CrowdStrike's (NASDAQ: CRWD) stock price has more than doubled over the past three years. The cybersecurity company impressed investors with the rapid growth of its cloud-native Falcon platform, which eliminated the need for on-site appliances.

That approach, which was cheaper and easier to scale as an organization expanded, caught on like wildfire. Between fiscal 2020 and fiscal 2023 (which ended this January), CrowdStrike's annual revenue grew at a compound annual growth rate (CAGR) of 67% as its total number of subscription customers surged from 5,431 to 23,019.

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Source Fool.com