Exhibit 99.1

CyberArk Announces Record Fourth Quarter and Full Year 2018 Results

Fourth quarter total revenue of $109.1 million increases 36% year-over-year

Fourth quarter GAAP operating income of $27.5 million and non-GAAP operating income of $39.8 million

Full year total revenue of $343.2 million increases 31% year-over-year

Full year GAAP operating income of $47.3 million and non-GAAP operating income of $90.5 million

Full year net cash provided by operating activities of $130.1 million increases 61% year-over-year

Newton, Mass. and Petach Tikva, Israel – February 14, 2019 – CyberArk, (NASDAQ: CYBR), the global leader in privileged access security, today announced record financial results for the fourth quarter and year ended December 31, 2018.

“Our record fourth quarter results capped off a tremendous year for CyberArk,” said Udi Mokady, CyberArk Chairman and CEO. “We delivered record results across all operating metrics including revenue, GAAP and Non-GAAP operating income and net income, as well as cash flow from operations and new customer additions. We were pleased to accelerate revenue growth across the Americas, EMEA and APJ, which demonstrates our strong execution, commitment to innovation, and the robust market fundamentals. As the recognized leader in privileged access security, we enter 2019 with strong momentum and are well positioned to deliver sustainable growth and profitability.”

Financial Highlights for the Fourth Quarter Ended December 31, 2018

Revenue:

Total revenue was $109.1 million, up 36% compared with the fourth quarter of 2017.

License revenue was $66.8 million, up 38% compared with the fourth quarter of 2017.

Maintenance and Professional Services revenue was $42.3 million, up 33% compared with the fourth quarter of 2017.

Operating Income:

GAAP operating income was $27.5 million, compared to $11.6 million in the fourth quarter of 2017. Non-GAAP operating income was $39.8 million, compared to $19.7 million in the fourth quarter of 2017.

Net Income:

GAAP net income was $24.2 million, or $0.64 per diluted share, compared to GAAP net income of $3.6 million, or $0.10 per diluted share, in the fourth quarter of 2017. Non-GAAP net income was $33.4 million, or $0.89 per diluted share, compared to $15.0 million, or $0.41 per diluted share, in the fourth quarter of 2017.

Financial Highlights for the Full Year Ended December 31, 2018

Revenue:

Total revenue was $343.2 million, up 31% compared with 2017.

License revenue was $192.5 million, up 30% compared with 2017.

Maintenance and Professional Services revenue was $150.7 million, up 32% compared with 2017.

Operating Income:

GAAP operating income was $47.3 million, compared to $20.3 million in 2017. Non-GAAP operating income was $90.5 million, compared to $51.9 million in 2017.

Net Income:

GAAP net income was $47.1 million, or $1.27 per diluted share, compared to GAAP net income of $16.0 million, or $0.44 per diluted share, in 2017. Non-GAAP net income was $76.5 million, or $2.06 per diluted share, compared to $41.9 million, or $1.16 per diluted share, in 2017.

The tables at the end of this press release include a reconciliation of GAAP to non-GAAP gross profit, operating income and net income for the three and twelve months ended December 31, 2018 and 2017. An explanation of these measures is also included below under the heading “Non-GAAP Financial measures.”

Balance Sheet and Cash Flow From Operations:

As of December 31, 2018, CyberArk had $451.2 million in cash, cash equivalents, marketable securities and short-term deposits. This compares with $410.0 million in cash, cash equivalents, marketable securities and short-term deposits as of September 30, 2018 and $330.3 million as of December 31, 2017.

As of December 31, 2018, total deferred revenue was $149.5 million, a 42% increase from $105.2 million at December 31, 2017.

During 2018, the Company generated $130.1 million in net cash provided by operating activities, a 61% increase compared to $80.7 million in 2017.

Business Outlook

Based on information available as of February 14, 2019, CyberArk is issuing guidance for the first quarter and full year 2019 as indicated below.

First Quarter 2019:

Total revenue is expected to be in the range of $91.0 million to $93.0 million, which represents 27% to 30% year-over-year growth.

Non-GAAP operating income is expected to be in the range of $18.5 million to $20.0 million.

Non-GAAP net income per share is expected to be in the range of $0.39 to $0.42 per share. This assumes 38.2 million weighted average diluted shares.

Full Year 2019:

Total revenue is expected to be in the range of $411.0 million to $415.0 million, which represents 20% to 21% year-over-year growth.

Non-GAAP operating income is expected to be in the range of $92.5 million to $95.5 million.

Non-GAAP net income per share is expected to be in the range of $1.94 to $2.00 per share. This assumes 38.5 million weighted average diluted shares.

Conference Call Information

In conjunction with this announcement, CyberArk will host a conference call on Thursday, February 14, 2019 at 8:30 a.m. Eastern Time (ET) to discuss the company’s fourth quarter and year end financial results and its business outlook. To access this call, dial +1 866-393-4306 (U.S.) or +1 561-569-9206 (international). The conference ID is 1675647. Additionally, a live webcast of the conference call will be available via the “Investor Relations” section of the company’s website at www.cyberark.com.

Following the conference call, a replay will be available for one week at +1 855-859-2056 (U.S.) or +1 404-537-3406 (international). The replay pass code is 1675647. An archived webcast of the conference call will also be available in the “Investor Relations” section of the company’s web site at www.cyberark.com.

About CyberArk

CyberArk (NASDAQ: CYBR) is the global leader in privileged access security, a critical layer of IT security to protect data, infrastructure and assets across the enterprise, in the cloud and throughout the DevOps pipeline. CyberArk delivers the industry’s most complete solution to reduce risk created by privileged credentials and secrets. The company is trusted by the world’s leading organizations, including more than 50 percent of the Fortune 100, to protect against external attackers and malicious insiders. A global company, CyberArk is headquartered in Petach Tikva, Israel, with U.S. headquarters located in Newton, Mass. The company also has offices throughout the Americas, EMEA, Asia Pacific and Japan. To learn more about CyberArk, visit www.cyberark.com, read the CyberArk blogs or follow on Twitter via @CyberArk, LinkedIn or Facebook.

Non-GAAP Financial Measures

CyberArk believes that the use of non-GAAP gross profit, non-GAAP operating income and non-GAAP net income is helpful to our investors. These financial measures are not measures of the Company’s financial performance under U.S. GAAP and should not be considered as alternatives to gross profit, operating income or net income or any other performance measures derived in accordance with GAAP.

Non-GAAP gross profit is calculated as gross profit excluding share-based compensation expense and amortization of intangible assets related to acquisitions.

Non-GAAP operating income is calculated as operating income excluding share-based compensation expense, acquisition related expenses, facility exit and transitions costs and amortization of intangible assets related to acquisitions.

Non-GAAP net income is calculated as net income excluding share-based compensation expense, acquisition related expenses, facility exit and transitions costs, amortization of intangible assets related to acquisitions, intra-entity intellectual property transfer tax effects, changes in the US federal tax rate and the tax effect of the other non-GAAP adjustments.

The Company believes that providing non-GAAP financial measures that exclude share-based compensation, acquisition related expenses, amortization of intangible assets related to acquisitions, facility exit and transitions costs, intra-entity intellectual property transfer tax effects, changes in the US federal tax rate and the tax effect of the non-GAAP adjustments allows for more meaningful comparisons of its period to period operating results. Share-based compensation expense has been and will continue to be for the foreseeable future, a significant recurring expense in the Company’s business and an important part of the compensation provided to its employees. Share based compensation expense has varying available valuation methodologies, subjective assumptions and a variety of equity instruments that can impact a company’s non-cash expense. The Company believes that expenses related to its acquisitions and amortization of intangible assets related to acquisitions, facility exit and transitions costs, intra-entity intellectual property transfer tax effects and changes in the US federal tax rate do not reflect the performance of its core business and impact period-to-period comparability.

Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies in the industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. In addition, there are limitations in using non-GAAP financial measures as they exclude expenses that may have a material impact on the Company’s reported financial results. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP. CyberArk urges investors to review the reconciliation of its non-GAAP financial measures to the comparable U.S. GAAP financial measures included below, and not to rely on any single financial measure to evaluate its business.

Guidance for non-GAAP financial measures excludes, as applicable, share-based compensation expense, acquisition related expenses, facility exit and transitions costs, and amortization of intangible assets related to acquisitions. A reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures is not available on a forward-looking basis due to the uncertainty regarding, and the potential variability and significance of, the amounts of share-based compensation expense, amortization of intangible assets related to acquisitions, and the non-recurring expenses that are excluded from the guidance. Accordingly, a reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures for future periods is not available without unreasonable effort.

Cautionary Language Concerning Forward-Looking Statements

This release contains forward-looking statements, which express the current beliefs and expectations of CyberArk’s (the “Company”) management. In some cases, forward-looking statements may be identified by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential” or the negative of these terms or other similar expressions. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company’s future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: changes in the rapidly evolving cyber threat landscape; failure to effectively manage growth; near-term declines in our operating and net profit margins and our revenue growth rate; real or perceived shortcomings, defects or vulnerabilities in the Company’s solutions or internal network system, or the failure of the Company’s customers or channel partners to correctly implement the Company’s solutions; fluctuations in quarterly results of operations; the inability to acquire new customers or sell additional products and services to existing customers; competition from IT security vendors; the Company’s ability to successfully integrate recent and or future acquisitions; and other factors discussed under the heading “Risk Factors” in the Company’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

###

Investor Contact:

Erica Smith

CyberArk

617-558-2132

ir@cyberark.com

Media Contact:

Liz Campbell

CyberArk

617-558-2191

press@cyberark.com

CYBERARK SOFTWARE LTD.

Consolidated Statements of Operations

U.S. dollars in thousands (except per share data)

(Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2017			2018			2017			2018

Revenues:
License	$	48,552		$	66,769		$	147,640		$	192,514
Maintenance and professional services		31,816			42,281			114,061			150,685

Total revenues		80,368			109,050			261,701			343,199

Cost of revenues:
License		2,259			3,005			7,911			10,526
Maintenance and professional services		9,360			10,316			33,937			37,935

Total cost of revenues		11,619			13,321			41,848			48,461

Gross profit		68,749			95,729			219,853			294,738

Operating expenses:
Research and development		12,245			15,340			42,389			57,112
Sales and marketing		36,684			40,307			126,739			148,290
General and administrative		8,185			12,561			30,399			42,044

Total operating expenses		57,114			68,208			199,527			247,446

Operating income		11,635			27,521			20,326			47,292

Financial income, net		1,612			1,078			4,103			4,551

Income before taxes on income		13,247			28,599			24,429			51,843

Taxes on income		(9,695	)		(4,419	)		(8,414	)		(4,771	)

Net income	$	3,552		$	24,180		$	16,015		$	47,072

Basic net income per ordinary share	$	0.10		$	0.66		$	0.46		$	1.30
Diluted net income per ordinary share	$	0.10		$	0.64		$	0.44		$	1.27

Shares used in computing net income
per ordinary shares, basic		35,182,870			36,570,609			34,824,312			36,174,316
Shares used in computing net income
per ordinary shares, diluted		36,296,609			37,607,625			36,175,824			37,065,727

Share-based Compensation Expense:

	Three Months Ended				Twelve Months Ended
	December 31,				December 31,
	2017		2018		2017		2018

Cost of revenues	$	631	$	980	$	2,289	$	3,350
Research and development		1,503		2,174		6,110		7,922
Sales and marketing		2,494		3,647		8,642		12,708
General and administrative		1,966		3,493		8,196		11,984

Total share-based compensation expense	$	6,594	$	10,294	$	25,237	$	35,964

CYBERARK SOFTWARE LTD.

Consolidated Balance Sheets

U.S. dollars in thousands

(Unaudited)

	December 31,		December 31,
	2017		2018

ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$	161,261	$	260,636
Short-term bank deposits		107,647		106,399
Marketable securities		34,025		59,948
Trade receivables		45,315		48,431
Prepaid expenses and other current assets		7,407		6,349

Total current assets		355,655		481,763

LONG-TERM ASSETS:
Property and equipment, net		9,230		15,120
Intangible assets, net		15,664		14,732
Goodwill		69,217		82,400
Marketable securities		27,407		24,261
Other long-term assets		6,060		31,863
Deferred tax asset		19,343		23,481

Total long-term assets		146,921		191,857

TOTAL ASSETS	$	502,576	$	673,620

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Trade payables	$	1,960	$	4,924
Employees and payroll accruals		25,253		32,853
Accrued expenses and other current liabilities		10,209		13,271
Deferred revenues		66,986		92,375

Total current liabilities		104,408		143,423

LONG-TERM LIABILITIES:
Deferred revenues		38,249		57,159
Other long-term liabilities		5,954		6,268

Total long-term liabilities		44,203		63,427

TOTAL LIABILITIES		148,611		206,850

SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.01 par value		91		95
Additional paid-in capital		249,874		303,900
Accumulated other comprehensive income (loss)		107		(939	)
Retained earnings		103,893		163,714

Total shareholders' equity		353,965		466,770

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	502,576	$	673,620

CYBERARK SOFTWARE LTD.

Consolidated Statements of Cash Flows

U.S. dollars in thousands

(Unaudited)

	Twelve Months Ended
	December 31,
	2017			2018

Cash flows from operating activities:
Net income	$	16,015		$	47,072
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization		7,856			10,078
Amortization of premium, net of accretion of discount on marketable securities		382			293
Share-based compensation expenses		25,237			35,964
Deferred income taxes, net		5,856			(7,056	)
Increase in trade receivables		(11,631	)		(3,116	)
Increase in prepaid expenses and other current and long-term assets		(3,638	)		(11,893	)
Increase (decrease) in trade payables		(1,288	)		1,955
Increase in short term and long term deferred revenues		31,729			47,818
Increase in employees and payroll accruals		6,316			6,896
Increase in accrued expenses and other
current and long-term liabilities		3,903			2,114

Net cash provided by operating activities		80,737			130,125

Cash flows from investing activities:
Proceeds (Investment) in short and long term deposits		(20,661	)		1,600
Investment in marketable securities		(43,604	)		(61,118	)
Proceeds from maturities of marketable securities		17,355			37,838
Purchase of property and equipment		(6,757	)		(8,613	)
Payments for business acquisitions, net of cash acquired		(41,329	)		(18,450	)

Net cash used in investing activities		(94,996	)		(48,743	)

Cash flows from financing activities:
Proceeds from exercise of stock options		2,624			17,980

Net cash provided by financing activities		2,624			17,980

Increase (decrease) in cash, cash equivalents and restricted cash		(11,635	)		99,362

Cash, cash equivalents and restricted cash at the beginning of the period	$	174,156		$	162,521

Cash, cash equivalents and restricted cash at the end of the period	$	162,521		$	261,883


CYBERARK SOFTWARE LTD.
Reconciliation of GAAP Measures to Non-GAAP Measures
U.S. dollars in thousands (except per share data)
(Unaudited)

Reconciliation of Gross Profit to Non-GAAP Gross Profit:

	Three Months Ended				Twelve Months Ended
	December 31,				December 31,
	2017		2018		2017		2018

Gross profit	$	68,749	$	95,729	$	219,853	$	294,738
Plus:
Share-based compensation - Maintenance & professional services		631		980		2,289		3,350
Amortization of intangible assets - License		1,183		1,445		4,213		5,563

Non-GAAP gross profit	$	70,563	$	98,154	$	226,355	$	303,651

Reconciliation of Operating Income to Non-GAAP Operating Income:

	Three Months Ended				Twelve Months Ended
	December 31,				December 31,
	2017		2018		2017		2018

Operating income	$	11,635	$	27,521	$	20,326	$	47,292
Plus:
Share-based compensation		6,594		10,294		25,237		35,964
Amortization of intangible assets - Cost of revenues		1,183		1,445		4,213		5,563
Amortization of intangible assets - Sales and marketing		262		198		1,046		793
Acquisition related expenses		-		-		686		268
Facility exit and transitions costs		-		327		342		580

Non-GAAP operating income	$	19,674	$	39,785	$	51,850	$	90,460

Reconciliation of Net Income to Non-GAAP Net Income:

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2017			2018			2017			2018

Net income	$	3,552		$	24,180		$	16,015		$	47,072
Plus:
Share-based compensation		6,594			10,294			25,237			35,964
Amortization of intangible assets - Cost of revenues		1,183			1,445			4,213			5,563
Amortization of intangible assets - Sales and marketing		262			198			1,046			793
Acquisition related expenses		-			-			686			268
Facility exit and transitions costs		-			327			342			580
Taxes on income related to non-GAAP adjustments		(3,180	)		(2,528	)		(12,226	)		(15,485	)
Change in the US federal tax rate		6,582			-			6,582			-
Intra-entity IP transfer tax effect, net		-			(475	)		-			1,768

Non-GAAP net income	$	14,993		$	33,441		$	41,895		$	76,523

Non-GAAP net income per share
Basic	$	0.43		$	0.91		$	1.20		$	2.12
Diluted	$	0.41		$	0.89		$	1.16		$	2.06

Weighted average number of shares
Basic		35,182,870			36,570,609			34,824,312			36,174,316
Diluted		36,296,609			37,607,625			36,175,824			37,065,727