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Artificial intelligence (AI) could pave the way for dramatic productivity improvements and even help cure life-threatening diseases. This incredible tech movement is still just starting to affect the world.

At the same time, AI is also being used by bad actors to carry out cyberattacks that have the potential to be hugely destabilizing. The scale and capabilities of these AI-powered cyberattacks will continue to evolve. Thankfully, top cybersecurity companies have scale and resource advantages that should help them combat the rising tide of threats. And the increasing importance of shutting down such threats suggests that investors have opportunities to score big long-term wins.

If you're looking for stocks that can help you capitalize on surging AI and cybersecurity trends, CrowdStrike (CRWD -0.41%) looks like a great stock to consider right now.

CrowdStrike's core service is providing software that prevents hardware devices from being used to attack networks. The company's cloud-based Falcon platform uses AI and machine-learning technologies to fend off threats and adapt to new forms of attacks. Falcon offers best-in-class protections, and demand for its capabilities is surging.

Not only is the cybersecurity specialist continuing to attract new customers, it's also seeing increased spending from existing customers. Right now, 63% of customers use five or more of the company's more than two dozen modules. Meanwhile, 42% of customers use at least six modules, and 26% of its client base uses at least seven.

For comparison, 60% of customers were using at least five or more modules, 36% used at least six modules, and 21% used at least seven at the end of last year's third quarter. Expanded spending from Falcon customers suggests that the platform is delivering high performance and value.

Thanks to customer additions and strong net revenue retention, CrowdStrike's sales climbed 35% year over year to reach $786 million in the third quarter. Meanwhile, non-GAAP (adjusted) net income more than doubled to hit $199.2 million.

But while CrowdStrike has been using efficiency initiatives to help boost its earnings, the company hasn't been skimping on research and development (R&D) spending. The company's R&D spending jumped 38% annually across its last three reported quarters to reach $410 million.

CrowdStrike continues to invest heavily to spur initiatives capable of generating long-term growth and fortifying its competitive positioning in the cybersecurity space.

CrowdStrike has generated $655 million in free cash flow across the first three quarters of its current fiscal year, up 40% year over year. The company's free-cash-flow generation across the stretch comes in at roughly 30% of revenue across the period -- a very impressive performance.

Even better, the company sees room for continued margin expansion over the long term. With time, company management believes that CrowdStrike can consistently hit a subscription gross margin between 82% and 85%. Meanwhile, it expects to reach an operating income margin between 28% and 32% and a free cash flow margin between 34% and 38%.

CRWD PE Ratio (Forward) data by YCharts

Even with the stock trading at 93 times this year's expected earnings, CrowdStrike looks attractively valued. The business is posting impressive growth, and excellent margins combined with a favorable long-term demand outlook suggest that the stock can continue to serve up wins for long-term investors.

The need for high-performance cybersecurity services will only continue to grow. CrowdStrike's leadership position in AI-enhanced protections puts the company in a good position to benefit as demand continues to increase and industry consolidation trends funnel sales to top players in the space.

For long-term investors interested in capitalizing on the intersection of powerful AI and cybersecurity demand tailwinds, CrowdStrike stock has the makings of a massive long-term winner.

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1 Artificial Intelligence (AI) Growth Stock to Buy Hand Over Fist in 2024 - The Motley Fool