CrowdStrike (Nasdaq: CRWD) reported robust financial results for the second quarter of fiscal year 2025, ending July 31, 2024, with total revenue reaching $963.9 million, up 32% year-over-year. The company’s Annual Recurring Revenue (ARR) also grew by 32% to $3.86 billion, driven by $218 million in net new ARR during the quarter. CrowdStrike’s strong performance was further underscored by a significant increase in GAAP net income, which grew more than fivefold compared to the same period last year, while non-GAAP net income rose by 45% year-over-year.
In addition to its strong financials, CrowdStrike set new records in operating cash flow and free cash flow, reporting $327 million and $272 million, respectively, for the second quarter. The company highlighted continued growth in its Falcon platform adoption, with increasing module adoption rates, and announced strategic partnerships with Hewlett Packard Enterprise and key technology distributors in Latin America to accelerate AI-driven cybersecurity innovation. Despite a challenging threat landscape, CrowdStrike remains committed to innovation and meeting the evolving security needs of its customers.
• Revenue: $963.9 million, up 32% YoY.
• Subscription Revenue: $918.3 million, up 33% YoY.
• Annual Recurring Revenue (ARR): $3.86 billion, up 32% YoY, with $218 million in net new ARR.
• Net Income:
• GAAP Net Income: $47.0 million, compared to $8.5 million in Q2 FY24.
• Non-GAAP Net Income: $260.8 million, up 45% YoY.
• GAAP EPS: $0.19 per diluted share, up from $0.03 in Q2 FY24.
• Non-GAAP EPS: $1.04 per diluted share, up from $0.74 in Q2 FY24.
• Cash Flow:
• Operating Cash Flow: $327 million, a record for Q2.
• Free Cash Flow: $272 million, a record for Q2.
• Cash and Cash Equivalents: $4.04 billion as of July 31, 2024.
• Module Adoption Rates: 65% for five or more modules, 45% for six or more, and 29% for seven or more.
• Strategic Partnerships:
• Hewlett Packard Enterprise: Focus on securing end-to-end AI innovation.
• Latin American Distributors: Ingram Micro, M3Corp, and Tecnología Especializada Asociada de México.
• Recent Achievements:
• Exceeded $1 billion in total sales with CDW Corporation.
• Set a speed benchmark in cybersecurity threat detection during MITRE Engenuity’s ATT&CK Evaluations.
“Our second quarter demonstrates the resilience of our business and platform – with LogScale Next-Gen SIEM, Identity Protection, and Cloud Security eclipsing $1 billion in combined ending ARR,” said George Kurtz, CrowdStrike’s chief executive officer and co-founder. “Our vision and mission of stopping breaches remains unchanged.”
