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CrowdStrike's (CRWD) Q4 Earnings & Revenues Top Estimates
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CrowdStrike (CRWD - Free Report) reported fourth-quarter fiscal 2020 non-GAAP earnings of 13 cents per share, beating the Zacks Consensus Estimate by 44.44%. Quarterly earnings also marked a significant improvement from the year-ago quarter’s earnings per share of 2 cents.
CrowdStrike Holdings Inc. Price, Consensus and EPS Surprise
CrowdStrike’s fiscal fourth-quarter revenues of $264.9 million surged 74% year over year and beat the consensus mark of $251 million. Subscription revenues jumped a whopping 77% year over year to $244.7 million.
An 82% increase in subscription customers led to this impressive growth. CrowdStrike added 1,480 net new subscription customers during the reported quarter. The company had a total of 9,896 subscription customers as of Jan 31, 2021.
Moreover, CrowdStrike’s subscription customers who adopted four or more cloud modules increased to 63%, those with five or more cloud modules rose to more than 47% and for six or more cloud modules the metric jumped to 24% as of Jan 31, 2021.
Revenues from professional services soared 49% year over year to $20.3 million.
The company added $143 million to its net new average run rate (ARR), achieving $1.05 billion, up a whopping 75% from the year-ago quarter.
The dollar-based net retention rate exceeded 125% at the end of fiscal 2021.
Notably, CrowdStrike added Salesforce (CRM - Free Report) as a customer during the fourth quarter.
Operating Details
CrowdStrike’s non-GAAP gross margin expanded 380 basis points (bps) on a year-over-year basis to 77%. Subscription gross margin advanced 300 bps to 80%. Moreover, the professional services gross margin increased to 49% from the year-ago quarter’s 42%.
Total non-GAAP operating expenses, as a percentage of revenues, were 64% compared with the prior-year quarter’s 78%.
Non-GAAP operating income was $34.4 million against the loss of $6.7 million reported in the year-ago quarter. Non-GAAP operating margin for the quarter was 13%.
Balance Sheet & Cash Flow
As of Jan 31, 2021, cash and cash equivalents were $1.92 billion compared with $1.06 billion as of Oct 31, 2020.
During the fiscal fourth quarter, the company generated operating and free cash flows of $114.5 million and $97.4 million, respectively.
Full-Year Fiscal 2021 Highlights
Total revenues of $874.4 million increased 82% year over year, with subscription revenues of $804.7 million growing 84% and professional services revenues of $69.8 million increasing 55%.
Non-GAAP earnings of 27 cents also significantly improved from a loss per share of 42 cents in fiscal 2020.
CrowdStrike generated operating and free cash flows of $356.6 million and $292.9 million, respectively.
Guidance
For first-quarter fiscal 2022, CrowdStrike anticipates revenues between $287.8 million and $292.1 million. As far as the bottom line is concerned, the company expects to report earnings per share between 5 cents and 6 cents.
Management expects Humio to contribute approximately $2 million to acquired net new ARR in the first quarter of fiscal 2022.
For fiscal 2022, management issued its revenue guidance range at $1,310.4 -$1,320.7 million. The company anticipates non-GAAP earnings per share of 27-30 cents.
Zacks Rank & Other Stocks to Consider
CrowdStrike currently carries a Zacks Rank #2 (Buy).
The long-term earnings growth rate for Skyworks Solutions and Micron are currently pegged at 18.98% and 9.21%, respectively.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
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CrowdStrike's (CRWD) Q4 Earnings & Revenues Top Estimates
CrowdStrike (CRWD - Free Report) reported fourth-quarter fiscal 2020 non-GAAP earnings of 13 cents per share, beating the Zacks Consensus Estimate by 44.44%. Quarterly earnings also marked a significant improvement from the year-ago quarter’s earnings per share of 2 cents.
CrowdStrike Holdings Inc. Price, Consensus and EPS Surprise
CrowdStrike Holdings Inc. price-consensus-eps-surprise-chart | CrowdStrike Holdings Inc. Quote
Top-Line Details
CrowdStrike’s fiscal fourth-quarter revenues of $264.9 million surged 74% year over year and beat the consensus mark of $251 million. Subscription revenues jumped a whopping 77% year over year to $244.7 million.
An 82% increase in subscription customers led to this impressive growth. CrowdStrike added 1,480 net new subscription customers during the reported quarter. The company had a total of 9,896 subscription customers as of Jan 31, 2021.
Moreover, CrowdStrike’s subscription customers who adopted four or more cloud modules increased to 63%, those with five or more cloud modules rose to more than 47% and for six or more cloud modules the metric jumped to 24% as of Jan 31, 2021.
Revenues from professional services soared 49% year over year to $20.3 million.
The company added $143 million to its net new average run rate (ARR), achieving $1.05 billion, up a whopping 75% from the year-ago quarter.
The dollar-based net retention rate exceeded 125% at the end of fiscal 2021.
Notably, CrowdStrike added Salesforce (CRM - Free Report) as a customer during the fourth quarter.
Operating Details
CrowdStrike’s non-GAAP gross margin expanded 380 basis points (bps) on a year-over-year basis to 77%. Subscription gross margin advanced 300 bps to 80%. Moreover, the professional services gross margin increased to 49% from the year-ago quarter’s 42%.
Total non-GAAP operating expenses, as a percentage of revenues, were 64% compared with the prior-year quarter’s 78%.
Non-GAAP operating income was $34.4 million against the loss of $6.7 million reported in the year-ago quarter. Non-GAAP operating margin for the quarter was 13%.
Balance Sheet & Cash Flow
As of Jan 31, 2021, cash and cash equivalents were $1.92 billion compared with $1.06 billion as of Oct 31, 2020.
During the fiscal fourth quarter, the company generated operating and free cash flows of $114.5 million and $97.4 million, respectively.
Full-Year Fiscal 2021 Highlights
Total revenues of $874.4 million increased 82% year over year, with subscription revenues of $804.7 million growing 84% and professional services revenues of $69.8 million increasing 55%.
Non-GAAP earnings of 27 cents also significantly improved from a loss per share of 42 cents in fiscal 2020.
CrowdStrike generated operating and free cash flows of $356.6 million and $292.9 million, respectively.
Guidance
For first-quarter fiscal 2022, CrowdStrike anticipates revenues between $287.8 million and $292.1 million. As far as the bottom line is concerned, the company expects to report earnings per share between 5 cents and 6 cents.
Management expects Humio to contribute approximately $2 million to acquired net new ARR in the first quarter of fiscal 2022.
For fiscal 2022, management issued its revenue guidance range at $1,310.4 -$1,320.7 million. The company anticipates non-GAAP earnings per share of 27-30 cents.
Zacks Rank & Other Stocks to Consider
CrowdStrike currently carries a Zacks Rank #2 (Buy).
A couple of other top-ranked stocks in the broader technology sector are Skyworks Solutions (SWKS - Free Report) and Micron Technology (MU - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Skyworks Solutions and Micron are currently pegged at 18.98% and 9.21%, respectively.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>