CrowdStrike Delivers Q2 Earnings Beat, Revenue Jumps 37% As Customers 'Rapidly' Embrace AI-Powered Falcon Platform

​​​​​​CrowdStrike Holdings Inc CRWD shares are volatile in Wednesday's after-hours session after the cybersecurity company reported second-quarter financial results.

• Q2 Revenue: $731.63 million beat estimates of $724.13 million
• Q2 EPS: 74 cents beat estimates of 56 cents

Revenue was up 37% year-over-year, ending annual recurring revenue grew 37% to $2.93 billion. Cash flow from operations came in at $245 million, while free cash flow totaled $189 million.

CrowdStrike ended the quarter with $3.17 billion in cash and equivalents.

"CrowdStrike delivered strong growth at scale, exceeding our guidance across both top and bottom line metrics in the second quarter," said George Kurtz, co-founder, president and CEO of CrowdStrike.

"The AI-powered Falcon platform's native capabilities across our cloud, identity, and next-gen SIEM businesses are unique in the market, in aggregate contributing well over half a billion dollars in ending ARR. Our platform strategy sets us apart from the competition, resulting in high win rates as customers rapidly embrace Falcon."

Outlook: CrowdStrike sees third-quarter revenue in the range of $775.4 million to $778 million versus estimates of $773.97 million. The company anticipates earnings of 74 cents per share versus estimates of 60 cents per share.

For full-year 2024, CrowdStrike expects revenue to be between $3.03 billion and $3.04 billion, versus estimates of $3.02 billion. The company anticipates earnings of $2.80 to $2.84 per share versus estimates of $2.39 per share.

Management will hold a conference call to discuss these results at 5 p.m. ET.

Check This Out: Why CrowdStrike Is Set To Beat Conservative Estimates: Analyst On Vigorous Channel Checks And Stabilizing Demand

CRWD Price Action: CrowdStrike shares were down 1.03% after hours at $147.65 at the time of writing, according to Benzinga Pro.

Photo: B_A from Pixabay.