Shares of cloud-based cybersecurity company CrowdStrike Holdings Inc (NASDAQ:CRWD) are trading higher Wednesday on the heels of the company’s first-quarter results. Here’s what you need to know.
Q1 Revenue: $921 million, versus estimates of $904.66 million
Q1 EPS: 93 cents, versus estimates of 89 cents
Total revenue was up 33% on a year-over-year basis. Annual recurring revenue also increased 33% year-over-year to $3.65 billion after the company added $211.7 million of net new ARR in the first quarter. Net cash generated from operations was $383.2 million and free cash flow came in at $322.5 million. CrowdStrike ended the quarter with $3.7 billion in cash, equivalents and short-term investments.
“The Falcon platform’s differentiated architecture creates a wide competitive moat and uniquely enables CrowdStrike to solve the industry’s biggest cybersecurity, IT …
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