Cyberark topped forecasts for the second quarter of 2020: lost $ 4 million

Cyberark topped forecasts for the second quarter of 2020, but provided a lower forecast than market forecasts for the third quarter of the year. Cyberark lost $ 4 million, which is 11 cents per share, in the second quarter of 2020 based on US GAAP. Compared to a profit of $ 13 million in the corresponding quarter in 2019 and a profit of $ 2.4 million in the first quarter of 2020.
The company, which protects critical information in organizations by managing sensitive information permissions, earned $ 17 million, which is 42 cents a share, in the second quarter of 2020 on a non-GAAP basis, meaning neutralizing expenses related to allocating options to executives and employees and reducing intangible assets and expenses for acquiring Idaptive from California in May. 2020. Cyberark, managed by Udi Mokdi, thus surpassed analysts' average earnings forecasts of 27 cents per share.
Cyberark's gross profit based on US GAAP increased by 1.3% in the second quarter of 2020, compared to the same period in 2019, but decreased by 4% compared to the first quarter of 2020 - and amounted to $ 86 million , Which are 80.9% of turnover compared to 84.8% of turnover in parallel in 2019 and 84% of turnover in the first quarter of 2020.
Cyberark posted an operating loss of $ 5 million in the second quarter of 2020, compared to an operating profit of $ 13 million in the same quarter in 2019 and an operating profit of $ 2.6 million in the first quarter of 2020.