CrowdStrike Reports Second Quarter Fiscal Year 2023 Financial Results

  • Ending ARR grows 59% year-over-year to reach $2.14 billion
  • Achieves record net new ARR of $218 million with accelerating year-over-year growth
  • Adds record 1,741 net new subscription customers
  • Cash flow from operations of $210 million grows 94% year-over-year, free cash flow of $136 million grows 84% year-over-year

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 second quarter fiscal year 2023, ended July 31, 2022.

“CrowdStrike delivered a strong second quarter with new milestones across the business. Ending ARR surpassed the $2 billion milestone, net new ARR reached a record $218 million and net new subscription customers reached a record 1,741 in the quarter. As organizations respond to macroeconomic conditions, they are prioritizing investments and looking to standardize with a security partner they can trust to achieve better protection with less time, fewer resources and lower total cost of ownership. Our ability to deliver immediate ROI and consolidate the security and IT stack significantly sets us apart from the competition,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer.

Commenting on the company’s financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “CrowdStrike delivered robust growth at scale and exceptional unit economics with over 80% year-over-year growth in operating and free cash flow. We are raising our guidance for fiscal year 2023, which reflects our technology advantage and strong industry tailwinds combined with a pragmatic view of current macroeconomic conditions. Additionally, we remain committed to delivering increased non-GAAP operating leverage and 30% or more free cash flow margin for the full year.”

Second Quarter Fiscal 2023 Financial Highlights

  • Revenue: Total revenue was $535.2 million, a 58% increase, compared to $337.7 million in the second quarter of fiscal 2022. Subscription revenue was $506.2 million, a 60% increase, compared to $315.8 million in the second quarter of fiscal 2022.
  • Annual Recurring Revenue (ARR) increased 59% year-over-year and grew to $2.14 billion as of July 31, 2022, of which $218.1 million was net new ARR added in the quarter.
  • Subscription Gross Margin: GAAP subscription gross margin was approximately 76% in both the second quarter of fiscal 2023 and 2022. Non-GAAP subscription gross margin was approximately 78% in both the second quarter of fiscal 2023 and 2022.
  • Income/Loss from Operations: GAAP loss from operations was $48.3 million, compared to $47.4 million in the second quarter of fiscal 2022. Non-GAAP income from operations was $87.3 million, compared to $35.3 million in the second quarter of fiscal 2022.
  • Net Income/Loss Attributable to CrowdStrike: GAAP net loss attributable to CrowdStrike was $49.3 million, compared to $57.3 million in the second quarter of fiscal 2022. GAAP net loss per share attributable to CrowdStrike, basic and diluted was $0.21, compared to $0.25 in the second quarter of fiscal 2022. Non-GAAP net income attributable to CrowdStrike was $85.9 million, compared to $25.9 million in the second quarter of fiscal 2022. Non-GAAP net income attributable to CrowdStrike per share, diluted, was $0.36, compared to $0.11 in the second quarter of fiscal 2022.
  • Cash Flow: Net cash generated from operations was $209.9 million, compared to $108.5 million in the second quarter of fiscal 2022. Free cash flow was $135.8 million, compared to $73.6 million in the second quarter of fiscal 2022.
  • Cash and Cash Equivalents was $2.32 billion as of July 31, 2022.

Recent Highlights

  • Added 1,741 net new subscription customers in the quarter for a total of 19,686 subscription customers as of July 31, 2022, representing 51% growth year-over-year.
  • CrowdStrike’s subscription customers that have adopted five or more, six or more and seven or more modules was 59%, 36% and 20%, respectively, as of July 31, 2022.
  • Achieved the highest Mac malware protection score in AV-Comparatives Mac Security Test and Review 2022 and won the Approved Security Product award for the fifth consecutive time.
  • Named Best Security Company by 2022 SC Awards US and received the Best Emerging Technology Award at SC Awards Europe 2022 for Falcon XDR.
  • Earned Frost & Sullivan’s 2022 Global Technology Innovation Leadership Award in Endpoint Security.
  • Announced the general availability of the Falcon Identity Threat Protection module for its GovCloud-1 environment. This makes Falcon Identity Threat Protection available to U.S. public sector organizations that require Federal Risk and Authorization Management Program (FedRAMP) Moderate or Impact Level 4 (IL-4) authorization.
  • Unveiled CrowdStrike Asset Graph, a new graph database powered by the CrowdStrike Security Cloud that provides visibility into IT assets alongside visibility into attack surfaces to simplify IT operations and stop breaches.
  • Launched Falcon OverWatch Cloud Threat Hunting, the first standalone cloud threat hunting service for threats originating, operating or persisting in cloud environments.
  • Introduced the first AI-powered Indicators of Attack (IoA), new innovations for fileless attack prevention and enhanced visibility for stealthy cloud intrusions.
  • Added new Cloud Native Application Protection Platform (CNAPP) capabilities, including support for Amazon Elastic Container Service (ECS) within AWS Fargate to enable Software Composition Analysis (SCA) for open source software and expand image registry scanning for eight new container registries.
  • Announced the release of the Open Cybersecurity Schema Framework (OCSF) project, a collaborative open-source effort among cybersecurity and technology leaders to break down silos that impede cybersecurity teams’ abilities to quickly and effectively detect, investigate and stop breaches.

Financial Outlook

CrowdStrike is providing the following guidance for the third quarter of fiscal 2023 (ending October 31, 2022) and increasing its guidance for fiscal year 2023 (ending January 31, 2023):

 

Q3 FY23

Guidance

 

Full Year FY23

Guidance

Total revenue

$569.1 – $575.9 million

 

$2,223.0 – $2,232.0 million

Non-GAAP income from operations

$72.7 – $77.7 million

 

$321.8 – $328.5 million

Non-GAAP net income attributable to CrowdStrike

$73.0 – $78.0 million

 

$313.7 – $320.5 million

Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted

$0.30 – $0.32

 

$1.31 – $1.33

Weighted average shares used in computing Non-GAAP net income per share attributable to common stockholders, diluted

241 million

 

240 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 our actual results to differ materially from these forward-looking statements.

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, legal reserve and settlement charges or benefits, gain (loss) and other income from strategic investments, and acquisition-related expenses. We have not provided the most directly comparable GAAP measures because certain items are out of our 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.

Conference Call Information

CrowdStrike will host a conference call for analysts and investors to discuss its earnings results for the second quarter of fiscal 2023 and outlook for its fiscal third quarter and fiscal year 2023 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:

August 30, 2022

Time:

2:00 p.m. Pacific time / 5:00 p.m. Eastern time

Pre-registration link for dial-in access:

register.vevent.com/register/BIbbb440746d774634bbe655adba4a5730

Webcast:

ir.crowdstrike.com

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding our future growth, and future financial and operating performance, including our financial outlook for the fiscal third quarter and fiscal year 2023. 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 our rapid growth; our ability to identify and effectively implement the necessary changes to address execution challenges; the impact of the COVID-19 pandemic on our and our customers’ business; our limited experience with new product and subscription and support introductions and the risks associated with new products and subscription and support offerings, including the risk of defects, errors, or vulnerabilities; our ability to attract new and retain existing customers; our 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; our ability to collaborate and integrate our products with offerings from other parties to deliver benefits to customers; rapidly evolving technological developments in the market for security products and subscription and support offerings; length of sales cycles; and general market, political, economic, and business conditions, including those related to inflation, COVID-19 and geopolitical uncertainty.

Additional risks and uncertainties that could affect our financial results are included in the filings we make 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 our most recently filed Annual Report on Form 10-K, 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 us as of the date hereof, and we do 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

We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our 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

We intend 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. We use these channels, as well as social media and our blog, to communicate with our investors, customers, and the public about our company, our offerings, and other issues. It is possible that the information we post on social media and our blog could be deemed to be material information. As such, we encourage investors, the media, and others to follow the channels listed above, including the social media channels listed on our investor relations website, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.

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 July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

Revenue

 

 

 

 

 

 

 

Subscription

$

506,199

 

 

$

315,836

 

 

$

966,021

 

 

$

597,064

 

Professional services

 

28,954

 

 

 

21,854

 

 

 

56,966

 

 

 

43,469

 

Total revenue

 

535,153

 

 

 

337,690

 

 

 

1,022,987

 

 

 

640,533

 

Cost of revenue

 

 

 

 

 

 

 

Subscription (1)(2)

 

120,087

 

 

 

75,993

 

 

 

228,029

 

 

 

140,896

 

Professional services (1)

 

20,480

 

 

 

14,439

 

 

 

39,370

 

 

 

28,041

 

Total cost of revenue

 

140,567

 

 

 

90,432

 

 

 

267,399

 

 

 

168,937

 

Gross profit

 

394,586

 

 

 

247,258

 

 

 

755,588

 

 

 

471,596

 

Operating expenses

 

 

 

 

 

 

 

Sales and marketing (1)(2)

 

224,766

 

 

 

153,861

 

 

 

418,298

 

 

 

288,992

 

Research and development (1)(2)

 

137,864

 

 

 

90,455

 

 

 

261,263

 

 

 

168,635

 

General and administrative (1)(3)(4)

 

80,263

 

 

 

50,345

 

 

 

148,217

 

 

 

92,719

 

Total operating expenses

 

442,893

 

 

 

294,661

 

 

 

827,778

 

 

 

550,346

 

Loss from operations

 

(48,307

)

 

 

(47,403

)

 

 

(72,190

)

 

 

(78,750

)

Interest expense(5)

 

(6,335

)

 

 

(6,296

)

 

 

(12,633

)

 

 

(12,526

)

Other income, net(6)

 

11,107

 

 

 

619

 

 

 

14,319

 

 

 

5,387

 

Loss before provision for income taxes

 

(43,535

)

 

 

(53,080

)

 

 

(70,504

)

 

 

(85,889

)

Provision for income taxes(7)

 

4,778

 

 

 

4,238

 

 

 

8,218

 

 

 

54,300

 

Net loss

 

(48,313

)

 

 

(57,318

)

 

 

(78,722

)

 

 

(140,189

)

Net income attributable to non-controlling interest

 

972

 

 

 

 

 

 

2,086

 

 

 

2,178

 

Net loss attributable to CrowdStrike

$

(49,285

)

 

$

(57,318

)

 

$

(80,808

)

 

$

(142,367

)

Net loss per share attributable to CrowdStrike common stockholders, basic and diluted

$

(0.21

)

 

$

(0.25

)

 

$

(0.35

)

 

$

(0.63

)

Weighted-average shares used in computing net loss per share attributable to CrowdStrike common stockholders, basic and diluted

 

232,554

 

 

 

226,362

 

 

 

231,850

 

 

 

225,276

 

_____________________________

(1) Includes stock-based compensation expense as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

Subscription cost of revenue

$

7,271

 

$

5,294

 

$

13,849

 

$

9,579

Professional services cost of revenue

 

3,502

 

 

2,389

 

 

6,503

 

 

4,417

Sales and marketing

 

40,567

 

 

25,265

 

 

67,277

 

 

42,679

Research and development

 

40,043

 

 

25,808

 

 

74,079

 

 

43,609

General and administrative

 

40,167

 

 

17,531

 

 

72,336

 

 

30,365

Total stock-based compensation expense

$

131,550

 

$

76,287

 

$

234,044

 

$

130,649

(2) Includes amortization of acquired intangible assets, including purchased patents, as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

Subscription cost of revenue

$

3,427

 

$

2,771

 

$

6,852

 

$

4,766

Sales and marketing

 

648

 

 

547

 

 

1,297

 

 

969

General and administrative

 

29

 

 

 

 

43

 

 

Total amortization of acquired intangible assets

$

4,104

 

$

3,318

 

$

8,192

 

$

5,735

(3) Includes acquisition-related expenses as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

General and administrative

$

 

$

596

 

$

301

 

$

4,941

Total acquisition-related expenses

$

 

$

596

 

$

301

 

$

4,941

(4) Includes legal reserve and settlement charges as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

General and administrative

$

 

$

2,500

 

$

 

$

2,500

Total legal reserve and settlement charges

$

 

$

2,500

 

$

 

$

2,500

(5) Includes amortization of debt issuance costs and discount as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

Interest expense

$

547

 

$

546

 

$

1,093

 

$

1,093

Total amortization of debt issuance costs and discount

$

547

 

$

546

 

$

1,093

 

$

1,093

(6) Includes gains and other income from strategic investments as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

Other income, net

$

1,943

 

$

 

$

4,172

 

$

4,356

Total gains and other income from strategic investments

$

1,943

 

$

 

$

4,172

 

$

4,356

(7) Includes tax costs for intellectual property integration relating to the Humio acquisition as follows (in thousands):

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

Provision for income taxes

$

 

$

 

$

 

$

48,824

Total provision for income taxes

$

 

$

 

$

 

$

48,824

CROWDSTRIKE HOLDINGS, INC.

 

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

 

July 31,

 

January 31,

 

2022

 

2022

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

2,318,858

 

 

$

1,996,633

 

Accounts receivable, net of allowance for credit losses

 

418,799

 

 

 

368,145

 

Deferred contract acquisition costs, current

 

148,125

 

 

 

126,822

 

Prepaid expenses and other current assets

 

90,198

 

 

 

79,352

 

Total current assets

 

2,975,980

 

 

 

2,570,952

 

Strategic investments

 

35,585

 

 

 

23,632

 

Property and equipment, net

 

383,012

 

 

 

260,577

 

Operating lease right-of-use assets

 

28,463

 

 

 

31,735

 

Deferred contract acquisition costs, noncurrent

 

202,441

 

 

 

192,358

 

Goodwill

 

416,066

 

 

 

416,445

 

Intangible assets, net

 

89,840

 

 

 

97,336

 

Other long-term assets

 

22,849

 

 

 

25,346

 

Total assets

$

4,154,236

 

 

$

3,618,381

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

53,817

 

 

$

47,634

 

Accrued expenses

 

101,181

 

 

 

83,382

 

Accrued payroll and benefits

 

102,687

 

 

 

104,563

 

Operating lease liabilities, current

 

10,316

 

 

 

9,820

 

Deferred revenue

 

1,363,558

 

 

 

1,136,502

 

Other current liabilities

 

17,691

 

 

 

24,929

 

Total current liabilities

 

1,649,250

 

 

 

1,406,830

 

Long-term debt

 

740,261

 

 

 

739,517

 

Deferred revenue, noncurrent

 

480,594

 

 

 

392,819

 

Operating lease liabilities, noncurrent

 

21,340

 

 

 

25,379

 

Other liabilities, noncurrent

 

19,444

 

 

 

16,193

 

Total liabilities

 

2,910,889

 

 

 

2,580,738

 

Commitments and contingencies

 

 

 

Stockholders’ Equity

 

 

 

Common stock, Class A and Class B

 

116

 

 

 

115

 

Additional paid-in capital

 

2,276,704

 

 

 

1,991,807

 

Accumulated deficit

 

(1,045,726

)

 

 

(964,918

)

Accumulated other comprehensive loss

 

(5,675

)

 

 

(1,240

)

Total CrowdStrike Holdings, Inc. stockholders’ equity

 

1,225,419

 

 

 

1,025,764

 

Non-controlling interest

 

17,928

 

 

 

11,879

 

Total stockholders’ equity

 

1,243,347

 

 

 

1,037,643

 

Total liabilities and stockholders’ equity

$

4,154,236

 

 

$

3,618,381

 

CROWDSTRIKE HOLDINGS, INC.

 

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

Six Months Ended July 31,

 

2022

 

2021

Operating activities

 

 

 

Net loss

$

(78,722

)

 

$

(140,189

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

34,146

 

 

 

24,969

 

Amortization of intangible assets

 

8,192

 

 

 

5,735

 

Amortization of deferred contract acquisition costs

 

77,554

 

 

 

50,419

 

Non-cash operating lease costs

 

4,524

 

 

 

4,469

 

Stock-based compensation expense

 

234,044

 

 

 

130,649

 

Deferred income taxes

 

1,604

 

 

 

(967

)

Non-cash interest expense

 

1,366

 

 

 

1,199

 

Change in fair value of strategic investments

 

(4,128

)

 

 

(4,356

)

Changes in operating assets and liabilities, net of impact of acquisitions

 

 

 

Accounts receivable, net

 

(50,728

)

 

 

(23,903

)

Deferred contract acquisition costs

 

(108,940

)

 

 

(87,576

)

Prepaid expenses and other assets

 

(10,938

)

 

 

(46,687

)

Accounts payable

 

794

 

 

 

5,383

 

Accrued expenses and other liabilities

 

5,723

 

 

 

67,290

 

Accrued payroll and benefits

 

245

 

 

 

22,853

 

Operating lease liabilities

 

(4,704

)

 

 

(5,022

)

Deferred revenue

 

314,831

 

 

 

251,742

 

Net cash provided by operating activities

 

424,863

 

 

 

256,008

 

Investing activities

 

 

 

Purchases of property and equipment

 

(118,339

)

 

 

(55,793

)

Capitalized internal-use software and website development costs

 

(13,235

)

 

 

(9,273

)

Purchases of strategic investments

 

(7,825

)

 

 

(7,309

)

Business acquisitions, net of cash acquired

 

 

 

 

(353,746

)

Purchases of intangible assets

 

(700

)

 

 

 

Net cash used in investing activities

 

(140,099

)

 

 

(426,121

)

Financing activities

 

 

 

Payments of debt issuance costs related to revolving line of credit

 

 

 

 

(219

)

Payment of debt issuance costs related to Senior Notes

 

 

 

 

(1,581

)

Proceeds from issuance of common stock upon exercise of stock options

 

4,919

 

 

 

9,492

 

Proceeds from issuance of common stock under the employee stock purchase plan

 

34,445

 

 

 

27,452

 

Capital contributions from non-controlling interest holders

 

3,963

 

 

 

3,655

 

Net cash provided by financing activities

 

43,327

 

 

 

38,799

 

 

 

 

 

Effect of foreign exchange rates on cash, cash equivalents and restricted cash

 

(4,330

)

 

 

(243

)

 

 

 

 

Net increase (decrease) in cash, cash equivalents and restricted cash

 

323,761

 

 

 

(131,557

)

 

 

 

 

Cash, cash equivalents and restricted cash, beginning of period

 

1,996,633

 

 

 

1,918,608

 

Cash, cash equivalents and restricted cash, end of period

$

2,320,394

 

 

$

1,787,051

 

CROWDSTRIKE HOLDINGS, INC.

 

GAAP to Non-GAAP Reconciliations

(in thousands, except percentages)

(unaudited)

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2022

 

2021

 

2022

 

2021

GAAP subscription revenue

$

506,199

 

 

$

315,836

 

 

$

966,021

 

 

$

597,064

 

GAAP professional services revenue

 

28,954

 

 

 

21,854

 

 

 

56,966

 

 

 

43,469

 

GAAP total revenue

$

535,153

 

 

$

337,690

 

 

$

1,022,987

 

 

$

640,533

 

 

 

 

 

 

 

 

 

GAAP subscription gross profit

$

386,112

 

 

$

239,843

 

 

$

737,992

 

 

$

456,168

 

Stock based compensation expense

 

7,271

 

 

 

5,294

 

 

 

13,849

 

 

 

9,579

 

Amortization of acquired intangible assets

 

3,427

 

 

 

2,771

 

 

 

6,852

 

 

 

4,766

 

Non-GAAP subscription gross profit

$

396,810

 

 

$

247,908

 

 

$

758,693

 

 

$

470,513

 

 

 

 

 

 

 

 

 

GAAP subscription gross margin

 

76

%

 

 

76

%

 

 

76

%

 

 

76

%

Non-GAAP subscription gross margin

 

78

%

 

 

78

%

 

 

79

%

 

 

79

%

 

 

 

 

 

 

 

 

GAAP professional services gross profit

$

8,474

 

 

$

7,415

 

 

$

17,596

 

 

$

15,428

 

Stock based compensation expense

 

3,502

 

 

 

2,389

 

 

 

6,503

 

 

 

4,417

 

Non-GAAP professional services gross profit

$

11,976

 

 

$

9,804

 

 

$

24,099

 

 

$

19,845

 

 

 

 

 

 

 

 

 

GAAP professional services gross margin

 

29

%

 

 

34

%

 

 

31

%

 

 

35

%

Non-GAAP professional services gross margin

 

41

%

 

 

45

%

 

 

42

%

 

 

46

%

 

 

 

 

 

 

 

 

Total GAAP gross margin

 

74

%

 

 

73

%

 

 

74

%

 

 

74

%

Total Non-GAAP gross margin

 

76

%

 

 

76

%

 

 

77

%

 

 

77

%

 

 

 

 

 

 

 

 

GAAP sales and marketing operating expenses

$

224,766

 

 

$

153,861

 

 

$

418,298

 

 

$

288,992

 

Stock based compensation expense

 

(40,567

)

 

 

(25,265

)

 

 

(67,277

)

 

 

(42,679

)

Amortization of acquired intangible assets

 

(648

)

 

 

(547

)

 

 

(1,297

)

 

 

(969

)

Non-GAAP sales and marketing operating expenses

$

183,551

 

 

$

128,049

 

 

$

349,724

 

 

$

245,344

 

 

 

 

 

 

 

 

 

GAAP sales and marketing operating expenses as a percentage of revenue

 

42

%

 

 

46

%

 

 

41

%

 

 

45

%

Non-GAAP sales and marketing operating expenses as a percentage of revenue

 

34

%

 

 

38

%

 

 

34

%

 

 

38

%

 

 

 

 

 

 

 

 

GAAP research and development operating expenses

$

137,864

 

 

$

90,455

 

 

$

261,263

 

 

$

168,635

 

Stock based compensation expense

 

(40,043

)

 

 

(25,808

)

 

 

(74,079

)

 

 

(43,609

)

Non-GAAP research and development operating expenses

$

97,821

 

 

$

64,647

 

 

$

187,184

 

 

$

125,026

 

 

 

 

 

 

 

 

 

GAAP research and development operating expenses as a percentage of revenue

 

26

%

 

 

27

%

 

 

26

%

 

 

26

%

Non-GAAP research and development operating expenses as a percentage of revenue

 

18

%

 

 

19

%

 

 

18

%

 

 

20

%

 

 

 

 

 

 

 

 

GAAP general and administrative operating expenses

$

80,263

 

 

$

50,345

 

 

$

148,217

 

 

$

92,719

 

Stock based compensation expense

 

(40,167

)

 

 

(17,531

)

 

 

(72,336

)

 

 

(30,365

)

Acquisition-related expenses

 

 

 

 

(596

)

 

 

(301

)

 

 

(4,941

)

Amortization of acquired intangible assets

 

(29

)

 

 

 

 

 

(43

)

 

 

 

Legal reserve and settlement charges

 

 

 

 

(2,500

)

 

 

 

 

 

(2,500

)

Non-GAAP general and administrative operating expenses

$

40,067

 

 

$

29,718

 

 

$

75,537

 

 

$

54,913

 

 

 

 

 

 

 

 

 

GAAP general and administrative operating expenses as a percentage of revenue

 

15

%

 

 

15

%

 

 

14

%

 

 

14

%

Non-GAAP general and administrative operating expenses as a percentage of revenue

 

7

%

 

 

9

%

 

 

7

%

 

 

9

%

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

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