Press release
CrowdStrike Reports First Quarter Fiscal Year 2023 Financial Results
Ending ARR grows 61% year-over-year to $1.9 billion with over $190 million in net new ARR Cash flow from operations grows 46% year-over-year to a record $215
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\n\nEnding ARR grows 61% year-over-year to $1.9 billion with over $190 million in net new ARR\n\n\nCash flow from operations grows 46% year-over-year to a record $215 million and free cash flow grows 34% year-over-year to a record $158 million\n\n\nRaises revenue and profit guidance for fiscal year 2023\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nCrowdStrike 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 first quarter fiscal year 2023, ended April 30, 2022.\n\n“CrowdStrike delivered an exceptional first quarter to kick off the fiscal year with $190 million in net new ARR, 61% ending ARR growth at scale and record cash flow. We saw strength across the platform including a record quarter for modules deployed in the public cloud, and over 100% year-over-year ending ARR growth for our emerging product group, which includes our Discover, Spotlight, Identity Protection and Log Management modules. We believe our single agent architecture, frictionless go-to-market, and rapid innovation engine provide CrowdStrike a wide competitive moat along with multiple avenues to drive long-term sustainable growth in both our core and expansion markets,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer.\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, \"Robust growth at an increased scale along with our relentless focus on execution and unit economics drove significant year-over-year operating leverage and record cash generation even as we increased investments to capture the substantial market opportunity ahead of us. Additionally, gross retention rates reached an all-time high and the number of customers adopting six or more and seven or more modules both more than doubled year-over-year, underscoring the immense value we deliver to customers seeking to transform, consolidate and fortify their security defenses.”\n\nFirst Quarter Fiscal 2023 Financial Highlights\n\n\nRevenue: Total revenue was $487.8 million, a 61% increase, compared to $302.8 million in the first quarter of fiscal 2022. Subscription revenue was $459.8 million, a 64% increase, compared to $281.2 million in the first quarter of fiscal 2022.\n\n\nAnnual Recurr...