watch nowCrowdStrike narrowly beat Wall Street's fiscal first-quarter estimates after the bell on Wednesday, but shares dropped 9% following the report.Here's how the company did versus LSEG estimates:Earnings per share: $1.10 adjusted vs. $1.07 expectedRevenue: $1.39 billion vs. $1.36 billion estimateThe cybersecurity company said revenue grew 26% from a year ago. Net income totaled about $27.8 million, or 11 cents per share. That's up from a net loss of $104.3 million, a loss of 42 cents per share, last year. CrowdStrike also announced a four-for-one stock split effective in July. Shares closed at $747.61 on Wednesday.CEO George Kurtz said the company is benefiting from an "AI inflection point" fueled by rising customer platform adoption."In Q1, the worlds of cybersecurity and frontier AI collided: this was the Mythos moment," he said in a press release. "CrowdStrike is AI security infrastructure, critical to successful AI adoption."CrowdStrike is among a wave of cybersecurity companies profiting from skyrocketing demand for cyber tools as advanced models such as Anthropic's Mythos threaten to accelerate the pace of cyberattacks. The sector has also managed to shake off recent AI disruption concerns that rattled software names earlier this year. CrowdStrike is up about 60% this year. Read more CNBC tech newsMeta is trying to sell AI agents to businesses in latest effort to diversify away from adsSpaceX targets fixed $135 IPO roadshow price at $1.75 trillion valuation, source saysOpenAI CEO Sam Altman to meet with lawmakers, Trump officials in D.C.Tesla's China-made EV sales jump nearly 40% in May as domestic market reboundsCrowdStrike is also testing Anthropic's Mythos through Project Glasswing. The AI lab gave several companies early access to the model for testing, amid fears that hackers could use it to devastating effect. To meet the rise of agentic AI, CrowdStrike and its competitors have also been on a massive acquisition spree, scaling AI capabilities as customers reconsider their cybersecurity strategies. Its latest push included a $740 million deal for identity security startup SGNL and AI security startup Pangea.CrowdStrike expects revenue of about $1.44 billion in the current quarter, which was roughly in line with a $1.43 billion estimate from LSEG. The company also lifted its fiscal 2027 net new annual recurring revenue growth forecast to between $6.53 billion and $6.56 billion.Stock Chart IconStock chart iconCrowdstrike year-to-date stock chart.