06:37 AM EST, 11/27/2024 (MT Newswires) -- CrowdStrike ( CRWD ) raised its full-year outlook and reported better-than-expected fiscal third-quarter results, but the cybersecurity firm said it's still feeling the impact of the July global tech outage, sending its shares lower early Wednesday.

The company now anticipates per-share adjusted earnings to be in a range of $3.74 to $3.76 for fiscal 2025, it said late Tuesday, up from previous projections of $3.61 to $3.65. Revenue is pegged at $3.92 billion to $3.93 billion versus the previous guidance of $3.89 billion to $3.9 billion. The current consensus on FactSet is for non-GAAP EPS of $3.70 and revenue of $3.91 billion.

"We are encouraged by our continued high dollar-based gross retention rate, success of our customer commitment packages, with customers opting for more product or Flex dollars, the continued strong adoption of the Falcon platform and growing module adoption rates, and quarter-over-quarter growth in pipeline," Chief Financial Officer Burt Podbere said on an earnings call, according to a FactSet transcript.

However, Crowdstrike's ( CRWD ) short-term visibility "remains limited" due to the headwinds associated with the July 19 outage, according to Podbere. The outage stemmed from an update the company deployed for its Falcon sensors on Microsoft (MSFT) Windows systems. The headwinds include the delay of the vast majority of outbound pipeline generation activities for a few weeks, extended sales cycles for new and existing customers and potentially higher-than-usual levels of contraction, among other factors, Podbere said.

"Recognizing our continued reduced visibility, we are maintaining our estimated impact of approximately $30 million to both net new (annual recurring revenue) and subscription revenue in (the fourth quarter) from our customer commitment packages," Podbere told analysts on the call. The stock fell 6.4% in Wednesday's premarket activity.

For the current three-month period, the firm expects adjusted EPS to come in between $0.84 and $0.86 and revenue between $1.03 billion to $1.04 billion. The Street is looking for non-GAAP EPS of $0.86 and revenue of $1.03 billion.

CrowdStrike ( CRWD ) posted adjusted earnings of $0.93 a share for the quarter ended Oct. 31, up from $0.82 the year before, ahead of the Street's view for $0.81. Revenue climbed 29% year over year to $1.01 billion, surpassing analysts' $982.8 million estimate. Subscription revenue jumped 31% to $962.7 million, while professional services declined to $47.4 million from $52.6 million last year.

Annual recurring revenue, or ARR, advanced 27% to $4.02 billion, of which $153 million was net new ARR added in the third quarter, according to the company. "The July 19 incident resulted in near-term headwinds to net new ARR as we experienced extended sales cycles with both existing and prospective customers and one-time incentives offered through our customer commitment packages, which resulted in increased contraction and muted upsell rates," Podbere said.