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CrowdStrike (CRWD) Reports Earnings Tomorrow: What To Expect


Petr Huřťák /
2024/08/27 3:01 am EDT

Cybersecurity company CrowdStrike (NASDAQ:CRWD) will be reporting results tomorrow after the bell. Here’s what you need to know.

CrowdStrike beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $921 million, up 33% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ ARR (annual recurring revenue) estimates but a miss of analysts’ billings estimates.

Is CrowdStrike a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting CrowdStrike’s revenue to grow 31% year on year to $958.3 million, slowing from the 36.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.97 per share.

CrowdStrike Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CrowdStrike has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.7% on average.

Looking at CrowdStrike’s peers in the cybersecurity segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Varonis delivered year-on-year revenue growth of 12.9%, beating analysts’ expectations by 4.4%, and Rapid7 reported revenues up 9.2%, topping estimates by 1.9%. Varonis traded up 14.7% following the results while Rapid7 was also up 9.7%.

Read our full analysis of Varonis’s results here and Rapid7’s results here.

Investors in the cybersecurity segment have had steady hands going into earnings, with share prices flat over the last month. CrowdStrike is up 2.3% during the same time and is heading into earnings with an average analyst price target of $334.4 (compared to the current share price of $264.85).

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