Strong Q1 Performance: CyberArk reported a total Annual Recurring Revenue (ARR) of $1.215 billion, a revenue of $318 million, and an operating margin of 18%. Net new ARR grew to $46 million, up from $37 million year-over-year, showcasing the company's resilient demand in the identity security market.

Market Demand for Identity Security: CyberArk highlights a strengthening imperative for identity security, asserting that it is now a non-discretionary investment for organizations due to the increasing frequency and sophistication of identity-related breaches. Over 90% of organizations are reportedly experiencing such breaches, indicating a robust demand for CyberArk's solutions.

Operational Growth Despite Macro Challenges: Despite macroeconomic uncertainties, CyberArk did not report any negative impacts on its business performance in Q1. However, to remain prudent, the company has embedded a conservative approach in its financial guidance for the year amid broader macro volatility.