CrowdStrike Reports Strong Earnings, Boosts Guidance

Company sets record for net new annual recurring revenue, surpassing $3 billion mark.

CrowdStrike Holdings Inc. reported strong quarterly results, with a profit of 82 cents per share, double the 40 cents earned in the year-ago quarter, and revenue rising 35% to $786 million.
The company set a record for net new annual recurring revenue (ARR) and became the only pure-play cybersecurity provider to surpass $3 billion ARR.
CrowdStrike now sees full-year earnings per share (EPS) of $2.95 to $2.96 and revenue of about $3.05 billion, compared with its earlier forecast of EPS of $2.80 to $2.84 and revenue in the range of $3.03 billion to $3.04 billion.
Several analysts raised price targets following the company's strong quarterly results.
The company is targeting ARR of $10 billion in the next five to seven years.