CrowdStrike Holdings Inc. (CRWD) delivered the kind of quarterly report that makes investors happy Tuesday evening, beating estimates on both the top and bottom lines while raising its outlook for the rest of the year.

The Quarter in Numbers: The cybersecurity company reported third-quarter revenue just above $1.23 billion, topping analyst estimates of around $1.22 billion. Adjusted earnings came in at 96 cents per share, beating the 94-cent consensus.

The growth story remains strong. Total revenue climbed 22% year-over-year, while subscription revenue—the recurring stuff that investors love—grew 21% to $1.17 billion. Annual recurring revenue increased 23% to $4.92 billion after CrowdStrike added $265.3 million of net new ARR in the quarter.

Cash flow looked healthy too. The company generated $397.5 million in net cash from operations and $295.9 million in free cash flow, ending the quarter with $4.80 billion in cash and equivalents.

"CrowdStrike is the enabler of secure AI transformation with the right architecture, the right products, and the right execution," said George Kurtz, founder and CEO. "Q3 was one of our best quarters in company history."

Looking Ahead: The guidance raise is where things get interesting. CrowdStrike expects fourth-quarter revenue between $1.29 billion and $1.30 billion versus estimates of $1.293 billion, with adjusted earnings of $1.09 to $1.11 per share compared to the $1.08 consensus.

For the full year, the company now expects revenue of $4.797 billion to $4.807 billion, up from prior guidance of $4.749 billion to $4.805 billion. Analysts had been looking for $4.784 billion. Full-year adjusted earnings guidance also got a bump, rising from $3.60 to $3.72 per share to a new range of $3.70 to $3.72 per share versus estimates of $3.67.

"We are capitalizing on the AI-driven demand environment as customers consolidate on the Falcon platform, driving our pipeline to an all-time high," said Burt Podbere, CFO of CrowdStrike.

The management team was set to discuss the results in more detail during an earnings call at 5 p.m. ET.

Market Reaction: CrowdStrike shares were up 0.28% in after-hours trading Tuesday, changing hands at $518 at the time of publication.