CrowdStrike (CRWD) 5 Mar 242024 Q4 Earnings call transcript

Thank you for standing by, and welcome to CrowdStrike's Fourth Quarter and Fiscal Year 2024 Earnings Conference Call. [Operator Instructions]

I would now like to hand the call over to Maria Riley, Vice President of Investor Relations. Please go ahead.

Good afternoon, and thank you for your participation today. call Co-Founder Kurtz, Podbere, of Officer. the Executive and Chief on and Officer CrowdStrike me are President George Chief Financial With and Burt

we growth, not historical note including those like during Before future conference and facts, I plans, expected our statements objectives, this are certain projections made to that call regarding started, get including that would meaning for forward-looking outlook fiscal Litigation of year any the assumptions and statements Securities the are XXXX that quarter fiscal the first for beyond Reform including XXXX. our periods Private of within and Act performance,

statements as this of our forward-looking These represent outlook of the only date call.

While future because other subject and or time the Factors reports. information make uncertainties. we whether company's information, reasonable, materially the including are statements included and make We the Further in the do events are as statements, to a filings otherwise. could risks not new titled current forward-looking disclaim update believe are to section the statements annual financial time, undertake any is based obligation quarterly we in and alter company's from SEC differ that actual of the results with expressly forward-looking could on our any factors and result results or and to we these Risk on expectations affect

on measures which X-K SEC the will Additionally, at earnings results unless financial our otherwise reconciliation filed GAAP Relations non-GAAP. found a may A the be disclosed call currently of Form or stated, today. be on financial discussion we press is with this all in versus excluding non-GAAP ir.crowdstrike.com and website revenue, schedule on available our why use release, Investor measures non-GAAP showing

over turn I the to that, With now George. will call

thank you, you us for all Maria, joining today. and Thank

and our identity year-over-year. was percentage Record up operating XX% $XXX greater ARR flow points of doubling exceptional acceleration next-gen It delivered cloud quarter record that SIEM of of XX% continuing a free together $XXX Record than records. XX%, GAAP ending new than XX of XX. more free million, margin revenue quarter growing cash and year-over-year. expectations. and flow another reaching year-over-year. Record cash of of net profitability million far Rule Record exceeded ARR our CrowdStrike an fourth trend,

native and customers, and AI we consolidation Falcon These business moat, results technology natural. partners easiest endpoint deploy leadership. protection. illustrate of the receive frictionless ease the cybersecurity that from with consistent: alike CrowdStrike's is weekly. market only eagerness founding Falcon and competitive feedback innovation single fastest and continuous well on cases platform validated vendor in solves platform vision, technology exceptional substantial is my capabilities excitement single-agent widening and makes the delivered instant, acceleration Falcon new deploy Building platform to use our modules CrowdStrike platform, cybersecurity and Falcon to more The from single prospects adopting and is beyond

in the Leaving this, power IDC That technology. total platforms superior every product is of the lifetime between never dollar understand lower showcasing Free free. Falcon stitched of customers difference ROI. benefits recent operating and platform. together cost $X of return CrowdStrike invested point and A TCO. realize the and inferior report point behind, the outcomes pricing for echoes is Customers products

Platform's ROI dynamics. Falcon Given favorable we to the will pricing and see savings, believe we TCO continue

job the our well the by execution team gratitude very our and in on to done. a all with unified focused passion breaches. is best cybersecurity from a performance, My mission: CrowdStrikers stop we thrilled I'm which to testament

cover which more discipline overwhelmingly and in coupled execution market gives strong detail. our me feedback, across momentum, Burt year business fiscal Our positive in the conviction with will XXXX

prior and stable remains quarters. environment macro current consistent The with

sizes growth at to coming operational consolidate excellence of We improve all cybersecurity. while and this focused remain assisting We throughout continued market-leading year. their expect deal delivering on organizations scrutiny scale,

In Threat attacks been Global include: the never has minutes recent attack we more contrast backdrop, than adversaries ever. In harsh XXXX unpacked elevated. to are of macroeconomic to faster took CrowdStrike's has findings today. state only Report, First, Key landscape hours What speeds the threat in realities shrunk the accelerate. the seconds, of cyber will

of the increase adversary under today's dramatically attack. grow puts levels. is force advanced generative the all We Gen AI for The Gen cyberattacks. AI multiplier. attackers population. Second, And cloud is battleground cloud cybercrime cloud craft tracked skill the increasingly trade attempts. an third, in intrusion XX% a in is will adversary hands of AI

threat threat intelligence data of been our signals The AI Global daily accurate day set. showcases prevent our and effective largest data leadership. of threat to upon and training collect the an one models world's company, X, attacks industry's From AI We based creating trillions the most Threat Report cyber fastest-growing moat. we've

models platform virtuous very preventative Embedded cybersecurity's and customers immunity. community and CrowdStrike we intelligence collect best build in cycle the where Falcon generative train robust is a protect data with data, and threat

of team AI continuous predict ahead PhDs data science evolving Falcon's real-time this of process, to stay Our and threats. and constantly foundation activity adversary operate

unique technology incident freshest analysts, threat data response, and our source data science and and structural competitive advantage. corpus access serve the to a expertise human data cyber's ever-growing as engineering at Our alongside together our

regulation their companies today's the by with attacks, pressure top only and In effective increasingly cybersecurity the makes discussions the disclosure is AI, the in boards. latest boards the We regularly Along a and SEC numerous breach of of landscape necessity. the priority environment alongside on bringing with mission-critical severity cybersecurity boardroom. back increases cyber This, boards. cybersecurity with threat to heightened assist room my readiness from regulation

serve in worse, the multi-platform products, create in as their a masquerading thinly said, copycat patchwork market and to Disjointed skyrocketing the vendors OS attempting The instead outcome symptoms sunk deployment feature become addiction cybersecurity. illness. together subpar bundling and cost shelfware ELA products organization frenetic Band-Aid organizations That products position hardware suffering trapped fragmented point vendor that use bazaar. of is fatigue. only market purchasing and monoculture products. is riddled platforms. And customers stitched coax of realize from that piecemeal ones the what costs. Even point risk, leads and a platforms dependence inevitably the these lock-in the their to of curing and vendor difficulties, way point many to cases, today vendors the originator. are breach veiled evangelized bolt-on clutter It's pseudo to cybersecurity as into with is nonintegrated point

and right the single architect purchase how solutions In you stark is because juxtaposition, the native deliver cybersecurity more, right they and more time us understand saves transformation right frictionless when go-to-market, what CrowdStrike receive AI need that customers tell and data-centric the platform, build money. organizations them

validate metrics Our this. deal

closed X,XXX segments. In deals deals year-over-year more across value. XXX $X greater deal than than greater all million $XXX,XXX in deal value more grew in XX% more in deal volumes. QX, $XXX,XXX greater and record Deal value, counts than than deals than First, deal deal than more we than XXX by

or go-to-market the record doubled by and results win with motion. technological X more more AI Deals winning validating board, QX, leadership And win adoption. right platform, saw modules rising steadily the over year-over-year. rates Second, lastly, rising continued solutions the driven frictionless are the platform the In These our our following: across than we rates. competition.

platform one IT use platform. cybersecurity The Let single It our secret an one agent. our ever-expanding set and to cases. platform console and winning with AI solves me has cybersecurity's is leading begin of

single open. platform Our is

and delivering is scalable, data-centric, time immediate value. AI platform to native single Our

which Falcon value consolidation reality. product Key a of wins vendor the proved point replacement the platform, makes and

and our Our next-gen single legacy a security consoles Fortune agents vendor. a company X-figure at Falcon how vendor, XXXX and Falcon. multiple replaced to a a single recent OS scale. vendor AV platform in win highlights eliminated platform Microsoft We agent multiple single of console, consolidates an and

first ASPM Our solution. customers platform approach deploy Falcon CSPM, and CIEM to organically Security as inspires Cloud their

to Fortune Next-Gen biointegrity and displaced win keep X reducing X a X. in EDR, the products and monitoring number is XXX An to of different done where recent approximately Identity, now too platform hundreds installs require breaches using X-figure purchased by devices They tool. What on ineffective vulnerability of cybersecurity AV, agents used costs millions their XX%. with management, the costing business multiyear with them Falcon much

There stories. are countless similar

organic platform use times for approach cases. with tomorrow's reuse at it adopting and landing over makes once capabilities Our easy We data time solutions and today's many experience. once and an multiple increasing collect

Gen predictive on one of skill for levels. platform, It's and accessible makes application one all all and workflow. Our AI integrated cybersecurity agent one

and cloud problems. our the each identity more IPO-able each and roles year-over-year, doubling SIEM are market-leading solutions right are in businesses These demand security, businesses customer solutions lead delivering platform in consolidation. play protection are painful Next, next-gen they solve than collectively Falcon because

cloud are where to solutions at records with new security like I'd and our setting start winning breakout scale. we

one is wave. and in and security momentum security the of nearly $XXX security in positioned With cloud market in million growing largest Our in recently year-over-year leader ARR ARR accelerated the net as ending cloud CrowdStrike, Forrester's cloud new more than a the market was businesses XXX% quarter.

Here cloud is multiyear are endpoint This wins. AI in company's thousands. X-figure footprint the a company. recent win low in few a An security hypergrowth

sales large win However, development From customer Security. CSPM, with with SMB time. to Falcon This LLM Falcon largest Core, enterprises, and and of partners CWP cloud sellers this CIEM, inside protects marks environment. and deal its transaction Security our expanding ASPM. their the all our rapidly uses Cloud Cloud estate, cloud CrowdStrike

but the in we're leading us its large across now capabilities. CrowdStrike leadership not cloud. on clouds. use Linux securing largest parts where world's their takes extends Security, every transaction our This the only Falcon Cloud praising The device, A of X-figure hyperscaler grew into large of deeper account win

required asynchronous replaced consoles overall more its cost patchwork deliver because altogether. large Palo well savings. customer. managing expected a The A and reduction resulted security in is was separate and annual The Palo on Cloud in staffing multiproduct, platform separate global component a with in products security management products platform Alto in as time financial was separate Falcon's visibility cloud Security multi-console deal. XX% to security. as X-figure single alerts management for able CrowdStrike services giant Alto the multi-agent separate platform $X gaps, Prisma agents a Palo an integrated of cloud Cloud than cloud Alto technologies win fatigue their million

agent doesn't realize to CSPM and CWP native protection security identity, It way and cloud Cloud compliance encompassing solution. behavior that holistic cloud flows the now to Customers the taken single CSPM. moved out controlling data and cloud realizing for we securing stop tool. security the a real-time first that suite a cloud. to built only cloud We've stop ASPM the securing to of from for in CSPM beyond beyond locating, itself CIEM runtime that breaches. agentless And breach. to include and CrowdStrike is securing has turn malicious starting are active cloud and protect are threats. reporting security the is Customers increasingly applications,

stood Flow security as to announce of out security. cloud a our intended Turning We're only by amongst industry's focus unique of excited incredibly start-ups acquisition sea security solution. and data date. early delivering to cloud the most the our first Flow runtime technology

companies things: me cloud explain. focus and security classification. and Let discovery data on majority X of The

data solution. policies; motion powered data adaptive Here's leakage visibility, and continuous the and discovery data Flow is into block Simply Gen apart: cloud the decryption, analyzed, exfiltration instant risk, including but through Real enabling with results; only first where time live exposed just runtime LLM post prevention, and is security and stands at and classification. the also Data not data Data services. Runtime pre data put, precise Flow data a industry's in ability AI view to rest,

legacy a overstayed is our legacy where great fever to the data which off accounts. at to products their Similar we'll in with a DLP also enhance products Fortune legacy AV outdated frustration But replacing DLP protection native start, XXX pitch. welcome. of already module, Customer days is

a TAM to cloud-centric data alternative, breaches. from will device code will have next-gen offer currently vendors to to $X shackled legacy in estimated most We CY With market application an Flow, comprehensive by focused a the able billion now to cloud 'XX. addressing ineffective stopping be to on we protection be

modern vectors, net we surpassed a have With nonintegrated, vendors to let's identity attacks customer Other look because at protection doubling of single altogether. new already our cybersecurity year-over-year. also afterthought protection adds. quarter fare standard agent. integrated record which Next, into identity it was made of for involving identity million protection in features is than $XXX offer XX% identity lack simply protection, or QX attempt through identity identity ARR, more

remains credentials only directory. where and protects movement, detection born, response single-agent that the threat module stops identities solution market's actually lateral and are active secures identity Our

quality deal control beyond operations they vendor. many that with were with line X-figure the product Wins being from can the current include quarter of a personally be mega using cruise past their test that tired a with frustrated never were disaster. deployed. fully them, too When Upgrades next-gen slip bed a I a incidents met and and

one, platform in delivered apart. solution Falcon sets agents, the identity two not Our

a An Microsoft Trapped Identity. another in immediate its bring identity Falcon added major a X-figure a This Microsoft this deployment. augment approach saw massive The ELA, Falcon of organization realized to with deploying protection a transaction created to manufacturer identity chip their start-up value piecemeal current agent. to offering. customer unproven large in needed the burden of to

Our single Microsoft dependency. agent and single-platform their approach reduced

log-scale SIEM let's inflecting added platform next-gen in next-gen in Lastly, Falcon We net QX XXX% solution. and ARR new over discuss SIEM growing record year-over-year.

ending the than of well $XXX customers. ARR by end of over greater SIEM is million, As now our QX, next-gen X,XXX selected

leave go-to for legacy quickly as Our Splunk looking to emerging SIEMs. is the next-gen businesses SIEM alternative all

technology, of withering value. better the lower and consolidation in SIEM M&A is to time the for dissatisfaction market, TCO slew Following and instant a hungry SIEMs, market mounting with legacy

searching, next-gen of and are data manually large-scale SIEM. or automated there's in on resident, data, Customers actioning CrowdStrike they're to SIEM, cloud-native next-gen overwhelming scale their manage standardize for already of data the where Falcon all using experience. centric pipeline looking hundreds time next-gen is interest the With data already In AI-powered their transfer. to right the platform millions, trusting expense saving in SIEM partners LogScale queries

Falcon Azure's now One beating SIEM which large a Splunk customer deployed. LogScale Deloitte, practice. modules quarter of a XX from next-gen with has This has in a SIEM and closed X-figure deal manufacturer hypergrowth Elastic wins was platform next-gen we with many European multiyear Together, noteworthy displacing and out partnership Sentinel. the

an Alto A agents Palo versus vendor many multiple standardized LogScale approach architecture competed deal locked-in next-gen replacing of X-figure against major and deploy cybersecurity. legacy customer a to choice. multiyear SIEM. a The computing mobile on in Palo looking was easier XSIAM. having made company even to We closed The an different SIEM CrowdStrike Alto's open complexity products for

a hospitality partnership use and more data their Azure In that Splunk XXX in benefiting grew their Fortune from security Sentinel than bringing customer its X-figure with and relationship SIEM a Lastly, practice, and for SIEM with E&Y IT data before, next-gen grew and by LogScale in brand years faster displacing again, us, deal. global retaining this cases searches.

was SIEM Azure of faster Sentinel a total cost drive next-gen which LogScale operation, win. lower than with helped substantially significantly this

SIEM with sizes. illustrate SIEM wins our growing confidently LogScale of sticky gravity say fastest-growing today. all can businesses solutions one Our of market and next-gen next-gen SIEM is on data the I the LogScale the

that pace generally Our are We're of been IT Falcon never AI innovation faster. for has Charlotte incredibly excited to available. announce and

As our to increasingly excitement IT palpable. is IT complex heterogeneous solve challenges across their for customers Falcon look environments

also each they from XX% about will days our are over hours AI, the productivity save gains Charlotte customers believe using AI work of Our of where gen Charlotte week beta users AI. to excited

to never believer Falcon, scale a the and to and we flexible third when helping don't be announced want FalconFlex, buy of big customer at enable FalconFlex I'm a customers The forced final land over CrowdStrike's of a need expand products faster. frictionless platform we driver should more licensing they so. do Falcon don't with what and drives want growth the is go-to-market. that term. where At adopting they multiyear customers they customers us course solutions subscription enabling stickiness, use model our larger

that XXX choice. partner go legacy make FalconFlex leveraged products displacing in cloud noteworthy products, deal recent right solutions Falcon, hygiene with all consolidating with and was The and FalconFlex platform products. go-to-market transaction ecosystem's company a dollar legacy Fortune a leading point technology multimillion and a DLP A to IT

the is we've with last in Dell their service total customers $XX early deal Since transacted Some geography. Dell and where every with Dell. more million the than as We're going, standardize in partnership as together and we I'm new accelerating they our announcing thrilled include: partnership of innings this with that value highlights own segment such Falcon. on year, of momentum momentum partnership with have MDR offerings

fueled right not best growing tens power of to the part platform, still Falcon cybersecurity. is and MSSPs strategy partners. want but increasingly time industry's SMBs need are business MSSP bringing the the year-over-year, Our triple MSSPs by who digits the of transformation. thousands by staff cybersecurity and platform, lack of the technology, the of to outcome

Marketplace fastest-growing continues and in $X the Marketplace continues surpassing SIs, scale, and business of end ease, AWS through at A partners billion customer routes transacts cloud also speed sales for to Our majority business the marketplaces unified vast to where one accelerate AWS value. to we've be and market. marketplace our of resellers

recognize The leadership. Falcon Industry our is platform and and certified. validated, regularly analysts tested Falcon

recent two are examples. Here

First, Quadrant. the Gartner's Magic EPP

to as leadership CrowdStrike's in execute right Our the vision ahead year's our and solidifies placement of vendor ability for this positioning profile. completeness to every Magic unequivocal highest and of Microsoft in Quadrant itself. other in speaks furthest market

the CrowdStrike two for wave placed security vision of one Second, the security cloud in for leaders market, only as Forester highest cloud entire and innovation. ranking

single that In future. pioneered brought power the crowd. agent, facto and other displaces us data-centric of cybersecurity We single the stop about the as cybersecurity I mission de disrupts, Since to quickly our AI contribution apart. platform conclusion, the we It's security goes beyond consolidates the the we've completed become to and sets to as technology. CrowdStrike's breaches company, starting couldn't cybersecurity, platform and we unified for more year vendors. be bright CrowdStrike's our well excited cloud.

are We community. cybersecurity's

all user. that sizes of jobs, the billions It's set. and security mission, CrowdStrike cybersecurity protect is threat Gen about this security, make is CrowdStrike It's that power X.X defenders SOCs depend of certification on by that threat detections The the the CrowdStrike commercial assistant every complete a vertical In landscape, and cybersecurity skill line on. more threat CrowdStrike the new screen. ecosystem, is to It's It's user cybersecurity's of what that's pioneered When of delivers stock system. than crowd, millions created CrowdStrike month reseller technology, CrowdStrike search day every When stop breaches. cybersecurity's stopping talking It's card. the bar CrowdStrike to companies operating where at million governments intelligence CrowdStrike professionals apply the to dedicated is breach. society that the queries makes platform. top geography, In every analysts is XDR the log the ISV in where across AI for required CrowdStrike of first the every CrowdStrike daily. and definitive the

I'll over turn call that, to the Burt. With

and George, good everyone. afternoon, you, Thank

reminder, today all except CrowdStrike finish adoption numbers record exceptional during year, non-GAAP. otherwise market noted, a of to quick execution, a mentioned unless growing an the platform. revenue As our outstanding delivered my quarter leadership Falcon the accelerating remarks are fourth and and highlighting

full XX% And record grew we the a respectively, year-over-year more XX% attributable bottom For per fiscal on ARR achieved growth, share. $XXX.X $X.XX than $XXX.X of EPS XX% or and or CrowdStrike revenue ending Operating net line. million reach million diluted year, significant XX% the delivering revenue. doubled to and income to to income leverage and record while reach a

XX% XX% for target flow to exceeding the grew year. cash of million our $XXX.X Free revenue, year-over-year reach or

proud following very IPO. year and have in to past the fiscal are the achieved our years we Additionally, profitability of full important X quarters than milestone X less for GAAP

Through to represent margin profile above for leverage have execution, in significant our and another in achievements XXx efficiently year cash XX%. high our from year fiscal our focus XXXX, ARR IPO fiscal free the delivering over growing by CrowdStrike. consistent flow ending on growing operating we business, Our scaled XXXX watermark

X in the X continue aggressively $XX to to achieve billion vision and of years. over reaching to engine our the invest We next its company innovation in ARR flank

XX% last extended have record many the market platform $X.XX the new in record Demand on the the XX% businesses. and last with And second growth. up ARR, off and leadership in record accelerating to QX, up we fourth finished was quarter consecutive as closed deals of specifics of large from our broad-based, executed $XXX million, over of we quarter quarter, strategy, year. representing ending QX to across billion a we small the quarter enterprises our large of we consolidation pipeline achieved net year's Moving our ARR

they or QX. modules vendors, by, This companies may of of While than Falcon CrowdStrike's strategy platform the with X doubling first, want and buy deals year-over-year to fatigued more have more in be embraced with other evidenced the more is platform. number

subscription more Second, subscription or XX% more, to X modules XX%, XX% where or respectively. customers, or X customers growing and X and of more

accelerated the And to ARR XXX to of growing customers all-time XXX. deals and XX% finally, QX. over greater an record at in total growth the million of Third, more $X with exceeding than value number with of million ending reached over than $X

served with our year the MSSP partners. excludes XX,XXX customers finished smaller which subscription through customers We

new increase We an are on adopting modules over average landing year. of customers bigger gate, out with X.X last the

which dollar-based gross net retention at slightly at and continue deals. rate Our has of from consistent rate ARR our the customers mix expectations benchmark XX%, we last high below new our remained is remained as with new and above net was retention XXX%, bigger our quarter land to

in For the interim QX. XXX% XXX% QX, and quarters, FY was in Net XXX% retention 'XX QX in

rate to FY more 'XX, our net business points retention the a greater into and plus customers and or bigger minus expect heights to with few XXX% a to scales as Looking land even continue modules. within dollar-based fluctuate of we

region revenue reach over representing QX to revenue million. The fourth quarter to revenue all year X% geographic Pacific to Middle XX% year XX% XX% grew XX% $XX.X of year-over-year from last from XX% from QX P&L. was Moving XX% Subscription $XXX.X from Africa, revenue the and of reach of the of over Europe, Professional services $XXX.X other the Asia Total consisted grew U.S., last million markets. growth. approximately and mix million. East

XXX of points basis Total XX% by year. year-over-year increased subscription the XXX above basis reach XX% to margin prior and quarter, an gross points the margin was in fourth over gross increase

driven data platform exceptional delivered continued customer gross the by our in as supported optimization. command ability was as strong performance to pricing, well Falcon margin the value stable investments by and Our center by our workload

prior to in quarter the million fourth XX% expenses XX% of of operating $XXX.X year. non-GAAP revenue the compared were in Total revenue or

and investments underpin strategic deliver ability Our business and the scale our growth. innovation profitable to talent in

to net In $X.XX operating grew margin doubling year-over-year XX%. to reach points year-over-year $XXX.X $XXX.X to year-over-year. share income income on percentage a million basis, QX in more XX quarter, the fourth to increased diluted XXX% million, grew Non-GAAP a attributable record a record a by and non-GAAP per than operating or each CrowdStrike record reach

common fourth shares shares. quarter XXX to weighted EPS used on calculate to approximately average non-GAAP attributable basis totaled a was Our million diluted CrowdStrike and

We ended revenue, strong flow a with from quarter basis. the $XXX.X and fourth million $X.XX record Free on to $XXX.X a Cash XX% equivalents investments Cash cash and Rule sheet. of grew cash billion. record million. reached balance a of short-term cash or operations achieving was a a record flow a flow free XX

few our I a Before to modeling provide like outlook, I'd notes. move to

we First, and rates QX pipeline. momentum win deal the sizes, including a larger business record the encouraged in are by increased

to to backdrop. our However, challenging providing environment a therefore, are that a approach amid we the prudent macro a maintain consistent outlook remains assumes continue macro and consistent today we guidance and challenging,

performance up in QX, to ending not Second, calls double net assumptions QX to do respect will least low while current net with share of the new digits guide ARR seasonality incredible year-over-year for new to growth be at the specifically new net QX, teens. we which ARR I or given ARR, to our

$XX we of billion in FY strong go-to-market and hiring and increasing market, beyond. of ARR the our invest Third, as in 'XX engine our given our momentum business innovation to to in are functions pace scale to continue the we

year, to marketing half timing to merit of we the to result and the in timing the more programs, of our leverage cycle expect back operating of of increased weighted be the a half As of changes hiring certain FY 'XX. the first

XX% for our XX% flow XX% 'XX between target revenue. raising between and are XX% to and cash free we from Next, FY of

expense, income included our on Investor and our this website. outlay Relations earnings be after presentation call CapEx will taxes Our and on available cash assumptions interest for in

to Moving outlook. our

$XXX.X quarter a FY first the $XXX.X of in to we million, reflecting of the to XX% growth be to revenue expect million rate total 'XX, year-over-year For XX%. range of

the to $XXX.X net $XXX.X to million be $XXX.X income expect to to attributable in of range from range million $XXX.X be of non-GAAP million. operations in and We the CrowdStrike non-GAAP million income to

be diluted share share to $X.XX, count expect of attributable a income million average non-GAAP to We XXX diluted $X.XX basis. weighted approximately net CrowdStrike a shares per on to utilizing

For the income of be XXXX, fiscal XX% from over to expect the XX% total million. $XXX.X to operations be is $XXX.X rate Non-GAAP $X,XXX.X million, of currently to between full range a expected growth the prior million we revenue reflecting fiscal year year. and in $X,XXX.X to

We expect attributable to fiscal in be income million share $X.XX. net $X.XX XXXX and XXX average expect per income net to diluted to a attributable non-GAAP $XXX.X we range million. million between basis, CrowdStrike on to shares Utilizing $XXX.X non-GAAP weighted be the CrowdStrike of to

and I questions. will take George your now

Instructions]. [Operator

Our from the comes first of Kalia question Saket line of Barclays.

to the you. on Congrats finish maybe team the to Great. a year. strong Okay. George, for

platform products. million from maybe what I think call in me the number the $XXX that sticks out the most I'll to from the is quarter ARR

the markets, win a the competitors. definitely cloud in to a couple you think landscape those but like markets? just talk areas about is and those security rising SIEM. giving of of competitive can some right a also tide in good mean, you question is, those So CrowdStrike in some What do I

Well, use create scale what core to use protection. multiple data years And just beyond which key platform, And about is has really, allowed cases. this is solve to our the a then platform that endpoint that a many, us us the Saket. really success and cases that allow been part hard work was when Obviously, many thanks, modules of company, seeing of ingest really all it creating are I at key you're data of driver. started

posture looking, looking all alphabet soup and rationalize they're of So there. And cloud to customers not are think it the protection, cloud are they when security, want into integrated products runtime a but out platform. data we management, really about only that for

around legacy now we that interest maybe with When given SIEM a that technologies, SIEM for are integrated in seen the the including think and platform and they're like more the really what And the we lower into outcomes CrowdStrike what about market, a lot the of them outcome Flow, which data and structure are existing I give better more looking think better market done acquisitions, now way of So just customers, of faster obviously and cost results, a a TCO. is positioned and a frustrated natively we've success. to it's product, well importantly, the area those. the customers -- lot they want, we've overall our is some from LogScale's and

labor can So beyond how we starting it's that talking that is solve years well concept I to use data many case think for we've just protection. now been everyone and of see fruits our this endpoint Burt? about the

Yes.

agree, I So would George.

at of day, there we're in the in all about when of the about We end off portfolio. thinking platform. the each think we the that platform and It's our that really are work kind are They we're different products of can. possibly regardless products for as the just sell I us, of other, solving many are out the platform. what as the outcomes

Our the JPMorgan. next from question of Brian comes line of Essex

question and maybe the both wanted the directly for few Great consolidation from to ask in a you a to follow-up I George, thoughts your prepared Saket's on strong remarks. to team. and pricing more Burt. articulated a see results you But little

a in about talked strategy vendors One space of platformization. other the the of has

and maybe does in your context, how go-to-market with this impact So that pricing?

lot XX competitors giving last are which believe Well, nothing products is and it's I software, security free, for week. a thanks, up new. for away term. made as and years. heard bundling done software To [indiscernible] discounting the imagine, But kind been of about the you a talking might me, our is it's In Brian, over last I what platformization about

free. what their masquerading environment. about customers seen So point We platforms in in more free more create And fatigue think other what with saying isn't consoles, when know are the as past is competitors. we we've products

again, down And been one of the things, on that use importantly, solve platform, architecture, single-agent focused many out is single the are cost that that we've breach, that single supply cases console to the us more and stop operational allows use or many but cases a there. drive

I time that around at saw of And for was acquired. a that, and McAfee. and this movie I've with So I've bundling the been block multiple wrap products I seen together last were bit. roll

have So I add that? don't to know, Burt, anything do to you

Yes.

for us. at day, That's not end not George, done customers discounting. and look, day, we've period. get never our greatest free of the amount good ARR. been on point, company outcomes enough. the the And the more been here a help get has a that is of not sell we increased is TCO, us, And free We've to end that's the we're lowest prices to George's company at never to at good of think, I And the value. deep

Owens Sandler. Rob question next the Piper of of line Our from comes

consolidated if are contracts. compressing wondering your of appear step-up was that if outgrew could function the a a customers duration. longer and durations, market? year it committing billings, After you the of modest your for billings your dynamic another I platform in address that's or does billings total short-term Wondering in

deals. more think Rob, so it's sure, I the for historically, a second, seen is of multiyear it's about But platform. couple the One, a lot we've QX -- things. of

more given at to in on. timing noisy that, see we an general, But that's quarter. billings duration a said us that the remember, heavily also the focus the the by renewals We aftermath. -- just is It's having it's as and influenced deals within for of Billings And right? end the But in of business do one manage and metric, we QX day, in ARR. well.

billings a we really that's It the but You're quarter, right. strong how not was business. run

line Our next the Joel question Truist. from Fishbein comes of of

market and the DLP as follow-up acquisition great of data congrats a well. the for or Flow. just the market George, on Congrats execution on the you on

curious Just integrated. will be how that

how big You guys, of about the talk that as competitive market for big market maybe obviously, is is very mention for disruption. a well. didn't ripe that dynamics but that And you really

the excited Sure. only also we because not the classification we this do of get about Well, we're runtime cloud. data, in the protection but get

in even our legacy to the through and in So prepared motion, data because data DLP. And all I of I cloud for AV applications. fit about data don't of It's it's and protection flows to when really call DLP, company's that protection in how like not a about a organization, company only we their perfect similarities what all talked legacy the saw remarks term started I was again, in there's it I but of the the lot a module. data what

of a that, our the excited this so has tremendous about of But We far, as fit. about We've part got DLP good excited and We're on next so time And the we'll a on wins So sure That customer integrated, legacy data user then I a be the interest of down perfect of protection We're technologies. the it's got platform. will course, lot and integration. think our closed spend replacing -- team. experience. weeks in module. this out in technology. of the be the making the some amount right acquisition get closed there with we'll couple heads

Fargo. comes Nowinski question the Andrew from next Wells of of Our line

is particularly that's some light a quarter of in in amazing been of the really the It noise market. again,

relative to your wanted you I that And partnerships about partners I that expectations? I you contribution guess, first, ask last and the 'XX PaxX the FY user year. how announced conference to -- today in the your outlook? Dell did So into partnership quarter about to from contribute with then partners the in expanded second, results your those at also both think, factored the announced you have

Burt. the take it over part, turn I'll and Yes, I'll first to

about reach partnership. are advantage their we're obviously about innings. very Dell of way earlier. the them. the we in taking SMB, We're talked their to enterprise So that large start motion. really, I'll all excited with go-to-market early I deals, And the and down winning

that put early still days, big numbers some partnership. up we've already So and from

at their are down an SMB. ransomware customers They what the market can't business. like, have to problems. look And impact seen success, solve looking the hit by again, looking for, tremendous but early to the customers big still are in and smaller or PaxX they even particularly we be it's can't When days, we've

So it's a like And far. perfect days, to Burt? but results model I said, tremendous so to SMBs. early those for us get it's,

Yes.

Dell but additional about days early routes that one But to believe it's with mentioned. So excited market, both they're to partners. they're on have and We of -- both market. very we're they to routes as I that many still going excited we're represent board us, on think bring them to and had PaxX, to partnerships deals do of them, George as

the from comes question of Tal line Liani of America. next Bank Our of

Alto pricing Palo kind components see the of about feel do of the the contribution you And package? of the of XDR -- Microsoft about was the story and a add-on to the individual of few pricing market pricing individual one that impact want the there and feel -- some your we ability So pressure the environment of discussions is or this you their -- past to and Cortex Palo of on you had I is ask, modules. but by that touched weeks from question it, the do about. -- offset just with don't story offset others, on each And is off components talking compression bundle XDR you -- Alto price this

long impact companies. very -- that we -- Well, as again, we prominent been ransomware for we've talking the do. look space, to I we've of look at the you're time. in for dollars some try hundreds of what about these the I a I mean on And about solving have of leader to able when focus millions can had, been And breaches problems and

the looking to total for of us, when So looking are at that we one-off what or what together. And to sort we're solution stop at. capabilities breaches has think put package modules the that buy of customers about the of nature, a and platform we is really things

to motion, competitive And to remarks. have have have talked the about the some we environment, the right you of a have go-to-market competitive level of a in of it's have to product, right innovation, which but and you have course, prepared you

think of we're that see day, And free we've the spent return price end between what And be to on to And on deliver I to for outcome. to we've And right realize the value able investment. and So we're competitive. and seen enough going is every difference what with customers has been outcomes that will it that -- competitive. finding enough. are want smart not good not It their has customers been that's is free, But the is is we continue and a at enough show CrowdStrike good $X customers. cost. dollar the total

line the Henderson from comes Needham.. question of Alex next Our of

you Thank much. so Great.

first to that So was ever not endpoint platform, George, thing an you're company. a you me, said

it you've the think I proving high last with year. over alacrity been

really just is the platformization. It coming like but sounds comments that here that trying do are offering of in integrated. they're having truly you're bundles the are the the to With about companies products, response that not that

integrate talk that be cloud some different hearing to is API-driven. from radically native of any to you the based would seeing degree players. than the you Your services, off other or platform, into And think what platform if I were we're of micro which acquisition to it

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the can. Thanks, I our conversations and I remember a And question. I the Sure, when company. great for Yes. do absolutely Alex. finally, started cybersecurity you're right platform being It's early about

is So allows outcomes. leverage does then and think once, data It's architecture created get collect when use our that data-centric and create AI scale really very what about into we that at the many. us architecture architecture, to our matter we've a platform,

platform. single a have We

other competitors as have them. platforms many they Our call

a We have single agent.

competitors. agents X, X the depending X, have competitors Our on X,

is it involved looking -- about diligent at I it. they very was a of you, in unless I've want. agent tell to life, stuff is today stopping I've products. when can and you're and So level the problems to the and been And that what at the from near this acquired stitch cost, ease lot proofing that prior that for, in it designed all is lowering impossible companies architecture, of use, solve together, look the a the And particularly really of beginning breaches of customer result future a we our the the problems. outcome future

that some about products And integration, on them acquisitions, thoughtful fruits to wanted and But focus I what's we you've part perspective, bought on we've seen, diligent is months because our the we important now like the And haven't a and identity. of we been from the really can tell of you things realize CrowdStrike labor. sold very the also as see for to our we better pricing. XX of

helped from because this it's the our very focused, So us that started innovative approach have we beginning. platform to think, a acquisitions, I cloud-native long-term diligent with

question comes of UBS. from the Boyd line next Roger Our of

time early wanted a talk on end were positive the pipeline that a you monetize customers to as to updated part year. of in we've the positive the spoken line future. George, said Charlotte. the as could monetization Charlotte your and stats the to from to on Any around Congrats access The product well do of that really view here? or that I can program today couple it Great. pretty what where about automation. ability go of on strong both the product sound

customers We We have Charlotte. is yes, released paying in just that the it. already Well, goal.

platform and news think we're is I pay automation, platform, our native our foundational the create value willing the way expertise and the in us, of well for we to for news leveraging for see around of we've us the that they're the architected Obviously, as But customers, automation to they capabilities areas have. different it component it good this. the as allows it. good innings early the So a of as

bring understand and and goal, is the gotten the CrowdStrike of SOC, they of small? and SOC, you and big where value that so in our customers and time bring. savings the response customers far, we've bear that overall collective the drive from again, can And for to it do fast categories how automation you wisdom So its years modernize the do do knowledge the take in you how how

it But on to from week come and we're I'm seeing Obviously, this. by we just or so. more the customers. So encouraged GA-ed what hearing overall, last over very

Matt of RBC. comes the Hedberg question of next from Our line

about obviously, last I flat I'll Burt, offer for from you commentary new a of time new year new your net think this give X% QX. net terms ARR ARR And of helpful this well, from a guys. year. sort us perspective directional curious, in about believe it perspective? 'XX. my Any did just full for guys about you just I'm as year, growth I was congrats guardrails talked fiscal thinking like you

really talked So there. year all the to from we And ARR, to we with in it. ARR. respect build comment obviously, where that's past of and about we've I kind don't QX have But on guide started can the in really

You remained guide. at we're of can -- our and about the has methodology kind end how it. consistent, And but going guide we of where with the think -- the that's infer day, our

it like -- the linearity, it the sounds dollars new new point for net So -- to of expect your for year? sounds low net growth like be commentary on you or sort would QX

That would accurate. be Yes,

of John the of question line Our from comes DiFucci Guggenheim. last

you Listen, another past as to about why as these the everybody past is question see. great look there. future. I about ask -- like is past. the the others at no out how It's question but but another results, compared I'd said, matter it, to to ask impressive But think, especially to I'd really like know, It's that's great. the you are George,

how given you've you, a it. but of given this that think different it an sexy are lightweight I AI you about And I'm see I it know a might customers. buyer, just you Charlotte mean. we available I could conversations had perhaps could which all and your that worth harder -- certainly be data product your for going I collect, how or IT product. just even should generally seems are for is with collect guess might everybody the given be AI the whole world Falcon but forward, too, winner It's it But new or a agent new loser, we'll was the it -- know you sure develops. development make early

better IT found for the the that home of the long that it's Falcon needed solving we at excitement team one it a Well, tell talked things we I've a problems that for IT. are looking about out generally now we solution area. you a around of a IT off Customers charts the has got challenges for customer carve security when to really this and that is for available. Falcon in lot to IT for And and is been time, and

the agent our having actually at many So is competitors when but obviously, and IT you which that already, ability it's problems, doing to market, solve were fantastic. our big a of a market, some in it's look pretty of customers -- single

and platform. to heart again, off for doesn't we Falcon the days, of and the to it data, the collect is how So have feedback goes it built IT, early or data for And came data. almost either charts the can be but interest To It use we ingest. originally many security cases can that first-party data solves be data to now to related third-party our beyond market with. we any what agent the

the So sky I is think the limit there.

turn Thank to you. George would the Sir? I back now closing like Kurtz to remarks. conference for

investor thank So forward your for look our and to certainly interest want I today. We upcoming events. of you so time Thank appreciate to you all much. at you your seeing

you today's conference call. for Thank concludes participating. This

disconnect. now may You