CrowdStrike posts quarterly revenue of $152 million, up 89% yoy

CrowdStrike Holdings, which offers cloud-delivered endpoint protection, reported revenue of $152.1 million for its fourth quarter and fiscal year 2020 ended January 31, 2020. Quarterly revenue rose 89% compared to $80.5 million in the fourth quarter of fiscal 2019.

“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.

Some highlights

• 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.
• 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.