CrowdStrike delivered strong first quarter earnings with revenue growth of 33%.
The cybersecurity giant reported first quarter net income of $42.8 million, or 17 cents, on revenue of $921 million. Non-GAAP earnings were 93 cents a share.
Wall Street was looking for non-GAAP earnings of 89 cents a share on revenue of $905 million.
CrowdStrike is part of an industry movement to standardize cybersecurity platforms. Palo Alto Networks has made a big push to entice customers to consolidate vendors on its platform. Palo Alto Networks earlier this year set off the debate with a plan to bet that it could be the leading cybersecurity platform. Although the company said it has seen strong interest from customers, it's far too early to say the debate is settled.
Cybersecurity platformization: What you need to know |
George Kurtz, CEO of CrowdStrike, said about the company's Falcon platform:
"The Falcon platform’s differentiated architecture creates a wide competitive moat and uniquely enables CrowdStrike to solve the industry’s biggest cybersecurity, IT and data problems. Customers of all sizes are standardizing on the Falcon platform to achieve better security outcomes and lower their TCO."
For the second quarter, CrowdStrike projected revenue of $958.3 million to $961.2 million with non-GAAP earnings of 98 cents a share to 99 cents a share. For fiscal 2025, CrowdStrike projected revenue of $3.976 billion to $4.01 billion with non-GAAP earnings of $3.93 a share to $4.03 a share.
