CrowdStrike, the cybersecurity firm, has reported a surge in its shares following a strong beat on the top and bottom lines, as well as better-than-expected guidance for the upcoming quarter and full year. The company’s stock surged by 21% in after-hours trading after it reported earnings per share of 95 cents, adjusted, compared to the expected 82 cents, and revenue of $845 million, exceeding the expected $839 million.
The company also saw a net income of $54 million for the period ending Jan. 31, a significant improvement from the $48 million loss in the year-ago period. This marks the fourth consecutive quarter in which CrowdStrike has reported GAAP net income.
Furthermore, CrowdStrike announced its acquisition of Flow Security in a cash-and-stock deal, reinforcing its recent M&A activity. The company’s CFO, Burt Podbere, emphasized CrowdStrike’s commitment to achieving $10 billion in annual recurring revenue by 2030, with the company reaching $3.4 billion in ARR in January.
Looking ahead, CrowdStrike expects fiscal first-quarter revenues between $902 million and $906 million, with an EPS projection of 89 to 90 cents, surpassing consensus estimates. CEO George Kurtz highlighted CrowdStrike’s position as the cybersecurity industry’s consolidator, innovator, and platform of choice to prevent breaches.
