FMP
CrowdStrike Holdings, Inc. Posted Q2 Beat/Raise, But ARR Growth is Slowing
Sep 1, 2021 11:00 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares were trading 3% lower today, despite the company posted Q2 beat and raise on Tuesday.
The company delivered Q2 revenue of $337.7 million beating the consensus estimate of $323.13 million. Annual Recurring Revenue (ARR) was $1.34 billion, representing an increase of 70% year-over-year, with a record net new ARR of $150.6 million.
The company’s management raised its full 2022-year EPS guidance to $0.43-$0.49, beating the Street expectation of $0.40, and revenue guidance to $1.391-1.408 billion, compared to the consensus estimate of $1.36 billion.
The company’s shares dropped despite the quarterly beat, as investors are concerned about the growth of ARR. New business ARR of $157 million in Q2 represents a growth of 45% year-over-year, which is lower compared to the previous quarter's 63% growth.
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