CrowdStrike Holdings Inc (CrowdStrike (CRWD)) reported its fiscal first-quarter results after the bell on Wednesday, and the numbers were solid across the board. The cybersecurity company beat analyst expectations on both revenue and earnings, raised its full-year guidance, and announced a stock split. But shares still took a hit in after-hours trading, dropping nearly 9%.

Q1 Earnings: The Numbers

For the quarter ended April 30, CrowdStrike posted revenue of $1.39 billion, topping the consensus estimate of $1.36 billion. Adjusted earnings came in at $1.10 per share, also above the $1.07 analysts were looking for. Revenue grew 26% year-over-year, with subscription revenue hitting $1.32 billion — also up 26%. Annual recurring revenue (ARR) rose 24% to $5.51 billion, as the company added $255.8 million in net new ARR during the quarter.

CrowdStrike generated $590.9 million in cash from operations and $468.5 million in free cash flow. It ended the period with $4.55 billion in cash and equivalents.

CEO George Kurtz: 'The Mythos Moment'

CEO George Kurtz framed the quarter as a turning point for the company, tying its success to the convergence of cybersecurity and artificial intelligence. "In Q1, the worlds of cybersecurity and frontier AI collided: this was the Mythos moment. CrowdStrike is AI security infrastructure, critical to successful AI adoption," Kurtz said in a statement. He pointed to record net new ARR, the company's QuiltWorks coalition, and its AIDR innovation as evidence of an "AI inflection point."

"We're seeing platform adoption from existing customers, new logo lands, and increased partner engagement, each giving me the conviction to significantly raise our FY27 net new ARR guidance," Kurtz added.

Guidance: Raised Across the Board

CrowdStrike's outlook for the current quarter and full year also came in ahead of expectations. For the fiscal second quarter, the company expects revenue between $1.436 billion and $1.442 billion, versus the $1.434 billion consensus. Adjusted earnings per share are seen at $1.16 to $1.17, compared to estimates of $1.16.

For the full fiscal year 2027, CrowdStrike raised its revenue guidance from a prior range of $5.87 billion to $5.93 billion to a new range of $5.92 billion to $5.96 billion. Analysts were expecting $5.89 billion. The company also lifted its adjusted earnings forecast from $4.78-$4.90 per share to $4.88-$4.96 per share, versus the $4.86 consensus.

Stock Split: 4-for-1

In a move that will make shares more accessible to retail investors, CrowdStrike's board approved a four-for-one stock split. Shareholders of record as of the close of business on June 25 will receive three additional shares for every one share they hold. The stock is expected to begin trading on a split-adjusted basis on July 2.

After-Hours Dip

Despite the beat-and-raise and the stock split announcement, CrowdStrike shares fell 8.68% in after-hours trading on Wednesday, trading at $681.20 at the time of publication. The move may reflect profit-taking after a strong run or disappointment that the beat wasn't bigger — a common pattern for high-growth stocks.

CrowdStrike executives will discuss the quarter in more detail on an earnings call scheduled for 5 p.m. ET.