04:47 PM EST, 03/05/2024 (MT Newswires) -- CrowdStrike ( CRWD ) late Tuesday reported stronger-than-expected fiscal fourth-quarter results and outlined an upbeat financial outlook for the current three-month period, while the cybersecurity company agreed to acquire data security platform Flow Security.

Adjusted earnings advanced to $0.95 a share during the quarter through Jan. 31 from $0.47 the year before, surpassing the Capital IQ-polled consensus of $0.82. Revenue surged 33% to $845.3 million, beating analysts' $840 million estimate.

The stock was rallying 20% in after-hours trade.

"CrowdStrike ( CRWD ) delivered an exceptionally strong and record fourth quarter with net new (annual recurring revenue) growth accelerating to 27% year-over-year, reaching a new high of $282 million," Chief Executive George Kurtz said in a statement.

Subscription revenue jumped 33% to $795.9 million, and professional services soared to $49.4 million from $39.1 million.

For the fiscal first quarter, CrowdStrike ( CRWD ) expects adjusted EPS of $0.89 to $0.90 and revenue in a range of $902.2 million to $905.8 million. The Street is looking for $0.82 and $901.1 million, respectively.

The company forecast fiscal 2025 adjusted EPS to come in between $3.77 and $3.97 on revenue of $3.92 billion to $3.99 billion. The consensus among analysts on Capital IQ is for EPS of $3.76 and sales of $3.94 billion.

CrowdStrike ( CRWD ) separately said its planned acquisition of Flow Security is expected to make its Falcon platform the industry's "most comprehensive data security platform." The company didn't disclose the purchase price but said it will be paid "predominantly in cash, with a portion delivered in the form of equity subject to vesting conditions."

The proposed acquisition is expected to close during CrowdStrike's ( CRWD ) first quarter.

"With the acquisition of Flow Security, we're expanding our cloud leadership by protecting data in all states as it flows through the cloud, and are redefining the future of data protection by securing data from code, to application, to device and cloud," Kurtz said.

"We look forward to working with the cloud security leader, CrowdStrike ( CRWD ), to bring to market the most extensive cloud data protection solution," Flow Security CEO Jonathan Roizin said.

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