CrowdStrike, a leader in cloud-delivered cybersecurity, has reported a significant increase in its financial performance for the fiscal year ended January 31, 2024. The company's total revenue surged by 36% year-over-year to $3.055 billion, with subscription revenue accounting for 94% of the total and growing by the same percentage. Professional services revenue also saw a notable increase of 43%. The cost of revenue rose by 26%, but the company maintained a strong gross profit of $2.299 billion, a 40% increase from the previous fiscal year. Operating expenses were up by 26% in sales and marketing and research and development, reflecting the company's continued investment in growth. Despite these increases, CrowdStrike achieved a net income of $90.585 million, a significant improvement from the net loss of $182.285 million...Show More

CrowdStrike, a leader in cloud-delivered cybersecurity, has reported a significant increase in its financial performance for the fiscal year ended January 31, 2024. The company's total revenue surged by 36% year-over-year to $3.055 billion, with subscription revenue accounting for 94% of the total and growing by the same percentage. Professional services revenue also saw a notable increase of 43%. The cost of revenue rose by 26%, but the company maintained a strong gross profit of $2.299 billion, a 40% increase from the previous fiscal year. Operating expenses were up by 26% in sales and marketing and research and development, reflecting the company's continued investment in growth. Despite these increases, CrowdStrike achieved a net income of $90.585 million, a significant improvement from the net loss of $182.285 million in the previous year. The company's Annual Recurring Revenue (ARR) grew by 34% to $3.435 billion, with a dollar-based net retention rate of 119%. CrowdStrike's future plans include continued investment in sales and marketing, research and development, and potential strategic acquisitions to enhance its technology platform and product functionality. The company also announced a definitive agreement to acquire Flow Security Ltd. for approximately $115 million, expected to close in the first quarter of fiscal 2025.