- General
- July 19, 2019
- 4 minutes read
CrowdStrike Impresses With First Quarterly Results
CrowdStrike CEO George Kurtz Photograph by Stuart Isett/Fortune Brainstorm Tech CrowdStrike — a cybersecurity company among a host of tech…
CrowdStrike CEO George Kurtz
Photograph by Stuart Isett/Fortune Brainstorm Tech
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CrowdStrike — a cybersecurity company among a host of tech companies that have recently gone public — just released its first financial results as a public company, showing impressive stats for the first quarter of its fiscal 2020. Revenue for the quarter grew 103% from [$47.3 million] in the same period last year to $96.1 million while losses shrank more than 20% from [$33.6 million] last year to $26 million.
CrowdStrike jumped 11% on the Nasdaq stock exchange after releasing its financial results. Other stats from its quarterly results include:
- 543 new subscription customers added
- $175.1 million in cash, cash equivalents and marketable securities as of April end
- Annual Recurring Revenue (ARR) up 114% to $364.6 million as of April end
CrowdStrike CTO Dmitri Alperovitch
Photograph by Stuart Isett for Fortune Magazine
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CrowdStrike expects Q2 fiscal 2020 revenue of between $103 million-$104 million. For the full year, it’s expecting revenues of between $430.2 million-$436.4 million. CrowdStrike recently had an IPO that raised $659.1 million in net proceeds. The company is among a handful of unicorns [to name some; Zoom, Pinterest, Uber, Slack and Lyft] that also went public this year.
According to Pitchbook data, the second quarter of 2019 saw over $130 billion in exit value, with Uber’s IPO accounting for nearly 50% of that figure.