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With earnings season behind us (for my portfolio, that is), I wanted to share my thoughts on several holdings that reported strong quarters. Here is the high-level review:
$CRWD - Several people here have discussed the company now tracking customers with 7+ modules. This speaks for the quality of the platform and the strong demand for the products.
$ESTC - Quarter was strong but they are spending a high percentage of revenue (50%) and gross profit (70%!) on sales & marketing. Otherwise, results were solid.
$MDB - Huge beat on earnings. Atlas growth has accelerated year-over-year. Still a pricey stock in my opinion.
$VEEV - Beat and raise. Veeva Data Cloud is bringing some quality new features to the platform. Business as usual for Veeva.
More in-depth thoughts here:
ninetofiveinvesting.substack.com
Earnings Review 5/31 - 6/3
Review of earnings for the week ending 6/3 - $CRWD, $ESTC, $MDB, $VEEV
"More impressively, customers adopting four, five, and six or more modules grew to 71%, 59% and 35%. More impressive still is the fact that they are now announcing the number of customers adopting seven or more modules (19%). This is an incredible demonstration of Crowdstrike growing with their customers. Oh, and management raised full-year 2023 guidance across the board. There’s a lot to like here."
Wow, they are killing it.
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