Subj : CrowdStrike just reported its best ever financial results  but
To   : All
From : TechnologyDaily
Date : Thu Aug 29 2024 11:45:05

CrowdStrike just reported its best ever financial results  but 
unsurprisingly, it's not going to last

Date:
Thu, 29 Aug 2024 10:38:11 +0000

Description:
CrowdStrike reports encouraging results, but effects of global outage may 
harm future reports.

FULL STORY
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CrowdStrike has revealed strong results for its latest financial quarter, but 
has warned the next few months may not be as rosy as the company continues to 
deal with the fallout of its global outage earlier this year. 

In its Q2 2025 results, the company reported revenue growth of 32% year over 
year, with a GAAP net income of $47 million compared to $8.47 million in the 
same period last year. 

Total revenue this quarter was $963.9 million, and subscription revenue was 
$918.3 million - a 33% increase on the same period last year - but 
CrowdStrike has warned the next few earnings reports could be slightly 
trickier. As it stands 

 The company was at the heart of a worldwide Windows outage earlier this 
year, which cost Fortune 500 companies (excluding Microsoft) an estimated 
$5.4 billion. 

The outage occurred on July 19 2024, meaning it was in the final two weeks of 
the quarter, so these latest results dont reflect the recent difficulties 
CrowdStrike has suffered, meaning the fallout will likely be delayed into 
coming financial cycles. 

Working with customers to recover from the July 19th incident, we emerge as 
an even more resilient and even more customer-obsessed CrowdStrike, 
continuing to aggressively invest in innovation", noted George Kurts, 
Crowdstrikes chief executive officer and co-founder. 

"Our second quarter demonstrates the resilience of our business and platform. 

The company's full-year revenue guidance does include an estimated $30 
million subscription revenue impact in each of the remaining fiscal quarters 
as a result of the outage, as well as an estimated high single-digit millions 
to professional services revenue in the second half of the fiscal year. 

CrowdStrike also faces other aspects of fallout from the incident, with a 
lawsuit from Delta Airlines looming after the outage cost the airline an 
estimated $350-500 million in revenue. 

Microsoft recently revealed it will soon be hosting a major security event 
alongside CrowdStrike that will see it reveal more about the outage. The 
event will mark the first time the two companies have jointly spoken publicly 
about the outage, which took millions of devices offline and caused havoc for 
organizations across the globe. More from TechRadar Pro Here are our best 
encryption software tools to keep your business protected Delta CEO says 
CrowdStrike IT outage will cost airline $500m Take a look at our pick of the 
best antivirus software out there



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Link to news story:
https://www.techradar.com/pro/crowdstrike-just-reported-its-best-ever-financia
l-results-but-unsurprisingly-it-s-not-going-to-last


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