Press release
CrowdStrike Reports Fiscal First Quarter 2021 Financial Results
Achieves $686 million in ARR, 89% year-over-year subscription revenue growth, and record operating and free cash flow SUNNYVALE, Calif.--(BUSINESS WIRE)--
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\nAchieves $686 million in ARR, 89% year-over-year subscription revenue growth, and record operating and free cash flow\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nCrowdStrike Holdings, Inc., (Nasdaq: CRWD), a leader in cloud-delivered endpoint protection, today announced financial results for the first quarter of its fiscal 2021, ended April 30, 2020.\n\n\n“CrowdStrike finished the quarter with strong momentum and delivered results that exceeded our expectations across the board,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer. \"An increasing number of organizations recognize the power of CrowdStrike’s cloud-native Falcon platform to effectively stop breaches as well as simplify their security and I.T. operations stack with a single, lightweight agent. Cybersecurity is mission critical and in the quarter our customers continued to prioritize their cybersecurity investments. With both security administrators and end-users working from home, we believe the rapid shift to a remote workforce has helped increase our leadership. We achieved 88% ARR growth and 105% subscription customer growth year-over-year as we continue to partner with customers to protect and manage their critical workloads in a heightened threat landscape and a rapidly evolving business environment.”\n\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “As a result of our strong execution across the quarter and continued focus on unit economics, we drove substantial operating leverage, reduced GAAP operating loss and achieved non-GAAP operating profitability for the first time in company history. While continuing to aggressively invest in our business, we generated record positive cash flow from operations and free cash flow.”\n\n\nFirst Quarter Fiscal 2021 Financial Highlights\n\n\n\nRevenue: Total revenue was $178.1 million, an 85% increase, compared to $96.1 million in the first quarter of fiscal 2020. Subscription revenue was $162.2 million, an 89% increase, compared to $86.0 million in the first quarter of fiscal 2020.\n\n\n\n\nAnnual Recurring Revenue (ARR) increased 88% year-over-year and grew to $686.1 million as of April 30, 2020, of which $85.7 million was net new ARR added in the quarter.\n\n\n\n\nSubscription Gross Margin: GAAP subscription gross margin was 77%, compare...