According to a recent report, the global endpoint security market is expected to grow at 12% CAGR from $14.63 billion in 2021 to $28.29 billion by 2027. Leading player CrowdStrike (Nasdaq: CRWD) recently announced stellar quarterly results as it continues to acquire in the space.
 

CrowdStrike’s Financials

For the recently reported second quarter, CrowdStrike’s revenues grew 58% to $535.2 million, ahead of the Street’s forecast of $516 million. Annual Recurring Revenue (ARR) increased 59% to $2.14 billion, also ahead of the market’s forecast of $2.11 billion. On an adjusted basis, EPS was $0.36, compared with the market’s forecast of $0.28.

Subscription revenues grew 60% to $506.2 million. Professional services for the quarter grew 33% to $29 million.

Among key metrics, it added 1,741 net new subscription customers and ended with a total of 19,686 subscription customers as of July end, reflecting a growth of 51%. CrowdStrike’s subscription customers, who adopted five or more cloud modules, grew to 59%, those with six or more cloud modules rose to 36%, and those with seven or more cloud modules jumped to 20% as of July.

For the current quarter, CrowdStrike expects revenue of $569-$575.9 million and an adjusted net income per share of $0.30-$0.32. It expects to end the year with revenues of $2.191-$2.206 billion and a net income of $1.31-$1.33 per share.
 

CrowdStrike’s Reposify Acquisition

Recently, CrowdStrike announced the acquisition of San Francisco-based Reposify, an external attack surface management (EASM) platform provider, for an undisclosed sum. Reposify was set up in 2017 by Yaron Tal to help organizations manage their external attack surfaces by providing complete and continuous visibility and actionable insight at scale. Its core technology leverages databases of internet-facing assets to help organizations get a complete view of their external attack surface.

CrowdStrike realizes that traditional models take an inside-out approach to risk management. Unfortunately, that approach does not account for how a threat actor may view the external attack surface. Reposify’s technology delivers an outside-in perspective of an organization’s global external risk, thus providing deeper visibility into what connected devices are vulnerable and most likely to be targeted. CrowdStrike plans to integrate Reposify’s offerings with its Threat Intelligence product suite to provide its customers with access to a differentiated EASM experience that combines deep insights on endpoints and IT environments with internet scanning capabilities and delivers a complete view across internal and external attack surfaces. CrowdStrike will also leverage Reposify’s capabilities to bolster its Security and IT Operations product suite. Prior to the acquisition, Reposify had raised $8.5 million in seed funding. Reposify does not report its financial performance details.

Meanwhile, CrowdStrike’s stock is trading at $171.88 with a market capitalization of $40.6 billion. It hit a 52-week high of $298.48 in November last year and a 52-week low of $130 in May.

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