From CNBC: 2024-11-26 20:29:47

CrowdStrike reported strong fiscal Q3 results, with revenue up 29% YoY to $1.01 billion, beating estimates. Adjusted EPS increased to 93 cents, exceeding expectations. ARR surpassed $4 billion for the first time, while remaining performance obligation surged 46% to $5.4 billion. Shares dropped post-earnings, providing a buying opportunity for long-term investors.

CEO George Kurtz highlighted the company’s gross retention rate of over 97% and record $1 million+ transactions. CrowdStrike saw positive uptake of its Falcon Flex model, signing over 150 deals in Q3. Dollar-based net retention was 115%, demonstrating existing customers are spending more. Falcon platform resonating with customers, driving growth and customer adoption.

For Q4, CrowdStrike expects total revenue of $1.0287-1.0354 billion and non-GAAP EPS of 84-86 cents. Full-year outlook includes revenue of $3.92-3.93 billion and non-GAAP EPS of $3.74-3.76. Management sees TAM doubling to $250 billion by 2029. Despite short-term stock drop, company’s long-term prospects remain strong, attracting investors looking for growth opportunities in cybersecurity.



Read more at CNBC:: CrowdStrike’s post-earnings stock drop is a buy. Here’s why sellers have it all wrong