Tighter IT Budgets Not a Problem for CrowdStrike

Enterprise software companies have been flagging customers tightening the belt on deals, but that doesn’t seem to be weighing on CrowdStrike’s results. CFO Burt Podbere says on a call with analysts that the macro environment is still challenging, but he notes that the company has had larger platform deals, strong win rates and record pipeline levels for the year. Podbere says the company is sticking with prudent assumptions in guidance and says second-quarter guidance assumes year-on-year net new annual recurring revenue growth in the double digits to the low teens. Shares rise 6.8% to $326.24 after-hours.

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