CrowdStrike(CRWD) - 2025 Q1 - Quarterly Results

Financial Performance - Annual Recurring Revenue (ARR) grew 33% year-over-year to $3.65 billion, with net new ARR of $212 million, representing a 22% increase year-over-year[3] - Total revenue for the three months ended April 30, 2024, was $921.0 million, compared to $692.6 million for the same period in 2023, reflecting a significant year-over-year growth[7] - Total revenue for the first quarter of fiscal year 2025 was $921.0 million, a 33% increase compared to $692.6 million in the same period last year[21] - Subscription revenue reached $872.2 million, reflecting a 34% increase from $651.2 million in the first quarter of fiscal 2024[21] - GAAP net income attributable to CrowdStrike was $42.8 million, compared to $0.5 million in the first quarter of fiscal 2024, with diluted GAAP net income per share of $0.17[4] - Non-GAAP net income attributable to CrowdStrike was $231.7 million, up from $136.4 million in the first quarter of fiscal 2024, with diluted non-GAAP net income per share of $0.93[4] - GAAP income from operations was $6.9 million, a significant improvement from a loss of $19.5 million in the first quarter of fiscal 2024[22] - Non-GAAP income from operations was $198.7 million, up from $115.9 million in the same quarter last year[22] - Net income attributable to CrowdStrike was $42.8 million, compared to $491,000 in the first quarter of fiscal 2024[32] - Cash and cash equivalents totaled $3.70 billion as of April 30, 2024[23] Cash Flow and Margins - Record free cash flow of $322 million, representing 35% of revenue, showcasing the company's focus on profitably scaling the business[3] - Free cash flow for Q1 FY2025 was $322.5 million, an increase from $227.4 million in Q1 FY2024, reflecting a 41.8% year-over-year growth[60] - Delivered record operating cash flow of $383 million, compared to $300.9 million in Q1 fiscal 2024[71] - GAAP net cash provided by operating activities for Q1 FY2025 was $383.2 million, up from $300.9 million in Q1 FY2024[60] - Free cash flow margin for Q1 FY2025 was 35%, compared to 33% in Q1 FY2024[60] Expenses and Compensation - Operating expenses increased to $689.1 million, up from $542.8 million in the prior year, driven by higher sales and marketing costs[32] - Total stock-based compensation expense increased to $183.1 million from $130.9 million year-over-year[1] - Research and development operating expenses as a percentage of revenue were 26%, consistent with the previous year[9] - General and administrative operating expenses as a percentage of revenue decreased to 11% from 12% year-over-year[9] Future Guidance - Total revenue guidance for Q2 FY2025 is projected to be between $958.3 million and $961.2 million, with full-year guidance set between $3,976.3 million and $4,010.7 million[45] - Non-GAAP income from operations for Q2 FY2025 is expected to be between $208.3 million and $210.5 million, with full-year guidance between $890.1 million and $916.5 million[45] - Non-GAAP net income attributable to CrowdStrike for Q2 FY2025 is projected to be between $245.7 million and $247.8 million, with full-year guidance between $985.6 million and $1,012.0 million[45] Product Development and Partnerships - The company launched Falcon Next-Gen SIEM, enhancing its capabilities in the cybersecurity market[24] - Announced general availability of Falcon Application Security Posture Management as part of Falcon Cloud Security[73] - Expanded partnership with Amazon Web Services to enhance cybersecurity consolidation[74] - Launched Falcon for Defender to augment Microsoft Defender deployments[74] - Announced strategic collaboration with NVIDIA to deliver AI computing services on the Falcon XDR platform[75] Market Recognition and Adoption - CrowdStrike was recognized as a leader in multiple industry reports, including The Forrester Wave™ and IDC MarketScape for 2024[42] - Module adoption rates were 65% for five or more modules as of April 30, 2024[72] Deferred Revenue - Deferred revenue decreased to $15.0 million from $48.7 million in the previous year, indicating changes in customer contracts[10]