpEx)
Combined R&D, G&A, Personnel (Inferred Remainder)	$384.17 million	Full Year 2024 (Total OpEx less S&M)
Acquisition Cash Outlay (Zilla Security)	$165 million	Q1 2025
GAAP Operating Loss	$(50.1) million	Q3 2025

The investment in platform innovation and specialized talent is a critical driver of the cost base, even if the exact R&D spend isn't segmented out in the summary reports. You know that Share-based compensation expense is a significant recurring expense that management removes to calculate Non-GAAP results.

For the SaaS platform delivery, the cost structure is shifting. The focus is on subscription revenue, which made up 86 percent of total ARR as of September 30, 2025, at $1.158 billion. This shift implies a higher, but more predictable, cost for cloud infrastructure and customer success relative to the declining maintenance/professional services revenue, which was $62.7 million in Q3 2025.

The high cost of specialized cybersecurity talent is a constant pressure point, as evidenced by the company's focus on retaining key personnel post-acquisition. Furthermore, executive compensation policies were revised in May 2025, limiting certain benefits to 24 months' salary, which speaks to the ongoing management of high-value personnel costs.

Here are the key elements that define the ongoing cost profile:

• High S&M Ratio: 54 percent of FY 2024 operating expenses went to Sales and Marketing.
• Acquisition Costs: Significant cash outlay for Zilla Security in Q1 2025 (approx. $165 million) adds to the cost base.
• Cloud Infrastructure: Costs scale directly with the 57 percent year-over-year growth in Subscription ARR.
• Personnel & R&D: These are substantial, recurring costs, often masked by Non-GAAP adjustments like excluding share-based compensation expense.

Finance: draft the projected Q4 2025 operating expense breakdown based on the Q3 2025 margin by Friday.

CyberArk Software Ltd. (CYBR) - Canvas Business Model: Revenue Streams

The revenue streams for CyberArk Software Ltd. are heavily weighted toward a predictable, durable recurring revenue model. This shift is clearly reflected in the latest figures from the third quarter of 2025.

Subscription Revenue was a significant driver, hitting $280.1 million in Q3 2025, marking a substantial 60 percent increase year-over-year from $175.6 million in Q3 2024. This focus on subscriptions is the engine of durable growth for CyberArk Software Ltd. The recurring revenue model itself generated $326.3 million in Q3 2025, up 46 percent from the prior year period.

The other component of revenue, Maintenance, Professional Services, and Other Revenue, totaled $62.7 million for the third quarter of 2025. This compares to $64.5 million in the same quarter last year, showing a slight decrease as the business continues its transition away from non-recurring maintenance contracts.

Here's a quick look at the Annual Recurring Revenue (ARR) composition as of September 30, 2025:

Metric	Amount (as of Q3 2025)	Percentage of Total ARR
Total Annual Recurring Revenue (ARR)	$1.341 billion	100%
Subscription ARR	$1.158 billion	86%
Maintenance ARR	$183 million	Approximately 13.65%

The strong recurring revenue model provides predictable, durable growth, which is a key feature of the Business Model Canvas. This predictability helps in planning investments, such as those related to recent acquisitions like Zilla Security, which is expected to enhance identity governance capabilities.

A major opportunity for expanding these revenue streams lies in cross-selling new modules to the existing customer base, which stands at over 10,000+ customers. The focus areas for this expansion are directly tied to the evolving identity security landscape:

• Securing the proliferation of privilege across human identities.
• Capturing the exponential rise of machine identities.
• Addressing the emerging need to secure agentic AI.
• Expanding adoption of modules like Identity Governance and Administration (IGA).
• Driving adoption of specialized offerings like Machine Identity solutions.

Finance: draft 13-week cash view by Friday.