CrowdStrike Projected to Achieve Full-Year Profitability in 2024

According to Visible Alpha consensus, cloud-based security company CrowdStrike Holdings (NASDAQ: CRWD) is on track to achieve full-year profitability in 2024. The company is expected to mark its first profitable quarter in the first quarter of 2024, with a projected net income (GAAP) of $0.5 million. For the full year, CrowdStrike is projected to generate net income of $64 million in 2024, up from a net loss of -$182 million last year.

Analysts expect this to be driven by continued growth momentum in the security company’s revenue and annual recurring revenue (ARR) numbers. In 2024, revenue is expected to grow by +36% year over year, reaching $3 billion, while ARR is forecasted to reach $3.4 billion, up +33% year over year.

Sector: Technology
Industry: Systems Software
VA Ticker(s): CRWD_US