CrowdStrike Holdings Inc. topped expectations with its results and outlook for the latest quarter, but shares of the cybersecurity company dipped in Wednesday’s aftermarket activity.
The company posted fiscal second-quarter net income of $8.48 million, or 3 cents a share, whereas it logged a loss of $49.3 million, or 21 cents a share, in the year-earlier period.
On an adjusted basis, CrowdStrike
CRWD,
earned 74 cents a share, compared with 36 cents a share a year before. The FactSet consensus was for 56 cents a share.
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Revenue increased to $731.6 million from $535.2 million, while analysts were projecting $724.2 million. Subscription revenue came in at $690.0 million.
CrowdStrike reported annual recurring revenue of $2.93 billion. roughly in line with the FactSet consensus.
“The AI-powered Falcon platform’s native capabilities across our cloud, identity and next-gen SIEM [security information and event management] businesses are unique in the market,” Chief Executive George Kurtz said. He said that these areas contributed to “well over” $500 million in ending annual recurring revenue.
For the current quarter, CrowdStrike expects $775.4 million to $778.0 million in total revenue, along with 74 cents in adjusted earnings per share. The FactSet consensus was for $774.1 million in revenue and 60 cents in adjusted EPS.
Looking to the full fiscal year, management is calling for $3.0307 billion to $3.0429 billion in total revenue and $2.80 to $2.84 in adjusted EPS. Analysts were looking for $3.024 billion and $2.39, respectively.
CrowdStrike’s stock was off about 1% in Wednesday’s extended trading.
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