FILE PHOTO: CrowdStrike logo is seen in this illustration taken July 29, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Cybersecurity firm Crowdstrike forecast first-quarter revenue slightly below estimates, as it grapples with weak spending on its cybersecurity products.
Shares of the Austin, Texas-based company fell 6% in extended trading.
Enterprise clients have kept a tight leash on critical security expenditures, as high inflation and signs of an uncertain macroeconomic environment pressure their overall budgets.
Crowdstrike expects first-quarter revenue between $1.10 billion and $1.11 billion, the midpoint of which is slightly below analysts' estimates of $1.11 billion according to data compiled by LSEG.
The company expects revenue for 2026 to be between $4.74 billion and $4.81 billion, in line with estimates.
Crowdstrike's results are in contrast with its competitors, Palo Alto Networks and Fortinet, who had forecast annual revenue above estimates last month.
It posted revenue of $1.06 billion, compared with analysts' estimates of $1.03 billion, for the fourth quarter ending January 31.
(Reporting by Kritika Lamba in Bengaluru; Editing by Krishna Chandra Eluri)
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