CrowdStrike stock surged after the close after the cybersecurity company beat expectations and raised its outlook.
The company reported second quarter adjusted earnings of 31 cents a share and revenue of $1.47 billion.
Analysts forecast CrowdStrike to report earnings of 29 cents a share and revenue of $1.44 billion.
Shares rose 9% in after-hours trading.
CEO and founder George Kurtz called it the best quarter in CrowdStrike's history, and the company again raised its outlook for growth in annual recurring revenue. "Every enterprise will run on AI, and securing it is the largest market opportunity in our history."
AI adoption is driving structural security demand, and Crowdstrike and rivals such as Palo Alto Networks and Zscaler are seeing the benefits. CrowdStrike earlier guided full-year 2027 revenue to be in a range of $5.915 billion to $5.959 billion, with adjusted earnings in a range of $1.22 to $1.24 a share.
It now sees total revenue for 2027 to be in a range of $5.991 billion to $6.011 billion, and adjusted earnings of $1.25 to $1.26 a share.
Net new second quarter annual recurring revenue reached $332.8 million, and total ARR rose 25% from a year ago, to $5.84 billion.
That came after a record first quarter, when net new annual recurring revenue reached $255.8 million and ending ARR reached $5.51 billion.
This is a developing story. Check back here for more details.