CrowdStrike forecasts fiscal 2027 revenue above estimates on cybersecurity tools demand

By Jaspreet Singh

March 3 (Reuters) - ‌CrowdStrike forecast fiscal ​2027 ​revenue above Wall Street estimates on Tuesday, betting on resilient demand for its artificial intelligence-powered cybersecurity solutions.

Shares of cybersecurity ‌companies, including CrowdStrike, have fallen recently as investors assessed the ⁠potential impact of AI startup Anthropic's Claude Code Security tool, even as some ‌analysts said the worries were ‌overblown.

CrowdStrike's shares closed 1.7% higher. They were down 0.8% in volatile extended trading.

"I think people are still digesting numbers. But in this ​environment, having a software stock trade close to flat post print seems like a good outcome," said Truist Securities analyst Junaid ⁠Siddiqui.

The company is benefiting from rising enterprise cloud adoption and modernizing security needs amid a ​wave of high-profile cyberattacks that has hit global companies, including cybersecurity company F5.

CrowdStrike expects fiscal 2027 revenue of $5.87 billion ​to $5.93 billion, above analysts' average estimate ‌of $5.86 billion, according to data compiled by LSEG.

It projected annual adjusted earnings per share of $4.78 to $4.90, compared with ⁠estimates of $4.81.

First-quarter revenue forecast of $1.360 billion to $1.364 billion came above estimates of $1.35 billion.

It expects adjusted earnings per share of $1.06 to $1.07 in the first quarter, largely ⁠in-line with estimates of $1.06.

Revenue rose 23% to $1.31 billion in the fourth quarter. The adjusted ​EPS of $1.12 exceeded estimates of $1.10.

The company said costs associated with the Windows outage of July 19, 2024 and related matters widened to $117.7 million in fiscal 2026, ‌compared with $60.1 million a year earlier.

The costs, however, narrowed to $16.2 million in the quarter ended January 31, compared ‌with $21 million a year ago in the same quarter.

In January, CrowdStrike said ⁠it will buy identity security ‌startup SGNL for $740 million ​and Israeli browser runtime security startup Seraphic Security for about $420 million.

(Reporting by Jaspreet Singh in Bengaluru; Editing by ‌Sahal Muhammed)

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