Crowdstrike reported its fiscal second-quarter loss that was narrower than analysts' estimates, thanks to strength in recurring subscriptions of its cloud-based security systems.
The cloud-based cybersecurity company’s non-GAAP net loss came in at - 18 cents a share, which was better than analysts’ forecasted loss of -23 cents a share (based on FactSet survey of analysts). The loss was also smaller than the year-ago quarterly loss of -69 cents a share.
Revenue of $108.1 million was slightly below the $111.1 million expected by analysts.
Subscription revenue surged to $97.6 million in the quarter, from the prior year quarter’s $49.2 million.
CEO George Kurtz cited customer growth acceleration for CrowdStrike's cloud-native Falcon platform as a major reason behind the improving performance in the quarter.
Looking ahead, Crowdstrike expects its full-year fiscal 2020, to incur a non-GAAP net loss of between $93.5 million and $97.9 million, (or between -62 cents and -65 cents a share), on revenue of between $445.4 million and $451.8 million. Analysts had predicted a loss of -71 cents a share for the fiscal year.