George Kurtz, co-founder and CEO of CrowdStrike, during a Bloomberg Technology television interview at the RSA Conference in San Francisco on April 26, 2023.
David Paul Morris | Bloomberg | beautiful images
The crowd went on strike shares jumped as much as 21% in after-hours trading Tuesday after the cybersecurity company reported outperformed its sales and earnings results and provided stronger-than-expected guidance for the quarter and full year ahead.
Here’s how the company performed compared to consensus estimates based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earnings per share: 95 cents revised versus 82 cents expected
- Revenue: $845 million vs. $839 million expected
For the period ended Jan. 31, CrowdStrike had net income of $54 million, or 22 cents per share, from a loss of $48 million, or a loss of 20 cents per share, in the same period last year.
CrowdStrike has now reported GAAP net income for the past four quarters, Chief Financial Officer Burt Podbere said. Full-year revenue increased 36% over the previous year, from 2.24 billion USD to 3 billion USD.
The company also announced it will acquire Flow Security for an undisclosed price in a cash and stock deal, expected to close in the company’s fiscal first quarter. The company has stepped up merger and acquisition activity in recent months.
“CrowdStrike is the unifier of choice, the innovators of choice, and the platform of choice to prevent breaches in cybersecurity,” said co-founder and CEO George Kurtz.
The company also forecast fiscal first-quarter revenue of $902 million to $906 million, better than the consensus estimate of $899 million. CrowdStrike also expects earnings per share in the range of 89 cents to 90 cents, better than the consensus estimate of 82 cents.
Podbere also reiterated the company’s focus on achieving $10 billion in annual recurring revenue by 2030. The company reached $3.4 billion in annual recurring revenue in January.
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