Why Shares of CyberArk Software Tumbled Today

Shares of cybersecurity company CyberArk Software (NASDAQ: CYBR) slumped on Friday following the release of preliminary second-quarter results. Both revenue and earnings are now expected to come in below previous guidance, with the shortfall driven by the company's failure to close certain deals on time. CyberArk stock was down 17% at 12:15 p.m. EDT.

CyberArk now expects to report second-quarter revenue between $57.0 million and $57.5 million, below the company's previous guidance of $61.0 million to $62.0 million. GAAP (generally accepted accounting principles) operating income is expected to be between $0.7 million and $1.1 million, while non-GAAP operating income is expected between $8.5 million and $8.9 million. That's a major shortfall compared to previous non-GAAP operating income guidance, which called for a range of $10.9 million to $11.7 million.

Image source: CyberArk.

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Source: Fool.com