CrowdStrike Holdings surged nearly 9% in pre-market trading on Thursday after the cybersecurity company reported better-than-expected quarterly results and raised its full-year revenue guidance.
The company posted revenue of $1.47 billion for its fiscal second quarter ended July 31, up 26% from a year earlier and exceeding the consensus estimate of $1.44 billion. Adjusted earnings per share came in at $0.31, topping the $0.29 forecast.
Net new annual recurring revenue (ARR) reached a record $333 million, a 51% year-over-year increase and more than $45 million above the company’s guidance midpoint. Total ending ARR climbed to $5.84 billion, marking the fourth straight quarter of accelerating growth. The Falcon Flex platform ARR surpassed $2.29 billion, growing 101% year-over-year.
Chief Executive Officer George Kurtz attributed the acceleration to growing enterprise adoption of AI, which he said demands robust security solutions. Chief Financial Officer Burt Podbere called the quarter record-breaking across operating income and cash flow metrics.
CrowdStrike also raised its full-year revenue outlook to a range of $5.99 billion to $6.01 billion, above the prior Street consensus of $5.94 billion. The company increased its net new ARR growth target by 630 basis points.
The positive report followed Nvidia’s blockbuster quarterly results and bullish sales outlook, which eased concerns about the sustainability of AI infrastructure spending. Nasdaq 100 futures rose about 1% in early Thursday trading, while the S&P 500 and Nasdaq traded higher on the day.
