CrowdStrike (NASDAQ: CRWD) topped revenue estimates for the second quarter of 2020 while loss came in narrower-than-expected. Analysts had forecast a loss of $0.23 per share on revenues of $103.58 million. Shares fell over 8% in aftermarket hours on Thursday.
Total revenue increased 94% to $108.1
million compared to the same period a year ago.
GAAP net loss was $51.9 million, or $0.40 per share, compared to $32.9 million, or $0.75 per share, in the prior-year quarter. Adjusted net loss was $23.1 million, or $0.18 per share.
Subscription revenue jumped 98% year-over-year to $97.6 million.
Professional services revenue increased 61% to $10.5 million. Annual Recurring
Revenue (ARR) rose 104% to $423.8 million, of which $59.2 million was net new
ARR added in the quarter.
During the quarter, the company added 730 net new subscription customers for a total of 3,789 subscription customers at quarter-end. As of July 31, 2019, 50% of CrowdStrike’s subscription customers have adopted four or more cloud modules.
For the third quarter of 2020, CrowdStrike expects total revenue of $117.1-119.5 million. Adjusted net loss is expected to range from $24.8-23.2 million and adjusted loss per share is expected to be $0.12-0.11.
For the full year of 2020, the company expects revenues of $445.4-451.8 million, adjusted loss of $95.3-90.8 million and adjusted loss per share of $0.65-0.62.
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