CYBR

What You Should Know

CyberArk Software is a leading identity security platform, with deep expertise in privileged access management (PAM), secrets management for machines and applications, workforce access, customer identity, and increasingly identity governance following the 2024 Venafi acquisition. The customer base includes a majority of Fortune 500 enterprises across all sectors. Identity security and cybersecurity software are unambiguously permissible. CyberArk operates with modest convertible debt, strong gross margins, and a SaaS-heavy revenue model that generates meaningful free cash flow. Financial ratios pass every standard Sharia screen with comfortable margin at most major boards. The customer mix is broad enterprise — banks and insurers are among the largest customers, but CyberArk sells software not financial services, so the indirect customer mix does not change the screen.