Press release
CrowdStrike Reports Second Quarter Fiscal Year 2024 Financial Results
Achieves GAAP profitability for the second sequential quarter and delivers record non-GAAP net income Ending ARR grows 37% year-over-year to reach $2.93
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\n\nAchieves GAAP profitability for the second sequential quarter and delivers record non-GAAP net income\n\n\n\nEnding ARR grows 37% year-over-year to reach $2.93 billion, adding $196 million in net new ARR\n\n\n\nDelivers record Q2 cash flow from operations of $245 million and record Q2 free cash flow of $189 million\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 second quarter fiscal year 2024, ended July 31, 2023.\n\n\n“CrowdStrike delivered strong growth at scale, exceeding our guidance across both top and bottom line metrics in the second quarter,” said George Kurtz, CrowdStrike's president, chief executive officer and co-founder. “The AI-powered Falcon platform’s native capabilities across our cloud, identity, and next-gen SIEM businesses are unique in the market, in aggregate contributing well over half a billion dollars in ending ARR. Our platform strategy sets us apart from the competition, resulting in high win rates as customers rapidly embrace Falcon to consolidate vendors, lower TCO and achieve better security outcomes.”\n\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike's chief financial officer, added, \"Our relentless focus on execution and operational excellence drove strong profitable growth at scale and new milestones for both GAAP and non-GAAP profitability in the second quarter. We achieved our target model range for non-GAAP operating margin for the first time in company history, well ahead of our planned timeline, and now expect to exit the year with fourth quarter non-GAAP operating margin within our target model. Beyond fiscal 2024, we expect to sustainably deliver non-GAAP operating margin within the target model on an annual basis.”\n\n\nSecond Quarter Fiscal 2024 Financial Highlights\n\n\n\nRevenue: Total revenue was $731.6 million, a 37% increase, compared to $535.2 million in the second quarter of fiscal 2023. Subscription revenue was $690.0 million, a 36% increase, compared to $506.2 million in the second quarter of fiscal 2023.\n\n\n\n\nAnnual Recurring Revenue (ARR) increased 37% year-over-year and grew to $2.93 billion as of July 31, 2023, of which $196.2 million was net...