- Ending ARR grows 34% year-over-year to reach $3.44 billion
- Net new ARR growth accelerates to 27% year-over-year and reaches a record $282 million
- Achieves fourth consecutive quarter of both record GAAP and non-GAAP net income
- Delivers record operating and free cash flow
AUSTIN, Texas–(BUSINESS WIRE)–CrowdStrike Holdings, Inc. (Nasdaq: CRWD), a global cybersecurity leader that provides cloud-delivered protection of endpoints, cloud workloads, identity and data, today announced financial results for the fourth quarter and fiscal year 2024, ended January 31, 2024.
“CrowdStrike delivered an exceptionally strong and record fourth quarter with net new ARR growth accelerating to 27% year-over-year, reaching a new high of $282 million and ending ARR growing 34% year-over-year to reach $3.44 billion,” said George Kurtz, CrowdStrike’s president, chief executive officer and co-founder. “Customers favor our single platform approach, standardizing on CrowdStrike for cloud security, identity protection, and LogScale next-gen SIEM solutions, together representing more than $850 million of ending ARR. CrowdStrike is cybersecurity’s consolidator of choice, innovator of choice, and platform of choice to stop breaches.”
Commenting on the company’s financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “Highlights of the fiscal year included, ending ARR growing 34%, four consecutive quarters of GAAP net income, 104% non-GAAP net income growth and free cash flow margin of 31%, exceeding our target for the year. Our achievements in fiscal 2024 represent another high-water mark for CrowdStrike and we remain relentlessly focused on profitably scaling the business to $10 billion ARR and beyond.”
Fourth Quarter Fiscal 2024 Financial Highlights
- Revenue: Total revenue was $845.3 million, a 33% increase, compared to $637.4 million in the fourth quarter of fiscal 2023. Subscription revenue was $795.9 million, a 33% increase, compared to $598.3 million in the fourth quarter of fiscal 2023.
- Annual Recurring Revenue (ARR) increased 34% year-over-year and grew to $3.44 billion as of January 31, 2024, of which $281.9 million was net new ARR added in the quarter.
- Subscription Gross Margin: GAAP subscription gross margin was 78%, compared to 75% in the fourth quarter of fiscal 2023. Non-GAAP subscription gross margin was 80%, compared to 77% in the fourth quarter of fiscal 2023.
- Income/Loss from Operations: GAAP income from operations was $29.7 million, compared to a loss of $61.5 million in the fourth quarter of fiscal 2023. Non-GAAP income from operations was $213.1 million, compared to $95.6 million in the fourth quarter of fiscal 2023.
- Net Income/Loss Attributable to CrowdStrike: GAAP net income attributable to CrowdStrike was $53.7 million, compared to a loss of $47.5 million in the fourth quarter of fiscal 2023. GAAP net income per share attributable to CrowdStrike, diluted was $0.22, compared to a loss of $0.20 in the fourth quarter of fiscal 2023. Non-GAAP net income attributable to CrowdStrike was $236.2 million, compared to $111.6 million in the fourth quarter of fiscal 2023. Non-GAAP net income attributable to CrowdStrike per share, diluted, was $0.95, compared to $0.47 in the fourth quarter of fiscal 2023.
- Cash Flow: Net cash generated from operations was $347.0 million, compared to $273.3 million in the fourth quarter of fiscal 2023. Free cash flow was $283.0 million, compared to $209.5 million in the fourth quarter of fiscal 2023.
- Cash, Cash Equivalents and Short-term Investments was $3.47 billion as of January 31, 2024.
Full Year Fiscal 2024 Financial Highlights
- Revenue: Total revenue was $3.06 billion, a 36% increase, compared to $2.24 billion in fiscal 2023. Subscription revenue was $2.87 billion, a 36% increase, compared to $2.11 billion in fiscal 2023.
- Subscription Gross Margin: GAAP subscription gross margin was 78% in fiscal 2024, compared to 76% in fiscal 2023. Non-GAAP subscription gross margin was 80%, compared to 78% in fiscal 2023.
- Income/Loss from Operations: GAAP loss from operations was $2.0 million, compared to a loss of $190.1 million in fiscal 2023. Non-GAAP income from operations was $660.3 million, compared to $355.6 million in fiscal 2023.
- Net Income/Loss Attributable to CrowdStrike: GAAP net income attributable to CrowdStrike was $89.3 million, compared to a loss of $183.2 million in fiscal 2023. GAAP net income per share attributable to CrowdStrike, diluted, was $0.37, compared to a loss of $0.79 in fiscal 2023. Non-GAAP net income attributable to CrowdStrike was $751.8 million, compared to $368.4 million in fiscal 2023. Non-GAAP net income attributable to CrowdStrike per share, diluted, was $3.09, compared to $1.54 in fiscal 2023.
- Cash Flow: Net cash generated from operations was $1,166.2 million, compared to $941.0 million in fiscal 2023. Free cash flow was $938.2 million, compared to $676.8 million in fiscal 2023.
Recent Highlights
- CrowdStrike’s module adoption rates were 64%, 43% and 27% for five or more, six or more, and seven or more modules, respectively, as of January 31, 20241.
- Named a Leader in the 2023 Gartner® Magic Quadrant™ for Endpoint Protection Platforms, positioned furthest for Completeness of Vision for the fourth consecutive time and highest for Ability to Execute among 15 vendors evaluated in the report2.
- Recognized as Overall Customers’ Choice in 2024 Gartner Peer Insights™ Voice of the Customer for Vulnerability Assessment Report3.
- Received the highest score of all vendors in the Strategy category and highest scores possible in the Vision and Innovation criteria in The Forrester Wave™: Cloud Workload Security, Q1 2024 report4 and named a leader in The Forrester Wave™: Managed Detection And Response Services In Europe, Q4 2023 report4.
- Agreed to acquire Flow Security, the industry’s first and only cloud data runtime security solution.
- Expanded strategic partnership to deliver Dell’s Managed Detection and Response (MDR) services with the industry-leading AI-native CrowdStrike Falcon® XDR platform.
- Announced the general availability of CrowdStrike Falcon Data Protection, Charlotte AI and Falcon for IT.
- Released the 2024 CrowdStrike Global Threat Report, which highlighted a surge in adversaries leveraging stolen identity credentials.
- Completed the IRAP and TISAX assessments, the latest in a series of certifications of governments and industry associations around the world that expand access and accelerate the adoption of the AI-native CrowdStrike Falcon platform.
- Announced that Optiv, the cyber advisory and solutions leader, surpassed the $1 billion milestone in sales of CrowdStrike’s AI-native Falcon platform.
- Ranked #3 in 2023 Fortune Future 50 List.
Financial Outlook
CrowdStrike is providing the following guidance for the first quarter of fiscal 2025 (ending April 30, 2024) and guidance for fiscal year 2025 (ending January 31, 2025).
Guidance for non-GAAP financial measures excludes stock-based compensation expense, amortization expense of acquired intangible assets (including purchased patents), amortization of debt issuance costs and discount, mark-to-market adjustments on deferred compensation liabilities, legal reserve and settlement charges or benefits, acquisition-related provision (benefit) for income taxes, losses (gains) and other income from strategic investments, acquisition-related expenses (credits), and losses (gains) from deferred compensation assets. The company has not provided the most directly comparable GAAP measures because certain items are out of the company’s control or cannot be reasonably predicted. Accordingly, a reconciliation for non-GAAP income from operations, non-GAAP net income attributable to CrowdStrike, and non-GAAP net income per share attributable to CrowdStrike common stockholders is not available without unreasonable effort.
|
|
Q1 FY25 |
|
Full Year FY25 |
|
Total revenue |
$902.2 – $905.8 million |
|
$3,924.9 – $3,989.0 million |
|
Non-GAAP income from operations |
$188.1 – $190.8 million |
|
$863.6 – $913.0 million |
|
Non-GAAP net income attributable to CrowdStrike |
$220.4 – $223.1 million |
|
$940.3 – $989.7 million |
|
Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted |
$0.89 – $0.90 |
|
$3.77 – $3.97 |
|
Weighted average shares used in computing Non-GAAP net income per share attributable to common stockholders, diluted |
248 million |
|
250 million |
These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause the company’s actual results to differ materially from these forward-looking statements.
Conference Call Information
CrowdStrike will host a conference call for analysts and investors to discuss its earnings results for the fourth quarter of fiscal 2024 and outlook for its fiscal first quarter and fiscal year 2025 today at 2:00 p.m. Pacific time (5:00 p.m. Eastern time). A recorded webcast of the event will also be available for one year on the CrowdStrike Investor Relations website ir.crowdstrike.com.
|
Date: |
March 5, 2024 |
||
|
Time: |
2:00 p.m. Pacific time / 5:00 p.m. Eastern time |
||
|
Pre-registration link for dial-in access: |
register.vevent.com/register/BIdbe3c03664f8419b8b69111638e9c60b |
||
|
Webcast: |
|||
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding CrowdStrike’s future growth, and future financial and operating performance, including CrowdStrike’s financial outlook for the fiscal first quarter and fiscal year 2025, and beyond. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: risks associated with managing CrowdStrike’s rapid growth; CrowdStrike’s ability to identify and effectively implement necessary changes to address execution challenges; risks associated with new products and subscription and support offerings, including the risk of defects, errors, or vulnerabilities; CrowdStrike’s ability to respond to an intensely competitive market; length and unpredictability of sales cycles; CrowdStrike’s ability to attract new and retain existing customers; CrowdStrike’s ability to successfully integrate acquisitions; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscriptions and support; CrowdStrike’s ability to collaborate and integrate its products with offerings from other parties to deliver benefits to customers; industry trends; rapidly evolving technological developments in the market for security products and subscription and support offerings; and general market, political, economic, and business conditions, including those related to a deterioration in macroeconomic conditions, inflation, geopolitical uncertainty and conflicts, public health crises and volatility in the banking and financial services sector.
Additional risks and uncertainties that could affect CrowdStrike’s financial results are included in the filings CrowdStrike makes with the Securities and Exchange Commission (“SEC”) from time to time, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including CrowdStrike’s most recently filed Annual Report on Form 10-K, most recently filed Quarterly Report on Form 10-Q, and subsequent filings.
You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to CrowdStrike as of the date hereof, and CrowdStrike does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Use of Non-GAAP Financial Information
CrowdStrike believes that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to CrowdStrike’s financial condition and results of operations. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the financial tables below, as well as the “Explanation of Non-GAAP Financial Measures” section of this press release.
Channels for Disclosure of Information
CrowdStrike intends to announce material information to the public through the CrowdStrike Investor Relations website ir.crowdstrike.com, SEC filings, press releases, public conference calls, and public webcasts. CrowdStrike uses these channels, as well as social media and its blog, to communicate with its investors, customers, and the public about the company, its offerings, and other issues. It is possible that the information CrowdStrike posts on social media and its blog could be deemed to be material information. As such, CrowdStrike encourages investors, the media, and others to follow the channels listed above, including the social media channels listed on CrowdStrike’s investor relations website, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which CrowdStrike will announce information will be posted on the investor relations page on CrowdStrike’s website.
Definition of Module Adoption Rates
1. Beginning in the fourth quarter of fiscal 2023, module adoption rates are calculated by taking the total number of customers with five or more, six or more, and seven or more modules, respectively, divided by the total number of subscription customers (excluding Falcon Go customers). Falcon Go customers are defined as customers who have subscribed with the Falcon Go bundle, a package designed for organizations with 100 endpoints or less.
Reports Referenced and Disclaimers
2. Gartner, Magic Quadrant for Endpoint Protection Platforms, 31 December 2023, Evgeny Mirolyubov, Max Taggett, Franz Hinner, Nikul Patel.
3. Gartner, Voice of the Customer for Vulnerability Assessment, 30 January 2024, Peer Contributors
4. The Forrester Wave™: Cloud Workload Security, Q1 2024
The Forrester Wave™: Managed Detection And Response Services In Europe, Q4 2023
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner is a registered trademark and service mark and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Gartner and Peer Insights™ are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
The Gartner content described herein, (the “Gartner Content”) represents(s) research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. (“Gartner”), and are not representations of fact. Gartner Content speaks as of its original publication date (and not as of the date of this press release) and the opinions expressed in the Gartner Content are subject to change without notice.
About CrowdStrike Holdings
CrowdStrike Holdings, Inc. is a global cybersecurity leader that provides cloud-delivered protection of endpoints, cloud workloads, identity and data.
Powered by the CrowdStrike Security Cloud and advanced artificial intelligence, the CrowdStrike Falcon® platform delivers better outcomes to customers through rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value.
CrowdStrike Falcon leverages a single lightweight-agent architecture with integrated cloud modules spanning multiple security markets, including corporate workload security, managed security services, security and vulnerability management, IT operations management, threat intelligence services, identity protection and log management.
For more information, please visit: ir.crowdstrike.com
CrowdStrike, the CrowdStrike logo, and other CrowdStrike marks are trademarks and/or registered trademarks of CrowdStrike, Inc., or its affiliates or licensors. Other words, symbols, and company product names may be trademarks of the respective companies with which they are associated.
|
CROWDSTRIKE HOLDINGS, INC. |
|||||||||||||||
|
|
|||||||||||||||
|
Condensed Consolidated Statements of Operations |
|||||||||||||||
|
(in thousands, except per share amounts) |
|||||||||||||||
|
(unaudited) |
|||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
|
Revenue |
|
|
|
|
|
|
|
||||||||
|
Subscription |
$ |
795,947 |
|
|
$ |
598,263 |
|
|
$ |
2,870,557 |
|
|
$ |
2,111,660 |
|
|
Professional services |
|
49,388 |
|
|
|
39,104 |
|
|
|
184,998 |
|
|
|
129,576 |
|
|
Total revenue |
|
845,335 |
|
|
|
637,367 |
|
|
|
3,055,555 |
|
|
|
2,241,236 |
|
|
Cost of revenue |
|
|
|
|
|
|
|
||||||||
|
Subscription (1)(2) |
|
175,509 |
|
|
|
149,426 |
|
|
|
630,745 |
|
|
|
511,684 |
|
|
Professional services (1) |
|
33,063 |
|
|
|
26,178 |
|
|
|
124,978 |
|
|
|
89,547 |
|
|
Total cost of revenue |
|
208,572 |
|
|
|
175,604 |
|
|
|
755,723 |
|
|
|
601,231 |
|
|
Gross profit |
|
636,763 |
|
|
|
461,763 |
|
|
|
2,299,832 |
|
|
|
1,640,005 |
|
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
|
Sales and marketing (1)(2)(4) |
|
290,357 |
|
|
|
246,439 |
|
|
|
1,140,566 |
|
|
|
904,409 |
|
|
Research and development (1)(2)(3)(4) |
|
213,998 |
|
|
|
191,845 |
|
|
|
768,497 |
|
|
|
608,364 |
|
|
General and administrative (1)(2)(3)(4)(5) |
|
102,737 |
|
|
|
84,979 |
|
|
|
392,764 |
|
|
|
317,344 |
|
|
Total operating expenses |
|
607,092 |
|
|
|
523,263 |
|
|
|
2,301,827 |
|
|
|
1,830,117 |
|
|
Income (loss) from operations |
|
29,671 |
|
|
|
(61,500 |
) |
|
|
(1,995 |
) |
|
|
(190,112 |
) |
|
Interest expense(6) |
|
(6,422 |
) |
|
|
(6,352 |
) |
|
|
(25,756 |
) |
|
|
(25,319 |
) |
|
Interest income |
|
41,685 |
|
|
|
27,016 |
|
|
|
148,930 |
|
|
|
52,495 |
|
|
Other income (expense),net(7)(8) |
|
3,616 |
|
|
|
(2,782 |
) |
|
|
1,638 |
|
|
|
3,053 |
|
|
Income (loss) before provision for income taxes |
|
68,550 |
|
|
|
(43,618 |
) |
|
|
122,817 |
|
|
|
(159,883 |
) |
|
Provision for income taxes(9) |
|
13,609 |
|
|
|
5,314 |
|
|
|
32,232 |
|
|
|
22,402 |
|
|
Net income (loss) |
|
54,941 |
|
|
|
(48,932 |
) |
|
|
90,585 |
|
|
|
(182,285 |
) |
|
Net income (loss) attributable to non-controlling interest |
|
1,242 |
|
|
|
(1,451 |
) |
|
|
1,258 |
|
|
|
960 |
|
|
Net income (loss) attributable to CrowdStrike |
$ |
53,699 |
|
|
$ |
(47,481 |
) |
|
$ |
89,327 |
|
|
$ |
(183,245 |
) |
|
Net income (loss) per share attributable to CrowdStrike common stockholders: |
|
|
|
|
|
|
|
||||||||
|
Basic |
$ |
0.22 |
|
|
$ |
(0.20 |
) |
|
$ |
0.37 |
|
|
$ |
(0.79 |
) |
|
Diluted |
$ |
0.22 |
|
|
$ |
(0.20 |
) |
|
$ |
0.37 |
|
|
$ |
(0.79 |
) |
|
Weighted-average shares used in computing net income (loss) per share attributable to CrowdStrike common stockholders: |
|
|
|
|
|
|
|
||||||||
|
Basic |
|
240,856 |
|
|
|
235,027 |
|
|
|
238,637 |
|
|
|
233,139 |
|
|
Diluted |
|
247,936 |
|
|
|
235,027 |
|
|
|
243,635 |
|
|
|
233,139 |
|
|
|
|||||||||||||||
| (1) Includes stock-based compensation expense as follows (in thousands): | |||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
Subscription cost of revenue |
$ |
13,311 |
|
$ |
10,134 |
|
$ |
43,886 |
|
$ |
32,091 |
|
Professional services cost of revenue |
|
6,282 |
|
|
5,096 |
|
|
22,302 |
|
|
15,692 |
|
Sales and marketing |
|
46,083 |
|
|
42,747 |
|
|
175,808 |
|
|
151,919 |
|
Research and development |
|
62,142 |
|
|
54,364 |
|
|
205,896 |
|
|
174,711 |
|
General and administrative |
|
48,454 |
|
|
40,006 |
|
|
183,627 |
|
|
152,091 |
|
Total stock-based compensation expense |
$ |
176,272 |
|
$ |
152,347 |
|
$ |
631,519 |
|
$ |
526,504 |
|
(2) Includes amortization of acquired intangible assets, including purchased patents, as follows (in thousands): |
|||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
Subscription cost of revenue |
$ |
4,819 |
|
$ |
3,571 |
|
$ |
15,560 |
|
$ |
13,907 |
|
Sales and marketing |
|
602 |
|
|
619 |
|
|
2,085 |
|
|
2,557 |
|
Research and development |
|
— |
|
|
— |
|
|
468 |
|
|
— |
|
General and administrative |
|
82 |
|
|
36 |
|
|
303 |
|
|
101 |
|
Total amortization of acquired intangible assets |
$ |
5,503 |
|
$ |
4,226 |
|
$ |
18,416 |
|
$ |
16,565 |
|
(3) Includes acquisition-related expenses as follows (in thousands): |
|||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
Research and development |
$ |
— |
|
$ |
— |
|
$ |
750 |
|
$ |
— |
|
General and administrative |
|
428 |
|
|
477 |
|
|
3,632 |
|
|
2,664 |
|
Total acquisition-related expenses |
$ |
428 |
|
$ |
477 |
|
$ |
4,382 |
|
$ |
2,664 |
|
(4) Includes mark-to-market adjustments on deferred compensation liabilities as follows (in thousands): |
|||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
Sales and marketing |
$ |
125 |
|
$ |
— |
|
$ |
92 |
|
$ |
— |
|
Research and development |
|
81 |
|
|
— |
|
|
61 |
|
|
— |
|
General and administrative |
|
31 |
|
|
1 |
|
|
23 |
|
|
1 |
|
Total mark-to-market adjustments on deferred compensation liabilities |
$ |
237 |
|
$ |
1 |
|
$ |
176 |
|
$ |
1 |
|
(5) Includes legal reserve and settlement charges as follows (in thousands): |
|||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
General and administrative |
$ |
1,000 |
|
$ |
— |
|
$ |
7,797 |
|
$ |
— |
|
Total legal reserve and settlement charges |
$ |
1,000 |
|
$ |
— |
|
$ |
7,797 |
|
$ |
— |
|
(6) Includes amortization of debt issuance costs and discount as follows (in thousands): |
|||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
Interest expense |
$ |
546 |
|
$ |
548 |
|
$ |
2,186 |
|
$ |
2,187 |
|
Total amortization of debt issuance costs and discount |
$ |
546 |
|
$ |
548 |
|
$ |
2,186 |
|
$ |
2,187 |
|
(7) Includes gains (losses) and other income from strategic investments as follows (in thousands): |
||||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||
|
Other income (expense), net |
$ |
2,485 |
|
$ |
(2,904 |
) |
|
$ |
2,516 |
|
$ |
1,920 |
|
Total gains (losses) and other income from strategic investments |
$ |
2,485 |
|
$ |
(2,904 |
) |
|
$ |
2,516 |
|
$ |
1,920 |
|
(8) Includes gains on deferred compensation assets as follows (in thousands): |
|||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
Other income, net |
$ |
237 |
|
$ |
1 |
|
$ |
176 |
|
$ |
1 |
|
Total gains on deferred compensation assets |
$ |
237 |
|
$ |
1 |
|
$ |
176 |
|
$ |
1 |
|
(9) Includes provision (benefit) for income taxes related to acquisitions as follows (in thousands): |
||||||||||||
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||
|
Provision (benefit) for income taxes |
$ |
— |
|
$ |
— |
|
$ |
(615 |
) |
|
$ |
4,658 |
|
Total provision (benefit) for income taxes |
$ |
— |
|
$ |
— |
|
$ |
(615 |
) |
|
$ |
4,658 |
|
CROWDSTRIKE HOLDINGS, INC. |
|||||||
|
|
|||||||
|
Condensed Consolidated Balance Sheets |
|||||||
|
(in thousands) |
|||||||
|
(unaudited) |
|||||||
|
|
|
|
|
||||
|
|
January 31, |
|
January 31, |
||||
|
|
2024 |
|
2023 |
||||
|
Assets |
|
|
|
||||
|
Current assets: |
|
|
|
||||
|
Cash and cash equivalents |
$ |
3,375,069 |
|
|
$ |
2,455,369 |
|
|
Short-term investments |
|
99,591 |
|
|
|
250,000 |
|
|
Accounts receivable, net of allowance for credit losses |
|
853,105 |
|
|
|
626,181 |
|
|
Deferred contract acquisition costs, current |
|
246,370 |
|
|
|
186,855 |
|
|
Prepaid expenses and other current assets |
|
183,172 |
|
|
|
121,862 |
|
|
Total current assets |
|
4,757,307 |
|
|
|
3,640,267 |
|
|
Strategic investments |
|
56,244 |
|
|
|
47,270 |
|
|
Property and equipment, net |
|
620,172 |
|
|
|
492,335 |
|
|
Operating lease right-of-use assets |
|
48,211 |
|
|
|
39,936 |
|
|
Deferred contract acquisition costs, noncurrent |
|
335,933 |
|
|
|
260,233 |
|
|
Goodwill |
|
638,041 |
|
|
|
430,645 |
|
|
Intangible assets, net |
|
114,518 |
|
|
|
86,889 |
|
|
Other long-term assets |
|
76,094 |
|
|
|
28,965 |
|
|
Total assets |
$ |
6,646,520 |
|
|
$ |
5,026,540 |
|
|
Liabilities and Stockholders’ Equity |
|
|
|
||||
|
Current liabilities: |
|
|
|
||||
|
Accounts payable |
$ |
28,180 |
|
|
$ |
45,372 |
|
|
Accrued expenses |
|
125,896 |
|
|
|
137,884 |
|
|
Accrued payroll and benefits |
|
234,624 |
|
|
|
168,767 |
|
|
Operating lease liabilities, current |
|
14,150 |
|
|
|
13,046 |
|
|
Deferred revenue |
|
2,270,757 |
|
|
|
1,727,484 |
|
|
Other current liabilities |
|
23,672 |
|
|
|
16,519 |
|
|
Total current liabilities |
|
2,697,279 |
|
|
|
2,109,072 |
|
|
Long-term debt |
|
742,494 |
|
|
|
741,005 |
|
|
Deferred revenue, noncurrent |
|
783,342 |
|
|
|
627,629 |
|
|
Operating lease liabilities, noncurrent |
|
36,230 |
|
|
|
29,567 |
|
|
Other liabilities, noncurrent |
|
50,086 |
|
|
|
31,833 |
|
|
Total liabilities |
|
4,309,431 |
|
|
|
3,539,106 |
|
|
Commitments and contingencies |
|
|
|
||||
|
Stockholders’ Equity |
|
|
|
||||
|
Common stock, Class A and Class B |
|
121 |
|
|
|
118 |
|
|
Additional paid-in capital |
|
3,364,328 |
|
|
|
2,612,705 |
|
|
Accumulated deficit |
|
(1,058,836 |
) |
|
|
(1,148,163 |
) |
|
Accumulated other comprehensive loss |
|
(1,663 |
) |
|
|
(1,019 |
) |
|
Total CrowdStrike Holdings, Inc. stockholders’ equity |
|
2,303,950 |
|
|
|
1,463,641 |
|
|
Non-controlling interest |
|
33,139 |
|
|
|
23,793 |
|
|
Total stockholders’ equity |
|
2,337,089 |
|
|
|
1,487,434 |
|
|
Total liabilities and stockholders’ equity |
$ |
6,646,520 |
|
|
$ |
5,026,540 |
|
Contacts
Investor Relations Contact
CrowdStrike Holdings, Inc.
Maria Riley, Vice President of Investor Relations
[email protected]
669-721-0742
Press Contact
CrowdStrike Holdings, Inc.
Kevin Benacci, Sr. Director, Corporate Communications
[email protected]
216-409-5055
