CrowdStrike Holdings Inc (NASDAQ:CRWD) reported financial results for the second quarter after the market close on Wednesday. Here’s a rundown of the cybersecurity company’s report.
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Q2 Highlights: CrowdStrike reported second-quarter revenue of $1.17 billion, beating analyst estimates of $1.15 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 93 cents per share, beating estimates of 83 cents per share.
Total revenue was up 21% year-over-year in the second quarter, and subscription revenue grew 21% to $1.10 billion. Annual recurring revenue increased 20% year-over-year to $4.66 billion after the company added $221.1 million of net new ARR in the quarter.
Net cash generated from operations was $332.8 million and free cash flow came in at $283.6 million. CrowdStrike ended the quarter with $4.97 billion in cash and cash equivalents.
“With reacceleration a quarter ahead of our expectations, CrowdStrike delivered an exceptional Q2. Record Q2 net new ARR of $221 million, over 1,000 Flex customers, and more than 100 re-flexes highlight CrowdStrike as the leader in cybersecurity consolidation,” said George Kurtz, founder and CEO of CrowdStrike.
“As AI transforms the enterprise, CrowdStrike enables organizations to confidently embrace their AI future from development to deployment, from cloud to endpoint, and from human to agent.”
Guidance: CrowdStrike expects third-quarter revenue to be between $1.208 billion and $1.218 billion versus estimates of $1.228 billion. The cybersecurity company anticipates third-quarter adjusted earnings of 93 cents to 95 cents per share versus estimates of 91 cents per share.
CrowdStrike now expects full-year revenue of $4.749 billion to $4.805 billion versus prior guidance of $4.74 billion to $4.81 billion. Analysts are looking for full-year revenue of $4.784 billion.
The company also raised its full-year adjusted earnings guidance from a range of $3.44 to $3.56 per share to a new range of $3.60 to $3.72 per share versus estimates of $3.52 per share.
CrowdStrike announced plans to acquire real-time telemetry pipeline management company Onum. Terms of the deal were not disclosed.
CrowdStrike executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
CRWD Price Action: CrowdStrike shares were down 6.66% in the after-hours session on Wednesday, trading at $394.46 at the time of publication, according to Benzinga Pro.
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