CrowdStrike shares fell 3.27% in premarket trading despite reporting second-quarter earnings results that topped Wall Street estimates and raising the full-year guidance for the second quarter in a row. The company's third-quarter revenue forecast was above estimates, but the profit outlook was softer.
- Total revenue increased 70% compared to the same period last year to $337.7 million, $14 million ahead of consensus, with subscription sales accounting for $184.3 million, a 71% growth for the segment.
- Adjusted earnings of $0.11 per share beat estimates by two cents.
- CrowdStrike added 1,660 net new subscription customers in the quarter for a total of 13,080, up 81% on the year.
- Adjusted subscription gross margin was flat on the year at 78%.
- For the third quarter, the company guides for sales of $358 million to $365.3 million with adjusted EPS of $0.08 to $0.10. Analysts expected the company to forecast $351.72 million in revenue and $0.09 EPS.
- The full-year revenue outlook raises to $1.39 billion to $1.41 billion from the prior $1.35 billion to $1.37 billion and adjusted EPS to $0.43 to $0.49, up from $0.35 to $0.41. Consensus estimates expected $1.36 billion in revenue and $0.39 for EPS.
- The third-quarter profit guidance could prove conservative. CrowdStrike has topped consensus EPS estimates every quarter since going public in the summer of 2019.