Summary
CrowdStrike Holdings, Inc. reported strong revenue growth for the first quarter of fiscal year 2022, with total revenue increasing by 70% year-over-year to $302.8 million. This growth was primarily driven by a significant increase in subscription revenue, which rose by 73% to $281.2 million, reflecting an 82% year-over-year increase in subscription customers to 11,420. The company also saw a substantial increase in its Annual Recurring Revenue (ARR), which grew by 74% to $1.2 billion. Despite the impressive top-line growth, CrowdStrike continued to report an operating loss, widening from $22.6 million in the prior year period to $31.3 million. This was largely due to increased investments in sales and marketing, and research and development, which grew by 53% and 93% respectively. The company also incurred a significant income tax expense related to an intercompany sale of intellectual property, contributing to a net loss of $82.9 million. However, the company's cash flow from operations remained strong, increasing by 50% to $147.5 million, and free cash flow also saw a healthy increase to $117.3 million. The company also completed a significant acquisition of Humio Limited for $369.9 million, which is expected to enhance its cloud log management and observability capabilities, contributing to substantial goodwill and intangible assets on the balance sheet.
Financial Highlights
51 data points| Revenue | $302.84M |
| Cost of Revenue | $78.50M |
| Gross Profit | $224.34M |
| R&D Expenses | $78.18M |
| Operating Expenses | $255.69M |
| Operating Income | -$31.35M |
| Interest Expense | $6.23M |
| Net Income | -$85.05M |
| EPS (Basic) | $-0.38 |
| EPS (Diluted) | $-0.38 |
| Shares Outstanding (Basic) | 224.15M |
| Shares Outstanding (Diluted) | 224.15M |
Key Highlights
- 1Total revenue increased 70% year-over-year to $302.8 million, driven by strong subscription revenue growth.
- 2Subscription revenue grew 73% year-over-year to $281.2 million.
- 3Annual Recurring Revenue (ARR) reached $1.2 billion, a 74% increase year-over-year.
- 4The company added 1,524 net new subscription customers in the quarter, reaching a total of 11,420, an 82% year-over-year increase.
- 5Operating expenses increased significantly, leading to a wider operating loss of $31.3 million, compared to $22.6 million in the prior year period.
- 6Net loss widened to $82.9 million, impacted by increased operating expenses and a significant income tax expense.
- 7Net cash provided by operating activities increased by 50% to $147.5 million, and free cash flow was $117.3 million.
- 8CrowdStrike completed the acquisition of Humio Limited for $369.9 million, adding goodwill and intangible assets.