Crowdstrike Holdings Inc (NASDAQ:CRWD) stock fell 6.90% (As on June 3, 11:40:35 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 23. Subscription revenue was $459.8 million, a 64% increase, compared to $281.2 million in the first quarter of fiscal 2022. Annual Recurring Revenue (ARR) increased 61% year-over-year and grew to $1.92 billion as of April 30, 2022, of which $190.5 million was net new ARR added in the quarter. Non-GAAP subscription gross margin was approximately 79% in both the first quarter of fiscal 2023 and 2022. Non-GAAP income from operations was $83.0 million, compared to $29.8 million in the first quarter of fiscal 2022. Non-GAAP net income attributable to CrowdStrike was $74.8 million, compared to $23.3 million in the first quarter of fiscal 2022. Net cash generated from operations was $215.0 million, compared to $147.5 million in the first quarter of fiscal 2022. Free cash flow was $157.5 million, compared to $117.3 million in the first quarter of fiscal 2022. Cash and Cash Equivalents was $2.15 billion as of April 30, 2022.

Moreover, the company has added 1,620 net new subscription customers in the quarter for a total of 17,945 subscription customers as of April 30, 2022, representing 57% growth year-over-year. CrowdStrike’s subscription customers that have adopted four or more modules, five or more modules and six or more modules increased to 71%, 59%, and 35%, respectively, as of April 30, 2022. Additionally, CrowdStrike customers with seven or more modules reached 19% as of April 30, 2022. CRWD has introduced new adversary-focused Cloud Native Application Protection Platform (CNAPP) capabilities to accelerate threat hunting for cloud environments.

CRWD in the first quarter of FY 23 has reported the adjusted earnings per share of 31 cents, beating the analysts’ estimates for the adjusted earnings per share of 23 cents. The company had reported the adjusted revenue growth of 61 percent to $487.8 million in the first quarter of FY 23, beating the analysts’ estimates for revenue of $463.11 million.

CrowdStrike Holdings Inc. expects Q2 2023 EPS to be in the range of $0.27-$0.28, versus the consensus of $0.24. CrowdStrike Holdings Inc. expects Q2 2023 revenue to be in the range of $512.7-516.8 million, versus the consensus of $509 million.

CrowdStrike Holdings Inc. expects FY2023 EPS to be in the range of $1.18-$1.22, versus the consensus of $1.10. CrowdStrike Holdings Inc. expects FY2023 revenue to be in the range of $2.1905-2.2008 million, versus the consensus of $2.15 million.