Press release
CrowdStrike Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Ending ARR grows 34% year-over-year to reach $3.44 billion Net new ARR growth accelerates to 27% year-over-year and reaches a record $282 million Achieves
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\n\nEnding ARR grows 34% year-over-year to reach $3.44 billion\n\n\n\nNet new ARR growth accelerates to 27% year-over-year and reaches a record $282 million\n\n\n\nAchieves fourth consecutive quarter of both record GAAP and non-GAAP net income\n\n\n\nDelivers record operating and free cash flow\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 fourth quarter and fiscal year 2024, ended January 31, 2024.\n\n\n\"CrowdStrike delivered an exceptionally strong and record fourth quarter with net new ARR growth accelerating to 27% year-over-year, reaching a new high of $282 million and ending ARR growing 34% year-over-year to reach $3.44 billion,” said George Kurtz, CrowdStrike's president, chief executive officer and co-founder. “Customers favor our single platform approach, standardizing on CrowdStrike for cloud security, identity protection, and LogScale next-gen SIEM solutions, together representing more than $850 million of ending ARR. CrowdStrike is cybersecurity’s consolidator of choice, innovator of choice, and platform of choice to stop breaches.”\n\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike's chief financial officer, added, “Highlights of the fiscal year included, ending ARR growing 34%, four consecutive quarters of GAAP net income, 104% non-GAAP net income growth and free cash flow margin of 31%, exceeding our target for the year. Our achievements in fiscal 2024 represent another high-water mark for CrowdStrike and we remain relentlessly focused on profitably scaling the business to $10 billion ARR and beyond.\"\n\n\nFourth Quarter Fiscal 2024 Financial Highlights\n\n\n\nRevenue: Total revenue was $845.3 million, a 33% increase, compared to $637.4 million in the fourth quarter of fiscal 2023. Subscription revenue was $795.9 million, a 33% increase, compared to $598.3 million in the fourth quarter of fiscal 2023.\n\n\n\nAnnual Recurring Revenue (ARR) increased 34% year-over-year and grew to $3.44 billion as of January 31, 2024, of which $281.9 million was net new ARR added in the quarter.\n\n\n\nSubscription Gross Margin: GAAP subscription gross margin was 78%, compared to 75% in the fourth quarter ...