Press release
CrowdStrike Reports Third Quarter Fiscal Year 2024 Financial Results
Ending ARR surpasses $3 billion milestone, growing 35% year-over-year to reach $3.15 billion Record net new ARR of $223 million driven by accelerating
About this update from Crowdstrike Holdings, Inc.
[{"type":"text","content":"\n\nEnding ARR surpasses $3 billion milestone, growing 35% year-over-year to reach $3.15 billion\n\n\n\nRecord net new ARR of $223 million driven by accelerating year-over-year growth\n\n\n\nDelivers record profitability\n\n\n\nAchieves record Q3 cash flow from operations and record 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 third quarter fiscal year 2024, ended October 31, 2023.\n\n\n“CrowdStrike’s record third quarter exceeded expectations, delivering new milestones across the business: net new ARR growth accelerated to a record $223 million and ending ARR surpassed $3 billion, making CrowdStrike the fastest and only pure play cybersecurity software vendor in history to achieve this milestone,\" said George Kurtz, CrowdStrike's president, chief executive officer and co-founder. \"Our single platform architecture and unique data advantage unites security and I.T. teams in solving cybersecurity’s mission-critical challenges, driving increased win rates and record pipeline. Customers increasingly trust the AI-native Falcon XDR platform as their cybersecurity consolidator of choice.”\n\n\nCommenting on the company's financial results, Burt Podbere, CrowdStrike's chief financial officer, added, “Our relentless focus on operational excellence drove record operating margin, net income and free cash flow, while at the same time we continued aggressively investing in our innovation engine to flight the company to achieve its vision of reaching $10 billion in ARR over the next five to seven years.”\n\n\nThird Quarter Fiscal 2024 Financial Highlights\n\n\n\nRevenue: Total revenue was $786.0 million, a 35% increase, compared to $580.9 million in the third quarter of fiscal 2023. Subscription revenue was $733.5 million, a 34% increase, compared to $547.4 million in the third quarter of fiscal 2023.\n\n\n\n\nAnnual Recurring Revenue (ARR) increased 35% year-over-year and grew to $3.15 billion as of October 31, 2023, of which $223.1 million was net new ARR added in the quarter.\n\n\n\n\nSubscription Gross Margin: GAAP subscription gross margin was 78%, compared to 75% in the third quarter of fiscal 2023. Non-GAAP subscription...