CyberArk Publishes Fourth Annual Environmental, Social and Governance Report
July 01 2024 - 6:05AM
Business Wire
Report Highlights Accomplishments of CyberArk’s
Continued Efforts To Build a Diverse, Equitable and Sustainable
Organization
CyberArk (NASDAQ: CYBR), the identity security company, today
announced the release of its latest Environmental, Social and
Governance (ESG) report. CyberArk’s approach to ESG is grounded in
its commitment to its people, core values, communities and
environmental stewardship.
The report details the company’s sustainability program
milestones, including its progress enhancing initiatives across its
core focus areas: Governance, Ethics and Compliance; Cybersecurity
and Data Privacy; Culture and Talent; Communities; and
Environment.
“We continue to make progress on our mission to secure the world
against cyber threats so together we can move fearlessly forward.
As the leader in identity security, the cornerstone of our business
is helping ensure our customers are secure and as a result their
operations are more sustainable. We believe that one of the keys to
our success is CyberArk’s culture and core values, which are
central forces in our operating rhythm, strategic planning and
decision making,” said Matt Cohen, CEO, CyberArk. “We are proud of
our progress in advancing our ESG priorities and creating
sustainable, long-term value for our stakeholders.”
Highlights from the report include:
- Cybersecurity and Data Privacy: Eight of our
software-as-a-service (“SaaS”) services received SOC 2 Type 2 and
SOC 3 certifications.
- Corporate Security: Enhanced our risk management process
by implementing a new risk management system that supports
continual risk assessments.
- Ethics and Compliance: Launched a new Code of Conduct
e-Learning course to all existing employees and exceeded our 90
percent completion rate target within three months.
- Governance: Appointed Mary Yang to the Board of
Directors, highlighting our commitment to add a new member to the
Board of Directors at least once every five years to ensure
independence as well as inclusion of diverse backgrounds, skills
and experiences and perspectives that are essential for effective
oversight.
- Culture and Talent: Increased our employee engagement
score to 86 percent, well above the industry benchmark of 76
percent.
- Environment: Obtained independent, third-party
verification of our Scope 1 and Scope 2 greenhouse gas emissions
(to a limited level of assurance), which we plan to use as a
starting point to explore ways to further reduce our environmental
impact.
To view the full report, please visit
https://www.cyberark.com/company/esg/.
About CyberArk CyberArk (NASDAQ: CYBR) is the global
leader in identity security. Centered on intelligent privilege
controls, CyberArk provides the most comprehensive security
offering for any identity – human or machine – across business
applications, distributed workforces, hybrid cloud environments and
throughout the DevOps lifecycle. The world’s leading organizations
trust CyberArk to help secure their most critical assets. To learn
more about CyberArk, visit https://www.cyberark.com, read the
CyberArk blogs or follow on LinkedIn, X, Facebook or YouTube.
Cautionary Language Concerning Forward-Looking Statements
This release contains forward-looking statements, which express the
current beliefs and expectations of our management. In some cases,
forward-looking statements may be identified by terminology such as
“believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,”
“should,” “plan,” “expect,” “predict,” “potential” or the negative
of these terms or other similar expressions. Such statements
involve a number of known and unknown risks and uncertainties that
could cause our future results, levels of activity, performance or
achievements to differ materially from the results, levels of
activity, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating, but not
limited to: risks related to the proposed acquisition of Venafi
Holdings, Inc.; changes to the drivers of our growth and our
ability to adapt our solutions to the information security market
changes and demands, including artificial intelligence (“AI”); our
ability to acquire new customers and maintain and expand our
revenues from existing customers; intense competition within the
information security market; real or perceived security
vulnerabilities, gaps, or cybersecurity breaches of our, or our
customers’ or partners’ systems, solutions or services; risks
related to our compliance with privacy, data protection and AI laws
and regulations; our ability to successfully operate our business
as a subscription company and fluctuation in the quarterly results
of operations; our reliance on third-party cloud providers for our
operations and SaaS solutions; our ability to hire, train, retain
and motivate qualified personnel; our ability to effectively
execute our sales and marketing strategies; our ability to find,
complete, fully integrate or achieve the expected benefits of
additional strategic acquisitions; our ability to maintain
successful relationships with channel partners, or if our channel
partners fail to perform; risks related to sales made to government
entities; prolonged economic uncertainties or downturns; our
history of incurring net losses, our ability to generate sufficient
revenue to achieve and sustain profitability and our ability to
generate cash flow from operating activities; regulatory and
geopolitical risks associated with our global sales and operations;
risks related to intellectual property claims; fluctuations in
currency exchange rates; the ability of our products to help
customers achieve and maintain compliance with government
regulations or industry standards; our ability to protect our
proprietary technology and intellectual property rights; risks
related to using third-party software, such as open-source
software; risks related to stock price volatility or activist
shareholders; any failure to retain our “foreign private issuer”
status or the risk that we may be classified, for U.S. federal
income tax purposes, as a “passive foreign investment company”;
risks related to our Convertible Senior Notes due 2024 (the
“Convertible Notes), including the potential dilution to existing
shareholders and our ability to raise the funds necessary to
repurchase our Convertible Notes; changes in tax laws; our
expectation to not pay dividends on our ordinary shares for the
foreseeable future; risks related to our incorporation and location
in Israel, including the ongoing war between Israel and Hamas and
conflict in the region; and other factors discussed under the
heading “Risk Factors” in our most recent annual report on Form
20-F filed with the Securities and Exchange Commission.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions contained in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made only as of the date hereof, and we undertake no obligation to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
Copyright © 2024 CyberArk Software. All Rights Reserved. All
other brand names, product names, or trademarks belong to their
respective holders.
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version on businesswire.com: https://www.businesswire.com/news/home/20240701802637/en/
Media Contact: Nick Bowman CyberArk +44 (0) 7841 673378
press@cyberark.com
Investor Relations: Srinivas Anantha, CFA CyberArk
617-558-2132 ir@cyberark.com
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