Slide 1: Financial Results Q1 FY 2025
Financial Results Q1 FY 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 Q1 At-a-Glance: Platform Driving Record Results
CrowdStrike Q1 At-a-Glance: Platform Driving Record Results Ending ARR Net New ARR Record Q1 Net New ARR $3.65B $212M +33% YoY +22% YoY Operating Margin Diluted EPS 22% $0.93 Strong Operating +5 percentage points YoY +63% YoY Leverage & Record Free Cash Flow Margin & Rule of 40 Free Cash Flow Free C
Slide 5: Market Opportunity & Leadership
Market Opportunity & Leadership ® CrowdStrike, Inc. All rights reserved.
Slide 6: 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 7: CY24 TAM $100B: The AI-Native Security Platform
$100B CY24 TAM Endpoint Security Security $19B & IT Ops The AI-Native $18B Security Platform Managed Services $17B Observability $12B CY25 TAM Cloud Security Identity $12B Protection Threat $9B Intelligence Data $6B Protection $4B Cybersecurity Generative AI $3B ©2023 CrowdStrike, Inc. All rights re
Slide 8: CY24 $100B to CY28 $225B TAM
$225B CY28 TAM $100B The AI-Native CY24 TAM Security Platform The AI-Native Security Platform ©2023 CrowdStrike, Inc. All rights reserved. Source: company estimate.
Slide 9: The Falcon Platform: Driving Consolidation
The Falcon Platform: Driving Consolidation Our Single Platform Displaces Point Products and Lowers TCO
Slide 10: Platform Adoption
Platform Adoption ® CrowdStrike, Inc. All rights reserved.
Slide 11: Customers are Embracing the Falcon Platform
Customers are Embracing the Falcon Platform Deals with 8 or More Modules Grew 95% YoY 65% 44% 28% Customers Adopted Customers Adopted Customers Adopted 5 or More Modules 6 or More Modules 7 or More Modules Percent of Subscription Customers with Multiple Cloud Module Subscriptions. All figures are as
Slide 12: Financial Overview
Financial Overview ® CrowdStrike, Inc. All rights reserved.
Slide 13: Growth at Scale
Growth at Scale 33% YoY Growth 22% YoY Growth Ending ARR Net New ARR Starting ARR Net New ARR In $ Millions In $ Millions $3,647 $2,734 $212 $174 1Q24 1Q25 1Q24 1Q25 34% YoY Growth 33% YoY Growth Subscription Revenue Total Revenue Subscription Professional Services In $ Millions In $ Millions $921 $
Slide 14: Non-GAAP Profit & Free Cash Flow
Non-GAAP Profit & Free Cash Flow 34% YoY Growth 72% YoY Growth Subscription Gross Profit Operating Income In $ Millions In $ Millions $701 $199 $522 $116 1Q24 1Q25 1Q24 1Q25 % margin 80% 80% % margin 17% 22% 63% YoY Growth 42% YoY Growth Diluted Earnings Per Share Free Cash Flow In $ Millions $0.93
Slide 15: Key Takeaways
Key Takeaways Strong Financial $3.65B $212M Record subscription gross margin, >80% Record free cash flow, 35% of revenue 1 Ending ARR Net New ARR Performance +33% Y/Y +22% Y/Y Delivered significant YoY operating leverage Fifth consecutive quarter of GAAP profitability Landing with Cloud security Dri
Slide 16: Guidance
Q2 FY2025 Full Year FY2025 Revenue $958.3 - $961.2M $3,976.3 - $4,010.7M Non-GAAP Income from Operations $208.3 - $210.5M $890.1 - $916.5M Guidance Non-GAAP Net Income $245.7 - $247.8M $985.6 - $1,012.0M Non-GAAP Net Income per share $0.98 - $0.99 $3.93 - $4.03 Weighted Average Shares 250M 251M Crow
Slide 17: Modeling Points
Modeling Points Our net new ARR year-over-year growth assumptions for the second quarter of the fiscal ARR year are at least double-digits, up to the low teens. We are maintaining our free cash flow margin target of 31 to 33 percent of revenue for Free Cash Flow Margin the full fiscal year 2025 and
Slide 18: 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 19: Appendix
Appendix ® CrowdStrike, Inc. All rights reserved.
Slide 20: 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 21: Appendix (cont'd): TAM data sources
Appendix (cont’d) Reports used for data shown in the chart titled “CY24 TAM | The AI-Native Security Platform”: CY24 TAM: IDC Worldwide and U.S. Comprehensive Security Services Forecast, 2023–2027. (June 2023) IDC Worldwide IT Operations Management Software Forecast, 2022–2026. (August 2022) I
Slide 22: Appendix (cont'd): 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 23: GAAP Income Statement
GAAP INCOME STATEMENT CROWDSTRIKE HOLDINGS, INC. Condensed Consolidated Statements of Operations (in thousands) (unaudited) Q1 FY24 Q1 FY25 Revenue Subscription $ 651,175 $ 872,172 Professional services 41,405 48,864 Total revenue 692,580 921,036 Cost of revenue Subscription 142,100 189,657 Professi
Slide 24: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation CROWDSTRIKE HOLDINGS, INC. Statements of Operations: GAAP to Non-GAAP Reconciliations (in thousands) (unaudited) Q1 FY24 Q1 FY25 GAAP subscription gross profit $ 509,075 $ 682,515 Stock based compensation expense 8,966 13,916 Amortization of acquired intangible assets
Slide 25: GAAP to Non-GAAP Reconciliation (Cont'd)
GAAP to Non-GAAP Reconciliation (Cont'd) CROWDSTRIKE HOLDINGS, INC. Statements of Operations: GAAP to Non-GAAP Reconciliations (continued) (in thousands, except per share data) (unaudited) Q1 FY24 Q1 FY25 GAAP net income attributable to CrowdStrike $ 491 $ 42,820 Stock based compensation expense 130
Slide 26: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation CROWDSTRIKE HOLDINGS, INC. Free cash flow reconciliation (In thousands) (unaudited) Q1 FY24 Q1 FY25 Free cash flow reconciliation GAAP net cash provided by operating activities $ 300,892 $ 383,228 Purchases of property and equipment (62,264) (49,683) Capitalized interna
Slide 27: Supplemental Disclosure - Additional Metrics
Supplemental Disclosure - Additional Metrics CROWDSTRIKE HOLDINGS, INC. Additional Metrics (In thousands, except percentages and remaining performance obligations) (unaudited) Q1FY24 Q1FY25 Annual recurring revenue $ 2,733,931 $ 3,646,881 Year-over-year growth 42% 33% Remaining performance obligatio