CrowdStrike Holdings Inc (NASDAQ:CRWD) reported financial results for the third quarter after the market close on Tuesday. Here's a look at the key details from the print.
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Q3 Highlights: CrowdStrike reported third-quarter revenue slightly above $1.23 billion, beating analyst estimates of approximately $1.22 billion, according to Benzinga Pro. The cybersecurity company posted third-quarter adjusted earnings of 96 cents per share, beating estimates of 94 cents per share.
Total revenue was up 22% year-over-year in the third quarter, and subscription revenue grew 21% to $1.17 billion. Annual recurring revenue increased 23% year-over-year to $4.92 billion after the company added $265.3 million of net new ARR in the quarter.
Net cash generated from operations was $397.5 million and free cash flow came in at $295.9 million. CrowdStrike ended the quarter with $4.80 billion in cash and cash equivalents.
“CrowdStrike is the enabler of secure AI transformation with the right architecture, the right products, and the right execution,” said George Kurtz, founder and CEO of CrowdStrike. “Q3 was one of our best quarters in company history.”
What’s Next: CrowdStrike expects fourth-quarter revenue of $1.29 billion to $1.30 billion versus estimates of $1.293 billion. The company anticipates fourth-quarter adjusted earnings of $1.09 to $1.11 per share versus estimates of $1.08 per share.
CrowdStrike raised its full-year revenue outlook. The company now expects full-year revenue of $4.797 billion to $4.807 billion versus prior guidance of $4.749 billion to $4.805 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 $3.60 to $3.72 per share to a new range of $3.70 to $3.72 per share versus estimates of $3.67 per share.
“We are capitalizing on the AI-driven demand environment as customers consolidate on the Falcon platform, driving our pipeline to an all-time high,” said Burt Podbere, CFO of CrowdStrike.
CrowdStrike’s management team will further discuss the quarter on an earnings call at 5 p.m. ET.
CRWD Price Action: CrowdStrike shares were up 0.28% in after-hours Tuesday, trading at $518 at the time of publication, according to Benzinga Pro.
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