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Crowdstrike
🇺🇸 NASDAQ:CRWD
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•
Apr 30, 2022

Crowdstrike Q1 2023 Earnings Report

Crowdstrike's Q1 2023 results were marked by strong ARR growth, record cash flow, and increased customer adoption of multiple modules.

Key Takeaways

CrowdStrike reported an exceptional first quarter, with a 61% year-over-year increase in ending ARR, reaching $1.9 billion. The company added over $190 million in net new ARR and achieved record cash flow from operations and free cash flow. The company also raises revenue and profit guidance for fiscal year 2023.

Ending ARR grew 61% year-over-year to $1.9 billion, with over $190 million in net new ARR.

Cash flow from operations increased 46% year-over-year to a record $215 million.

Free cash flow grew 34% year-over-year to a record $158 million.

Subscription customers adopting six or more and seven or more modules more than doubled year-over-year.

Total Revenue
$488M
Previous year: $303M
+61.1%
EPS
$0.31
Previous year: $0.1
+210.0%
Annual Recurring Revenue
$1.9B
Previous year: $1.19B
+59.7%
Gross Profit
$361M
Previous year: $224M
+60.9%
Cash and Equivalents
$2.15B
Previous year: $1.68B
+27.6%
Free Cash Flow
$158M
Previous year: $117M
+34.3%
Total Assets
$3.84B
Previous year: $2.88B
+33.1%

Crowdstrike

Crowdstrike

Crowdstrike Revenue by Segment

Forward Guidance

CrowdStrike is providing the following guidance for the second quarter of fiscal 2023 (ending July 31, 2022) and increasing its guidance for fiscal year 2023 (ending January 31, 2023):

Positive Outlook

  • Total revenue for Q2 FY23 is expected to be between $512.7 - $516.8 million
  • Non-GAAP income from operations for Q2 FY23 is expected to be between $70.4 - $73.3 million
  • Non-GAAP net income attributable to CrowdStrike for Q2 FY23 is expected to be between $64.9 - $67.9 million
  • Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted for Q2 FY23 is expected to be between $0.27 - $0.28
  • Total revenue for full year FY23 is expected to be between $2,190.5 - $2,205.8 million

Challenges Ahead

  • Non-GAAP income from operations for full year FY23 is expected to be between $306.5 - $317.8 million
  • Non-GAAP net income attributable to CrowdStrike for full year FY23 is expected to be between $283.3 - $294.6 million
  • Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted for full year FY23 is expected to be between $1.18 - $1.22
  • Weighted average shares used in computing Non-GAAP net income per share attributable to common stockholders, diluted for Q2 FY23 is expected to be 240 million
  • Weighted average shares used in computing Non-GAAP net income per share attributable to common stockholders, diluted for full year FY23 is expected to be 241 million

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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