CrowdStrike Holdings Inc CRWD shares are trading higher in Tuesday's after-hours session after the cybersecurity company reported better-than-expected results and issued guidance well above analyst estimates.
What Happened: CrowdStrike said fourth-quarter revenue swelled 48% year-over-year to $637.4 million, which beat average analyst estimates of $624.92 million, according to Benzinga Pro. Annual recurring revenue increased 48% on a year-over-year basis to $2.56 billion.
The cybersecurity company reported quarterly earnings of 47 cents per share, which beat estimates of 43 cents per share.
Subscription gross margins came in at 75%. Free cash flow totaled $209.5 million, up from $127.3 million year-over-year.
"CrowdStrike delivered a record fourth quarter that exceeded our expectations across the board. Highlights of the quarter included record net new ARR of $222 million, record net new subscription customers of 1,873, record operating and free cash flow and a rule of 81 on a free cash flow basis," said George Kurtz, co-founder, president and CEO of CrowdStrike.
CrowdStrike expects first-quarter revenue to be between $674.9 million and $678.2 million versus estimates of $664.69 million. The company sees first-quarter adjusted earnings between 50 cents and 51 cents per share versus estimates of 43 cents per share.
CrowdStrike expects full-year 2023 revenue to be between $2.955 billion and $3.015 billion versus estimates of $2.23 billion. The company sees full-year adjusted earnings in a range of $2.21 to $2.39 per share versus estimates of $1.50 per share.
CrowdStrike is set to hold a conference call to discuss these results at 5 p.m. ET.
CRWD Price Action: CrowdStrike has a 52-week high of $242 and a 52-week low of $92.25.
The stock was up 7.36% after hours at $134.28 at the time of publication, according to Benzinga Pro.
Photo: courtesy of CrowdStrike.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.