shares are gaining ground in late trading Tuesday after the security software company posted better-than-expected financial results for its fiscal fourth quarter ended Jan. 31.
For the quarter, CrowdStrike (ticker: CRWD) posted revenue of $264.9 million, up 74%, and well ahead of both the company’s guidance range of $245.5 million to $250.5 million, and Street consensus at $250.4 million. Subscription revenue was $244.7 million, up 77%. Annual recurring revenue was $1.05 billion, up 75%. The company had an adjusted profit of 13 cents a share, above the guidance range of 8 cents to 9 cents a share. On a GAAP basis, the company lost $19 million, or 9 cents a share.
For the full year, CrowdStrike had revenue of $874.4 million, up 82%.
CrowdStrike is projecting revenue for the fiscal first quarter ending April 30 of $287.8 million to $292.1 million, with non-GAAP profits of 5 cents to 6 cents a share. That’s above the old Street consensus at $267.9 million and 4 cents a share.
For the January 2022 fiscal year, the company sees revenue of $1.31 billion to $1.32 billion, up about 50% at the midpoint of the range, with non-GAAP profits of 27 cents to 30 cents a share; previous consensus called for $1.22 billion and non-GAAP profits of 28 cents a share.
“CrowdStrike delivered a record fourth quarter and an exceptional finish to a strong fiscal year,” CEO George Kurtz said in a statement. “Combined with strong secular tailwinds, including digital transformation and an unprecedented threat environment, and our expanding technology portfolio, which now includes leading index-free data ingestion capabilities, we believe we are in an ideal position to further extend our leadership in the Security Cloud category we pioneered.”
CrowdStrike in late trading is up 6.5%, to $209.
Write to Eric J. Savitz at [email protected]
This article is auto-generated by Algorithm Source: www.barrons.com