CrowdStrike stock rallies 10% on Q4 earnings report

March 05, 2024 01:11 PM PST | By Invezz

CrowdStrike stock rallies 10% on Q4 earnings report — Image source: Invezz

CrowdStrike stock climbs on upbeat guidance

The stock is being rewarded also because $CRWD issued encouraging guidance for the future. The cybersecurity technology company now forecasts its revenue to fall between $902.2 million and $905.8 million in Q4 on up to 90 cents of per-share earnings.

Analysts, in comparison, were at million on a share, respectively. Burt Podbere – the chief financial officer of CrowdStrike Holdings said in a press release today:

Our achievements in fiscal 2024 represent another high-water mark for CrowdStrike and we remain relentlessly focused on profitably scaling the business to $10 billion ARR and beyond.

The Nasdaq-listed firm ended its fourth quarter with $3.44 billion in annual recurring revenue (ARR) – up 34%. $CRWD is now up over 30% versus the start of 2024.

CrowdStrike Q4 earnings snapshot

Earned $53.7 million that translates to 22 cents a share

Had $47.5 million loss (20 cents a share) a year ago

Adjusted EPS printed at 95 cents as per the earnings report

Revenue jumped 33% year-over-year to $845.3 million

Consensus was a share on million in revenue

CrowdStrike improved its subscription gross margin by 300 basis points to 78%, as per the quarterly report. CEO George Kurtz said on Tuesday:

Customers favor our single platform approach … CrowdStrike is cybersecurity’s consolidator of choice, innovator of choice, and platform of choice to stop breaches.

This is a developing story. Check back in a few minutes for more updates!

The post CrowdStrike stock rallies 10% on Q4 earnings report appeared first on Invezz

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