CrowdStrike Holdings Q2 Results Beat Street View; Lifts FY Outlook; Shares Down 3%

(RTTNews) - CrowdStrike Holdings, Inc. (CRWD) Tuesday reported second-quarter results, with both adjusted earnings and revenues beating Wall Street view. Moving ahead, the company also lifted its outlook for the full year. However, the company's shares slipped over 3% in extended trading session.

CrowdStrike's second-quarter loss widened to $57.3 million or $0.25 per share from $29.9 million or $0.14 per share last year.

Adjusted earnings for the quarter were $25.9 million or $0.11 per share, up from $7.9 million or $0.03 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.09 per share for the quarter..

Revenues for the quarter surged 70% to $337.7 million from $199.0 million last year. Analysts had a consensus revenue estimate of $323.16 million. Subscription revenue was $315.8 million, a 71% increase from last year. Analysts had a consensus revenue estimate of $323.16 million.

Annual recurring revenues increased 70% year-over-year and grew to $1.34 billion as of July 31, 2021, of which $150.6 million was net new ARR added in the quarter.

Subscription gross margin was 76%, same as last year. The company added 1,660 net new subscription customers in the quarter for a total of 13,080 subscription customers as of July 31, 2021, representing 81% growth year-over-year.

Looking forward to the third quarter, CrowdStrike expects adjusted earnings of $0.08 to $0.10 per share and revenues of $358.0 million to $365.3 million. Analysts currently estimate earnings of $0.09 per share on revenues of $350.92 million.

For the full year 2022, the company expects adjusted earnings of $0.43 to $0.49 per share and revenues of $1.39 billion to $1.41 billion. Previously, the company expected adjusted earnings of $0.35 to $0.41 per share and revenue of $1.35 billion to $1.37 billion. Analysts currently estimate earnings of $0.40 per share on revenues of $1.36 billion.

CRWD closed Tuesday's trading at $281.00, down $5.37 or 1.88%, on the Nasdaq. The stock further slipped $9.27 or 3.30% in the after-hours trade.