Cybersecurity specialist CrowdStrike Holdings estimated on Wednesday that it suffered a loss of about $60 million in its sales pipelines last month after botched handling of a software update caused a technical breakdown that stranded thousands of people in airports, among other annoying glitches.

Although the massive outage spooked customers who were scheduled to close $60 million in deals in the final weeks of CrowdStrike’s second fiscal quarter, executives at the Austin, Texas-based company predicted the company would be able to close those deals before the end of its fiscal year in January 2025 because customers still had confidence in the company’s cybersecurity products despite the July 19 faux pas that froze machines running Windows software.

“Our mission is alive and well, and I know CrowdStrike’s best days are ahead of us,” George Kurtz, CEO of CrowdStrike, told analysts during a conference call covering the April-July period. He also apologized for the company’s role in an outage that “will not be lost on him, and I will make sure it never happens again. The days following the incident were some of the most difficult of my career because I deeply empathized with what our customers were experiencing.”

Kurtz’s reassuring comments, coupled with quarterly earnings that beat analysts’ forecasts, appeared to calm investors who had been buying up CrowdStrike shares in recent weeks after initially dumping the stock following the chaos, which the company blamed on a computer glitch. Shares rose slightly in extended trading Wednesday, leaving them 13% below levels before the technical outage — a loss of about $10 billion in market value. Earlier this month, CrowdStrike shares plunged nearly 25%, a loss of more than $20 billion in market value.

Even if the $60 million in deals CrowdStrike was hoping to close before the tech crash never materialize, it would be a small price to pay compared to the huge bills facing people affected by the outage.

Delta Air Lines, for example, estimates it owes customers $380 million after the outage caused by CrowdStrike messed up its computer systems so badly that it had to cancel around 7,000 flights. Delta has threatened to sue CrowdStrike, which insists the airline is using the technical outage as an excuse for its own mistakes.

CrowdStrike did not provide an estimate of legal costs that might arise from the outage, but said the bills are unlikely to be too high.

“Our customer agreements contain provisions limiting our liability, and we maintain insurance policies designed to mitigate the potential impact of certain claims,” ​​said Burt Podbere, CrowdStrike’s chief financial officer, during Wednesday’s conference call.