CrowdStrike sinks despite beat-and-raise after rally

• CrowdStrike (NASDAQ:CRWD) raises its FY21 revenue outlook to $809.1-826.7M (consensus: $772.72M; prior: $761.2-772.6M) and now expects to deliver positive non-GAAP operating income with net income per share at $0.02-0.08 (consensus: $0.04 loss; prior: $0.05-0.08 loss).
• Subscription revenue was up 89% Y/Y to $184.3M. Subscription gross margin was 78% compared to 76% in last year's quarter.
• ARR totaled $791M with a record net new ARR of $104M.
• The company added 969 net new customers in the quarter.
• For Q3, CRWD guides $210.6-215M in revenue (consensus: $195.88M) and a loss per share of $0.01 to $0 (consensus: $0.05 loss).
• Press release.
• CrowdStrike shares are down 6.4% AH. Shares had rallied 27% in the past week, catching a tailwind from Zoom Video's earnings.
• Previously: CrowdStrike EPS beats by $0.04, beats on revenue (Sep. 02 2020)