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 | Getty Images
CrowdStrike Shares rose as much as 21% in after-hours trading Tuesday, after the cybersecurity company reported improved top-line and earnings, as well as gave stronger-than-expected guidance for the next quarter and full year.
Here’s how the company performed relative to consensus estimates based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earning per share: 95 cents adjusted versus 82 cents expected
- Income: $845 million versus the $839 million expected
For the period ended Jan. 31, CrowdStrike reported net income of $54 million, or 22 cents per share, compared to a loss of $48 million, or a loss of 20 cents per share, in the one-year period does.
CrowdStrike has now reported GAAP net income for the past four quarters, Chief Financial Officer Burt Podbere said in the earnings release. Full-year revenue increased 36% year-over-year, from $2.24 billion to $3 billion.
The company also announced that it will acquire Flow Security for an undisclosed price in a cash and stock deal, expected to close in the company’s first fiscal quarter. The company has ramped up its merger and acquisition activity in recent months.
“CrowdStrike is the preferred cybersecurity consolidator, the preferred innovator, and the preferred platform for stopping breaches,” co-founder and CEO George Kurtz said in a statement.
The company also reported fiscal first-quarter revenue of $902 million to $906 million, better than the consensus estimate of $899 million. CrowdStrike also expects earnings per share for the period of 89 cents to 90 cents, better than the consensus estimate of 82 cents.
Podbere also reiterated the company’s goal of reaching $10 billion in annual recurring revenue by 2030. The company reached $3.4 billion in annual recurring revenue in January.
Don’t miss these stories from CNBC PRO: