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Jul 31, 2023
Crowdstrike Q2 2024 Earnings Report
Crowdstrike's Q2 2024 earnings showcased strong growth, exceeding guidance and achieving GAAP profitability for the second consecutive quarter.
Key Takeaways
CrowdStrike reported strong Q2 FY2024 results, with revenue exceeding expectations and achieving GAAP profitability. Ending ARR grew 37% year-over-year to $2.93 billion. The company delivered record Q2 cash flow from operations of $245 million and record Q2 free cash flow of $189 million.
Total revenue was $731.6 million, a 37% increase compared to Q2 FY23.
ARR increased 37% year-over-year to reach $2.93 billion.
GAAP net income attributable to CrowdStrike was $8.5 million, compared to a loss of $49.3 million in Q2 FY23.
Net cash generated from operations was $244.8 million, compared to $209.9 million in Q2 FY23.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
CrowdStrike is providing the following guidance for the third quarter of fiscal 2024 (ending October 31, 2023) and increasing its guidance for the fiscal year 2024 (ending January 31, 2024).
Positive Outlook
- Total revenue Q3 FY24: $775.4 - $778.0 million
- Total revenue Full Year FY24: $3,030.7 - $3,042.9 million
- Non-GAAP income from operations Q3 FY24: $154.4 - $156.3 million
- Non-GAAP income from operations Full Year FY24: $601.3 - $610.5 million
- Non-GAAP net income attributable to CrowdStrike Q3 FY24: $179.8 - $181.8 million
Challenges Ahead
- Non-GAAP net income attributable to CrowdStrike Full Year FY24: $680.4 - $689.7 million
- Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted Q3 FY24: $0.74
- Weighted average shares used in computing Non-GAAP net income per share attributable to common stockholders, diluted Q3 FY24: 244 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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