Shares of CrowdStrike rocketed Friday after a strong earnings report by the fast-growing cybersecurity company, which went public in June.
CrowdStrike (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report shot up 15% to $83.52, having surged in after-hours trading Thursday following the Sunnyvale, Calif., company's first quarterly report.
Revenue doubled to $96.1 million, beating estimates, while its loss of 47 cents a share came in line with analyst expectations.
CrowdStrike, which the FBI used to assess the Russian hacking of the Democratic National Committee, also offered investors stronger-than-expected growth projections for its first fiscal year.
The company is now projecting $430.2 million to $436.4 million of revenue for the fiscal year, above analyst estimates of $412.3 million. CrowdStrike is also projecting a loss of 70 to 72 cents a share, compared with $1.02 pegged by analysts.
Subscription revenue also more than doubled, to $86 million. And annual recurring revenue more than doubled, to $364.6 million as of the end of April, the company stated.
George Kurtz, CrowdStrike's co-founder and chief executive, said in a statement: "We achieved 103% year-over-year revenue growth in the first quarter, which is consistent with the preliminary results that we shared in our IPO prospectus."