Press release
CrowdStrike Reports First Quarter Fiscal Year 2024 Financial Results
Achieves record revenue, GAAP and non-GAAP earnings, cash flow from operations and free cash flow Ending ARR grows 42% year-over-year to reach $2.73 billion,
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\n\nAchieves record revenue, GAAP and non-GAAP earnings, cash flow from operations and free cash flow\n\n\n\nEnding ARR grows 42% year-over-year to reach $2.73 billion, adding $174 million in net new ARR\n\n\n\nDelivers record GAAP subscription gross margin of 78% and record non-GAAP subscription gross margin of 80%\n\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 2024, ended April 30, 2023.\n\n\n“CrowdStrike's first quarter results exceeded our guided metrics and reached new financial milestones, delivering the winning combination of growth, profitability and free cash flow at scale,” said George Kurtz, CrowdStrike’s president, chief executive officer and co-founder. \"Our demonstrated leadership in leveraging AI to drive better security outcomes and consolidate security spend strategically positions CrowdStrike to win in our markets.”\n\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “Highlights of the quarter included a rule of 75 on a free cash flow basis and records across revenue, gross margin, GAAP and non-GAAP earnings, and cash flow. Through our relentless focus on execution, we achieved these records while remaining capital efficient and increasing module adoption rates.”\n\n\nFirst Quarter Fiscal 2024 Financial Highlights\n\n\n\nRevenue: Total revenue was $692.6 million, a 42% increase, compared to $487.8 million in the first quarter of fiscal 2023. Subscription revenue was $651.2 million, a 42% increase, compared to $459.8 million in the first quarter of fiscal 2023.\n\n\n\n\nAnnual Recurring Revenue (ARR) increased 42% year-over-year and grew to $2.73 billion as of April 30, 2023, of which $174.2 million was net new ARR added in the quarter.\n\n\n\n\nSubscription Gross Margin: GAAP subscription gross margin was 78%, compared to 77% in the first quarter of fiscal 2023. Non-GAAP subscription gross margin was 80%, compared to 79% in the first quarter of fiscal 2023.\n\n\n\n\nIncome/Loss from Operations: GAAP loss from operations was $19.5 million, compared to $23.9 million in the first quarter of fiscal 2023. Non-GAAP income from operati...