Slide 1: Financial Results Q4 FY 2025
Financial Results Q4 FY 2025 As of March 4, 2025 ® CrowdStrike, Inc. All rights reserved.
Slide 2: Safe Harbor
Safe Harbor This presentation includes express and implied “forward-looking statements”, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and in some cases
Slide 3: Financial Information: Use of Non-GAAP Financial Measures
Financial Information Use of Non-GAAP Financial Measures In addition to our results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), we believe non-GAAP measures used in this presentation, such as non-GAAP Gross Margins, non-GAAP Operating Expenses, and Free Cash
Slide 4: CrowdStrike Q4 At-a-Glance
CrowdStrike Q4 At-a-Glance: Ending ARR Net New ARR Delivered Strong Net New ARR $4.24B $224M Q4 Deals >$10M Total Deal Value Q4 Deals >$1M Total Deal Value Record Big Deal Volume 20+ 350+ Operating Margin Diluted EPS $217M $1.03 Increased Operating Profit & EPS Free Cash Flow Free Cash Flow Margin $
Slide 5: FY25 At-a-Glance
FY25 At-a-Glance Achieved Reached Delivered $807M $4.24B $1.07B Net New ARR Ending ARR Free Cash Flow 80% 21% 27% Free Cash Non-GAAP Subscription Gross Margin Non-GAAP Operating Margin Flow Margin 56 Free Cash Flow Rule of 40 All financial figures as of fiscal year ended January 31, 2025. See Append
Slide 6: Market Opportunity & Leadership
Market Opportunity & Leadership ® CrowdStrike, Inc. All rights reserved.
Slide 7: Our AI-Native XDR Platform Creates Opportunity
Our AI-Native XDR Platform Creates Opportunity Lightweight Cloud-First AI-Native Hardware Data Silos Friction ® CrowdStrike, Inc. All rights reserved.
Slide 8: $116B CY25 TAM
Security & IT Ops $20B $116B Managed Services CY25 TAM $20B Endpoint Security The AI-Native $19B Security Platform Cloud Security $17B CY25 TAM Observability Identity $15B Protection Threat $10B Intelligence Data $6B Protection $5B Cybersecurity Generative AI $4B ©2023 CrowdStrike, Inc. All rights r
Slide 9: $116B CY25 TAM to $250B CY29 TAM
$250B $116B CY29 TAM CY25 TAM The AI-Native Security Platform Security & IT Ops The AI-Native $20B Security Platform ged ces 0B Source: company estimate ©2023 CrowdStrike, Inc. All rights reserved. Source: company estimates. See appendix.
Slide 10: The Falcon Platform: Simplifying Cybersecurity
The Falcon Platform: Simplifying Cybersecurity Our Single Platform Consolidates Point Products and Lowers TCO
Slide 11: Industry Recognition
Industry Recognition ® CrowdStrike, Inc. All rights reserved.
Slide 12: Highest Rated Vendor
User Authentication CNAPP SIEM Highest Highest Highest Rated Rated Rated Vendor Vendor Vendor 4.7 (219 Ratings) 4.7 (166 Ratings) 4.7 (171 Ratings) Based on reviews in the past 12 months as of February 28, 2025. User Authentication represents CrowdStrike Falcon Identity Protection Disclaimer: Gartne
Slide 13: Customers' Choice for Managed Detection and Response
Customers’ Choice for Managed Detection and Response • Recognized as Customers’ Choice • Received a 96% Willingness to Recommend score as of September 2024 based on 116 reviews 2024 Gartner Peer Insights Voice of the Customer for Managed Detection and Response (MDR) Gartner, Voice of the Customer fo
Slide 14: Platform Adoption
Platform Adoption ® CrowdStrike, Inc. All rights reserved.
Slide 15: Customers are Embracing the Falcon Platform
Customers are Embracing the Falcon Platform 67% 48% 32% 21% 5+ Modules 6+ Modules 7+ Modules 8+ Modules Module Adoption Rates Percent of Subscription Customers with Multiple Cloud Module Subscriptions. All figures are as of the quarter ended January 31, 2025. Module adoption rates exclude Falcon Go
Slide 16: Driving Rapid Platform Growth
Driving Rapid Platform Growth Cloud Security Identity >$1.3B Security 4Q25 Ending ARR Grew nearly 50% YoY LogScale Next-Gen SIEM All figures are as of Q4 FY25 ® CrowdStrike, Inc. All rights reserved.
Slide 17: Driving Rapid Platform Growth
Driving Rapid Platform Growth Cloud Security >$600M >45% 4Q25 Ending ARR YoY Growth Identity >$370M >20% Security 4Q25 Ending ARR YoY Growth LogScale >$330M >115% Next-Gen SIEM 4Q25 Ending ARR YoY Growth All figures are as of Q4 FY25 ® CrowdStrike, Inc. All rights reserved.
Slide 18: Financial Overview
Financial Overview ® CrowdStrike, Inc. All rights reserved.
Slide 19: Growth at Scale
Growth at Scale Ending ARR Net New ARR Starting ARR Net New ARR In $ Millions $4,242 In $ Millions $3,435 $282 $875 $807 $224 4Q24 4Q25 FY24 FY25 4Q24 4Q25 Subscription Revenue Total Revenue Subscription Professional Services In $ Millions In $ Millions $3,761 $3,954 $1,059 $1,008 $2,871 $845 $3,056
Slide 20: Non-GAAP Profit & Free Cash Flow
Non-GAAP Profit & Free Cash Flow Subscription Gross Profit Operating Income In $ Millions In $ Millions $3,022 $809 $639 $2,299 $838 $213 $217 $660 4Q24 4Q25 FY24 FY25 4Q24 4Q25 FY24 FY25 % margin 80% 80% 80% 80% % margin 25% 21% 22% 21% Diluted Earnings Per Share Free Cash Flow In $ Millions $283 $
Slide 21: Strong Customer Retention & Expansion
Strong Customer Retention & Expansion Dollar-Based Retention Rates for Subscription ARR (1-Year Prior Cohort) 1Q25 2Q25 3Q25 4Q25 119% 118% 115% 112% Net Retention Net Retention Net Retention Net Retention 98% 98% 97% 97% Gross Retention Gross Retention Gross Retention Gross Retention ® CrowdStrike,
Slide 22: Q4 Key Takeaways
Q4 Key Takeaways Subscription revenue >$1B for the first time $4.24B $224M 80% subscription gross margin 1 Q4 Results Ending ARR Net New ARR 97% gross retention +23% YoY $240M free cash flow Driving Platform >$600M >$370M >$330M >$1.3B 2 Adoption Cloud Deployed + Identity Security + LogScale NG SIEM
Slide 23: Guidance
Q1 FY2026 Full Year FY2026 Total revenue $1,100.6 - $1,106.4M $4,743.5 - $4,805.5M Non-GAAP income from operations $173.1 - $180.0M $944.2 - $985.1M Non-GAAP net income attributable to $162.1 - $167.5M $851.2 - $883.0M CrowdStrike Guidance Non-GAAP net income per share attributable to CrowdStrike co
Slide 24: Modeling Points
Modeling Points While we do not guide to net new ARR, our assumptions include a typical Q4 to Q1 seasonal decline of ~21% to 23% ARR Modeling quarter-over-quarter. The net new ARR acceleration we expect in the second half of FY26 sets the foundation for further acceleration in FY27 over FY26 as we s
Slide 25: Target Operating Model
Non-GAAP Measures Target % of Revenue Subscription Gross Margin 82 – 85% S&M 28 – 33% Target R&D 15 – 20% Operating Model G&A 5 – 7% Operating Margin 28 – 32% Free Cash Flow Margin 34 – 38% Note: Targets are on a full year basis. Target ranges assume consistent macroeconomic conditions and do not in
Slide 26: Appendix
Appendix ® CrowdStrike, Inc. All rights reserved.
Slide 27: Appendix: Calculation of metrics
Appendix Calculation of metrics Annual Recurring Revenue (ARR). ARR is calculated as the annualized value of our customer subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms. To the extent that we are negoti
Slide 28: Appendix (cont'd): TAM data sources
Appendix (cont’d) Reports used for data shown in the chart titled “CY25 TAM | The AI-Native Security Platform”: CY25 TAM: IDC Semiannual Security Products Tracker 2023H2 Historical Release. (May 2024) IDC Worldwide Device Vulnerability Management Forecast, 2024–2028: Fusing Multiple Exposure Sou
Slide 29: Explanation of Non-GAAP Financial Measures
Appendix (cont’d) Explanation of Non-GAAP Financial Measures Non-GAAP Subscription Gross Profit and Non-GAAP Subscription Gross Margin We define non-GAAP subscription gross profit and non-GAAP subscription gross margin as GAAP subscription gross profit and GAAP subscription gross margin, respectivel
Slide 30: Changes in Presentation of Non-GAAP Measures
Appendix (cont’d) Changes in Presentation of Non-GAAP Measures Effective in presenting periods starting on and after February 1, 2025, the beginning of CrowdStrike's fiscal year ending January 31, 2026, CrowdStrike will present employer payroll taxes related to employee stock-based award transaction
Slide 31: GAAP Income Statement
GAAP INCOME STATEMENT CROWDSTRIKE HOLDINGS, INC. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Q4 FY24 Q4 FY25 FY24 FY25 Revenue Subscription $ 795,947 $ 1,008,316 $ 2,870,557 $ 3,761,480 Professional services 49,388 50,222 184,998 192,144 Total re
Slide 32: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation CROWDSTRIKE HOLDINGS, INC. Statements of Operations: GAAP to Non-GAAP Reconciliations (in thousands) (unaudited) Q4 FY24 Q4 FY25 FY24 FY25 GAAP subscription gross profit $ 620,438 $ 778,675 $ 2,239,812 $ 2,925,971 Stock based compensation expense 13,311 24,331 43,886
Slide 33: GAAP to Non-GAAP Reconciliation (Cont'd)
CROWDSTRIKE HOLDINGS, INC. GAAP to Non-GAAP Reconciliation (Cont'd) Statements of Operations: GAAP to Non-GAAP Reconciliations (continued) (in thousands, except per share data) (unaudited) Q4 FY24 Q4 FY25 FY24 FY25 GAAP income (loss) from operations $ 29,671 $ (85,301) $ (1,995) $ (120,430) Stock ba
Slide 34: Free Cash Flow Reconciliation
CROWDSTRIKE HOLDINGS, INC. Free Cash Flow Reconciliation Free cash flow reconciliation (In thousands, except percentages) (unaudited) Q4 FY24 Q4 FY25 FY24 FY25 Free cash flow reconciliation GAAP net cash provided by operating activities $ 347,016 $ 345,722 $ 1,166,207 $ 1,381,727 Purchases of proper
Slide 35: Supplemental Disclosure - Additional Metrics
Supplemental Disclosure - Additional Metrics CROWDSTRIKE HOLDINGS, INC. Additional Metrics (In thousands, except percentages and remaining performance obligations) (unaudited) Q4FY24 Q4FY25 Annual recurring revenue $ 3,435,150 $ 4,241,838 Year-over-year growth 34% 23% Remaining performance obligatio