Chonorsphere, CyberArk Stand Out in Palo Alto's 3Q Print
Dow Jones
6 hours ago
1541 ET - Chronosphere and CyberArk, two companies Palo Alto Networks acquired in recent multi-billion-dollar deals, were standouts in the company's third-quarter print, JPMorgan analysts write in a note. Chronosphere ended the quarter with $500 million in annual recurring revenue, and the company's commentary suggests the move of one frontier AI lab from another from a competitor to Palo Alto added $100 million in incremental ARR, the analysts write. Palo Alto's Idira business, which includes CyberArk, had revenue synergies drive 27% growth in annual contract value. Joint go-to-market efforts between Palo Alto and CyberArk generated more than 200 net new logos from upwards of 400 shared leads, the analysts note.
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