CrowdStrike beats Q2 revenue, buys Onum to boost SIEM

CrowdStrike reported stronger-than-expected second quarter results on Wednesday but tempered enthusiasm with a cautious near-term outlook and a strategic acquisition that signals a deeper push into cloud-native security. The cybersecurity firm said revenue for the quarter ended July 31 rose 21 percent year over year to $1.17 billion and adjusted earnings per share were $0.93, while annual recurring revenue reached $4.66 billion, up about 20 percent from a year earlier.

The top-line and profit beats exceeded Wall Street estimates, which had expected roughly $1.15 billion in revenue and $0.83 in adjusted EPS, but the company’s guidance for the fiscal third quarter on revenue of $1.208 billion to $1.218 billion fell short of some analyst forecasts. Shares slid more than 2 percent in late trading, according to market reports. Investors and analysts had been on alert after mixed signals earlier in the year about growth sustainability and valuation.

CrowdStrike highlighted record net new ARR of $221 million for the quarter and said next-generation cloud, identity and SIEM offerings together now exceed $1.56 billion in ending ARR, driven in part by a nearly 95 percent year-over-year...