CrowdStrike raises annual revenue forecast on strong cybersecurity demand

CrowdStrike beat second-quarter earnings estimates and raised its annual revenue forecast on Wednesday, as demand for its cloud-based cybersecurity platform continued to grow.

Shares of the Austin, Texas-based company rose more than 10% ‌in ⁠extended trading.

⁠CrowdStrike is a cloud-native cybersecurity software firm that helps businesses protect their computers, cloud systems, accounts and data from cyberattacks.


Recent disclosures from Meta, Anthropic and OpenAI showed increasingly capable AI ​models exploiting vulnerabilities or breaching ⁠systems in ‌cybersecurity testing, highlighting the hacking ​risks ​posed by the technology and the ⁠growing need for cybersecurity products.

CrowdStrike ​CEO George Kurtz said, "Every enterprise will ​run on AI, and securing it is the largest market opportunity in our history."

The company posted second-quarter revenue of $1.47 billion, beating analysts' average estimate of $1.44 billion, ‌according to data compiled by LSEG.

Adjusted profit per share came in ​at 31 ​cents, beating ⁠analysts' estimate of 29 cents.

The company raised its full-year revenue forecast to between $5.991 billion and $6.01 ​billion, from a previous forecast of between $5.91 billion and $5.96 billion.

Annual recurring revenue was $5.84 billion at the quarter-end, up 25% from a year earlier.