financetom
Business
financetom
/
Business
/
CrowdStrike Q2 Earnings: Revenue Beat, EPS Beat, ARR Up 32% 'Even More Customer-Obsessed' Company Following IT Outage In July
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CrowdStrike Q2 Earnings: Revenue Beat, EPS Beat, ARR Up 32% 'Even More Customer-Obsessed' Company Following IT Outage In July
Aug 31, 2024 4:20 AM

CrowdStrike Holdings Inc ( CRWD ) reported second-quarter financial results Wednesday after the bell. Here’s a look at the key metrics from the quarter.

Q2 Earnings: CrowdStrike ( CRWD ) reported second-quarter revenue of $963.9, beating the consensus estimate of $958.582 million. The cybersecurity company reported adjusted earnings of $1.04 per share, beating analyst estimates of 97 cents per share.

CrowdStrike ( CRWD ) has beat analyst estimates on the top and bottom lines in each quarter since it went public in 2019, according to data from Benzinga Pro.

Total revenue was up 32% year-over-year. Annual recurring revenue increased 32% year-over-year to $3.86 billion after the company added $217.6 million of net new ARR in the second quarter. Net cash generated from operations was $326.6 million and free cash flow came in at $272.2 million. The company ended the quarter with $4.04 billion in cash, equivalents and short-term investments.

“Working with customers to recover from the July 19th incident, we emerge as an even more resilient and even more customer-obsessed CrowdStrike ( CRWD ), continuing to aggressively invest in innovation. Our second quarter demonstrates the resilience of our business and platform — with LogScale Next-Gen SIEM, Identity Protection and Cloud Security eclipsing $1 billion in combined ending ARR,” said George Kurtz, co-founder, president and CEO of CrowdStrike ( CRWD ).

“In response to rising point product complexity and an elevated threat environment, organizations are increasingly focused on consolidating their cybersecurity vendors into a streamlined platform that delivers better security outcomes, which is CrowdStrike Falcon. Our vision and mission of stopping breaches remains unchanged.”

See Also: Are Nvidia Earnings Wall Street’s Super Bowl? Super Bulls Arrange Watch Parties In New York City

What’s Next: CrowdStrike ( CRWD ) expects third-quarter revenue to be in the range of $979.2 million to $984.7 million versus estimates of $1.01 billion. The company anticipates third-quarter adjusted earnings of 80 cents to 81 cents per share versus estimates of 96 cents per share.

CrowdStrike ( CRWD ) sees fiscal year 2025 revenue of $3.89 billion to $3.902 billion versus estimates of $3.953 billion. The company expects full-year earnings to be in the range of $3.61 to $3.65 per share versus estimates of $3.88 per share.

CrowdStrike ( CRWD ) noted it extended commitment packages to customers impacted by the major IT outage in July. The company expects an estimated $30 million subscription revenue impact in each of the remaining fiscal quarters as a result of incentives related to its customer commitment package. 

CrowdStrike ( CRWD ) also said its 2025 guidance includes an estimated impact in the high-single digit millions to professional services revenue related to customer commitments.

CrowdStrike ( CRWD ) executives will hold a conference call to discuss the company’s quarterly results at 5 p.m. E.T.

CRWD Price Action: CrowdStrike ( CRWD ) shares were up 3.33% after hours, trading at $273 at the time of publication Wednesday, according to Benzinga Pro.

Read Next:

SentinelOne Posts Q2 Beat, 6 Analysts Cite Benefits Of CrowdStrike Customer Churn: ‘Outage Was A Net Positive’

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved