CrowdStrike Holdings, Inc (NASDAQ:CRWD) provides cloud-delivered solutions for endpoint and cloud workload protection in the United States, Australia, Germany, India, Israel, Romania, and the United Kingdom. It offers 19 cloud modules on its Falcon platform through a software as a service subscription-based model that covers various security markets, such as corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity protection, and log management. The company primarily sells its platform and cloud modules through its direct sales team. CrowdStrike Holdings, Inc. was incorporated in 2011 and is headquartered in Sunnyvale, California.

CrowdStrike’s strong stock performance is understandable. In its 2021 fiscal year (FY) ended Jan. 31, CrowdStrike delivered $874.4 million in revenue, an 82% year-over-year increase. For FY 2022, CrowdStrike forecasts continued double-digit percentage revenue growth of at least $1.3 billion.

CrowdStrike is a leader in the endpoint protection platform, or EPP, business, providing solutions to help protect internet devices from cyberattacks. Analyst Tal Liani says CrowdStrike management is executing its strategy extremely well, upselling existing customers and adding new ones at an impressive rate. Revenue was up 84% year over year in the last quarter, and the percentage of customers with at least five cloud modules increased to 39%.

CrowdStrike will likely meet or exceed this guidance. It operates in the rapidly expanding cybersecurity sector. Forecasts predict the global cybersecurity market to rise from $184.2 billion last year to $248.3 billion by 2023. This gives CrowdStrike plenty of room to grow despite the droves of cybersecurity competitors in the market.

Along with industry growth as a tailwind, CrowdStrike has attributes to achieve outsized success. The company uses a software-as-a-service (SaaS) pricing model, generating most of its revenue from subscribers to its Falcon cloud-based security platform. The SaaS model gives CrowdStrike reliable recurring revenue, unlike the old software licensing model that dominated the industry before cloud computing transformed how businesses implemented technology infrastructure.

CrowdStrike built its platform from the ground up with a modern architecture designed to deliver security for the cloud. This gives it the advantage over the older rivals/competitors, which spent years adapting existing technology to support cloud computing environments. CrowdStrike saw customer subscriptions increase 82% in FY 2021. The company went from 5,400 subscription customers in FY 2020 to nearly 10,000 at the end of January this year.

CrowdStrike’s growth strategy includes capturing customers from competitors by making it easy to replace existing cybersecurity products. Another key growth engine is CrowdStrike’s international expansion. The company has consistently grown international revenue since going public in 2019. CrowdStrike’s revenue has grown steadily and continues to grow in the long term.

Therefore, CrowdStrike, with a superior product, a strong balance sheet, and phenomenal growth, is a worthwhile investment for long term growth investors.