CrowdStrike’s Stock Surges 23% On Earnings Beat

CrowdStrike reported earnings per share (EPS) of $0.95 U.S. compared to $0.82 U.S. that was the consensus expectation of analysts.

Revenue in the quarter came in at $845 million U.S. versus $839 million U.S. that was forecast on Wall Street. The company added that its full-year revenue rose 36% from 2022 levels to reach $3 billion U.S.

In addition to its quarterly numbers, CrowdStrike announced it is acquiring Flow Security for an undisclosed price in a cash-and-stock deal that’s scheduled to close in the current quarter.

In terms of forward guidance, CrowdStrike said it expects revenue of $902 million U.S. to $906 million U.S. in the current first quarter. That was better than an estimate of $899 million U.S. among analysts.

CrowdStrike also expects Q1 earnings of $0.89 U.S. to $0.90 U.S. Wall Street had earnings of $0.82 U.S. penciled in for the company.

On an earnings call with analysts and media, management at CrowdStrike reiterated their goal of achieving $10 billion U.S. in annual recurring revenue by 2030.

Prior to today (March 6), CrowdStrike’s stock had risen 133% over the past 12 months to trade at $297.56 U.S. per share.