CrowdStrike Holdings Inc (NASDAQ:CRWD) reported financial results for the first quarter of fiscal 2027 after the closing bell on Wednesday. Here’s a look at the key details from the report.
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CrowdStrike Q1 Earnings Highlights
CrowdStrike reported first-quarter revenue of $1.39 billion, beating analyst estimates of $1.36 billion, according to Benzinga Pro. The cybersecurity company posted adjusted earnings of $1.10 per share, beating estimates of $1.07 per share.
Total revenue was up 26% year-over-year in the first quarter. Subscription revenue came in at $1.32 billion, also up 26% year-over-year. Annual recurring revenue increased 24% year-over-year to $5.51 billion after the company added $255.8 million of net new ARR in the quarter.
Net cash generated from operations was $590.9 million, and free cash flow came in at $468.5 million. CrowdStrike ended the period with $4.55 billion in cash and cash equivalents.
“In Q1, the worlds of cybersecurity and frontier AI collided: this was the Mythos moment. CrowdStrike is AI security infrastructure, critical to successful AI adoption,” said George Kurtz, founder and CEO of CrowdStrike.
“Our record Q1 net new ARR, QuiltWorks coalition, and AIDR innovation are indicators of our own AI inflection point. We’re seeing platform adoption from existing customers, new logo lands, and increased partner engagement, each giving me the conviction to significantly raise our FY27 net new ARR guidance.”
CrowdStrike Sees Continued Strength
CrowdStrike expects second-quarter revenue of $1.436 billion to $1.442 billion versus estimates of $1.434 billion. The company anticipates second-quarter adjusted earnings of $1.16 to $1.17 per share, versus estimates of $1.16 per share.
CrowdStrike raised its fiscal 2027 revenue guidance from a range of $5.87 billion to $5.93 billion to a new range of $5.92 billion to $5.96 billion, versus estimates of $5.89 billion. The company also raised its full-year adjusted earnings guidance from a range of $4.78 to $4.90 per share to a new range of $4.88 to $4.96 per share, versus estimates of $4.86 per share.
CrowdStrike also announced that its board approved a four-for-one stock split. Each shareholder at the close of business on June 25 will receive an additional three shares for every one share held. The stock is expected to begin trading on a split-adjusted basis on July 2.
CrowdStrike executives will discuss the quarter on an earnings call scheduled to start at 5 p.m. ET.
CRWD Shares Fall After Hours
CRWD Price Action: CrowdStrike shares were down 8.68% in after-hours on Wednesday, trading at $681.20 at the time of publication, according to Benzinga Pro.
Image: Shutterstock.com
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