CrowdStrike (CRWD) Q1 2027 earnings

CrowdStrike Narrowly beat Wall Street first quarter of fiscal year The estimates came after the bell on Wednesday, but shares fell 10% following the report.

The company’s performance according to LSEG forecasts is as follows:

• earnings per share: $1.10 vs expected $1.07
• Revenues: Estimate of $1.39 billion and $1.36 billion

The cybersecurity company said its revenue was up 26% from a year ago. Net income totaled approximately $27.8 million, or 11 cents per share. That’s up from last year’s net loss of $104.3 million, which was a loss of 42 cents per share.

CrowdStrike also announced a four-for-one stock split, effective in July. Shares closed at $747.61 on Wednesday.

CEO George Kurtz said the company is benefiting from an “AI inflection point” fueled by increased adoption of its customer platform.

“In the first quarter, the worlds of cybersecurity and edge AI collided: this was the Mythos moment,” he said in a press release. “CrowdStrike is the AI ​​security infrastructure critical to the successful adoption of AI.”

CrowdStrike is among a wave of cybersecurity companies profiting from the skyrocketing demand for cyber tools as advanced models like Anthropic’s Mythos threaten to increase the pace of cyber attacks.

The industry has also managed to stave off recent AI outage concerns that plagued software names earlier this year. CrowdStrike is up nearly 60% this year.

Kurtz told analysts on Wednesday’s earnings call that AI detection and response, or AIDR, is emerging as a new growth vector for CrowdStrike. He said the second-quarter pipeline already exceeds $50 million.

“Think of CrowdStrike as the picks and shovels of the world’s greatest tech gold rush of all time,” he said.

CrowdStrike is an early tester of Anthropic’s Mythos through Project Glasswing. The AI ​​lab has given selected companies early access to the model amid fears that hackers could use it to devastating effect if it is released globally.

To meet the rise of agent AI, CrowdStrike and its rivals are also on an acquisition spree, scaling AI capabilities as customers reevaluate their cybersecurity strategies.

Its latest move included a $740 million deal for identity security startup SGNL and AI security startup Pangea.

CrowdStrike expects revenue of approximately $1.44 billion in the current quarter; That’s roughly in line with LSEG’s estimate of $1.43 billion. The company also raised its forecast for fiscal 2027 net new annual recurring revenue growth to between $6.53 billion and $6.56 billion.