Shares of CrowdStrike Holdings (CRWD  ) were up during trading on Tuesday after the company's quarterly report came out well ahead of Wall Street's expectations. The company adjusted its outlook after its impressive quarter, with a large part of the company's success owed to the coronavirus pandemic and the rise of remote work.

CrowdStrike came out well ahead of Wall Street's expectations in Q1. Initially, analysts had forecasted an adjusted loss of $0.06 per share with revenue of around $165.4 million based on CrowdStrike's projections. CrowdStrike's first quarter saw earnings of $0.02 per share, the first instance of adjusted quarterly profit for the company, and reported revenue of $178.1 million.

CrowdStrike improved its guidance after its exceptional Q1 report, forecasting an adjusted loss of $0.08 to $0.05 a share and revenue of $761.2 to $772.6 million. The company's previous yearly guidance was an adjusted loss of $0.14 to $0.10, with revenue of $723.3 to $733.5 million.

Shares of the company have been up since the announcement, with shares up 5% in extended trading after the report. The cybersecurity firm also saw a sizable 9% bump during pre-market trading on Wednesday.

CrowdStrike's success was due mainly to the large scale transition to remote work amid the coronavirus pandemic; CrowdStrike's cloud-based approach to cybersecurity makes the company's services more accessible to clients, as the company's software is available from anywhere, rather than solely from a client's servers.

The company also seems poised to leap on what it sees as a new trend for the American workplace going forward, a "hybrid environment" where work will be split between home and the office. Already, major companies such as Twitter (TWTR  ) have stated their intent to allow employees to work from home indefinitely. At the same time, competitor Facebook (FB  ) is set to allow at least half of its employees to continue working from home.

"I don't call it work from home. I call it work from anywhere, and that's a movement," said CrowdStrike CEO George Kurtz during an interview on CNBC's Mad Money. "Really, that's a subset of digital transformation and digital transformation is not a one-time hit. It's a very sustainable trend."