CrowdStrike Holdings Inc. shares rallied in the extended session Wednesday after the cybersecurity company’s results and outlook both exceeded Wall Street expectations.
CrowdStrike CRWD, -3.83% shares surged as much as 10% after hours, following a 3.8% decline in the regular session to close at $141.84.
The company reported a fiscal third-quarter loss of $24.5 million, or 11 cents a share, compared with a loss of $35.5 million, or 17 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 8 cents a share, compared with a loss of 7 cents a share in the year-ago period.
Revenue rose to $232.5 million from $125.1 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast CrowdStrike to break even on a per-share basis on revenue of $213.5 million, based on the company’s outlook of a loss of a penny a share to break even on revenue of $210.6 million to $215 million.
“CrowdStrike delivered a record third quarter with results exceeding our expectations across the board,” said George Kurtz, CrowdStrike co-founder and chief executive, in a statement.
Annual recurring revenue, a software-as-a-service metric that shows how much revenue the company can expect based on subscriptions, increased 81% to $907.4 million for the quarter, while the Street expected $853.8 million.
CrowdStrike expects adjusted fiscal fourth-quarter earnings of 8 cents to 9 cents a share on revenue of $245.5 million to $250.5 million, while analysts forecast earnings of a penny a share on revenue of $231.4 million, according to FactSet.
As of Wednesday’s close, the stock is up 184% for the year, compared with a 14% rise by the S&P 500 index SPX, +0.17%, a 38% gain for the tech-heavy Nasdaq Composite Index COMP, -0.04%, and a 22% advance by the ETFMG Prime Cyber Security ETF HACK, -0.04%.