Crowdstrike Q1 - Bullish On Cybersecurity

Late last week, cybersecurity company CrowdStrike released quarterly results which looked impressive. Annual recurring revenues (ARR) seems to be the metric that analysts really pay attention to here, because it looks at locked-in clients and excludes consulting jobs that were once off in nature. ARR grew 61% year over year, resulting in a 61% growth in revenues and a 46% increase in cash flow from operations.

Guidance was also increased. For the full year 2023 they expect net income of around $310 million. This is not a pie in the sky business that could one day be profitable, it's the real deal.

The company now has 17 945 business subscribers after adding 1 620 in the quarter. The average ongoing customer pays for at least four or more modules. They are selling new products to existing clients very well too.

Ransomware attacks are up 337% from 2019. The world needs companies like CrowdStrike to do well. We are happy to hop on board for the ride, knowing that the money is supporting a good cause while potentially making great returns.