Shares in CrowdStrike Holdings Inc. rose more than 5% in late trading today after the cybersecurity company reported a profit and revenue beat and offered guidance ahead of analysts’ expectations.

For the fourth quarter that ended Jan. 31, CrowdStrike reported earnings before costs such as stock compensation of $111.6 million, or 47 cents per share, up from $70.4 million or 30 cents per share in the same quarter of last year. Revenue jumped 48%, to $637.4 million. Analysts had been expecting earnings per share of 43 cents on revenue of $625 million.

Subscription revenue in the quarter also rose 48%, to $598.3 million. As of the end of January, annual recurring revenue was $2.56 billion once again up 48% year-over-year, with $221.7 million in ARR added in the quarter.

Highlights in the quarter include CrowdStrike adding 1,873 net new subscription customers, bringing the total as of Jan. 31 to 23,019 subscription customers, up 41% year-over-year. CrowdStrike’s module adoption rates were 62%, 39% and 22% for five or more, six or more and seven or more modules.

CrowdStrike announced Falcon Surface in December, a new standalone module that features capabilities from its acquisition of Reposify Ltd. The module delivers advanced external attack surface management with enhanced adversary intelligence and real-time discovery of internet exposures.

Falcon Surface uses a real-time 24/7 engine to monitor the entire internet to identify the exposure of known and unknown assets. Scanning is based on domain addresses, with the service claimed to provide unmatched data accuracy with advanced attribution techniques and actionable remediation steps.

For its full fiscal year 2023, CrowdStrike reported an adjusted profit of $1.54 a share, up from 67 cents a share the year prior, on revenue of $2.24 billion, up 54% year-over-year.

“CrowdStrike delivered an exceptional fourth quarter and strong finish to the year,” Burt Podbere, CrowdStrike’s chief financial officer, said in the company’s earnings release. “We remain focused on delivering increased operating leverage while continuing our thoughtful, disciplined and strategic approach to investing in innovation and market share expansion.”

For its first quarter of fiscal 2024, CrowdStrike is predicting an adjusted profit of 50 to 51 cents a share on revenue of $674.9 million to $678.2 million. Analysts were expecting 41 cents and $663.3 million. For its full fiscal 2024 year, the company expects a profit of $2.21 to $2.39 a share on revenue of $2.955 billion to $3.015 billion.

Image: CrowdStrike