Press release
CrowdStrike Reports Fourth Quarter and Fiscal Year 2023 Financial Results
Fourth quarter highlights Record net new ARR of $222 million Ending ARR grows 48% year-over-year to reach $2.56 billion Record cash flow from operations of
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\nFourth quarter highlights\n\n\nRecord net new ARR of $222 million\n\n\nEnding ARR grows 48% year-over-year to reach $2.56 billion\n\n\nRecord cash flow from operations of $273 million and record free cash flow of $209 million\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 fourth quarter and fiscal year 2023, ended January 31, 2023.\n\n“CrowdStrike delivered a record fourth quarter that exceeded our expectations across the board,” said George Kurtz, CrowdStrike’s president, chief executive officer and co-founder. “Highlights of the quarter included record net new ARR of $222 million, record net new subscription customers of 1,873, record operating and free cash flow and a rule of 81 on a free cash flow basis. CrowdStrike’s growing market share showcases customers' recognition of the Falcon platform’s technology leadership and advanced AI that drives better security outcomes, consolidation and lower TCO.”\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “CrowdStrike delivered an exceptional fourth quarter and strong finish to the year. We remain focused on delivering increased operating leverage while continuing our thoughtful, disciplined and strategic approach to investing in innovation and market share expansion to capture the massive opportunities we see ahead for CrowdStrike.\"\n\nFourth Quarter Fiscal 2023 Financial Highlights\n\n\nRevenue: Total revenue was $637.4 million, a 48% increase, compared to $431.0 million in the fourth quarter of fiscal 2022. Subscription revenue was $598.3 million, a 48% increase, compared to $405.4 million in the fourth quarter of fiscal 2022.\n\n\n\nAnnual Recurring Revenue (ARR) increased 48% year-over-year and grew to $2.56 billion as of January 31, 2023, of which $221.7 million was net new ARR added in the quarter.\n\n\n\nSubscription Gross Margin: GAAP subscription gross margin was 75%, compared to 76% in the fourth quarter of fiscal 2022. Non-GAAP subscription gross margin was 77%, compared to 79% in the fourth quarter of fiscal 2022.\n\n\n\nIncome/Loss from Operations: GAAP loss from operations was $61.5 million, compared to $23.5 ...