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CrowdStrike Shares Falls nearly 6% even though the cybersecurity company reported better-than-expected quarterly results and issued a positive outlook.
Source: CrowdStrike
CRWD down -6.45%, PANW down -1.18%
CrowdStrike earnings were 31 cents per share, rising 210% from a year ago, on an adjusted basis. Revenue, including acquisitions, rose 61% to $487.8 million.
The company’s annual recurring revenue (ARR) rose by 61% year-over-year and expanded to $1.92 billion; $190.5 million was new ARR added in the quarter.
CrowdStrike’s net loss contracted to $31.5 million in the first quarter from $85 million in the first quarter last year.
The company added 1,620 net subscription customers in the quarter, bringing the total subscription customers to 17,945, representing a 57% growth YoY.
For the second quarter, CrowdStrike projects revenue of $514.7 million compared to an estimate of $509.8 million.
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