+55%

est. 2Y upside i

Cybersecurity

Rank

#888

Sector

Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Low

The equity offer at Delinea carries significant uncertainty due to missing valuation inputs, but the company's strong market position in PAM and profitability suggest moderate upside.

Last updated: July 19, 2026

Bull (10%)+100%

IPO window reopens in next 2 years, driving multiple expansion to 9x forward revenue. Company capitalizes on category leadership and strong growth, reaching $6.75B exit.

Base (45%)+110%

Steady growth to $750M revenue; multiple converges to 7x, in line with public peers. Exit valuation of ~$5.25B, yielding 110% upside before dilution.

Bear (45%)-10%

Incumbent competition from CyberArk and Microsoft intensifies, compression to 3x forward revenue; exit at $2.25B, below current estimated value, resulting in -10% return.

Est. time to liquidity~2.5 years

Preference Stack Risk

moderate

Funding Intensity

6%

Total preferred stock is $153M, representing 6.1% of estimated $2.5B valuation, so common stock would still recover significantly in bear case.

Dilution Risk

low

Company is profitable and likely self-sustaining; no near-term funding needed.

Secondary Liquidity

none

No secondary market trades observed; liquidity only via IPO or acquisition.

Other — 1 role

View all 1 open roles at Centrify →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Centrify's data — designed to show you've done your homework.

  • 1

    “How does Delinea plan to differentiate from CyberArk's established platform?”

  • 2

    “What is the revenue growth breakdown between new logos and expansion?”

  • 3

    “How does the equity refresh policy work, and what is the targeted ownership retention?”

Community

Valuation Sentiment

Our model estimates +55% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.