CrowdStrike Holdings reported 2QFY2025 ended July 31 sales that topped analysts’ estimates, indicating that a global IT outage it caused last month didn’t have an immediate impact on results.
Revenue in the quarter ending in July was US$963.9 million ($1.25 billion), beating analysts’ estimates of US$958.18 million.
However, the company projected full-year revenue of US$3.89 billion to US$3.9 billion, shy of analysts’ average estimate for US$3.96 billion.
The shares fell almost 4% in late trading, reversing earlier gains.
The report is the company’s first since a flawed CrowdStrike update crashed computers of customers using Microsoft's Windows. The outage, which unfolded on July 19, disrupted a wide range of industries, including air travel, banks and health care. CEO George Kurtz began his investor call on Wednesday by apologising for the outage and thanking those who helped with the recovery.
“Our market opportunity remains unchanged, and we believe our continued commitment to customers and innovation will drive even more Falcon platform adoption, protecting our customers from rapidly evolving cyber threats and enabling us to achieve our long-term targets,” CrowdStrike CFO Burt Podbere said in a statement.
See also: Web services of SGX and certain payment methods in CDG app affected amid global IT outage
The company’s shares fell as much as 36% in the aftermath of the crash before recovering some of the losses.
The outage followed a steady rise for CrowdStrike, which has become one of the leading vendors of a cybersecurity tool that seeks to identify and mitigate threats on computers and other devices. The shares more than doubled in the 12 months prior to the crash, and Kurtz has said the company’s consolidated platform gave it a “wide competitive moat”.
In June, CrowdStrike beat Wall Street expectations in delivering first-quarter earnings, even as some competitors struggled.
See also: Chew Sutat: CrowdStrike - the markets reorder
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CrowdStrike has been a top pick of The Edge Singapore's in-house analyst Thiveyen Kathirrasan since 2021. Read more about this Nasdaq-listed company:
- From 2021: CrowdStrike Holdings: Growing niche
- From 2022: CrowdStrike Holdings: This is one winner we are keeping
- From 2023: CrowdStrike Holdings: Keeping the faith
- From 2023: CrowdStrike Holdings: Best-performing counter with consistently improving numbers
- From 2024: CrowdStrike Holdings: Keeping faith with this winner
