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CrowdStrike shares jump after CEO calls best quarter in company history
Revenue increased 26% to $1.47 billion, and net new annual recurring revenue reached a record $333 million, up 51% year over year.
CrowdStrike reported results after which CEO George Kurtz said the quarter was the best in the company’s history and that the performance sets a new benchmark, according to Yahoo Finance.
The outlet said the market reaction was swift, with the stock rising more than 20% in a single trading session. Revenue grew 26% to $1.47 billion, topping expectations, and the company raised its guidance for the rest of the year.
CrowdStrike’s standout metric was net new annual recurring revenue, which included fresh subscription business added during the quarter. The company recorded a record $333 million in net new annual recurring revenue, up 51% from a year earlier, and lifted its full-year forecast for net new ARR growth to 34%.
Yahoo Finance also said Kurtz described securing AI as the largest market opportunity in the company’s history, and noted that more than a dozen analyst firms, including Morgan Stanley, UBS, and Well Fargo, raised price targets after the results.