CrowdStrike falls 9% on disappointing earnings forecast
In this article
CrowdStrike
shares dropped nearly 9% in extended trading on Tuesday after the cybersecurity software provider issued disappointing earnings guidance.
Here’s what the company reported compared to LSEG estimates:
Revenue increased 25% from $845.3 million a year earlier, and the company posted a net loss of $92.3 billion, or 37 cents per share. In the year-ago period, the company posted net income of $53.7 million, or 22 cents per share.
For the year, CrowdStrike said it expects earnings, excluding some items, to range between $3.33 and $3.45 per share, falling short of the $4.42 expected by analysts polled by LSEG. First-quarter earnings are expected to be between 64 cents and 66 cents per share, versus the average estimate of 95 cents.
Despite the after-hours drop, CrowdStrike topped some metrics from Wall Street. The company posted $4.24 billion in annual recurring revenue, reflecting 23% growth. That topped the $4.21 billion estimate from analysts surveyed by StreetAccount and included $224 million in net annual recurring revenue.
Revenue guidance was roughly in line with estimates. CrowdStrike said it expects revenue of between $4.74 billion and $4.81 billion for the year, versus an LSEG estimate of $4.77 billion.
The earnings release comes almost eight months after a technology update from the company led to a global IT outage that grounded flights, disrupted businesses and led to class action lawsuits.
CEO George Kurtz said in the press release that artificial intelligence is becoming more important in stopping cyberattacks.
“As businesses of all sizes rapidly adopt AI, stopping the breach necessitates cybersecurity’s AI-native platform,” Kurtz said.
WATCH: U.S. facing domestic and cyber attacks
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CrowdStrike Reports Fourth Quarter and Fiscal Year 2025 Financial Results
AUSTIN, Texas–(BUSINESS WIRE)–CrowdStrike Holdings, Inc. (Nasdaq: CRWD), today announced financial results for the fourth quarter and fiscal year 2025, ended January 31, 2025.
“Delivering $224 million of net new ARR, which brings our ending ARR to $4.24 billion, places us firmly on the flight path to our $10 billion ending ARR goal,” said George Kurtz, CrowdStrike’s Founder and CEO. “As businesses of all sizes rapidly adopt AI, stopping the breach necessitates cybersecurity’s AI-native platform. We are seeing strong momentum in our Next-Gen SIEM, Cloud Security, and Identity Protection businesses, surpassing $1.3 billion in combined ending ARR. With 97% gross retention and accounts adopting Falcon Flex adding over $1 billion of in-quarter deal value, customers are increasingly consolidating on the Falcon platform as their AI-native SOC for today and tomorrow.”
Commenting on the company’s financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “We achieved fourth quarter results above all guided metrics. The fundamental strengths of our business reflected in our strong customer retention, accelerating module adoption, and multiple large growth opportunities, give us confidence in our ability to achieve our target model by fiscal year 2029 and deliver long-term profitable growth.”
Fourth Quarter Fiscal 2025 Financial Highlights
Full Year Fiscal 2025 Financial Highlights
Recent Highlights
Changes in Presentation of Non-GAAP Measures
Effective in presenting periods starting on and after February 1, 2025, the beginning of CrowdStrike’s fiscal year ending January 31, 2026, CrowdStrike will present employer payroll taxes related to employee stock-based award transactions as part of stock-based compensation expense in the GAAP to Non-GAAP Reconciliation. These payroll taxes will be excluded from CrowdStrike’s non-GAAP results as they are tied to the timing and size of the vesting or exercise of the underlying stock-based awards and the price of CrowdStrike’s common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of CrowdStrike’s business. Employer payroll taxes related to employee stock-based award transactions amounted to $42.2 million in fiscal 2025.
Also effective in presenting periods starting on and after February 1, 2025, CrowdStrike will use a long-term projected non-GAAP tax rate of 22.5% for the purpose of determining non-GAAP net income attributable to CrowdStrike and non-GAAP net income attributable to CrowdStrike per share to provide better consistency across interim reporting periods in fiscal 2026 and beyond. Given the significant growth of the company’s business and non-GAAP operating income, CrowdStrike believes this change is necessary to better reflect the performance of its business. CrowdStrike will continue to assess the appropriateness of the non-GAAP tax rate on a regular basis, which could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in the company’s geographic earnings mix, or other changes to its strategy or business operations. The estimated impact of the non-GAAP tax rate of 22.5% to the outlook for non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted, is $(0.19) and $(0.98) at the midpoint for Q1 FY26 and full year FY26, respectively.
Please refer to the “Financial Outlook” section of this press release below for the company’s Q1 FY26 and full year FY26 guidance.
Financial Outlook
CrowdStrike is providing the following guidance for the first quarter of fiscal 2026 (ending April 30, 2025) and guidance for fiscal year 2026 (ending January 31, 2026).
Guidance for non-GAAP financial measures excludes stock-based compensation expense and related employer payroll taxes, 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, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for income taxes, losses (gains) and other income from strategic investments, acquisition-related expenses (credits), net, 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 FY26
Guidance
Full Year FY26
Guidance
Total revenue
$1,100.6 – $1,106.4 million
$4,743.5 – $4,805.5 million
Non-GAAP income from operations
$173.1 – $180.0 million
$944.2 – $985.1 million
Non-GAAP net income attributable to CrowdStrike
$162.1 – $167.5 million
$851.2 – $883.0 million
Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted
$0.64 – $0.66
$3.33 – $3.45
Weighted average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted
254 million
256 million
Please refer to the “Changes in Presentation of Non-GAAP Measures” section of this press release above for information regarding changes to the methodologies used to calculate Q1 FY26 and full year FY26 guidance.
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 and fiscal year 2025 and outlook for its fiscal first quarter and fiscal year 2026 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 4, 2025
Time:
2:00 p.m. Pacific time / 5:00 p.m. Eastern time
Webcast link:
crowdstrike-q4-and-fy25-financial-results-conference-call.open-exchange.net/registration
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 2026, 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 the content configuration update CrowdStrike released on July 19, 2024 for its Falcon sensor that resulted in system crashes for certain Windows systems (the “July 19 Incident”); 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.
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. Module adoption rates are calculated by taking the total number of customers with five or more, six or more, seven or more, and eight 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®, Voice of the Customer for Managed Detection and Response (MDR), 28 November 2024, Peer Contributors
3. SE Labs Enterprise Advanced Security (EDR) Ransomware Test, January 2025
4. The Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of CrowdStrike. The results are based on a composite organization representative of interviewed customers.
5. The Forrester Wave™: Managed Detection And Response Services, Q1 2025
6. Frost Radar™: SaaS Security Posture Management (SSPM), 2024
7. Frost Radar™ for Cloud-Native Application Protection Platforms (CNAPP), 2024
8. GigaOm Radar for Container Security, 10 December 2024
9. GigaOm Radar for Ransomware Prevention, 5 December 2024
10. KuppingerCole Leadership Compass for Managed Detection & Response (MDR), 4 December 2024
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 research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. (“Gartner”), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this earnings release, and the opinions expressed in the Gartner Content are subject to change without notice.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and PEER INSIGHTS is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
About CrowdStrike Holdings
CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity, and data.
Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft, and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting, and prioritized observability of vulnerabilities.
Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity, and immediate time-to-value.
CrowdStrike: We stop breaches.
For more information, please visit: ir.crowdstrike.com
© 2025 CrowdStrike, Inc. All rights reserved. CrowdStrike and CrowdStrike Falcon are marks owned by CrowdStrike, Inc. and are registered in the United States and other countries. CrowdStrike owns other trademarks and service marks and may use the brands of third parties to identify their products and services.
CROWDSTRIKE HOLDINGS, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Revenue
Subscription
$
1,008,316
$
795,947
$
3,761,480
$
2,870,557
Professional services
50,222
49,388
192,144
184,998
Total revenue
1,058,538
845,335
3,953,624
3,055,555
Cost of revenue
Subscription (1)(2)
229,641
175,509
835,509
630,745
Professional services (1)
44,349
33,063
155,972
124,978
Total cost of revenue
273,990
208,572
991,481
755,723
Gross profit
784,548
636,763
2,962,143
2,299,832
Operating expenses
Sales and marketing (1)(2)(4)(6)
409,504
290,357
1,523,356
1,140,566
Research and development (1)(2)(3)(4)(6)
315,142
213,998
1,076,901
768,497
General and administrative (1)(2)(3)(4)(5)(6)
145,203
102,737
482,316
392,764
Total operating expenses
869,849
607,092
3,082,573
2,301,827
Income (loss) from operations
(85,301
)
29,671
(120,430
)
(1,995
)
Interest expense(7)
(6,664
)
(6,422
)
(26,311
)
(25,756
)
Interest income
46,597
41,685
196,174
148,930
Other income (expense),net(8)(9)
(1,095
)
3,616
5,101
1,638
Income (loss) before provision for income taxes
(46,463
)
68,550
54,534
122,817
Provision for income taxes(10)
46,268
13,609
71,130
32,232
Net income (loss)
(92,731
)
54,941
(16,596
)
90,585
Net income (loss) attributable to non-controlling interest
(449
)
1,242
2,675
1,258
Net income (loss) attributable to CrowdStrike
$
(92,282
)
$
53,699
$
(19,271
)
$
89,327
Net income (loss) per share attributable to CrowdStrike common stockholders:
Basic
$
(0.37
)
$
0.22
$
(0.08
)
$
0.37
Diluted
$
(0.37
)
$
0.22
$
(0.08
)
$
0.37
Weighted-average shares used in computing net income (loss) per share attributable to CrowdStrike common stockholders:
Basic
246,933
240,856
244,750
238,637
Diluted
246,933
247,936
244,750
243,635
_____________________________
(1) Includes stock-based compensation expense as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Subscription cost of revenue
$
24,331
$
13,311
$
73,592
$
43,886
Professional services cost of revenue
10,011
6,282
31,126
22,302
Sales and marketing
69,585
46,083
235,499
175,808
Research and development
113,153
62,142
337,620
205,896
General and administrative
55,451
48,454
187,584
183,627
Total stock-based compensation expense
$
272,531
$
176,272
$
865,421
$
631,519
(2) Includes amortization of acquired intangible assets, including purchased patents, as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Subscription cost of revenue
$
6,153
$
4,819
$
21,976
$
15,560
Sales and marketing
846
602
2,654
2,085
Research and development
—
—
—
468
General and administrative
340
82
1,374
303
Total amortization of acquired intangible assets
$
7,339
$
5,503
$
26,004
$
18,416
(3) Includes acquisition-related expenses, net as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Research and development
$
—
$
—
$
477
$
750
General and administrative
1,475
428
5,550
3,632
Total acquisition-related expenses, net
$
1,475
$
428
$
6,027
$
4,382
(4) Includes mark-to-market adjustments on deferred compensation liabilities as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Sales and marketing
$
147
$
125
$
331
$
92
Research and development
51
81
253
61
General and administrative
—
31
27
23
Total mark-to-market adjustments on deferred compensation liabilities
$
198
$
237
$
611
$
176
(5) Includes legal reserve and settlement charges as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
General and administrative
$
—
$
1,000
$
—
$
7,797
Total legal reserve and settlement charges
$
—
$
1,000
$
—
$
7,797
(6) Includes July 19 Incident related costs, net such as legal fees, remediation costs, sensor testing costs, and insurance receivables among others, as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Sales and marketing
$
3,214
$
—
$
21,396
$
—
Research and development
2,230
—
6,780
—
General and administrative
15,564
—
31,886
—
Total July 19 Incident related costs, net
$
21,008
$
—
$
60,062
$
—
(7) Includes amortization of debt issuance costs and discount as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Interest expense
$
546
$
546
$
2,186
$
2,186
Total amortization of debt issuance costs and discount
$
546
$
546
$
2,186
$
2,186
(8) Includes gains (losses) and other income (expense) from strategic investments as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Other income (loss), net
$
(898
)
$
2,485
$
5,350
$
2,516
Total gains (losses) and other income (expense) from strategic investments
$
(898
)
$
2,485
$
5,350
$
2,516
(9) Includes gains on deferred compensation assets as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Other income, net
$
198
$
237
$
611
$
176
Total gains on deferred compensation assets
$
198
$
237
$
611
$
176
(10) Includes provision (benefit) for income taxes related to acquisitions as follows (in thousands):
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
Provision (benefit) for income taxes
$
49,883
$
—
$
49,883
$
(615
)
Total provision (benefit) for income taxes
$
49,883
$
—
$
49,883
$
(615
)
CROWDSTRIKE HOLDINGS, INC.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
January 31,
January 31,
2025
2024
Assets
Current assets:
Cash and cash equivalents
$
4,323,295
$
3,375,069
Short-term investments
—
99,591
Accounts receivable, net of allowance for credit losses
1,128,564
853,105
Deferred contract acquisition costs, current
347,042
246,370
Prepaid expenses and other current assets
314,444
183,172
Total current assets
6,113,345
4,757,307
Strategic investments
72,544
56,244
Property and equipment, net
788,640
620,172
Operating lease right-of-use assets
42,763
48,211
Deferred contract acquisition costs, noncurrent
500,908
335,933
Goodwill
912,805
638,041
Intangible assets, net
133,114
114,518
Other long-term assets
137,459
76,094
Total assets
$
8,701,578
$
6,646,520
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
130,887
$
28,180
Accrued expenses
191,349
125,896
Accrued payroll and benefits
319,243
234,624
Operating lease liabilities, current
13,811
14,150
Deferred revenue
2,733,005
2,270,757
Other current liabilities
72,755
23,672
Total current liabilities
3,461,050
2,697,279
Long-term debt
743,983
742,494
Deferred revenue, noncurrent
995,672
783,342
Operating lease liabilities, noncurrent
31,107
36,230
Other liabilities, noncurrent
150,849
50,086
Total liabilities
5,382,661
4,309,431
Commitments and contingencies
Stockholders’ Equity
Common stock, Class A and Class B
124
121
Additional paid-in capital
4,367,070
3,364,328
Accumulated deficit
(1,078,107
)
(1,058,836
)
Accumulated other comprehensive loss
(9,593
)
(1,663
)
Total CrowdStrike Holdings, Inc. stockholders’ equity
3,279,494
2,303,950
Non-controlling interest
39,423
33,139
Total stockholders’ equity
3,318,917
2,337,089
Total liabilities and stockholders’ equity
$
8,701,578
$
6,646,520
CROWDSTRIKE HOLDINGS, INC.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Year Ended January 31,
2025
2024
Operating activities
Net income (loss)
$
(16,596
)
$
90,585
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
187,952
126,838
Amortization of intangible assets
26,004
18,416
Amortization of deferred contract acquisition costs
318,837
238,901
Non-cash operating lease cost
15,283
13,398
Stock-based compensation expense
865,421
631,519
Deferred income taxes
(9,903
)
(3,387
)
Realized gains on strategic investments
(6,321
)
(3,936
)
Accretion of short-term investments purchased at a discount
2,285
(2,285
)
Non-cash interest expense
3,763
3,173
Change in fair value of strategic investments
1,000
1,459
Changes in operating assets and liabilities, net of impact of acquisitions
Accounts receivable, net
(274,219
)
(217,699
)
Deferred contract acquisition costs
(584,484
)
(371,649
)
Prepaid expenses and other assets
(190,232
)
(102,520
)
Accounts payable
84,939
(18,898
)
Accrued expenses and other liabilities
218,518
14,586
Accrued payroll and benefits
85,873
65,102
Operating lease liabilities
(15,657
)
(14,035
)
Deferred revenue
669,264
696,639
Net cash provided by operating activities
1,381,727
1,166,207
Investing activities
Purchases of property and equipment
(254,852
)
(176,529
)
Capitalized internal-use software and website development costs
(58,969
)
(49,457
)
Purchases of strategic investments
(19,702
)
(17,177
)
Proceeds from sales of strategic investments
12,507
2,000
Business acquisitions, net of cash acquired
(310,257
)
(239,030
)
Purchases of intangible assets
—
(11,126
)
Purchases of short-term investments
—
(195,581
)
Proceeds from maturities and sales of short-term investments
97,300
348,281
Purchases of deferred compensation investments
(2,721
)
(2,031
)
Proceeds from the sale of deferred compensation investments
106
—
Net cash used in investing activities
(536,588
)
(340,650
)
Financing activities
Proceeds from issuance of common stock upon exercise of stock options
3,983
8,695
Proceeds from issuance of common stock under the employee stock purchase plan
99,616
76,375
Distributions to non-controlling interest holders
(4,891
)
—
Capital contributions from non-controlling interest holders
8,500
8,088
Net cash provided by financing activities
107,208
93,158
Effect of foreign exchange rates on cash, cash equivalents and restricted cash
(5,278
)
1,958
Net increase in cash, cash equivalents and restricted cash
947,069
920,673
Cash, cash equivalents and restricted cash, at beginning of period
3,377,597
2,456,924
Cash, cash equivalents and restricted cash, at end of period
$
4,324,666
$
3,377,597
CROWDSTRIKE HOLDINGS, INC.
GAAP to Non-GAAP Reconciliations
(in thousands, except percentages)
(unaudited)
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
GAAP subscription revenue
$
1,008,316
$
795,947
$
3,761,480
$
2,870,557
GAAP professional services revenue
50,222
49,388
192,144
184,998
GAAP total revenue
$
1,058,538
$
845,335
$
3,953,624
$
3,055,555
GAAP subscription gross profit
$
778,675
$
620,438
$
2,925,971
$
2,239,812
Stock based compensation expense
24,331
13,311
73,592
43,886
Amortization of acquired intangible assets
6,153
4,819
21,976
15,560
Non-GAAP subscription gross profit
$
809,159
$
638,568
$
3,021,539
$
2,299,258
GAAP subscription gross margin
77
%
78
%
78
%
78
%
Non-GAAP subscription gross margin
80
%
80
%
80
%
80
%
GAAP professional services gross profit
$
5,873
$
16,325
$
36,172
$
60,020
Stock based compensation expense
10,011
6,282
31,126
22,302
Non-GAAP professional services gross profit
$
15,884
$
22,607
$
67,298
$
82,322
GAAP professional services gross margin
12
%
33
%
19
%
32
%
Non-GAAP professional services gross margin
32
%
46
%
35
%
44
%
Total GAAP gross margin
74
%
75
%
75
%
75
%
Total Non-GAAP gross margin
78
%
78
%
78
%
78
%
GAAP sales and marketing operating expenses
$
409,504
$
290,357
$
1,523,356
$
1,140,566
Stock based compensation expense
(69,585
)
(46,083
)
(235,499
)
(175,808
)
Amortization of acquired intangible assets
(846
)
(602
)
(2,654
)
(2,085
)
Mark-to-market adjustments on deferred compensation liabilities
(147
)
(125
)
(331
)
(92
)
July 19 Incident related costs, net
(3,214
)
—
(21,396
)
—
Non-GAAP sales and marketing operating expenses
$
335,712
$
243,547
$
1,263,476
$
962,581
GAAP sales and marketing operating expenses as a percentage of revenue
39
%
34
%
39
%
37
%
Non-GAAP sales and marketing operating expenses as a percentage of revenue
32
%
29
%
32
%
32
%
GAAP research and development operating expenses
$
315,142
$
213,998
$
1,076,901
$
768,497
Stock based compensation expense
(113,153
)
(62,142
)
(337,620
)
(205,896
)
Amortization of acquired intangible assets
—
—
—
(468
)
Acquisition-related expenses, net
—
—
(477
)
(750
)
Mark-to-market adjustments on deferred compensation liabilities
(51
)
(81
)
(253
)
(61
)
July 19 Incident related costs, net
(2,230
)
—
(6,780
)
—
Non-GAAP research and development operating expenses
$
199,708
$
151,775
$
731,771
$
561,322
GAAP research and development operating expenses as a percentage of revenue
30
%
25
%
27
%
25
%
Non-GAAP research and development operating expenses as a percentage of revenue
19
%
18
%
19
%
18
%
GAAP general and administrative operating expenses
$
145,203
$
102,737
$
482,316
$
392,764
Stock based compensation expense
(55,451
)
(48,454
)
(187,584
)
(183,627
)
Acquisition-related expenses, net
(1,475
)
(428
)
(5,550
)
(3,632
)
Amortization of acquired intangible assets
(340
)
(82
)
(1,374
)
(303
)
Mark-to-market adjustments on deferred compensation liabilities
—
(31
)
(27
)
(23
)
Legal reserve and settlement charges
—
(1,000
)
—
(7,797
)
July 19 Incident related costs, net
(15,564
)
—
(31,886
)
—
Non-GAAP general and administrative operating expenses
$
72,373
$
52,742
$
255,895
$
197,382
GAAP general and administrative operating expenses as a percentage of revenue
14
%
12
%
12
%
13
%
Non-GAAP general and administrative operating expenses as a percentage of revenue
7
%
6
%
6
%
6
%
CROWDSTRIKE HOLDINGS, INC.
GAAP to Non-GAAP Reconciliations (continued)
(in thousands, except per share amounts)
(unaudited)
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
GAAP income (loss) from operations
$
(85,301
)
$
29,671
$
(120,430
)
$
(1,995
)
Stock based compensation expense
272,531
176,272
865,421
631,519
Amortization of acquired intangible assets
7,339
5,503
26,004
18,416
Acquisition-related expenses, net
1,475
428
6,027
4,382
Mark-to-market adjustments on deferred compensation liabilities
198
237
611
176
Legal reserve and settlement charges
—
1,000
—
7,797
July 19 Incident related costs, net
21,008
—
60,062
—
Non-GAAP income from operations
$
217,250
$
213,111
$
837,695
$
660,295
GAAP operating margin
(8
)%
4
%
(3
)%
—
%
Non-GAAP operating margin
21
%
25
%
21
%
22
%
GAAP net income (loss) attributable to CrowdStrike
$
(92,282
)
$
53,699
$
(19,271
)
$
89,327
Stock based compensation expense
272,531
176,272
865,421
631,519
Amortization of acquired intangible assets
7,339
5,503
26,004
18,416
Acquisition-related expenses, net
1,475
428
6,027
4,382
Amortization of debt issuance costs and discount
546
546
2,186
2,186
Mark-to-market adjustments on deferred compensation liabilities
198
237
611
176
Legal reserve and settlement charges
—
1,000
—
7,797
July 19 Incident related costs, net
21,008
—
60,062
—
Provision (benefit) for income taxes1
49,883
—
49,883
(615
)
Losses (gains) and other income from strategic investments attributable to CrowdStrike
449
(1,242
)
(2,675
)
(1,258
)
Gains on deferred compensation assets
(198
)
(237
)
(611
)
(176
)
Non-GAAP net income attributable to CrowdStrike
$
260,949
$
236,206
$
987,637
$
751,754
Weighted-average shares used in computing GAAP basic net income (loss) per share attributable to CrowdStrike common stockholders
246,933
240,856
244,750
238,637
GAAP basic net income (loss) per share attributable to CrowdStrike common stockholders
$
(0.37
)
$
0.22
$
(0.08
)
$
0.37
GAAP diluted net income (loss) per share attributable to CrowdStrike common stockholders
$
(0.37
)
$
0.22
$
(0.08
)
$
0.37
Stock-based compensation
1.08
0.71
3.44
2.59
Amortization of acquired intangible assets
0.03
0.02
0.10
0.08
Acquisition-related expenses, net
0.01
—
0.02
0.02
Amortization of debt issuance costs and discount
—
—
0.01
0.01
Mark-to-market adjustments on deferred compensation liabilities
—
—
—
—
Legal reserve and settlement charges
—
—
—
0.03
July 19 Incident related costs, net
0.08
—
0.24
—
Provision (benefit) for income taxes1
0.20
—
0.20
—
Losses (gains) and other income from strategic investments attributable to CrowdStrike
—
(0.01
)
(0.01
)
(0.01
)
Gains on deferred compensation assets
—
—
—
—
Other (2)
—
0.01
0.01
—
Non-GAAP diluted net income per share attributable to CrowdStrike common stockholders
$
1.03
$
0.95
$
3.93
$
3.09
Weighted-average shares used to calculate Non-GAAP diluted net income per share attributable to CrowdStrike common stockholders
253,281
247,936
251,385
243,635
____________________________
(1)
CrowdStrike uses its GAAP provision for income taxes for the purpose of determining its non-GAAP income tax expense. The tax costs for intellectual property integration relating to acquisitions are included in the GAAP provision for income taxes. The income tax benefits related to stock-based compensation, amortization of acquired intangibles assets, including purchased patents, acquisition related expenses, amortization of debt issuance costs and discount, gains and other income from strategic investments attributable to CrowdStrike, July 19 Incident related costs and (recoveries), net, and legal reserve and settlement charges or benefits included in the GAAP provision for income taxes were not material for all periods presented. Please refer to the “Changes in Presentation of Non-GAAP Measures” section of this press release above for information regarding changes to the methodologies that will be used to calculate non-GAAP measures for periods starting on and after February 1, 2025.
(2)
For periods in which CrowdStrike had diluted non-GAAP net income per share attributable to CrowdStrike common stockholders, the sum of the impact of individual reconciling items may not total to diluted Non-GAAP net income per share attributable to CrowdStrike common stockholders because of rounding differences.
CROWDSTRIKE HOLDINGS, INC.
GAAP to Non-GAAP Reconciliations (continued)
(in thousands, except percentages)
(unaudited)
Three Months Ended January 31,
Year Ended January 31,
2025
2024
2025
2024
GAAP net cash provided by operating activities
$
345,722
$
347,016
$
1,381,727
$
1,166,207
Purchases of property and equipment
(87,211
)
(52,584
)
(254,852
)
(176,529
)
Capitalized internal-use software and website development costs
(17,703
)
(10,852
)
(58,969
)
(49,457
)
Purchases of deferred compensation investments
(906
)
(569
)
(2,721
)
(2,031
)
Proceeds from the sales of deferred compensation investments
(65
)
—
(106
)
—
Free cash flow
$
239,837
$
283,011
$
1,065,079
$
938,190
GAAP net cash provided by (used in) investing activities
$
(325,019
)
$
20,395
$
(536,588
)
$
(340,650
)
GAAP net cash provided by financing activities
$
46,386
$
33,460
$
107,208
$
93,158
GAAP net cash provided by operating activities as a percentage of revenue
33
%
41
%
35
%
38
%
Purchases of property and equipment as a percentage of revenue
(8
)%
(6
)%
(6
)%
(6
)%
Capitalized internal-use software and website development costs as a percentage of revenue
(2
)%
(1
)%
(1
)%
(2
)%
Purchases of deferred compensation investments as a percentage of revenue
—
%
—
%
—
%
—
%
Proceeds from the sale of deferred compensation investments
—
%
—
%
—
%
—
%
Free cash flow margin
23
%
33
%
27
%
31
%
Explanation of Non-GAAP Financial Measures
In addition to determining results in accordance with U.S. generally accepted accounting principles (“GAAP”), CrowdStrike believes the following non-GAAP measures are useful in evaluating its operating performance. CrowdStrike uses the following non-GAAP financial information to evaluate its ongoing operations and for internal planning and forecasting purposes. CrowdStrike believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and facilitates period-to-period comparisons of operations, as these measures eliminate the effects of certain variables unrelated to CrowdStrike’s overall operating performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP.
Other companies, including companies in CrowdStrike’s industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of CrowdStrike’s non-GAAP financial measures as tools for comparison.
Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate CrowdStrike’s business.
Non-GAAP Subscription Gross Profit and Non-GAAP Subscription Gross Margin
CrowdStrike defines non-GAAP subscription gross profit and non-GAAP subscription gross margin as GAAP subscription gross profit and GAAP subscription gross margin, respectively, excluding stock-based compensation expense, and amortization of acquired intangible assets
Non-GAAP Income from Operations
CrowdStrike defines non-GAAP income from operations as GAAP income (loss) from operations excluding stock-based compensation expense, amortization of acquired intangible assets (including purchased patents), acquisition-related expenses (credits), net, mark-to-market adjustments on deferred compensation liabilities, legal reserve and settlement charges or benefits, and July 19 Incident related costs and (recoveries), net.
Non-GAAP Net Income Attributable to CrowdStrike
The company defines non-GAAP net income attributable to CrowdStrike as GAAP net income (loss) attributable to CrowdStrike excluding stock-based compensation expense, amortization of acquired intangible assets (including purchased patents), acquisition-related expenses (credits), net, amortization of debt issuance costs and discount, mark-to-market adjustments on deferred compensation liabilities, legal reserve and settlement charges or benefits, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for income taxes, losses (gains) and other income from strategic investments, and losses (gains) on deferred compensation assets.
Non-GAAP Net Income per Share Attributable to CrowdStrike Common Stockholders, Diluted
CrowdStrike defines non-GAAP net income per share attributable to CrowdStrike common stockholders, as non-GAAP net income attributable to CrowdStrike divided by the weighted-average shares outstanding, which includes the dilutive effect of potentially dilutive common stock equivalents outstanding during the period.
Free Cash Flow
Free cash flow is a non-GAAP financial measure that CrowdStrike defines as net cash provided by operating activities less purchases of property and equipment, capitalized internal-use software and website development costs, purchases of deferred compensation investments, and proceeds from sale of deferred compensation investments. CrowdStrike monitors free cash flow as one measure of its overall business performance, which enables CrowdStrike to analyze its future performance without the effects of non-cash items and allow CrowdStrike to better understand the cash needs of its business. While CrowdStrike believes that free cash flow is useful in evaluating its business, free cash flow is a non-GAAP financial measure that has limitations as an analytical tool, and free cash flow should not be considered as an alternative to, or substitute for, net cash provided by operating activities in accordance with GAAP. The utility of free cash flow as a measure of CrowdStrike’s liquidity is further limited as it does not represent the total increase or decrease in CrowdStrike’s cash balance for any given period. In addition, other companies, including companies in CrowdStrike’s industry, may calculate free cash flow differently or not at all, which reduces the usefulness of free cash flow as a tool for comparison.
Explanation of Operational Measures
Annual Recurring Revenue
ARR is calculated as the annualized value of CrowdStrike’s customer subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms. To the extent that CrowdStrike is negotiating a renewal with a customer after the expiration of the subscription, CrowdStrike continues to include that revenue in ARR if CrowdStrike is actively in discussion with such an organization for a new subscription or renewal, or until such organization notifies CrowdStrike that it is not renewing its subscription.
Magic Number
Magic Number is calculated by performing the following calculation for the most recent four quarters and taking the average: annualizing the difference between a quarter’s Subscription Revenue and the prior quarter’s Subscription Revenue, and then dividing the resulting number by the previous quarter’s Non-GAAP Sales & Marketing Expense. Magic Number = Average of previous four quarters: ((Quarter GAAP Subscription Revenue – Prior Quarter GAAP Subscription Revenue) x 4) / Prior Quarter Non-GAAP Sales & Marketing Expense.
Free Cash Flow Rule of 40
Free cash flow rule of 40 is calculated by taking the current quarter total revenue year over year growth rate percentage and summing it with the current quarter free cash flow margin percentage.
Dollar-Based Gross Retention Rate
Dollar-based gross retention rate as of the period end is calculated by starting with the ARR from all subscription customers as of 12 months prior to such period, or Prior Period ARR. Then deduct from the Prior Period ARR any ARR from subscription customers who are no longer customers as of the current period end, or Current Period Remaining ARR. Then divide the total Current Period Remaining ARR by the total Prior Period ARR to arrive at our dollar-based gross retention rate, which is the percentage of ARR from all subscription customers as of the year prior that is not lost to customer churn.
Investor Relations Contact
CrowdStrike Holdings, Inc.
Maria Riley, Vice President of Investor Relations
investors@crowdstrike.com
669-721-0742
Press Contact
CrowdStrike Holdings, Inc.
Jake Schuster, Senior Director, Public Relations & Media Strategy
press@crowdstrike.com
Investor Relations Contact
CrowdStrike Holdings, Inc.
Maria Riley, Vice President of Investor Relations
investors@crowdstrike.com
669-721-0742
Press Contact
CrowdStrike Holdings, Inc.
Jake Schuster, Senior Director, Public Relations & Media Strategy
press@crowdstrike.com
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CROWDSTRIKE HOLDINGS, INC.
|
|
Q1 FY26 Guidance |
|
Full Year FY26 Guidance |
|
Total revenue |
$1,100.6 – $1,106.4 million |
|
$4,743.5 – $4,805.5 million |
|
Non-GAAP income from operations |
$173.1 – $180.0 million |
|
$944.2 – $985.1 million |
|
Non-GAAP net income attributable to CrowdStrike |
$162.1 – $167.5 million |
|
$851.2 – $883.0 million |
|
Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted |
$0.64 – $0.66 |
|
$3.33 – $3.45 |
|
Weighted average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted |
254 million |
|
256 million |
|
Date: |
March 4, 2025 |
|
Time: |
2:00 p.m. Pacific time / 5:00 p.m. Eastern time |
|
Webcast link: |
crowdstrike-q4-and-fy25-financial-results-conference-call.open-exchange.net/registration |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Revenue |
|
|
|
|
|
|
|
||||||||
|
Subscription |
$ |
1,008,316 |
|
|
$ |
795,947 |
|
|
$ |
3,761,480 |
|
|
$ |
2,870,557 |
|
|
Professional services |
|
50,222 |
|
|
|
49,388 |
|
|
|
192,144 |
|
|
|
184,998 |
|
|
Total revenue |
|
1,058,538 |
|
|
|
845,335 |
|
|
|
3,953,624 |
|
|
|
3,055,555 |
|
|
Cost of revenue |
|
|
|
|
|
|
|
||||||||
|
Subscription (1)(2) |
|
229,641 |
|
|
|
175,509 |
|
|
|
835,509 |
|
|
|
630,745 |
|
|
Professional services (1) |
|
44,349 |
|
|
|
33,063 |
|
|
|
155,972 |
|
|
|
124,978 |
|
|
Total cost of revenue |
|
273,990 |
|
|
|
208,572 |
|
|
|
991,481 |
|
|
|
755,723 |
|
|
Gross profit |
|
784,548 |
|
|
|
636,763 |
|
|
|
2,962,143 |
|
|
|
2,299,832 |
|
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
|
Sales and marketing (1)(2)(4)(6) |
|
409,504 |
|
|
|
290,357 |
|
|
|
1,523,356 |
|
|
|
1,140,566 |
|
|
Research and development (1)(2)(3)(4)(6) |
|
315,142 |
|
|
|
213,998 |
|
|
|
1,076,901 |
|
|
|
768,497 |
|
|
General and administrative (1)(2)(3)(4)(5)(6) |
|
145,203 |
|
|
|
102,737 |
|
|
|
482,316 |
|
|
|
392,764 |
|
|
Total operating expenses |
|
869,849 |
|
|
|
607,092 |
|
|
|
3,082,573 |
|
|
|
2,301,827 |
|
|
Income (loss) from operations |
|
(85,301 |
) |
|
|
29,671 |
|
|
|
(120,430 |
) |
|
|
(1,995 |
) |
|
Interest expense(7) |
|
(6,664 |
) |
|
|
(6,422 |
) |
|
|
(26,311 |
) |
|
|
(25,756 |
) |
|
Interest income |
|
46,597 |
|
|
|
41,685 |
|
|
|
196,174 |
|
|
|
148,930 |
|
|
Other income (expense),net(8)(9) |
|
(1,095 |
) |
|
|
3,616 |
|
|
|
5,101 |
|
|
|
1,638 |
|
|
Income (loss) before provision for income taxes |
|
(46,463 |
) |
|
|
68,550 |
|
|
|
54,534 |
|
|
|
122,817 |
|
|
Provision for income taxes(10) |
|
46,268 |
|
|
|
13,609 |
|
|
|
71,130 |
|
|
|
32,232 |
|
|
Net income (loss) |
|
(92,731 |
) |
|
|
54,941 |
|
|
|
(16,596 |
) |
|
|
90,585 |
|
|
Net income (loss) attributable to non-controlling interest |
|
(449 |
) |
|
|
1,242 |
|
|
|
2,675 |
|
|
|
1,258 |
|
|
Net income (loss) attributable to CrowdStrike |
$ |
(92,282 |
) |
|
$ |
53,699 |
|
|
$ |
(19,271 |
) |
|
$ |
89,327 |
|
|
Net income (loss) per share attributable to CrowdStrike common stockholders: |
|
|
|
|
|
|
|
||||||||
|
Basic |
$ |
(0.37 |
) |
|
$ |
0.22 |
|
|
$ |
(0.08 |
) |
|
$ |
0.37 |
|
|
Diluted |
$ |
(0.37 |
) |
|
$ |
0.22 |
|
|
$ |
(0.08 |
) |
|
$ |
0.37 |
|
|
Weighted-average shares used in computing net income (loss) per share attributable to CrowdStrike common stockholders: |
|
|
|
|
|
|
|
||||||||
|
Basic |
|
246,933 |
|
|
|
240,856 |
|
|
|
244,750 |
|
|
|
238,637 |
|
|
Diluted |
|
246,933 |
|
|
|
247,936 |
|
|
|
244,750 |
|
|
|
243,635 |
|
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Subscription cost of revenue |
$ |
24,331 |
|
$ |
13,311 |
|
$ |
73,592 |
|
$ |
43,886 |
|
Professional services cost of revenue |
|
10,011 |
|
|
6,282 |
|
|
31,126 |
|
|
22,302 |
|
Sales and marketing |
|
69,585 |
|
|
46,083 |
|
|
235,499 |
|
|
175,808 |
|
Research and development |
|
113,153 |
|
|
62,142 |
|
|
337,620 |
|
|
205,896 |
|
General and administrative |
|
55,451 |
|
|
48,454 |
|
|
187,584 |
|
|
183,627 |
|
Total stock-based compensation expense |
$ |
272,531 |
|
$ |
176,272 |
|
$ |
865,421 |
|
$ |
631,519 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Subscription cost of revenue |
$ |
6,153 |
|
$ |
4,819 |
|
$ |
21,976 |
|
$ |
15,560 |
|
Sales and marketing |
|
846 |
|
|
602 |
|
|
2,654 |
|
|
2,085 |
|
Research and development |
|
— |
|
|
— |
|
|
— |
|
|
468 |
|
General and administrative |
|
340 |
|
|
82 |
|
|
1,374 |
|
|
303 |
|
Total amortization of acquired intangible assets |
$ |
7,339 |
|
$ |
5,503 |
|
$ |
26,004 |
|
$ |
18,416 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Research and development |
$ |
— |
|
$ |
— |
|
$ |
477 |
|
$ |
750 |
|
General and administrative |
|
1,475 |
|
|
428 |
|
|
5,550 |
|
|
3,632 |
|
Total acquisition-related expenses, net |
$ |
1,475 |
|
$ |
428 |
|
$ |
6,027 |
|
$ |
4,382 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Sales and marketing |
$ |
147 |
|
$ |
125 |
|
$ |
331 |
|
$ |
92 |
|
Research and development |
|
51 |
|
|
81 |
|
|
253 |
|
|
61 |
|
General and administrative |
|
— |
|
|
31 |
|
|
27 |
|
|
23 |
|
Total mark-to-market adjustments on deferred compensation liabilities |
$ |
198 |
|
$ |
237 |
|
$ |
611 |
|
$ |
176 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
General and administrative |
$ |
— |
|
$ |
1,000 |
|
$ |
— |
|
$ |
7,797 |
|
Total legal reserve and settlement charges |
$ |
— |
|
$ |
1,000 |
|
$ |
— |
|
$ |
7,797 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Sales and marketing |
$ |
3,214 |
|
$ |
— |
|
$ |
21,396 |
|
$ |
— |
|
Research and development |
|
2,230 |
|
|
— |
|
|
6,780 |
|
|
— |
|
General and administrative |
|
15,564 |
|
|
— |
|
|
31,886 |
|
|
— |
|
Total July 19 Incident related costs, net |
$ |
21,008 |
|
$ |
— |
|
$ |
60,062 |
|
$ |
— |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Interest expense |
$ |
546 |
|
$ |
546 |
|
$ |
2,186 |
|
$ |
2,186 |
|
Total amortization of debt issuance costs and discount |
$ |
546 |
|
$ |
546 |
|
$ |
2,186 |
|
$ |
2,186 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Other income (loss), net |
$ |
(898 |
) |
|
$ |
2,485 |
|
$ |
5,350 |
|
$ |
2,516 |
|
Total gains (losses) and other income (expense) from strategic investments |
$ |
(898 |
) |
|
$ |
2,485 |
|
$ |
5,350 |
|
$ |
2,516 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Other income, net |
$ |
198 |
|
$ |
237 |
|
$ |
611 |
|
$ |
176 |
|
Total gains on deferred compensation assets |
$ |
198 |
|
$ |
237 |
|
$ |
611 |
|
$ |
176 |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
Provision (benefit) for income taxes |
$ |
49,883 |
|
$ |
— |
|
$ |
49,883 |
|
$ |
(615 |
) |
|
Total provision (benefit) for income taxes |
$ |
49,883 |
|
$ |
— |
|
$ |
49,883 |
|
$ |
(615 |
) |
|
|
January 31, |
|
January 31, |
||||
|
|
|
2025 |
|
|
|
2024 |
|
|
Assets |
|
|
|
||||
|
Current assets: |
|
|
|
||||
|
Cash and cash equivalents |
$ |
4,323,295 |
|
|
$ |
3,375,069 |
|
|
Short-term investments |
|
— |
|
|
|
99,591 |
|
|
Accounts receivable, net of allowance for credit losses |
|
1,128,564 |
|
|
|
853,105 |
|
|
Deferred contract acquisition costs, current |
|
347,042 |
|
|
|
246,370 |
|
|
Prepaid expenses and other current assets |
|
314,444 |
|
|
|
183,172 |
|
|
Total current assets |
|
6,113,345 |
|
|
|
4,757,307 |
|
|
Strategic investments |
|
72,544 |
|
|
|
56,244 |
|
|
Property and equipment, net |
|
788,640 |
|
|
|
620,172 |
|
|
Operating lease right-of-use assets |
|
42,763 |
|
|
|
48,211 |
|
|
Deferred contract acquisition costs, noncurrent |
|
500,908 |
|
|
|
335,933 |
|
|
Goodwill |
|
912,805 |
|
|
|
638,041 |
|
|
Intangible assets, net |
|
133,114 |
|
|
|
114,518 |
|
|
Other long-term assets |
|
137,459 |
|
|
|
76,094 |
|
|
Total assets |
$ |
8,701,578 |
|
|
$ |
6,646,520 |
|
|
Liabilities and Stockholders’ Equity |
|
|
|
||||
|
Current liabilities: |
|
|
|
||||
|
Accounts payable |
$ |
130,887 |
|
|
$ |
28,180 |
|
|
Accrued expenses |
|
191,349 |
|
|
|
125,896 |
|
|
Accrued payroll and benefits |
|
319,243 |
|
|
|
234,624 |
|
|
Operating lease liabilities, current |
|
13,811 |
|
|
|
14,150 |
|
|
Deferred revenue |
|
2,733,005 |
|
|
|
2,270,757 |
|
|
Other current liabilities |
|
72,755 |
|
|
|
23,672 |
|
|
Total current liabilities |
|
3,461,050 |
|
|
|
2,697,279 |
|
|
Long-term debt |
|
743,983 |
|
|
|
742,494 |
|
|
Deferred revenue, noncurrent |
|
995,672 |
|
|
|
783,342 |
|
|
Operating lease liabilities, noncurrent |
|
31,107 |
|
|
|
36,230 |
|
|
Other liabilities, noncurrent |
|
150,849 |
|
|
|
50,086 |
|
|
Total liabilities |
|
5,382,661 |
|
|
|
4,309,431 |
|
|
Commitments and contingencies |
|
|
|
||||
|
Stockholders’ Equity |
|
|
|
||||
|
Common stock, Class A and Class B |
|
124 |
|
|
|
121 |
|
|
Additional paid-in capital |
|
4,367,070 |
|
|
|
3,364,328 |
|
|
Accumulated deficit |
|
(1,078,107 |
) |
|
|
(1,058,836 |
) |
|
Accumulated other comprehensive loss |
|
(9,593 |
) |
|
|
(1,663 |
) |
|
Total CrowdStrike Holdings, Inc. stockholders’ equity |
|
3,279,494 |
|
|
|
2,303,950 |
|
|
Non-controlling interest |
|
39,423 |
|
|
|
33,139 |
|
|
Total stockholders’ equity |
|
3,318,917 |
|
|
|
2,337,089 |
|
|
Total liabilities and stockholders’ equity |
$ |
8,701,578 |
|
|
$ |
6,646,520 |
|
|
|
Year Ended January 31, |
||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
Operating activities |
|
|
|
||||
|
Net income (loss) |
$ |
(16,596 |
) |
|
$ |
90,585 |
|
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||||
|
Depreciation and amortization |
|
187,952 |
|
|
|
126,838 |
|
|
Amortization of intangible assets |
|
26,004 |
|
|
|
18,416 |
|
|
Amortization of deferred contract acquisition costs |
|
318,837 |
|
|
|
238,901 |
|
|
Non-cash operating lease cost |
|
15,283 |
|
|
|
13,398 |
|
|
Stock-based compensation expense |
|
865,421 |
|
|
|
631,519 |
|
|
Deferred income taxes |
|
(9,903 |
) |
|
|
(3,387 |
) |
|
Realized gains on strategic investments |
|
(6,321 |
) |
|
|
(3,936 |
) |
|
Accretion of short-term investments purchased at a discount |
|
2,285 |
|
|
|
(2,285 |
) |
|
Non-cash interest expense |
|
3,763 |
|
|
|
3,173 |
|
|
Change in fair value of strategic investments |
|
1,000 |
|
|
|
1,459 |
|
|
Changes in operating assets and liabilities, net of impact of acquisitions |
|
|
|
||||
|
Accounts receivable, net |
|
(274,219 |
) |
|
|
(217,699 |
) |
|
Deferred contract acquisition costs |
|
(584,484 |
) |
|
|
(371,649 |
) |
|
Prepaid expenses and other assets |
|
(190,232 |
) |
|
|
(102,520 |
) |
|
Accounts payable |
|
84,939 |
|
|
|
(18,898 |
) |
|
Accrued expenses and other liabilities |
|
218,518 |
|
|
|
14,586 |
|
|
Accrued payroll and benefits |
|
85,873 |
|
|
|
65,102 |
|
|
Operating lease liabilities |
|
(15,657 |
) |
|
|
(14,035 |
) |
|
Deferred revenue |
|
669,264 |
|
|
|
696,639 |
|
|
Net cash provided by operating activities |
|
1,381,727 |
|
|
|
1,166,207 |
|
|
Investing activities |
|
|
|
||||
|
Purchases of property and equipment |
|
(254,852 |
) |
|
|
(176,529 |
) |
|
Capitalized internal-use software and website development costs |
|
(58,969 |
) |
|
|
(49,457 |
) |
|
Purchases of strategic investments |
|
(19,702 |
) |
|
|
(17,177 |
) |
|
Proceeds from sales of strategic investments |
|
12,507 |
|
|
|
2,000 |
|
|
Business acquisitions, net of cash acquired |
|
(310,257 |
) |
|
|
(239,030 |
) |
|
Purchases of intangible assets |
|
— |
|
|
|
(11,126 |
) |
|
Purchases of short-term investments |
|
— |
|
|
|
(195,581 |
) |
|
Proceeds from maturities and sales of short-term investments |
|
97,300 |
|
|
|
348,281 |
|
|
Purchases of deferred compensation investments |
|
(2,721 |
) |
|
|
(2,031 |
) |
|
Proceeds from the sale of deferred compensation investments |
|
106 |
|
|
|
— |
|
|
Net cash used in investing activities |
|
(536,588 |
) |
|
|
(340,650 |
) |
|
Financing activities |
|
|
|
||||
|
Proceeds from issuance of common stock upon exercise of stock options |
|
3,983 |
|
|
|
8,695 |
|
|
Proceeds from issuance of common stock under the employee stock purchase plan |
|
99,616 |
|
|
|
76,375 |
|
|
Distributions to non-controlling interest holders |
|
(4,891 |
) |
|
|
— |
|
|
Capital contributions from non-controlling interest holders |
|
8,500 |
|
|
|
8,088 |
|
|
Net cash provided by financing activities |
|
107,208 |
|
|
|
93,158 |
|
|
|
|
|
|
||||
|
Effect of foreign exchange rates on cash, cash equivalents and restricted cash |
|
(5,278 |
) |
|
|
1,958 |
|
|
|
|
|
|
||||
|
Net increase in cash, cash equivalents and restricted cash |
|
947,069 |
|
|
|
920,673 |
|
|
|
|
|
|
||||
|
Cash, cash equivalents and restricted cash, at beginning of period |
|
3,377,597 |
|
|
|
2,456,924 |
|
|
Cash, cash equivalents and restricted cash, at end of period |
$ |
4,324,666 |
|
|
$ |
3,377,597 |
|
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
GAAP subscription revenue |
$ |
1,008,316 |
|
|
$ |
795,947 |
|
|
$ |
3,761,480 |
|
|
$ |
2,870,557 |
|
|
GAAP professional services revenue |
|
50,222 |
|
|
|
49,388 |
|
|
|
192,144 |
|
|
|
184,998 |
|
|
GAAP total revenue |
$ |
1,058,538 |
|
|
$ |
845,335 |
|
|
$ |
3,953,624 |
|
|
$ |
3,055,555 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP subscription gross profit |
$ |
778,675 |
|
|
$ |
620,438 |
|
|
$ |
2,925,971 |
|
|
$ |
2,239,812 |
|
|
Stock based compensation expense |
|
24,331 |
|
|
|
13,311 |
|
|
|
73,592 |
|
|
|
43,886 |
|
|
Amortization of acquired intangible assets |
|
6,153 |
|
|
|
4,819 |
|
|
|
21,976 |
|
|
|
15,560 |
|
|
Non-GAAP subscription gross profit |
$ |
809,159 |
|
|
$ |
638,568 |
|
|
$ |
3,021,539 |
|
|
$ |
2,299,258 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP subscription gross margin |
|
77 |
% |
|
|
78 |
% |
|
|
78 |
% |
|
|
78 |
% |
|
Non-GAAP subscription gross margin |
|
80 |
% |
|
|
80 |
% |
|
|
80 |
% |
|
|
80 |
% |
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP professional services gross profit |
$ |
5,873 |
|
|
$ |
16,325 |
|
|
$ |
36,172 |
|
|
$ |
60,020 |
|
|
Stock based compensation expense |
|
10,011 |
|
|
|
6,282 |
|
|
|
31,126 |
|
|
|
22,302 |
|
|
Non-GAAP professional services gross profit |
$ |
15,884 |
|
|
$ |
22,607 |
|
|
$ |
67,298 |
|
|
$ |
82,322 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP professional services gross margin |
|
12 |
% |
|
|
33 |
% |
|
|
19 |
% |
|
|
32 |
% |
|
Non-GAAP professional services gross margin |
|
32 |
% |
|
|
46 |
% |
|
|
35 |
% |
|
|
44 |
% |
|
|
|
|
|
|
|
|
|
||||||||
|
Total GAAP gross margin |
|
74 |
% |
|
|
75 |
% |
|
|
75 |
% |
|
|
75 |
% |
|
Total Non-GAAP gross margin |
|
78 |
% |
|
|
78 |
% |
|
|
78 |
% |
|
|
78 |
% |
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP sales and marketing operating expenses |
$ |
409,504 |
|
|
$ |
290,357 |
|
|
$ |
1,523,356 |
|
|
$ |
1,140,566 |
|
|
Stock based compensation expense |
|
(69,585 |
) |
|
|
(46,083 |
) |
|
|
(235,499 |
) |
|
|
(175,808 |
) |
|
Amortization of acquired intangible assets |
|
(846 |
) |
|
|
(602 |
) |
|
|
(2,654 |
) |
|
|
(2,085 |
) |
|
Mark-to-market adjustments on deferred compensation liabilities |
|
(147 |
) |
|
|
(125 |
) |
|
|
(331 |
) |
|
|
(92 |
) |
|
July 19 Incident related costs, net |
|
(3,214 |
) |
|
|
— |
|
|
|
(21,396 |
) |
|
|
— |
|
|
Non-GAAP sales and marketing operating expenses |
$ |
335,712 |
|
|
$ |
243,547 |
|
|
$ |
1,263,476 |
|
|
$ |
962,581 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP sales and marketing operating expenses as a percentage of revenue |
|
39 |
% |
|
|
34 |
% |
|
|
39 |
% |
|
|
37 |
% |
|
Non-GAAP sales and marketing operating expenses as a percentage of revenue |
|
32 |
% |
|
|
29 |
% |
|
|
32 |
% |
|
|
32 |
% |
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP research and development operating expenses |
$ |
315,142 |
|
|
$ |
213,998 |
|
|
$ |
1,076,901 |
|
|
$ |
768,497 |
|
|
Stock based compensation expense |
|
(113,153 |
) |
|
|
(62,142 |
) |
|
|
(337,620 |
) |
|
|
(205,896 |
) |
|
Amortization of acquired intangible assets |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(468 |
) |
|
Acquisition-related expenses, net |
|
— |
|
|
|
— |
|
|
|
(477 |
) |
|
|
(750 |
) |
|
Mark-to-market adjustments on deferred compensation liabilities |
|
(51 |
) |
|
|
(81 |
) |
|
|
(253 |
) |
|
|
(61 |
) |
|
July 19 Incident related costs, net |
|
(2,230 |
) |
|
|
— |
|
|
|
(6,780 |
) |
|
|
— |
|
|
Non-GAAP research and development operating expenses |
$ |
199,708 |
|
|
$ |
151,775 |
|
|
$ |
731,771 |
|
|
$ |
561,322 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP research and development operating expenses as a percentage of revenue |
|
30 |
% |
|
|
25 |
% |
|
|
27 |
% |
|
|
25 |
% |
|
Non-GAAP research and development operating expenses as a percentage of revenue |
|
19 |
% |
|
|
18 |
% |
|
|
19 |
% |
|
|
18 |
% |
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP general and administrative operating expenses |
$ |
145,203 |
|
|
$ |
102,737 |
|
|
$ |
482,316 |
|
|
$ |
392,764 |
|
|
Stock based compensation expense |
|
(55,451 |
) |
|
|
(48,454 |
) |
|
|
(187,584 |
) |
|
|
(183,627 |
) |
|
Acquisition-related expenses, net |
|
(1,475 |
) |
|
|
(428 |
) |
|
|
(5,550 |
) |
|
|
(3,632 |
) |
|
Amortization of acquired intangible assets |
|
(340 |
) |
|
|
(82 |
) |
|
|
(1,374 |
) |
|
|
(303 |
) |
|
Mark-to-market adjustments on deferred compensation liabilities |
|
— |
|
|
|
(31 |
) |
|
|
(27 |
) |
|
|
(23 |
) |
|
Legal reserve and settlement charges |
|
— |
|
|
|
(1,000 |
) |
|
|
— |
|
|
|
(7,797 |
) |
|
July 19 Incident related costs, net |
|
(15,564 |
) |
|
|
— |
|
|
|
(31,886 |
) |
|
|
— |
|
|
Non-GAAP general and administrative operating expenses |
$ |
72,373 |
|
|
$ |
52,742 |
|
|
$ |
255,895 |
|
|
$ |
197,382 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP general and administrative operating expenses as a percentage of revenue |
|
14 |
% |
|
|
12 |
% |
|
|
12 |
% |
|
|
13 |
% |
|
Non-GAAP general and administrative operating expenses as a percentage of revenue |
|
7 |
% |
|
|
6 |
% |
|
|
6 |
% |
|
|
6 |
% |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
GAAP income (loss) from operations |
$ |
(85,301 |
) |
|
$ |
29,671 |
|
|
$ |
(120,430 |
) |
|
$ |
(1,995 |
) |
|
Stock based compensation expense |
|
272,531 |
|
|
|
176,272 |
|
|
|
865,421 |
|
|
|
631,519 |
|
|
Amortization of acquired intangible assets |
|
7,339 |
|
|
|
5,503 |
|
|
|
26,004 |
|
|
|
18,416 |
|
|
Acquisition-related expenses, net |
|
1,475 |
|
|
|
428 |
|
|
|
6,027 |
|
|
|
4,382 |
|
|
Mark-to-market adjustments on deferred compensation liabilities |
|
198 |
|
|
|
237 |
|
|
|
611 |
|
|
|
176 |
|
|
Legal reserve and settlement charges |
|
— |
|
|
|
1,000 |
|
|
|
— |
|
|
|
7,797 |
|
|
July 19 Incident related costs, net |
|
21,008 |
|
|
|
— |
|
|
|
60,062 |
|
|
|
— |
|
|
Non-GAAP income from operations |
$ |
217,250 |
|
|
$ |
213,111 |
|
|
$ |
837,695 |
|
|
$ |
660,295 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP operating margin |
|
(8 |
)% |
|
|
4 |
% |
|
|
(3 |
)% |
|
|
— |
% |
|
Non-GAAP operating margin |
|
21 |
% |
|
|
25 |
% |
|
|
21 |
% |
|
|
22 |
% |
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP net income (loss) attributable to CrowdStrike |
$ |
(92,282 |
) |
|
$ |
53,699 |
|
|
$ |
(19,271 |
) |
|
$ |
89,327 |
|
|
Stock based compensation expense |
|
272,531 |
|
|
|
176,272 |
|
|
|
865,421 |
|
|
|
631,519 |
|
|
Amortization of acquired intangible assets |
|
7,339 |
|
|
|
5,503 |
|
|
|
26,004 |
|
|
|
18,416 |
|
|
Acquisition-related expenses, net |
|
1,475 |
|
|
|
428 |
|
|
|
6,027 |
|
|
|
4,382 |
|
|
Amortization of debt issuance costs and discount |
|
546 |
|
|
|
546 |
|
|
|
2,186 |
|
|
|
2,186 |
|
|
Mark-to-market adjustments on deferred compensation liabilities |
|
198 |
|
|
|
237 |
|
|
|
611 |
|
|
|
176 |
|
|
Legal reserve and settlement charges |
|
— |
|
|
|
1,000 |
|
|
|
— |
|
|
|
7,797 |
|
|
July 19 Incident related costs, net |
|
21,008 |
|
|
|
— |
|
|
|
60,062 |
|
|
|
— |
|
|
Provision (benefit) for income taxes1 |
|
49,883 |
|
|
|
— |
|
|
|
49,883 |
|
|
|
(615 |
) |
|
Losses (gains) and other income from strategic investments attributable to CrowdStrike |
|
449 |
|
|
|
(1,242 |
) |
|
|
(2,675 |
) |
|
|
(1,258 |
) |
|
Gains on deferred compensation assets |
|
(198 |
) |
|
|
(237 |
) |
|
|
(611 |
) |
|
|
(176 |
) |
|
Non-GAAP net income attributable to CrowdStrike |
$ |
260,949 |
|
|
$ |
236,206 |
|
|
$ |
987,637 |
|
|
$ |
751,754 |
|
|
Weighted-average shares used in computing GAAP basic net income (loss) per share attributable to CrowdStrike common stockholders |
|
246,933 |
|
|
|
240,856 |
|
|
|
244,750 |
|
|
|
238,637 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP basic net income (loss) per share attributable to CrowdStrike common stockholders |
$ |
(0.37 |
) |
|
$ |
0.22 |
|
|
$ |
(0.08 |
) |
|
$ |
0.37 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP diluted net income (loss) per share attributable to CrowdStrike common stockholders |
$ |
(0.37 |
) |
|
$ |
0.22 |
|
|
$ |
(0.08 |
) |
|
$ |
0.37 |
|
|
Stock-based compensation |
|
1.08 |
|
|
|
0.71 |
|
|
|
3.44 |
|
|
|
2.59 |
|
|
Amortization of acquired intangible assets |
|
0.03 |
|
|
|
0.02 |
|
|
|
0.10 |
|
|
|
0.08 |
|
|
Acquisition-related expenses, net |
|
0.01 |
|
|
|
— |
|
|
|
0.02 |
|
|
|
0.02 |
|
|
Amortization of debt issuance costs and discount |
|
— |
|
|
|
— |
|
|
|
0.01 |
|
|
|
0.01 |
|
|
Mark-to-market adjustments on deferred compensation liabilities |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Legal reserve and settlement charges |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.03 |
|
|
July 19 Incident related costs, net |
|
0.08 |
|
|
|
— |
|
|
|
0.24 |
|
|
|
— |
|
|
Provision (benefit) for income taxes1 |
|
0.20 |
|
|
|
— |
|
|
|
0.20 |
|
|
|
— |
|
|
Losses (gains) and other income from strategic investments attributable to CrowdStrike |
|
— |
|
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
Gains on deferred compensation assets |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Other (2) |
|
— |
|
|
|
0.01 |
|
|
|
0.01 |
|
|
|
— |
|
|
Non-GAAP diluted net income per share attributable to CrowdStrike common stockholders |
$ |
1.03 |
|
|
$ |
0.95 |
|
|
$ |
3.93 |
|
|
$ |
3.09 |
|
|
Weighted-average shares used to calculate Non-GAAP diluted net income per share attributable to CrowdStrike common stockholders |
|
253,281 |
|
|
|
247,936 |
|
|
|
251,385 |
|
|
|
243,635 |
|
|
(1) |
CrowdStrike uses its GAAP provision for income taxes for the purpose of determining its non-GAAP income tax expense. The tax costs for intellectual property integration relating to acquisitions are included in the GAAP provision for income taxes. The income tax benefits related to stock-based compensation, amortization of acquired intangibles assets, including purchased patents, acquisition related expenses, amortization of debt issuance costs and discount, gains and other income from strategic investments attributable to CrowdStrike, July 19 Incident related costs and (recoveries), net, and legal reserve and settlement charges or benefits included in the GAAP provision for income taxes were not material for all periods presented. Please refer to the “Changes in Presentation of Non-GAAP Measures” section of this press release above for information regarding changes to the methodologies that will be used to calculate non-GAAP measures for periods starting on and after February 1, 2025. |
|
|
(2) |
For periods in which CrowdStrike had diluted non-GAAP net income per share attributable to CrowdStrike common stockholders, the sum of the impact of individual reconciling items may not total to diluted Non-GAAP net income per share attributable to CrowdStrike common stockholders because of rounding differences. |
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
GAAP net cash provided by operating activities |
$ |
345,722 |
|
|
$ |
347,016 |
|
|
$ |
1,381,727 |
|
|
$ |
1,166,207 |
|
|
Purchases of property and equipment |
|
(87,211 |
) |
|
|
(52,584 |
) |
|
|
(254,852 |
) |
|
|
(176,529 |
) |
|
Capitalized internal-use software and website development costs |
|
(17,703 |
) |
|
|
(10,852 |
) |
|
|
(58,969 |
) |
|
|
(49,457 |
) |
|
Purchases of deferred compensation investments |
|
(906 |
) |
|
|
(569 |
) |
|
|
(2,721 |
) |
|
|
(2,031 |
) |
|
Proceeds from the sales of deferred compensation investments |
|
(65 |
) |
|
|
— |
|
|
|
(106 |
) |
|
|
— |
|
|
Free cash flow |
$ |
239,837 |
|
|
$ |
283,011 |
|
|
$ |
1,065,079 |
|
|
$ |
938,190 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP net cash provided by (used in) investing activities |
$ |
(325,019 |
) |
|
$ |
20,395 |
|
|
$ |
(536,588 |
) |
|
$ |
(340,650 |
) |
|
GAAP net cash provided by financing activities |
$ |
46,386 |
|
|
$ |
33,460 |
|
|
$ |
107,208 |
|
|
$ |
93,158 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
GAAP net cash provided by operating activities as a percentage of revenue |
|
33 |
% |
|
|
41 |
% |
|
|
35 |
% |
|
|
38 |
% |
|
Purchases of property and equipment as a percentage of revenue |
|
(8 |
)% |
|
|
(6 |
)% |
|
|
(6 |
)% |
|
|
(6 |
)% |
|
Capitalized internal-use software and website development costs as a percentage of revenue |
|
(2 |
)% |
|
|
(1 |
)% |
|
|
(1 |
)% |
|
|
(2 |
)% |
|
Purchases of deferred compensation investments as a percentage of revenue |
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
Proceeds from the sale of deferred compensation investments |
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
Free cash flow margin |
|
23 |
% |
|
|
33 |
% |
|
|
27 |
% |
|
|
31 |
% |
