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CyberArk Announces Strong First Quarter 2021 Results investors.cyberark.com/press-releases/press-release-details/2021/CyberArk-Announces-Strong-First-Quarter 2021 - Results / May 05 , 2021 Total Revenue of $ 113 Million Subscription Revenue of $ 25 Million Increased 180 % Year - over - Year Strong Annual Recurring Revenue ( ARR ) of $ 288 Million Grew 41 % Year - over - Year Cash Flow Provided by Operating Activities of $ 34 Million NEWTON , Mass . & PETACH TIKVA , Israel -- ( BUSINESS WIRE ) -- CyberArk ( NASDAQ : CYBR ) , the global leader in Identity Security , today announced strong financial results for the first quarter ended March 31 , 2021 . " With our strong first quarter performance and accelerating business momentum , 2021 is off to a great start , " said Udi Mokady , CyberArk Chairman and CEO . " In early January , we formally kicked off our active transition to a recurring revenue model , and the execution of our strategy exceeded our expectations . We were thrilled with the faster than 40 percent growth in our Annual Recurring Revenue ( ARR ) , greater than 250 percent growth in ARR related to SaaS and on - premises subscription contracts , the 180 percent increase in subscription revenue , and that subscription revenue represented 22 percent of total revenue for the quarter . The robust demand environment , particularly for our SaaS solutions , and execution of our strategy is further demonstrated by the fact that we exceeded the high end of our revenue guidance while also having a greater than expected mix of subscription bookings of 51 percent in the first quarter . The strong start to the year positions us well to execute on our subscription transition timeline , accelerate growth across our identity security portfolio , deliver profitability and increase shareholder returns . " Financial Highlights for the First Quarter Ended March 31 , 2021 Revenue ( 1 ) : • Subscription revenue was $ 24.7 million in the first quarter of 2021 , up 180 percent year over year . Perpetual license revenue was $ 26.7 million in the first quarter of 2021 . • Maintenance and professional services revenue was $ 61.3 million in the first quarter of 2021 . • Total revenue was $ 112.8 million in the first quarter of 2021 . Operating Income ( Loss ) : GAAP operating loss was $ ( 15.3 ) million and Non - GAAP operating income was $ 5.4 million in the first quarter of 2021 . Net Income ( Loss ) : ● 1/19