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® CYBERARKⓇ Exhibit 99.1 CyberArk Announces Strong Third Quarter 2021 Results Total Revenue of $ 121.6 Million Subscription Bookings Mix Reaches 72 % Subscription Portion of Annual Recurring Revenue ( ARR ) of $ 139 Million with Growth Accelerating to 131 % Total ARR of $ 344 million with Growth Accelerating to 38 % Newton , Mass . and Petach Tikva , Israel – November 4 , 2021- CyberArk ( NASDAQ : CYBR ) , the global leader in Identity Security , today announced strong financial results for the third quarter ended September 30 , 2021 . " We had another amazing quarter as the momentum in our business continued to accelerate , ” said Udi Mokady , CyberArk Chairman and CEO . “ Great execution of our identity security strategy and subscription transformation , a robust demand environment , and strong industry tailwinds drove our results . We landed more than 230 marquee logos as enterprises move to secure all identities across human users , applications , containers and bots with our identity security platform . SaaS bookings led the way , reaching an all - time high and contributing to the largest ever sequential increase in the subscription portion of Annual Recurring Revenue ( ARR ) . Total revenue above the midpoint of our guidance range , even with the higher subscription mix , demonstrates that our bookings were ahead of our expectations for the third consecutive quarter , with Q3 bookings overperformance the best so far in 2021. Our tremendous results in the first nine months of 2021 give us confidence in the durability of our growth and as a result , we are increasing the bookings assumption underlying our guidance framework for the full year 2021. " Financial Summary for the Third Quarter Ended September 30 , 2021 • Subscription revenue was $ 35.3 million in the third quarter of 2021 , an increase of 143 percent from $ 14.5 million in the third quarter of 2020 . Maintenance and professional services revenue was $ 63.3 million in the third quarter of 2021 , an increase of 7 percent from $ 58.9 million in the third quarter of 2020 . Total revenue was $ 121.6 million in the third quarter of 2021 , up 14 percent from $ 106.6 million in the third quarter of 2020 . GAAP operating loss was $ ( 27.7 ) million and non - GAAP operating income was $ 0.1 million in the third quarter of 2021 . GAAP net loss was $ ( 29.1 ) million , or $ ( 0.73 ) per basic and diluted share , in the third quarter of 2021. Non - GAAP net loss was $ ( 2.4 ) million , or $ ( 0.06 ) per basic and diluted share , in the third quarter of 2021 . Balance Sheet and Net Cash Provided by Operating Activities • As of September 30 , 2021 , CyberArk had $ 1.2 billion in cash , cash equivalents , marketable securities , and short - term deposits . During the nine months ended September 30 , 2021 , the Company generated $ 54.3 million in net cash provided by operating activities , compared to $ 67.8 million in the first nine months of 2020 . As of September 30 , 2021 , total deferred revenue was $ 280.9 million , a 23 percent increase from $ 227.6 million at September 30 , 2020 .