CrowdStrike had a solid quarter increasing its revenue by 53% year-over-year, surpassing Wall Street expectations. In the enterprise, sales cycles or average days to closure remain marginally higher than the previous quarter. These larger customers prioritized their CrowdStrike expenditures in Q3. Still, some also had to deal with timing difficulties for OpEx budgets and cash flow in the wake of the macroeconomic environment’s fast change. The company also had a successful third quarter for their SLED business, with the U.S. state government standardizing on CrowdStrike, as well as wins and expansion across numerous U.S. state and local government agencies and educational institutions. Another driver of growth was the Falcon Complete LAN, with one of the largest U.S. federal agencies now relying exclusively on the Falcon platform. Furthermore, LogScale experienced another solid quarter in Q3 thanks to their wins in the financial services, insurance, technology, retail, energy, and telecommunications industries. The company delivered an earnings beat as well. The management went on to acquire Reposify to help their clients identify and remove risk from exposed and unidentified assets before an attacker can take advantage of them. We give the company a ‘Buy’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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