CrowdStrike Q3 Earnings: EPS Beat, Revenue Up 35%, Record Cash Flow, Strong Guidance And More

CrowdStrike Holdings Inc CRWD reported third-quarter financial results after the close on Tuesday. Here's a look at the key metrics from the quarter.

Q3 Earnings: CrowdStrike said third-quarter revenue increased 35% year-over-year to $786 million, which beat the consensus estimate of $777.13 million, according to Benzinga Pro. The cybersecurity company reported quarterly earnings of 82 cents per share, which beat analyst estimates of 74 cents per share.

CrowdStrike delivered new ARR of $223 million and ended the quarter with ARR of more than $3 billion, up 35% year-over-year. 

Net cash generated from operations was $273.5 million. CrowdStrike also generated $239 million in free cash flow during the quarter. The company ended the quarter with $3.17 billion in cash, equivalents and short-term investments. 

"CrowdStrike's record third quarter exceeded expectations, delivering new milestones across the business: net new ARR growth accelerated to a record $223 million and ending ARR surpassed $3 billion, making CrowdStrike the fastest and only pure play cybersecurity software vendor in history to achieve this milestone," said George Kurtz, co-founder, president and CEO of CrowdStrike. 

"Our single platform architecture and unique data advantage unites security and I.T. teams in solving cybersecurity's mission-critical challenges, driving increased win rates and record pipeline. Customers increasingly trust the AI-native Falcon XDR platform as their cybersecurity consolidator of choice."

Outlook: CrowdStrike sees fourth-quarter revenue of $836.6 million to $840 million versus estimates of $836.71 million. The company expects full-year revenue to be between $3.047 billion and $3.05 billion versus estimates of $3.04 billion.

CrowdStrike anticipates fourth-quarter earnings of 81 cents to 82 cents per share versus estimates of 78 cents per share. The company sees full-year earnings in the range of $2.95 to $2.96 per share versus estimates of $2.83 per share.

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

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CRWD Price Action: CrowdStrike shares were down 1.17% after hours at $209.87 at the time of writing, according to Benzinga Pro.

Photo: rupixen from Pixabay.