US based cybersecurity provider Crowdstrike reported Q1 FY23 earnings last Thursday, posting impressive YoY revenue growth of 61% and exceeding its guidance and analyst expectations.
Crowdstrike provide a broad range of cloud-delivered cybersecurity solutions across Endpoint management, detection and response, identity protection, cloud security and advanced threat solutions, and are a key partner for many IT managed service providers.
Total revenue in Q123 was
The company also continues to announce new strategic partnerships, the latest with Mandiant and Cloudflare, and have also introduced a new adversary-focused Cloud Native Application Protection Platform (CNAPP) to accelerate threat hunting for cloud environments. Crowdstrike is guiding for FY23 revenue of around $2.2bn at the midpoint, which would represent YoY growth of around 52%.
Crowdstrike continue to be one of the most dominant vendors in the cybersecurity space, though are facing increased competition from the likes of Microsoft who are heavily investing in security solutions. Crowdstrike’s solutions, while very comprehensive, do often come with a price premium, and with many customers getting Microsoft security tools already built into licenses the justification for additional high-cost solutions on top will be increasingly challenging for many organisations.
Posted by: Simon Baxter at 09:36
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