• Ending ARR grows 23% year-over-year to reach $4.24 billion, adding $224 million in net new ARR in Q4
• Achieves full year subscription revenue of $3.76 billion, growing 31% year-over-year
• Delivers record full year operating cash flow of $1.38 billion and record full year free cash flow of $1.07 billion

AUSTIN, Texas: CrowdStrike Holdings, Inc. (Nasdaq: CRWD), today announced financial results for the fourth quarter and fiscal year 2025, ended January 31, 2025.

“Delivering $224 million of net new ARR, which brings our ending ARR to $4.24 billion, places us firmly on the flight path to our $10 billion ending ARR goal,” said George Kurtz, CrowdStrike’s Founder and CEO. “As businesses of all sizes rapidly adopt AI, stopping the breach necessitates cybersecurity’s AI-native platform. We are seeing strong momentum in our Next-Gen SIEM, Cloud Security, and Identity Protection businesses, surpassing $1.3 billion in combined ending ARR. With 97% gross retention and accounts adopting Falcon Flex adding over $1 billion of in-quarter deal value, customers are increasingly consolidating on the Falcon platform as their AI-native SOC for today and tomorrow."

Commenting on the company's financial results, Burt Podbere, CrowdStrike's chief financial officer, added, "We achieved fourth quarter results above all guided metrics. The fundamental strengths of our business reflected in our strong customer retention, accelerating module adoption, and multiple large growth opportunities, give us confidence in our ability to achieve our target model by fiscal year 2029 and deliver long-term profitable growth."

Fourth Quarter Fiscal 2025 Financial Highlights

• Revenue: Total revenue was $1.06 billion, a 25% increase, compared to $845.3 million in the fourth quarter of fiscal 2024. Subscription revenue was $1.01 billion, a 27% increase, compared to $795.9 million in the fourth quarter of fiscal 2024.
• Annual Recurring Revenue (ARR) grew 23% year-over-year to $4.24 billion as of January 31, 2025, of which $224.3 million was net new ARR added in the quarter.
• Subscription Gross Margin: GAAP subscription gross margin was 77%, compared to 78% for the fourth quarter of fiscal 2024. Non-GAAP subscription gross margin was 80% for both the fourth quarter of fiscal 2025 and 2024.
• Income/Loss from Operations: GAAP loss from operations was $85.3 million, compared to income of $29.7 million in the fourth quarter of fiscal 2024. Non-GAAP income from operations was $217.3 million, compared to $213.1 million in the fourth quarter of fiscal 2024.
• Net Income/Loss Attributable to CrowdStrike: GAAP net loss attributable to CrowdStrike was $92.3 million, compared to net income of $53.7 million in the fourth quarter of fiscal 2024. GAAP net loss per share attributable to CrowdStrike, diluted was $0.37, compared to income of $0.22 in the fourth quarter of fiscal 2024. Non-GAAP net income attributable to CrowdStrike was $260.9 million, compared to $236.2 million in the fourth quarter of fiscal 2024. Non-GAAP net income attributable to CrowdStrike per share, diluted, was $1.03, compared to $0.95 in the fourth quarter of fiscal 2024.
• Cash Flow: Net cash generated from operations was $345.7 million, compared to $347.0 million in the fourth quarter of fiscal 2024. Free cash flow was $239.8 million, compared to $283.0 million in the fourth quarter of fiscal 2024.
• Cash and Cash Equivalents was $4.32 billion as of January 31, 2025.

Full Year Fiscal 2025 Financial Highlights

• Revenue: Total revenue was $3.95 billion, a 29% increase, compared to $3.06 billion in fiscal 2024. Subscription revenue was $3.76 billion, a 31% increase, compared to $2.87 billion in fiscal 2024.
• Subscription Gross Margin: GAAP subscription gross margin was 78% for both fiscal 2025 and 2024. Non-GAAP subscription gross margin was 80% for both fiscal 2025 and 2024.
• Income/Loss from Operations: GAAP loss from operations was $120.4 million, compared to $2.0 million in fiscal 2024. Non-GAAP income from operations was $837.7 million, compared to $660.3 million in fiscal 2024.
• Net Income/Loss Attributable to CrowdStrike: GAAP net loss attributable to CrowdStrike was $19.3 million, compared to income of $89.3 million in fiscal 2024. GAAP net loss per share attributable to CrowdStrike, diluted, was $0.08, compared to income of $0.37 in fiscal 2024. Non-GAAP net income attributable to CrowdStrike was $987.6 million, compared to $751.8 million in fiscal 2024. Non-GAAP net income attributable to CrowdStrike per share, diluted, was $3.93, compared to $3.09 in fiscal 2024.
• Cash Flow: Net cash generated from operations was $1.38 billion, compared to $1.17 billion in fiscal 2024. Free cash flow was $1.07 billion, compared to $938.2 million in fiscal 2024.

Recent Highlights

• CrowdStrike’s module adoption rates grew to 67%, 48%, 32%, and 21% for five or more, six or more, seven or more and eight or more modules, respectively, as of January 31, 20251.
• Announced the general availability of Charlotte AI Detection Triage, a major breakthrough in agentic AI-driven security operations.
• Launched CrowdStrike Insider Risk Services, a comprehensive set of offerings designed to help organizations detect and prevent insider threats from negligent employees, malicious insiders and sophisticated adversaries.
• Expanded leadership in hybrid identity protection with Falcon Identity Protection for Microsoft Entra ID.
• Recognized as a Customers’ Choice in the 2024 Gartner Peer Insights™ ‘Voice of the Customer for Managed Detection and Response' report2.
• Achieved 100% detection, 100% protection and 100% accuracy in the 2024 SE Labs Enterprise Advanced Security (EDR) Ransomware Test3.
• Announced the findings of a Total Economic Impact™ (TEI) study4 conducted by Forrester Consulting, in which it was found using Falcon Identity Protection achieved a 310% return on investment, with a payback period of under six months and $1.26 million in total benefits over three years.
• Named a Leader in The Forrester Wave™: Managed Detection And Response Services, Q1 20255.
• Announced CrowdStrike’s leadership across multiple Frost & Sullivan reports, with Adaptive Shield named the Leader in the 2024 Frost Radar™ for SaaS Security Posture Management (SSPM)6, recognized as a Leader in the 2024 Frost Radar™ for Cloud-Native Application Protection Platforms (CNAPP)7 for the third consecutive year, and awarded Frost & Sullivan’s Best Practice Company of the Year award in the MDR market.
• Named a Leader in the 2024 GigaOm Radar Report for Container Security8 and named a Leader and Outperformer in the 2024 GigaOm Radar Report for Ransomware Prevention9.
• Named an Overall Leader in KuppingerCole's 2024 Leadership Compass for MDR10.
• Achieved Federal Risk and Authorization Management Program (FedRAMP) authorization for Falcon Next-Gen SIEM, Falcon for IT, Falcon Data Protection and Falcon Exposure Management.
• Achieved the C5 (Cloud Computing Compliance Criteria Catalogue) certification, established by the German Federal Office for Information Security (BSI).
• Became the first cloud-native cybersecurity ISV to exceed $1 billion in annual AWS Marketplace sales, named the Amazon Web Services (AWS) 2024 Global Security Partner of the Year and announced an expanded integration with AWS, helping to secure end-to-end AI innovation in the cloud.
• Announced partnership with Oracle Cloud Infrastructure.

Changes in Presentation of Non-GAAP Measures

Effective in presenting periods starting on and after February 1, 2025, the beginning of CrowdStrike's fiscal year ending January 31, 2026, CrowdStrike will present employer payroll taxes related to employee stock-based award transactions as part of stock-based compensation expense in the GAAP to Non-GAAP Reconciliation. These payroll taxes will be excluded from CrowdStrike's non-GAAP results as they are tied to the timing and size of the vesting or exercise of the underlying stock-based awards and the price of CrowdStrike's common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of CrowdStrike's business. Employer payroll taxes related to employee stock-based award transactions amounted to $42.2 million in fiscal 2025.

Also effective in presenting periods starting on and after February 1, 2025, CrowdStrike will use a long-term projected non-GAAP tax rate of 22.5% for the purpose of determining non-GAAP net income attributable to CrowdStrike and non-GAAP net income attributable to CrowdStrike per share to provide better consistency across interim reporting periods in fiscal 2026 and beyond. Given the significant growth of the company's business and non-GAAP operating income, CrowdStrike believes this change is necessary to better reflect the performance of its business. CrowdStrike will continue to assess the appropriateness of the non-GAAP tax rate on a regular basis, which could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in the company's geographic earnings mix, or other changes to its strategy or business operations. The estimated impact of the non-GAAP tax rate of 22.5% to the outlook for non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted, is $(0.19) and $(0.98) at the midpoint for Q1 FY26 and full year FY26, respectively.

Please refer to the "Financial Outlook" section of this press release below for the company's Q1 FY26 and full year FY26 guidance.

Financial Outlook

CrowdStrike is providing the following guidance for the first quarter of fiscal 2026 (ending April 30, 2025) and guidance for fiscal year 2026 (ending January 31, 2026).

Guidance for non-GAAP financial measures excludes stock-based compensation expense and related employer payroll taxes, amortization expense of acquired intangible assets (including purchased patents), amortization of debt issuance costs and discount, mark-to-market adjustments on deferred compensation liabilities, legal reserve and settlement charges or benefits, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for income taxes, losses (gains) and other income from strategic investments, acquisition-related expenses (credits), net, and losses (gains) from deferred compensation assets. The company has not provided the most directly comparable GAAP measures because certain items are out of the company's control or cannot be reasonably predicted. Accordingly, a reconciliation for non-GAAP income from operations, non-GAAP net income attributable to CrowdStrike, and non-GAAP net income per share attributable to CrowdStrike common stockholders is not available without unreasonable effort.

Please refer to the "Changes in Presentation of Non-GAAP Measures" section of this press release above for information regarding changes to the methodologies used to calculate Q1 FY26 and full year FY26 guidance.

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause the company's actual results to differ materially from these forward-looking statements.

Conference Call Information

CrowdStrike will host a conference call for analysts and investors to discuss its earnings results for the fourth quarter and fiscal year 2025 and outlook for its fiscal first quarter and fiscal year 2026 today at 2:00 p.m. Pacific time (5:00 p.m. Eastern time). A recorded webcast of the event will also be available for one year on the CrowdStrike Investor Relations website ir.crowdstrike.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding CrowdStrike’s future growth, and future financial and operating performance, including CrowdStrike’s financial outlook for the fiscal first quarter and fiscal year 2026, and beyond. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: risks associated with the content configuration update CrowdStrike released on July 19, 2024 for its Falcon sensor that resulted in system crashes for certain Windows systems (the “July 19 Incident”); risks associated with managing CrowdStrike’s rapid growth; CrowdStrike’s ability to identify and effectively implement necessary changes to address execution challenges; risks associated with new products and subscription and support offerings, including the risk of defects, errors, or vulnerabilities; CrowdStrike's ability to respond to an intensely competitive market; length and unpredictability of sales cycles; CrowdStrike’s ability to attract new and retain existing customers; CrowdStrike’s ability to successfully integrate acquisitions; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscriptions and support; CrowdStrike’s ability to collaborate and integrate its products with offerings from other parties to deliver benefits to customers; industry trends; rapidly evolving technological developments in the market for security products and subscription and support offerings; and general market, political, economic, and business conditions, including those related to a deterioration in macroeconomic conditions, inflation, geopolitical uncertainty and conflicts, public health crises and volatility in the banking and financial services sector.

Additional risks and uncertainties that could affect CrowdStrike’s financial results are included in the filings CrowdStrike makes with the Securities and Exchange Commission (“SEC”) from time to time, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including CrowdStrike’s most recently filed Annual Report on Form 10-K, most recently filed Quarterly Report on Form 10-Q, and subsequent filings.

Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to CrowdStrike as of the date hereof, and CrowdStrike does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Use of Non-GAAP Financial Information

CrowdStrike believes that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to CrowdStrike’s financial condition and results of operations. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the financial tables below, as well as the “Explanation of Non-GAAP Financial Measures” section of this press release.

Channels for Disclosure of Information

CrowdStrike intends to announce material information to the public through the CrowdStrike Investor Relations website ir.crowdstrike.com, SEC filings, press releases, public conference calls, and public webcasts. CrowdStrike uses these channels, as well as social media and its blog, to communicate with its investors, customers, and the public about the company, its offerings, and other issues. It is possible that the information CrowdStrike posts on social media and its blog could be deemed to be material information. As such, CrowdStrike encourages investors, the media, and others to follow the channels listed above, including the social media channels listed on CrowdStrike’s investor relations website, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which CrowdStrike will announce information will be posted on the investor relations page on CrowdStrike’s website.

Definition of Module Adoption Rates

1. Module adoption rates are calculated by taking the total number of customers with five or more, six or more, seven or more, and eight or more modules, respectively, divided by the total number of subscription customers (excluding Falcon Go customers). Falcon Go customers are defined as customers who have subscribed with the Falcon Go bundle, a package designed for organizations with 100 endpoints or less.

Reports Referenced and Disclaimers

2. Gartner®, Voice of the Customer for Managed Detection and Response (MDR), 28 November 2024, Peer Contributors

3. SE Labs Enterprise Advanced Security (EDR) Ransomware Test, January 2025

4. The Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of CrowdStrike. The results are based on a composite organization representative of interviewed customers.

5. The Forrester Wave™: Managed Detection And Response Services, Q1 2025

6. Frost Radar™: SaaS Security Posture Management (SSPM), 2024

7. Frost Radar™ for Cloud-Native Application Protection Platforms (CNAPP), 2024

8. GigaOm Radar for Container Security, 10 December 2024

9. GigaOm Radar for Ransomware Prevention, 5 December 2024

10. KuppingerCole Leadership Compass for Managed Detection & Response (MDR), 4 December 2024

Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this earnings release, and the opinions expressed in the Gartner Content are subject to change without notice.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and PEER INSIGHTS is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

About CrowdStrike Holdings

CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity, and data.

Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft, and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting, and prioritized observability of vulnerabilities.

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity, and immediate time-to-value.

CrowdStrike: We stop breaches.

For more information, please visit: ir.crowdstrike.com

© 2025 CrowdStrike, Inc. All rights reserved. CrowdStrike and CrowdStrike Falcon are marks owned by CrowdStrike, Inc. and are registered in the United States and other countries. CrowdStrike owns other trademarks and service marks and may use the brands of third parties to identify their products and services.

CROWDSTRIKE HOLDINGS, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)

	Three Months Ended January 31,								Year Ended January 31,
		2025				2024				2025				2024
Revenue
Subscription	$	1,008,316			$	795,947			$	3,761,480			$	2,870,557
Professional services		50,222				49,388				192,144				184,998
Total revenue		1,058,538				845,335				3,953,624				3,055,555
Cost of revenue
Subscription (1)(2)		229,641				175,509				835,509				630,745
Professional services (1)		44,349				33,063				155,972				124,978
Total cost of revenue		273,990				208,572				991,481				755,723
Gross profit		784,548				636,763				2,962,143				2,299,832
Operating expenses
Sales and marketing (1)(2)(4)(6)		409,504				290,357				1,523,356				1,140,566
Research and development (1)(2)(3)(4)(6)		315,142				213,998				1,076,901				768,497
General and administrative (1)(2)(3)(4)(5)(6)		145,203				102,737				482,316				392,764
Total operating expenses		869,849				607,092				3,082,573				2,301,827
Income (loss) from operations		(85,301	)			29,671				(120,430	)			(1,995	)
Interest expense(7)		(6,664	)			(6,422	)			(26,311	)			(25,756	)
Interest income		46,597				41,685				196,174				148,930
Other income (expense),net(8)(9)	If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter. Related news Mexico Gift Card Market Report 2025: Strong Growth Projected with Evolving Consumer Preferences and Tech Integration - Forecast to 2029 - ResearchAndMarkets.com CTG Appoints Dan Stoke Vice President of U.S. Healthcare Business Siemens Healthineers' AI, Imaging & Digital Health Tech Initiatives - ResearchAndMarkets.com Hyperscale Data Centers Industry Report 2025, with 20+ Company Profiles including Broadcom, Cavium, Cisco Systems, Dell, Ericsoon, HPE, IBM, Intel, Lenovo, NVIDIA, Quanta Computer & more - ResearchAndMarkets.com Palladyne AI Announces Employee Equity Awards Intevac Announces Details of Special Dividend Taiwan Gift and Incentive Card Market Future Growth Dynamics Databook 2025: A $4.25 Billion Market by 2029, Registering a Compound Annual Growth Rate of 7.9% During 2025-2029 - ResearchAndMarkets.com AV’s Cutting-Edge One-Way Attack UAS Secures DIU Backing Under Project Artemis Last News RSA at Cybertech Europe 2024 Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for… Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurity G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes How Austria is making its AI ecosystem grow Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries Sparkle and Telsy test Quantum Key Distribution in practice Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing… Most read SecureW2 Wins 10 Cybersecurity Excellence Awards, Cementing Dominance… SecureW2 – the leading provider of continuous, policy-driven authentication solutions – today announced that its cloud-native JoinNow Platform received… Banking-as-a-service Leader Synctera Raises $15M And Signs Bolt, Its Largest… Synctera, the leader in banking-as-a-service and embedded finance, announced today a $15M round of funding, bringing the company to a total of $94M raised… AffiniPay Launches 2025 Legal Industry Report: Embracing Technology, Financial… #AI--AffiniPay, a leader in legal practice management software, integrated payments, and embedded fintech solutions for professionals, has announced the… Varicent Named a Leader in The Forrester Wave™: Sales Performance Management… Varicent, a top provider of sales performance management (SPM) and incentive compensation management (ICM) solutions, has been named a leader in The Forrester… Newsletter signup Join our mailing list to get weekly updates delivered to your inbox. Sign me up! G11 Media Networks BitCity ChannelCity ImpresaCity SecurityOpenLab GreenCity ImpresaGreen ItalianChannelAwards AgendaIct Home Newsletter Staff Copyright Contact us InnovationOpenLab is a channel of BitCity, a newspaper registered at the court of Como , n. 21/2007 del 11/10/2007- Registration ROC n. 15698 G11 MEDIA S.R.L. Registered office Via NUOVA VALASSINA, 4 22046 MERONE (CO) - P.IVA/C.F.03062910132 Como business register n. 03062910132 - REA n. 293834 CAPITALE SOCIALE Euro 30.000 i.v. Cookie Privacy