CyberArk is an identity security software company. Its core product is Privileged Access Management (PAM), which controls and monitors access to high-risk accounts — IT administrators, cloud environments, and critical infrastructure. CyberArk has built a broader platform around PAM that now covers four identity groups: workforce users (employees accessing SaaS apps), IT professionals, developers, and machine identities (applications, bots, APIs, and certificates). The machine identity category is CyberArk's fastest-growing area, anchored by its Secrets Management products and the recently acquired Venafi, which manages certificate lifecycles at scale. CyberArk also acquired Zilla Security in early 2025 to add Identity Governance and Administration (IGA) capabilities for managing SaaS application access. CyberArk sells primarily to large enterprises and government agencies, with over 9,700 customers across financial services, healthcare, energy, and other regulated industries. About 19% of revenue comes from direct sales, with the remainder through a network of over 1,500 channel partners. CyberArk has completed a transition from perpetual licenses to a subscription model — subscriptions represent roughly 77% of revenue, with SaaS increasingly dominating new bookings. Revenue is recognized ratably over the contract term, improving long-term visibility. The core growth motion is "land and expand": land a customer with PAM, then cross-sell Secrets Management, Workforce, or other solutions over time. Roughly half of new logos land with two or more solutions, and CyberArk's large installed base represents a significant upsell opportunity.