CrowdStrike (CRWD) Falls 3% After-Hours Despite Q2 Beat/Raise on 70% Revenue Growth
CrowdStrike Holdings Inc. (NASDAQ: CRWD) shares were trading around 3% lower after-hours despite better-than-expected Q2/2022 results, highlighted by rapid subscription revenue growth and record net new ARR generated.
Quarterly revenue rose 70% to $337.7 million, beating the consensus estimate of $323.13 million, with Annual Recurring Revenue (ARR) of $1.34 billion (an increase of 70% year-over-year), of which $150.6 million was net new ARR.
Q2 non-GAAP EPS of $0.11 also beat the Street estimate of $0.09.
CrowdStrike 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.
The company raised its 2022 non-GAAP fiscal year EPS guidance to $0.43-$0.49 (vs. consensus of $0.40) and Revenue guidance to $1.391-1.408 billion (vs. consensus of $1.36 billion).
George Kurtz, CrowdStrike’s co-founder, and CEO, highlighted the importance of Falcon platform, viewing it as a fundamental cornerstone to building a durable growth business over the long term.
Shares are up 33% YTD and hit a 52-week high yesterday into today's print.