NEWTON, Mass. & PETACH TIKVA, Israel - CyberArk (NASDAQ: CYBR), a company specializing in identity security, has announced its annual conference, CyberArk IMPACT 24, scheduled for May 20-22 at the JW Marriott Nashville. The event, which is the largest of its kind for customers and partners, will focus on safeguarding identities within IT environments.
The conference comes at a time when over 90% of organizations have reportedly faced at least one identity-related security breach in the past year. The IMPACT 24 conference aims to address the challenges security teams face due to evolving threats and provide them with strategies to protect against identity-based cyber threats.
The event will feature a keynote speech from CyberArk CEO Matt Cohen, and presentations from notable figures such as Nick Krieble of IHG, a CISO from a globally-renowned consumer goods organization, Ken Beer from AWS Key Management Service, and media personality Kara Swisher. A main stage Q&A will also be held with Robert Herjavec of Cyderes and ABC's Shark Tank, alongside Udi Mokady, CyberArk's founder and executive chairman.
Additionally, the conference will highlight threat research by Lavi Lazarovitz, CyberArk's vice-president of Cyber Research, and include experiences shared by customers like ExxonMobil (NYSE:XOM) and S&P Global. Over 40 breakout sessions are planned to delve into specific security challenges and solutions, along with hands-on labs that offer CPE credits.
Attendees will also get an exclusive preview of CyberArk's new solutions, product capabilities, and future enhancements roadmap. The event is supported by premier sponsor AWS, and Marquis sponsors including Accenture (NYSE:ACN), Deloitte, KPMG, and PWC.
Following IMPACT 24, the CyberArk World Tour will continue the conversation on identity security in over 20 cities worldwide, featuring localized content and sessions.
This article is based on a press release statement from CyberArk.
InvestingPro Insights
As CyberArk (NASDAQ: CYBR) gears up for its annual IMPACT 24 conference, the company's financial position and market performance provide a pertinent backdrop for stakeholders and investors alike. According to InvestingPro data, CyberArk holds a market capitalization of $9.77 billion, reflecting the significant scale of the business in the cybersecurity sector. The company's revenue growth has been robust, with a 29.7% increase over the last twelve months as of Q1 2024, and an even higher quarterly revenue growth rate of 37.01% for Q1 2024. This growth underscores the increasing demand for identity security solutions and CyberArk's expanding market presence.
Moreover, CyberArk has demonstrated impressive gross profit margins, reported at 80.23% over the last twelve months as of Q1 2024. This figure not only highlights the company's ability to efficiently manage its cost of goods sold but also its potential for profitability as it scales operations. Despite not being profitable over the last twelve months, with a negative operating income margin of -9.2%, analysts are optimistic, as evidenced by 21 analysts revising their earnings upwards for the upcoming period and predicting that the company will be profitable this year.
Investors considering CyberArk's stock will find InvestingPro Tips particularly insightful. One tip indicates that CyberArk holds more cash than debt on its balance sheet, which may provide a cushion against market volatility and enable continued investment in innovation and growth. Another tip highlights that the company has experienced a high return over the last year, with a 72.52% increase in price total return, suggesting a strong investor confidence in CyberArk's market position and future prospects.
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