Crowdstrike Holdings Inc (NASDAQ:CRWD) stock rose 2.03% (As on March 8, 11:12:03 AM UTC-4, Source: Google Finance) after the company forecast fiscal year 2024 revenue above market estimates, the latest sign that spending on cybersecurity products was holding up in a turbulent economy. CrowdStrike’s net loss for the fourth quarter widened to $47.5 million from $42 million a year earlier. Annual Recurring Revenue (ARR) increased 48% year-over-year and grew to $2.56 billion as of January 31, 2023, of which $221.7 million was net new ARR added in the quarter.  Subscription revenue was $598.3 million, a 48% increase, compared to $405.4 million in the fourth quarter of fiscal 2022. Non-GAAP subscription gross margin was 77%, compared to 79% in the fourth quarter of fiscal 2022.  Net cash generated from operations was $273.3 million, compared to $159.7 million in the fourth quarter of fiscal 2022. Free cash flow was $209.5 million, compared to $127.3 million in the fourth quarter of fiscal 2022. Cash, Cash Equivalents and Short-term Investments was $2.71 billion as of January 31, 2023.

CRWD in the fourth quarter of FY 22 has reported the adjusted earnings per share of 47 cents, beating the analysts’ estimates for the adjusted earnings per share of 43 cents. The company had reported the adjusted revenue growth of 48 percent to $637.4 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $624.9 million. Meanwhile. The company has Added 1,873 net new subscription customers in the quarter for a total of 23,019 subscription customers as of January 31, 2023, representing 41% growth year-over-year. CrowdStrike’s module adoption rates were 62%, 39% and 22% for five or more, six or more and seven or more modules, respectively, as of January 31, 2023. The company has announced a new strategic alliance with Dell Technologies to help organizations prevent, detect and respond to cyber threats. The CrowdStrike Falcon platform is available to purchase today with volume licensing, and in the coming months, can be added to the purchase of any Dell commercial PC through Dell’s direct sales teams and any of its authorized partners.

CrowdStrike Holdings Inc. sees Q1 2024 EPS of $0.50-$0.51, versus the consensus of $0.43. CrowdStrike Holdings Inc. sees Q1 2024 revenue of $674.9-678.2M. CrowdStrike Holdings Inc. sees FY2024 EPS of $2.21-$2.39, versus the consensus of $2.00. The company said it expects fiscal year 2024 revenue between $2.96 billion and $3.02 billion, compared with analysts’ estimates of $2.96 billion, according to Refinitiv data.