CrowdStrike Reports Fourth Quarter and Fiscal Year 2020 Financial Results
Achieves $600 million in ARR
Delivers positive cash flow from operations and free cash flow for the quarter and year
SUNNYVALE, Calif.--(BUSINESS WIRE)-- CrowdStrike Holdings, Inc., (Nasdaq: CRWD), a leader in cloud-delivered endpoint protection, today announced financial results for the fourth quarter and fiscal year 2020 ended January 31, 2020. “CrowdStrike delivered a record-setting fourth quarter to conclude an exceptional fiscal year. With ARR reaching $600 million, we continued to see broad strength in multiple areas of the business during the quarter, including 90% year-over-year subscription revenue growth, record net new ARR and an acceleration in net new customers. Throughout this past year, we continued to execute on the increasing demand we see in the market and the Security Cloud vision we pioneered. Looking into fiscal 2021 and beyond, the powerful combination of our cloud-native platform and frictionless go-to-market positions us well as the fundamental endpoint platform for the future,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer. Commenting on the company's financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “Fourth quarter results well exceeded our expectations. Our continued robust growth along with our relentless focus on execution and strong unit economics drove improved operating leverage, positive cash flow from operations and positive free cash flow for the quarter and year.” Fourth Quarter Fiscal 2020 Financial Highlights- Revenue: Total revenue was $152.1 million, an 89% increase, compared to $80.5 million in the fourth quarter of fiscal 2019. Subscription revenue was $138.5 million, a 90% increase, compared to $72.8 million in the fourth quarter of fiscal 2019.
- Annual Recurring Revenue (ARR) increased 92% year-over-year and grew to $600.5 million as of January 31, 2020, of which $98.7 million was net new ARR added in the quarter.
- Subscription Gross Margin: GAAP subscription gross margin was 75%, compared to 70% in the fourth quarter of fiscal 2019. Non-GAAP subscription gross margin was 77%, compared to 70% in the fourth quarter of fiscal 2019.
- Loss from Operations: GAAP loss from operations was $31.1 million, compared to $31.2 million in the fourth quarter of fiscal 2019. Non-GAAP loss from operations was $6.7 million, compared to $28.0 million in the fourth quarter of fiscal 2019.
- Net Loss: GAAP net loss was $28.4 million, compared to $31.3 million in the fourth quarter of fiscal 2019. GAAP net loss per share was $0.14, compared to $0.67 in the fourth quarter of fiscal 2019. Non-GAAP net loss was $3.9 million, or $0.02 on a per share basis, compared to a loss of $28.0 million, or $0.60 on a per share basis, in the fourth quarter of fiscal 2019.
- Cash Flow: Net cash generated from operations was $66.1 million, compared to $15.8 million in the fourth quarter of fiscal 2019. Free cash flow was positive $50.7 million, compared to negative $0.1 million in the fourth quarter of fiscal 2019.
- Cash, cash equivalents and marketable securities increased to $912.1 million as of January 31, 2020.
- Revenue: Total revenue was $481.4 million, a 93% increase, compared to $249.8 million in fiscal 2019. Subscription revenue was $436.3 million, a 99% increase, compared to $219.4 million in fiscal 2019.
- Subscription Gross Margin: GAAP subscription gross margin was 74%, compared to 68% in fiscal 2019. Non-GAAP subscription gross margin was 75%, compared to 69% in fiscal 2019.
- Loss from Operations: GAAP loss from operations was $146.1 million, compared to $136.9 million in fiscal 2019. Non-GAAP loss from operations was $65.6 million, compared to $115.8 million in fiscal 2019.
- Net Loss: GAAP net loss was $141.8 million, compared to $140.1 million in fiscal 2019. GAAP net loss per share was $0.96, compared to $3.12 in fiscal 2019. Non-GAAP net loss was $62.6 million, compared to $119.0 million in fiscal 2019. Non-GAAP net loss per share was $0.42, compared to $2.65 in fiscal 2019.
- Cash Flow: Net cash generated from operations was $99.9 million, compared to a use of $23.0 million in fiscal 2019. Free cash flow was positive $12.5 million, compared to negative $65.6 million in fiscal 2019.
- Added a record 870 net new subscription customers in the quarter for a total of 5,431 subscription customers as of January 31, 2020, representing 116% growth year-over-year.
- CrowdStrike’s subscription customers that have adopted five or more cloud modules increased to 33% as of January 31, 2020.
- Launched CrowdStrike Falcon Spotlight™ App for Security Operations, which integrates real-time endpoint vulnerability data and patch validation with prioritization and response workflows provided by ServiceNow and is available in the ServiceNow Store.
- Announced extending the capabilities of the CrowdStrike Falcon® platform's award-winning endpoint protection and endpoint detection and response (EDR) to provide visibility specific to workloads hosted on Google Cloud Platform (GCP) and Microsoft Azure and to provide EDR and run-time protection for containers. Falcon will now provide comprehensive visibility into all three leading public clouds.
- Introduced Endpoint Recovery Services to accelerate incident response and remediation. This new offering combines the power of the CrowdStrike Falcon platform, threat intelligence, and real-time response to accelerate business recovery from cyber intrusions.
- Promoted Michael Sentonas to chief technology officer. Sentonas joined CrowdStrike in 2016 and most recently served as the company's vice president of technology strategy.
Q1 FY21 Guidance |
Full Year FY21 Guidance | |||
Total revenue |
$164.3 - $167.6 million |
$723.3 - $733.5 million | ||
Non-GAAP loss from operations |
$(16.2) - $(13.9) million |
$(37.1) - $(29.9) million | ||
Non-GAAP net loss |
$(14.0) - $(11.7) million |
$(29.3) - $(22.1) million | ||
Non-GAAP net loss per share, basic and diluted |
$(0.07) - $(0.06) |
$(0.14) - $(0.10) | ||
Weighted average shares used in computing non-GAAP net loss per share attributable to common stockholders, basic and diluted |
211.3 million |
212.5 million |
Date: |
March 19, 2020 | |
Time: |
2:00 p.m. Pacific time / 5:00 p.m. Eastern time | |
Dial-in number: |
409-937-8967, conference ID: 5282383 | |
Webcast: |
CROWDSTRIKE HOLDINGS, INC. | ||||||||||||||||
Condensed Consolidated Statements of Operations | ||||||||||||||||
(in thousands, except per share amounts) | ||||||||||||||||
(unaudited) | ||||||||||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
Revenue | ||||||||||||||||
Subscription |
$ |
138,537 |
$ |
72,831 |
$ |
436,323 |
$ |
219,401 | ||||||||
Professional services |
13,572 |
7,624 |
45,090 |
30,423 | ||||||||||||
Total revenue |
152,109 |
80,455 |
481,413 |
249,824 | ||||||||||||
Cost of revenue | ||||||||||||||||
Subscription(1)(2) |
34,616 |
22,131 |
112,474 |
69,208 | ||||||||||||
Professional services(1) |
8,801 |
4,864 |
29,153 |
18,030 | ||||||||||||
Total cost of revenue |
43,417 |
26,995 |
141,627 |
87,238 | ||||||||||||
Gross profit |
108,692 |
53,460 |
339,786 |
162,586 | ||||||||||||
Operating expenses | ||||||||||||||||
Sales and marketing(1)(2) |
75,803 |
49,338 |
266,595 |
172,682 | ||||||||||||
Research and development(1)(2) |
38,691 |
22,005 |
130,188 |
84,551 | ||||||||||||
General and administrative(1) |
25,331 |
13,349 |
89,068 |
42,217 | ||||||||||||
Total operating expenses |
139,825 |
84,692 |
485,851 |
299,450 | ||||||||||||
Loss from operations |
(31,133 |
) |
(31,232 |
) |
(146,065 |
) |
(136,864 |
) | ||||||||
Interest expense |
(145 |
) |
— |
(442 |
) |
(428 |
) | |||||||||
Other income (expense), net |
3,203 |
321 |
6,725 |
(1,418 |
) | |||||||||||
Loss before provision for income taxes |
(28,075 |
) |
(30,911 |
) |
(139,782 |
) |
(138,710 |
) | ||||||||
Provision for income taxes |
(333 |
) |
(349 |
) |
(1,997 |
) |
(1,367 |
) | ||||||||
Net loss |
(28,408 |
) |
(31,260 |
) |
(141,779 |
) |
(140,077 |
) | ||||||||
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted |
$ |
(0.14 |
) |
$ |
(0.67 |
) |
$ |
(0.96 |
) |
$ |
(3.12 |
) | ||||
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted |
207,565 |
46,416 |
148,062 |
44,863 | ||||||||||||
______________________________ | ||||||||||||||||
(1) Includes stock-based compensation expense as follows: | ||||||||||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
(in thousands) | (in thousands) | |||||||||||||||
Subscription cost of revenue |
$ |
2,062 |
$ |
156 |
$ |
5,226 |
$ |
689 | ||||||||
Professional services cost of revenue |
955 |
49 |
2,486 |
205 | ||||||||||||
Sales and marketing |
8,408 |
1,234 |
23,919 |
5,175 | ||||||||||||
Research and development |
5,050 |
583 |
15,403 |
7,815 | ||||||||||||
General and administrative |
7,888 |
1,080 |
32,906 |
6,621 | ||||||||||||
Total stock-based compensation expense |
$ |
24,363 |
$ |
3,102 |
$ |
79,940 |
$ |
20,505 | ||||||||
(2) Includes amortization of acquired intangible assets as follows: | ||||||||||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
(in thousands) | (in thousands) | |||||||||||||||
Subscription cost of revenue |
$ |
61 |
$ |
105 |
$ |
323 |
$ |
327 | ||||||||
Sales and marketing |
31 |
32 |
123 |
143 | ||||||||||||
Research and development |
10 |
11 |
41 |
113 | ||||||||||||
Total amortization of acquired intangible assets |
$ |
102 |
$ |
148 |
$ |
487 |
$ |
583 |
CROWDSTRIKE HOLDINGS, INC. | ||||||||
Condensed Consolidated Balance Sheets | ||||||||
(in thousands) | ||||||||
(unaudited) | ||||||||
January 31, | ||||||||
2020 |
2019 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents |
$ |
264,798 |
$ |
88,408 | ||||
Marketable securities |
647,266 |
103,247 | ||||||
Accounts receivable, net |
164,987 |
92,476 | ||||||
Deferred contract acquisition costs, current |
42,971 |
28,847 | ||||||
Prepaid expenses and other current assets |
51,614 |
18,410 | ||||||
Total current assets |
1,171,636 |
331,388 | ||||||
Strategic investments |
1,000 |
— | ||||||
Property and equipment, net |
136,078 |
73,735 | ||||||
Deferred contract acquisition costs, noncurrent |
71,235 |
9,918 | ||||||
Goodwill |
7,722 |
7,947 | ||||||
Intangible assets, net |
527 |
1,048 | ||||||
Other assets |
16,708 |
9,183 | ||||||
Total assets |
$ |
1,404,906 |
$ |
433,219 | ||||
Liabilities, Redeemable Convertible Preferred Stock, and Stockholders’ Equity (Deficit) | ||||||||
Current liabilities: | ||||||||
Accounts payable |
$ |
1,345 |
$ |
6,855 | ||||
Accrued expenses |
30,355 |
32,541 | ||||||
Accrued payroll and benefits |
36,810 |
19,284 | ||||||
Deferred revenue |
412,985 |
218,700 | ||||||
Other current liabilities |
11,601 |
4,040 | ||||||
Total current liabilities |
493,096 |
281,420 | ||||||
Deferred revenue, noncurrent |
158,183 |
71,367 | ||||||
Other liabilities, noncurrent |
11,020 |
10,313 | ||||||
Total liabilities |
662,299 |
363,100 | ||||||
Commitments and contingencies | ||||||||
Redeemable Convertible Preferred Stock | ||||||||
Redeemable convertible preferred stock |
— |
557,912 | ||||||
Stockholders’ Equity (Deficit) | ||||||||
Preferred stock |
— |
— | ||||||
Common stock |
— |
24 | ||||||
Common stock, Class A and Class B |
106 |
— | ||||||
Additional paid-in capital |
1,378,479 |
31,211 | ||||||
Accumulated deficit |
(637,487 |
) |
(519,126 |
) | ||||
Accumulated other comprehensive income |
1,009 |
98 | ||||||
Total CrowdStrike Holdings, Inc. stockholders’ equity (deficit) |
742,107 |
(487,793 |
) | |||||
Non-controlling interest |
500 |
— | ||||||
Total stockholders’ equity (deficit) |
742,607 |
(487,793 |
) | |||||
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) |
$ |
1,404,906 |
$ |
433,219 |
CROWDSTRIKE HOLDINGS, INC. | ||||||||
Condensed Consolidated Statements of Cash Flows | ||||||||
(in thousands) | ||||||||
(unaudited) | ||||||||
Year Ended January 31, | ||||||||
2020 |
2019 | |||||||
Operating activities | ||||||||
Net loss |
$ |
(141,779 |
) |
$ |
(140,077 |
) | ||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||
Depreciation and amortization |
23,026 |
14,815 | ||||||
Loss on disposal of fixed assets |
— |
191 | ||||||
Amortization of intangible assets |
487 |
583 | ||||||
Amortization of deferred contract acquisition costs |
35,459 |
28,642 | ||||||
Change in fair value of redeemable convertible preferred stock warrant liability |
6,022 |
3,576 | ||||||
Provision for bad debts |
556 |
551 | ||||||
Stock-based compensation expense |
79,940 |
20,505 | ||||||
Accretion of marketable securities purchased at a discount |
(1,247 |
) |
(1,152 |
) | ||||
Non-cash interest expense |
435 |
98 | ||||||
Other non-cash charges |
(427 |
) |
— | |||||
Changes in operating assets and liabilities, net of business combinations | ||||||||
Accounts receivable |
(73,067 |
) |
(33,413 |
) | ||||
Deferred contract acquisition costs |
(86,594 |
) |
(45,073 |
) | ||||
Prepaid expenses and other assets |
(43,467 |
) |
(5,819 |
) | ||||
Accounts payable |
(6,570 |
) |
(2,403 |
) | ||||
Accrued expenses and other current liabilities |
9,173 |
3,564 | ||||||
Accrued payroll and benefits |
17,526 |
971 | ||||||
Deferred revenue |
280,768 |
131,117 | ||||||
Other liabilities, noncurrent |
(298 |
) |
356 | |||||
Net cash provided by (used in) operating activities |
99,943 |
(22,968 |
) | |||||
Investing activities | ||||||||
Purchases of property and equipment |
(80,198 |
) |
(35,851 |
) | ||||
Capitalized internal-use software |
(7,289 |
) |
(6,794 |
) | ||||
Purchase of strategic investments |
(1,000 |
) |
— | |||||
Purchases of marketable securities |
(779,701 |
) |
(199,335 |
) | ||||
Proceeds from sales of marketable securities |
9,581 |
— | ||||||
Maturities of marketable securities |
228,976 |
99,950 | ||||||
Net cash used in investing activities |
(629,631 |
) |
(142,030 |
) | ||||
Financing activities | ||||||||
Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts |
665,092 |
— | ||||||
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs |
— |
206,896 | ||||||
Repayment of loan payable |
— |
(6,158 |
) | |||||
Proceeds from revolving line of credit |
— |
10,000 | ||||||
Repayment of revolving line of credit |
— |
(20,000 |
) | |||||
Repayment of notes receivable from related parties |
— |
198 | ||||||
Payments of contingent consideration |
— |
(242 |
) | |||||
Payments of indemnity holdback |
— |
(1,887 |
) | |||||
Repurchase of stock options |
— |
(2,330 |
) | |||||
Payments of deferred offering costs |
(5,872 |
) |
— | |||||
Proceeds from issuance of common stock upon exercise of stock options |
21,512 |
3,912 | ||||||
Proceeds from the issuance of common stock upon exercise of early exercisable stock options |
10,264 |
— | ||||||
Proceeds from issuance of common stock under the employee stock purchase plan |
12,365 |
— | ||||||
Settlement related to stockholder short-swing trade profit |
2,283 |
— | ||||||
Capital contributions from non-controlling interest holders |
500 |
— | ||||||
Net cash provided by financing activities |
706,144 |
190,389 | ||||||
Effect of foreign exchange rates on cash and cash equivalents |
(66 |
) |
(162 |
) | ||||
Net increase in cash and cash equivalents |
176,390 |
25,229 | ||||||
Cash and cash equivalents, beginning of period |
88,408 |
63,179 | ||||||
Cash and cash equivalents, end of period |
$ |
264,798 |
$ |
88,408 |
CROWDSTRIKE HOLDINGS, INC. | ||||||||||||||||
Non-GAAP Financial Measures with Reconciliation to GAAP | ||||||||||||||||
(in thousands, except percentages) | ||||||||||||||||
(unaudited) | ||||||||||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
GAAP subscription revenue |
$ |
138,537 |
$ |
72,831 |
$ |
436,323 |
$ |
219,401 | ||||||||
GAAP subscription gross profit |
$ |
103,921 |
$ |
50,700 |
$ |
323,849 |
$ |
150,193 | ||||||||
Add: Stock-based compensation expense |
2,062 |
156 |
5,226 |
689 | ||||||||||||
Add: Amortization of acquired intangible assets |
61 |
105 |
323 |
327 | ||||||||||||
Non-GAAP subscription gross profit |
$ |
106,044 |
$ |
50,961 |
$ |
329,398 |
$ |
151,209 | ||||||||
GAAP subscription gross margin |
75 |
% |
70 |
% |
74 |
% |
68 |
% | ||||||||
Non-GAAP subscription gross margin |
77 |
% |
70 |
% |
75 |
% |
69 |
% | ||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
GAAP total revenue |
$ |
152,109 |
$ |
80,455 |
$ |
481,413 |
$ |
249,824 | ||||||||
GAAP loss from operations |
$ |
(31,133 |
) |
$ |
(31,232 |
) |
$ |
(146,065 |
) |
$ |
(136,864 |
) | ||||
Add: Stock-based compensation expense |
24,363 |
3,102 |
79,940 |
20,505 | ||||||||||||
Add: Amortization of acquired intangible assets |
102 |
148 |
487 |
583 | ||||||||||||
Non-GAAP loss from operations |
$ |
(6,668 |
) |
$ |
(27,982 |
) |
$ |
(65,638 |
) |
$ |
(115,776 |
) | ||||
GAAP operating margin |
(20 |
)% |
(39 |
)% |
(30 |
)% |
(55 |
)% | ||||||||
Non-GAAP operating margin |
(4 |
)% |
(35 |
)% |
(14 |
)% |
(46 |
)% | ||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
GAAP net loss |
$ |
(28,408 |
) |
$ |
(31,260 |
) |
$ |
(141,779 |
) |
$ |
(140,077 |
) | ||||
Add: Stock-based compensation expense |
$ |
24,363 |
$ |
3,102 |
$ |
79,940 |
$ |
20,505 | ||||||||
Add: Amortization of acquired intangible assets |
102 |
148 |
487 |
583 | ||||||||||||
Less: Gain on settlement of lawsuit |
— |
— |
(1,250 |
) |
— | |||||||||||
Non-GAAP net loss |
$ |
(3,943 |
) |
$ |
(28,010 |
) |
$ |
(62,602 |
) |
$ |
(118,989 |
) | ||||
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted |
207,565 |
46,416 |
148,062 |
44,863 | ||||||||||||
GAAP net loss per share attributable to Class A and Class B common stockholders, basic and diluted |
$ |
(0.14 |
) |
$ |
(0.67 |
) |
$ |
(0.96 |
) |
$ |
(3.12 |
) | ||||
Non- GAAP net loss per share attributable to Class A and Class B common stockholders, basic and diluted |
$ |
(0.02 |
) |
$ |
(0.60 |
) |
$ |
(0.42 |
) |
$ |
(2.65 |
) | ||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
GAAP total revenue |
$ |
152,109 |
$ |
80,455 |
$ |
481,413 |
$ |
249,824 | ||||||||
GAAP net cash provided by (used in) operating activities |
66,107 |
15,808 |
99,943 |
(22,968 |
) | |||||||||||
Less: Purchases of property and equipment |
(13,350 |
) |
(14,187 |
) |
(80,198 |
) |
(35,851 |
) | ||||||||
Less: Capitalized internal-use software |
(2,081 |
) |
(1,752 |
) |
(7,289 |
) |
(6,794 |
) | ||||||||
Free cash flow |
$ |
50,676 |
$ |
(131 |
) |
$ |
12,456 |
$ |
(65,613 |
) | ||||||
GAAP net cash used in investing activities |
$ |
(572,115 |
) |
$ |
(10,671 |
) |
$ |
(629,631 |
) |
$ |
(142,030 |
) | ||||
GAAP net cash provided by (used in) financing activities |
$ |
27,310 |
$ |
(325 |
) |
$ |
706,144 |
$ |
190,389 | |||||||
GAAP net cash provided by (used in) operating activities as a percentage of revenue |
43 |
% |
20 |
% |
21 |
% |
(9 |
)% | ||||||||
Less: Purchases of property and equipment as a percentage of revenue |
(9 |
)% |
(18 |
)% |
(17 |
)% |
(14 |
)% | ||||||||
Less: Capitalized internal-use software as a percentage of revenue |
(1 |
)% |
(2 |
)% |
(2 |
)% |
(3 |
)% | ||||||||
Free cash flow margin |
33 |
% |
— |
% |
3 |
% |
(26 |
)% |
CROWDSTRIKE HOLDINGS, INC. | ||||||||||||||||
Statements of Operations: GAAP to Non-GAAP Reconciliations | ||||||||||||||||
(in thousands) | ||||||||||||||||
(unaudited) | ||||||||||||||||
Three Months Ended January 31, | Year Ended January 31, | |||||||||||||||
2020 |
2019 |
2020 |
2019 | |||||||||||||
GAAP cost of revenue |
$ |
43,417 |
$ |
26,995 |
$ |
141,627 |
$ |
87,238 | ||||||||
Less: | ||||||||||||||||
Stock based compensation expense |
3,017 |
205 |
7,712 |
894 | ||||||||||||
Amortization of acquired intangible assets |
61 |
105 |
323 |
327 | ||||||||||||
Non-GAAP cost of revenue |
$ |
40,339 |
$ |
26,685 |
$ |
133,592 |
$ |
86,017 | ||||||||
GAAP subscription gross profit |
$ |
103,921 |
$ |
50,700 |
$ |
323,849 |
$ |
150,193 | ||||||||
Add: | ||||||||||||||||
Stock based compensation expense |
2,062 |
156 |
5,226 |
689 | ||||||||||||
Amortization of acquired intangible assets |
61 |
105 |
323 |
327 | ||||||||||||
Non-GAAP subscription gross profit |
$ |
106,044 |
$ |
50,961 |
$ |
329,398 |
$ |
151,209 | ||||||||
GAAP professional services gross profit |
$ |
4,771 |
$ |
2,760 |
$ |
15,937 |
$ |
12,393 | ||||||||
Add: | ||||||||||||||||
Stock based compensation expense |
955 |
49 |
2,486 |
205 | ||||||||||||
Non-GAAP professional services gross profit |
$ |
5,726 |
$ |
2,809 |
$ |
18,423 |
$ |
12,598 | ||||||||
GAAP sales and marketing operating expenses |
$ |
75,803 |
$ |
49,338 |
$ |
266,595 |
$ |
172,682 | ||||||||
Less: | ||||||||||||||||
Stock based compensation expense |
8,408 |
1,234 |
23,919 |
5,175 | ||||||||||||
Amortization of acquired intangible assets |
31 |
32 |
123 |
143 | ||||||||||||
Non-GAAP sales and marketing operating expenses |
$ |
67,364 |
$ |
48,072 |
$ |
242,553 |
$ |
167,364 | ||||||||
GAAP research and development operating expenses |
$ |
38,691 |
$ |
22,005 |
$ |
130,188 |
$ |
84,551 | ||||||||
Less: | ||||||||||||||||
Stock based compensation expense |
5,050 |
583 |
15,403 |
7,815 | ||||||||||||
Amortization of acquired intangible assets |
10 |
11 |
41 |
113 | ||||||||||||
Non-GAAP research and development operating expenses |
$ |
33,631 |
$ |
21,411 |
$ |
114,744 |
$ |
76,623 | ||||||||
GAAP general and administrative operating expenses |
$ |
25,331 |
$ |
13,349 |
$ |
89,068 |
$ |
42,217 | ||||||||
Less: | ||||||||||||||||
Stock based compensation expense |
7,888 |
1,080 |
32,906 |
6,621 | ||||||||||||
Non-GAAP general and administrative operating expenses |
$ |
17,443 |
$ |
12,269 |
$ |
56,162 |
$ |
35,596 | ||||||||
GAAP loss from operations |
$ |
(31,133 |
) |
$ |
(31,232 |
) |
$ |
(146,065 |
) |
$ |
(136,864 |
) | ||||
Add: | ||||||||||||||||
Stock based compensation expense |
24,363 |
3,102 |
79,940 |
20,505 | ||||||||||||
Amortization of acquired intangible assets |
102 |
148 |
487 |
583 | ||||||||||||
Non-GAAP loss from operations |
$ |
(6,668 |
) |
$ |
(27,982 |
) |
$ |
(65,638 |
) |
$ |
(115,776 |
) | ||||
GAAP net loss |
$ |
(28,408 |
) |
$ |
(31,260 |
) |
$ |
(141,779 |
) |
$ |
(140,077 |
) | ||||
Add: | ||||||||||||||||
Stock based compensation expense |
24,363 |
3,102 |
79,940 |
20,505 | ||||||||||||
Amortization of acquired intangible assets |
102 |
148 |
487 |
583 | ||||||||||||
Less: | ||||||||||||||||
Gain on settlement of lawsuit |
— |
— |
(1,250 |
) |
— | |||||||||||
Non-GAAP net loss |
$ |
(3,943 |
) |
$ |
(28,010 |
) |
$ |
(62,602 |
) |
$ |
(118,989 |
) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20200319005751/en/
Investor Relations Contact CrowdStrike Holdings, Inc. Maria Riley investors@crowdstrike.com 669-721-0742 Press Contact CrowdStrike Holdings, Inc. Ilina Cashiola ilina.cashiola@crowdstrike.com 202-340-0517 Source: CrowdStrike Holdings, Inc.