TMN - Crowdstrike

Crowdstrike stocks soar on upbeat earnings result

Shares of Crowdstrike Holdings Inc. rallied on Wednesday’s extended trading as the company outpaced fiscal fourth-quarter top and bottom-line estimates.

The American cybersecurity firm hiked 13.39% or 22.73 points to $192.52 per share. It followed the gain of 8.31% or 13.02 points to $169.79 per share as the market closed.

Correspondingly, this movement added $5.23 billion to the company’s market capitalization.

In its latest financial release, Crowdstrike announced revenue of $431.01 million. This record came in higher than the average market expectation of $410.97 million.

Consequently, it represented a 63.00% increase compared to the $264.90 million in the same period of fiscal 2021.

Then, Subscription revenue elevated 66.00% to $405.40 million, compared to $244.70 million a year earlier.

Notably, Crowdstrike hit a record net new annual recurring revenue of $217.00 million in the quarter.

The figure accelerated 65.00% year-over-year, sending the firm to a total ARR of $1.73 billion as of January 31.

Eventually, the full-year revenue edged up 66.00% to $1.45 billion the previous year.

Then, subscription revenue climbed 69.00% to $1.36 billion, beyond the previous number of $804.7 million.

In addition, earnings per share came in at $0.30, surpassing the analysts’ consensus of $0.20. It also jumped from the $0.13 per share last year.

Moreover, GAAP loss from operations ballooned to $23.50 million, compared to the past $15.80 million result.

Subsequently, its Non-GAAP income from operations was $80.40 million, higher than the $34.40 million in Q4 2021.

Then, the milestone quarter added 1,638 net new subscription customers in the quarter,  representing 65.00% growth YoY.

In line with this, Crowdstrike now stands with a total of 16,325 subscription customers as of January.

Crowdstrike provides a strong outlook

Furthermore, Crowdstrike also offered strong guidance for the fiscal first quarter and full-year earnings.

The firm sees Q1 revenue between $458.90 and $465.40 million. In the stated case, it forecasted adjusted earnings per share for the quarter in a range of $0.22 to $0.24.

For the full year, the company projected revenue from $2.13 billion to $2.16 billion. Its expected adjusted EPS is between $1.03 and $1.13.

Crowdstrike also announced the general availability of the Falcon XDR module. Eventually, it introduced Falcon Identity Threat Protection Complete.

This function will bring together identity threat prevention and IT policy enforcement.

Prior to the extended trading, Crowdstrike traded 14.39% or 28.54 points lower year-to-date.

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