CRWD - Earnings call transcript Q1 2025 | CrowdStrike Holdings, Inc.

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Operator

Good day, everyone, and thank you for standing by. Welcome to CrowdStrike Fiscal First Quarter 2025 Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand it over to the Vice President of Investor Relations, Maria Riley. Please go ahead.

Maria Riley

Good afternoon, and thank you for your participation today. call Co-Founder Kurtz, Podbere, of Officer. the Executive and Chief on and Officer CrowdStrike; me are President George Chief Financial With and Burt

we including historical the the outlook are meaning facts, and XXXX note those regarding assumptions outlook like fiscal during Before for forward-looking plans, second any call Litigation statements that expected including Act of statements I within objectives, of the and performance, future XXXX. These fiscal statements our growth, this year not date certain and made Reform of to are that our started, get projections quarter periods that for would call. Securities only Private forward-looking beyond the this of represent as our including

any from results and the new statements any reasonable, are statements forward-looking a events forward-looking update Factors and because filings the factors financial to the subject are or make other on and the these affect We Reports. whether or the could as could undertake alter expressly Annual uncertainties. based and including materially do believe on expectations actual are Risk we not to disclaim company's While that is current future and of with SEC to statements, make differ we included time, in results information, we section otherwise. Further the titled information result Quarterly time obligation in our risks company's

George. versus at Relations will X-K our revenue, the is all Form a today. With filed or non-GAAP the A available and excluding non-GAAP to be measures financial stated, non-GAAP. use in GAAP I found discussion call currently our may on schedule otherwise release unless earnings we on ir.crowdstrike.com be showing turn over results reconciliation that, on our SEC why call Additionally, with financial disclosed Investor now this of will press measures website which

George Kurtz

fiscal year our us metrics. our year the guided XXXX. momentum Maria, from of earnings all We of for outperforming a first thank call you Thank strength, joining position start and for you, exceptional and

platform delivering and Record delivered AI billion, free XX% ARR record revenue XX% gross net scale Rule million, record $XXX achieved ARR and million, at and year-over-year. only of and year-over-year. free XX% geography, of profitability. We growth of profitability. every managing records every the of area. CrowdStrike consecutive QX line of QX. solution new closely $X.XX margin market Record of us year-over-year flow all over of scale segment delivering Our reaching fifth growing operating growing significant a ending native XX while this of cash a cybersecurity P&L Record XX% vendor cash wins every GAAP leverage of subscription flow $XXX making level every of these and quarter our

as want of landing before. and in with unequivocal Falcon future our desire North platform we're at their adding they power brand $XX in We're innovation with identity in cloud, deals cybersecurity our growth, single more the foundational scale. continue and software we the as the modules customers platform CrowdStrike as than capacity, is ending on investing deals coupled we're path ever more to Even market's partner standardizing to cybersecurities Falcon their Next-Gen consistently to firmly or with doubled platform modules The while the consolidate, consolidator. ever. We're number for Star. accelerating closing investing is investing theme than of that market-leading hearing billion in CrowdStrike's SIEM and involving Falcon year-over-year, trust sales AI-powered results underpinning on consolidate some largest a This us of cybersecurity ARR. The the

not a start, together architecture easiest AI, install platform multi-platforms. system to sensor right the disparate reboot the built required console, why. We explain embedded no industry's or with AI weight, me from Let stitch siloed the lightest native single

built gracefully capabilities modules from and gold as and once platform [indiscernible] of a retrieve deliver plated architecture our true allows plumbing, is friction. This and the inception platform data with platform, the without to Our the with any definition Falcon data to security, continues results, XX% start, land, compliance IT, the refer I year-over-year. then what from grew to slight infinite strategy X-plus

unlocking is XX platform our can't to Our natively acquire greater characteristics individual a Falcon ability competitive than of by customer is industry the modules virtuous later. flywheel. technological solution or architecture as moat cybersecurity's Falcon better a combined sum The basis on modules around single leading yet and a adoption work are This platform, of into premier fix best-in-class consolidator. rated platform stand-alone built be applicable even creates analysts, together, our even parts. The platform's you differentiated value something

You must build from right start. the it

a consolidates the the alert more We now out Our compressing than utility delivers cybersecurity in evolving effective their before, time Through scales time. And the protection it's diverse secure to customer our The [indiscernible] hide-and-go-seek, their like and outcomes. into platform Charlotte AV delivers bloat stock spanning and unique extreme cost and a faster products, management, suite machine more AV real no ever days VLP, from alerting are hours and point across the fragments natively speeds, is Falcon ESPM responding UI AI, consolidation, cloud, gap Falcon CSPM, threat the they point remediation platforms minutes. the own delivers security no platform and more industry's multi-agent ability automatically the vision, attack AI customers and data, place console, stand platform experiencing faster detection architecture one There's SIEM, work The close levels, are with to intel with between hunting modules AI-powered service feeds, platform days following at beyond, services languages, at platform sources protection response endpoint and legacy data highest third-party and the platform and revolutionized. compliance, and separate supercharged, to and identity security silos. Through with more stitch next-gen response, customers ASPM, and native platform of data platform reality. consistently EDR. savings consolidation, is and vulnerability no management no savings, adopt, pseudo is attack device, shrinking Falcon in and no cost hours longer resolution cloud to realize. identity, seconds speed. our CWP, vendors across CIEM protection, management,

wasteful A left led features report The quantifies As consolidating for of platform IDC they many dollar fail and CrowdStrike Falcon depth long-time an $X our industry, expensive with Unfortunately, the curves cost outcomes. cost invested savings. are savings reverses adage point recognize learning promises, product extreme phenomenon, new organizations deliver to depth buying to end-to-end that cost a on curve. has Falcon every cybersecurity of Solutions, are the and defense in shelfware, ever-increasing recent customers

their is Our faster. Instead when purchase platform legal new and customers repositioning When platform who model. pedal CrowdStrike even model platform to X you came our $XXX Flex been or it developed business module We're ELAs, for what security. over of prices we utilization licensing us growing imply module, not you Flex represent and today need share you procurement million Falcon the want need, real to program, eliminating tomorrow wallet don't $X Falcon products deal products. subscription perceived delivers we've best Unlike Falcon what broader IDC's and platform Applying this analysis Falcon would for a away. In have new want quarters more utilize customer than buy cycles customers in customers on existing wasteful assisted give the while Flex use. when other in subscribed natural. Falcon of and value, want they to to recounting adoption. you module has it, to have consolidating for because asking the the spent would they value, outcome that the customers simplifying Flex is customers who since value. vendors our by The even for to adopt acquiring reclassifying, billion while have [indiscernible] ways the Falcon saving built enjoy the

seeing as problems. new and platform existing Now solve IP innovation cost consolidation, as data of we delivers broader Falcon the and customers. Through the are to tomorrow's cybersecurity with that savings well platform and extreme momentum indicative

CrowdStrike of forward. focus at Falcon game-changing allowed cybersecurity to This Cloud pace. Within has us ship Security consolidation Our keeps Suite. our products Bionic industry into innovating months our we integrated acquisition, of position lead rapid the to ASPM platform fully

recently, teams for CrowdStrike only anchor ability the usage. services. the what on our already Falcon sensor few findings, and request we help base. At mission-critical the for do Defender but among Falcon is past LogScale confidence cybersecurity validation encompassing the missing Cyber of console utilization cloud there's another real legacy job. With monoculture Over we in Falcon And teams market the ramp CIS' Falcon Defender Safety for Microsoft Microsoft And as positive. yet security also transform widespread IT their delivered their breaches. has all of OverWatch we're security all start platform as Board's have from Microsoft EX only Defender, help. major following their to customer for hunting an verification, of enough, deployed Microsoft V-Squared, secure and security SIEMs. on reduce sizes brought with using of beachfront months, Feedback we of protection from outpouring systems, with their of our threat been third-party enough Next-Gen feeding to for We licensing, a to using now estate have our received to into Review we a Microsoft Defender now reporting within our sensor layer decided Microsoft a more to is replace organizations not the organizations the via and organizations SIEM CISAs industry-leading breach Falcon programs. overwhelmingly saddled risk the services customer of utilizing customers, call products security well crisis dropping stop request on to help delivered

multiplying Falcon. company health stood few X-figure breakneck is care and using from market at A on for the the continues innovation a on Thousands are There Microsoft Fortune the consolidate platform. the reasons organizations pace of a who consolidating in Falcon a quarter. experienced that breach. out are deal to Our XXX

and IR team promotional Charlotte in Next-Gen Cloud fanfare. than and This sensors SIEM immediately keeping Falcon days, Falcon out Complete this of AI. deployed business vendor LogScale business adversary, Security, more XX,XXX the industry-leading importantly, Our stopping adopted Identity, customer restarting

X-plus In our platform's platform, management in reduction outcome cycle. deal incidents Microsoft power XXX% X-figure to AI were XX% cloud defenses. customer improvement the large not possible. A way, and consolidating to times and security triage regional taking a thought hadn't that security from SIEM, vendor. a addition provider they Middle utilities in experiences mean identity, outcomes and to vulnerability Falcon time months in CrowdStrike point experienced they with The along cybersecurity SIEM-X. products, down Eastern hours vendor the a vendors able move using vendors minutes. adopted displacing preventable off respond to in many average more We were this one by also agent endpoint, the legacy deal to but the X than These agent customer and TCO, this for incidents breach, a endpoint footprint detect lower stopped to their single only alert consolidating and removing the each a consolidation their Falcon during short down and few X Standardizing Next-Gen just now product

headquartered successfully deal, and just legacy X-figure a IT the existing use taking Falcon provider. vulnerability security. and additional illustrates focus they their multinational on deal a management Japan expansion beyond eliminated on vendor cases services opportunity to This Lastly, to cybersecurity the acquiring consolidate modules, a AV consolidate customers customer X solving in our TM, inspired CrowdStrike on further in

a a consolidation consolidation. IT and We turn data key have the deals for These and It's console platform, we our fastest-growing to MDR on not consolidating migrating MSSP announced and migrate on embraced a Mandiant partners, Defense of own in is highlight teams that's inside to RSA million its migrate Consolidation isn't and coming that cybersecurity with selected better, large need our phenomenon by our the products. In services and to the the are CrowdStrike for example other natural substandard the faster leadership Carbon focus and too. In customers point and deprioritizing security Black an excess using gravity a their What of Managed platform, see of partners Falcon our eSentire, customers Mandiant cost-effective. a of on partners their on Mandiant channel other This developed It's to happening the Cloud the platform, is tempo on and an representing award-winning segments, industry-leading make as seeing customers deal choice transform expense hundreds and is point more go-to-market CrowdStrike. In technology ecosystem vendors large, mass, trading Falcon In also time, Google are expanded platform services customers. products on MDR well X-figure their opportunity PowerPoint to line consolidate industry-leading slide, at Falcon customers market AV off and of sensor nearly platform. one we're prospects an and the a and migrate it's depth cards end their best conference, legacy scale prioritized vendors. as with a to partnership single alike. head trust count to Recognizing to legacy prime their a Falcon endpoints. to consolidation with the platform. CrowdStrike. just as customers delivered on us at deliver single X.X off business, priority single our multi-platform MSSP our and and

the end partners their and a on from consolidating and the Our delivered to doing vendors, focus increasing having power with are point driver and other their anecdotal both a right to of top and the time, key consolidation, Falcon. geo right declining they're growing also their market on single platform customers consolidate instead on away XX every us in vendors. The feature at platform. telling Partners business are right technology technologies representing efforts less results our requires less

hyper-growth deliver to investments in and record solution Our continue market-leading results. capabilities businesses

platform member, identity revolution of Cloud that operationalizing technologies. The way as is Every to with is know every AI security, transformation nature the company speak company. of built utilization few Next-Gen or is by color AI that I safely is in AI This experimenting is integrating in several innovation unprecedented AI the is Today, at for happening past reaching quickly into as speed Board with SIEM an AI using CIO becoming natively quarters. only We private well highs. areas. AI and of is AI with AI this AI the QX technology clouds. is operates our security and building LogScale Here's CISO, new with and CrowdStrike. cloud ways. best-in-class existing largely driven and cloud models, foundational all on The the harness transformative and transformative, public scale AI is through and protection

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lighthouse is example. Here a

nature One their of consolidate multiple the and world's security Falcon standardizing point In products adoption Falcon the leading platform of Falcon release, the security. their extolled our grew press and an public unified on customer ability hyperscalers partner X-figure this security a on in the of to cloud security deal. platform, cloud cloud

the other response our secure CrowdStrike vision like cloud cloud visibility that path has the real-time spans our integrated rises as runs. and and which in infrastructure vendors features side offering market wins the API-based the apart and scanning us cloud Our security is detection runtime consumption. to cloud customer to on centric go-to-market embracing focus sets most protection, where recently attack analysis, market cloud ASPM application Cloud joint and evolved everything to code focuses Falcon security CVR, enable that on on solution only partnership above Driving

acquisition garden has adding Security securing cloud Cloud the competitive Our the largest of our only decacorns data of and one legacy motion. a the in furthers market. Falcon vendors surpassed industry's rest at and security in moat, Flow runtime as both unicorns, of in businesses DSPM, latest

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identity Our be the on continues agent protection module solution the competitive us to only market, giving single major advantage. a

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the foot the I'm excited the opportunity of of is shortage and to zones. CrowdStrike LogScale immediate the disrupt SIEM QRadar, are we their SIEM the naturally more this their business. environment run moves areas AI and market legacy representing of SIEM, cost-effective than certainly SIM activity market in to Each stock impacting consolidate Exabeam of consolidation SIEM Splunk of going the is create are is In into and SIEM placed of new, There's past demand future and Organizations era. With happened the ways recently, in all chart few One Next-Gen choices than with the wake of LogScale months in actioning for over because more right. classically today's first-party decades. and XX% questioning all market. customers. consolidation, iconic platform, in data and better more consolidation Falcon these ingesting, already the already This natively about is where our space no more M&A the Next-Gen is visualizing our a activity solution SIEM for most the in data looking our CrowdStrike

their flag flying. vendors legacy acquiring technology, must and way buy into our other firmly this While is already market, planted

minds of the migrations and traps. goal and ELAs, Our is technology superior win to customers through outcomes, and forced hearts not

why Here's winning. we're

right the technology. have We

of biggest the most challenges and solves SIEM SIEM of resides X Our Next-Gen the and in data CrowdStrike immediately transportation requiring cost costly one costs, ingestion storage X configuration. natively data. X platform,

We to ingest providing is data easy workbench, like before. never XDR seen the visualization Once have curated sources. benefit in also made on users our from promises the the platform, alert from data incident of it third-party head-turning delivering

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large. for proxy a at is cybersecurity ecosystem market Our the

portfolio actions all custom Falcon X,XXX industry specific is SOAR ever automate is experiences Fusion and XXX we used than automated top closely before. third-party the have to With campaign-specific and enriched across alert collaborated once through And playbooks more bringing by data For of the events as as with start-ups Fusion actions. To our to SOAR across specific, Next-Gen illustrating billion broader cybersecurity products. from platform in than attack stalwarts native and faster a easier XX% workflows, AI gesture, platform Charlotte processing kinds and weekly years, the signals with more in data our connectors in, created response log SIEM coupled well cybersecurity the surface IT with than date, Falcon of are market. Falcon is XXX,XXX into and we've in of ISVs hundreds generic customers vendor-specific Fund innovators

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and partners. as governance, SIEM System CrowdStrike Today's where practices. SIEM by movement SIEMs is HCLTech Next-Gen well SIEM dashboard Partners EY, creation movement, like managed data services. CrowdStrike puck of installed, partners configured, response to managed integrators and These the their were as the SIEM choice. approached Next-Gen as specific automation Builder and Deloitte, Net going well build like data leading oftentimes configuration have platform practices their see as as are with span

conglomerate, example we system Next-Gen deal. SIEM sources XXX,XXX as a to as manufacturing faster were successfully than well well XXXX for to delivering the ongoing Splunk LogScale Here's longer of Together more in noteworthy migrate consolidation customer with The an as and an with outcome Falcon machine swiftly win. times. employees left Global Accenture, savings platform, of able and and SIEM numerous data alert as the response management cost data retention X-figure

nature driven content, also the and frustration innovation of are platform and SIEM right technology these secular with each the both but to have legacy flight. and the consolidation SIEM the innovative businesses, transform identity market our our cloud platform, our new native products of expectation for now. hypergrowth the exceeding Demand the gravity technology, quickly of data happening by Outside factors partners, the is and market, areas Next-Gen We it's incumbents. taking customers

logging becoming we scratched into are little customers the quarter, protection these which to We disaster products time manage. Data DSPM coupled secure anything several deploy win protection back increasingly Fortune more consolidation ability as is of laying data. components many First, back Data natively indicative market. sold development, to AI at than the of groundwork the are Flow's hundred important than data multibillion Falcon hyper-growth to data delivering remains XXXX taking of protection, accounts with to with our a we the itch to data our 'XXs. startup. the the delivering model And important another new results fever in a because compliance a AI protection. module for Frustration a more for adjacent or as want necessities pitch akin legacy a for and with recovery DLP without customers well. machine In

a for Falcon patching products to Falcon shipping eager this real ago. And wants easier, X their and endpoint productive. desire productivity CISO from from more exceeding a conversational see the Organizations Every module to sensor. platform IT. to faster. the expectations. little already is deliver a quarter figures cybersecurity the management device than cybersecurity lastly, are Charlotte to move gains is very multiply away their the cybersecurity Next, search, AI, health Falcon deployment, and add-on the pronounced is pipeline enterprise looking more, creates. instant since The point be our and logical and every to It's CISO making become more are benefits all The and our in outcomes of same employees

differentiators. and from customers tomorrow. of our areas another we're customers While XX% each in these innovation is young as Charlotte reflecting the being path solutions technologies prospects, confidence for competitive right AI. on for close excitement for Falcon CrowdStrike's today and and to close the engine partners Despite still us consolidator these early, Falcon and growth drivers cybersecurities meaningful feedback POV platform just to rate be is in nest, have reason the show why

stopping breaches. is CrowdStrike consolidation the about platform's delivering most impact excited I'm of The closing, Falcon the market. in and importantly, business we're results signal driving the In

engagements to [indiscernible] industry's Falcon months, of our the breaches, use to thousands often incident to XX industry-leading as CrowdStrike respond partner convert our responders incident in response customers. network new net past the authority. Over Falcon These

announcing the a technological the like tenacity very the Falcon focused the Delivering the reflection we're of in today a team also and superiority passion, of platform, is cybersecurity. best mission the but from not QX one of strong only the

CrowdStrike pride war designation. ongoing, talent Many Best the Place While Work take career to in is destination. great remains a vendors

to like Work. to figure that dimensionalizing a CrowdStrike Place very is cybersecurity as to point I'd Best

figures me to career. professionals every that past low, XXX,XXX build send to the we for CrowdStrike X a decided venue decided ideal acceptance acceptance quarters, who institution. is want to of that received that These hiring CrowdStrike than these professionals CrowdStrike. cybersecurity partners, would a the to and innovate ahead clear the into the and to ample to Thank course, we cybersecurity to Burt best large, you. talent builds to customers, very to the revolutionize, the financial a more the market well prospect, us to best our community It's our message year have CrowdStrikers, the be Over single-digit individuals, and of very now rate individuals from low League at consolidate and, this updates. runway work future. I'll In applications than for Ivy one this lower over thousands of rate like turn call the the

Burt Podbere

Thank and you, good everyone. George, afternoon,

mentioned As unless reminder, today otherwise remarks noted, revenue all a quick numbers, my non-GAAP. except are during

start driving are to to and prioritize customers as Falcon platform wallet include driven platform, bigger their by we year, fiscal delivered around reporting exceptional Additionally, the minimis Flow on was increased de revenue budgets consolidation increased results and ARR. CrowdStrike strong during adoption, acquisition deals the the today an of execution Security, which share. closed the the cybersecurity quarter and and

year-over-year, QX, business $XXX profitably new achieved up million up of demonstrated heights. In We track a was the over ending we execution, XX% to XX% ARR the net new record last year. Demand bringing broad-based platform. billion, in $X.XX across consistent of have to the scaling ARR quarter

rates with and quarter, consistent QX we pipeline. built a the win strong Our record prior remained

CrowdStrike's respectively, unique X or number identity modules, of ability evidenced or than more modules, modules, embracing deals bigger strategy by vendors Falcon and platform's consolidate customers the Falcon customers, Next-Gen or than more with quarter. grew more which grew XX% the success doubled of XX% and along year-over-year. the of as platform Customers subscription X, ever drove over last program the of X to year. Subscription deals the cloud, number QX are XX involving our more SIEM and in deals discussed, consolidation with to FalconFlex X of early George multiple As with

Additionally, consistent with our our well and retention dollar-based with were retaining and expanding landing, executing as rates gross customers. across expectations net our we are

XX% XX% accelerated from the reach growth representing gross optimization year The QX XX% total Record U.S. P&L. data in revenue XX% of year-over-year international XX% last gross XX% investments Moving growth. grew to to from points mix $XXX.X workload the a center quarter increased margin and geographies. Record year approximately the revenue points reach $XX.X basis services first increased Total year, driven prior consistent basis and by of over of over million. Professional last of XX% revenue Subscription consisted was to million pricing revenue $XXX.X QX by year-over-year. environment. to over margin million. of XX and of XX subscription geographic

quarter compared the $XXX.X in or to the of expenses revenue of XX% XX% first million in year. were operating non-GAAP Total prior revenue

record of to over free of Rule last increasing equivalents on $X.XX of up and to flow cash income a of by quarter, year-over-year head cash $XXX.X to in significantly and per or us. diluted operating to reach a our reach planned, income QX million of million, grew to $XX in by hiring, ending share year. the growing grew Cash year delivered in basis. GAAP margin revenue increased record ahead total $X.XX XX% we million capture business to XX% $XXX.X $XX.X scaling billion massive invest a grew Non-GAAP grew to we on attributable increased a XX%. We, opportunities year-over-year XX% QX grew flow as once net million In last to over the cash non-GAAP count and CrowdStrike again, ARR and points X QX, pace $XXX.X achieve of As reach operating the first or XX% to profitability, which percentage year-over-year basis. a XX free billion

move like notes. I outlook, few provide a to our Before modeling to I'd

by across start fiscal First, encouraged strong we pleased momentum to by see are the year. and execution we our the the business

and the challenging, While deal program remains driving with Falcon gravity larger the record pipeline platform sizes, win for consistently capabilities platform, and of are coupled data environment unique our the FalconFlex levels macro the strong of year. rates

With a we approach continue remains challenging. that and in maintain outlook our a assumptions prudent to mind, macro consistent that to environment and amid

digits, for did quarter new fiscal we second year-over-year to guide are net least While assumptions teens. ARR ARR, double specifically year our new to net not the at the the low up of growth

revenue to of flow fiscal seasonality the XXXX for XX% last cash and And of similar QX QX second, XX% to margin are target year. full maintaining we our free year to expect

outlook. to our Moving

total of $XXX.X we quarter million rate second growth reflecting of year-over-year revenue the a $XXX.X FY in of to to range the XX%. be million 'XX, For expect

million of We $XXX.X range $XXX.X attributable income $XXX.X million, net to be and to in non-GAAP CrowdStrike be expect to the in to range non-GAAP the of from income million. million operations to $XXX.X

We share million expect be to approximately a XXX on per diluted CrowdStrike attributable approximately weighted shares diluted net $X.XX, non-GAAP count $X.XX income basis. utilizing to a of average to share

to rate full range the be We to guidance currently million, for the fiscal of revenue fiscal year. prior are XXXX. of raising XX% XX% We $XXXX.X in a total expect reflecting growth over million our $X,XXX.X year to the

$XXX.X is $XXX.X million to Non-GAAP income and be from between million. operations expected

non-GAAP million. million $X.XX million income $XXX.X non-GAAP to We expect be XXXX to net and be weighted $X.XX. range to fiscal Utilizing the net shares of between per diluted $X,XXX attributable attributable approximately we to income on a share CrowdStrike XXX CrowdStrike in average expect basis, to

questions. your take now will I and George

Operator

Fargo. of And Instructions] Wells the line our [Operator Andrew question Nowinski comes first with from

Andrew Nowinski

And up in congrats tough your results pretty every quarter, a amazing one this has peers on put another of environment quarter. particularly mediocre single where

like job offering, really you QRadar. so focused cloud the interesting So have many SIEM advantages the It seems and question And on identity on in out. the nice with my and been lot has going you've a done SIEM like it think But now clearly Splunk a will stay things which general SIEM. I building revitalized. market of over has legacy vendors and

SIEM thinking with the Splunk which you -- of about are shared are what displacements, you how in your terms solution seeing owners? QRadar of potential wondering, are some obviously the are And and the I'm largest opportunity forward? what So going

George Kurtz

Andy. Thanks,

we've partnerships look said factors have adoption So in year at last I've a in my M&A this and the as the more the like market, movement in than seen prepared think remarks, market, of And and and of the a contributed when in years. various lot our technology. play we really interest to broad XX I various

comes what and for we've XX% goes done a endpoints about period of data the we've what themselves. talked into of some from XX%, time, at look you SIEM the If that

type really gives So one now the are we've built that's enabled. I want of Next-Gen our into of data us reinforce things of customers our platform customers enabled SIEM gravity. of this got for all and natively having to our And all capability now

And movement current Now it Next-Gen have. marketplace, their customers. given out to and sales completely the to them got dissatisfied motion also with into customers reaching they a vendors the in data a becomes convert we've be with many, SIEM the able many leveraging in already interested integrated solution

innovations antiquated multiyear we're with given we a for this the what disruption. for of space have. us think is to many that's opportunity massive, in in opportunity data right we doing it's a one driving, very journey we and massive us. particularly and going the AI the be for we're And a and space think So

Operator

Saket from comes Kalia Barclays. it And with

Unknown Analyst

that and you. intra-quarter cloud George, thought how CrowdStrike maybe the I relationship course, of the past. maybe publicly win you've customer about And you as partner dig them AWS a that talked in expanded particularly Can into interesting. announced security. around you've just key was you for for

referenced flesh a prepared but little a apart could that's that the security in CrowdStrike how you competitively cloud bit? setting on it you And market? think maybe I out little remarks, maybe in also your bit touch

George Kurtz

to Sure. And in about talked management, incredible in entitle capabilities when offerings, cetera. past, of between, portfolio our et look and cloud from we've an as cloud we've built agent-agentless whether the everything code we that's at

it's the offerings think built our really for what of have I we've So and reflective that advantages our technological customers.

giving again, have for to opportunity be the FalconFlex cloud the at customers the we're reflective someone to best more of want And in believe with relationship more it. This continue looking deal. they it's buy obviously fact to there. I and they're also that market, look we our able And and AWS, expand fantastic the do you we like When this. to to do them to want a think, to us, was technology

And X we're Best Security won by fact, up SC while another Solution call, followed we actually second, award by wins. just in another Cloud Europe the on

it, So we've from best the how starts best started And and we've say the company. you've technology for on heard highlight I to built able what together. able to what stitched deliver really can't wins these think and architecture, since do many be been been we've as the me years, I said I've the beginning, it and

Operator

from Brian of Essex with And line JPMorgan. the is

Brian Essex

solutions emerging products kind if they're Congrats of from I with about onto platform. the are set LogScale a platform broadly the in George, was whether the me referenced emerging or on think of quarter, often of own IP-able some leading wondering platform. meaningful solutions, you you on or And their last that scale, cloud emerging are you it's kind could as How and products in segments becoming -- that pulling right. those or last nice well talk year, leading maybe of individual now the results. you just I versus that each identity with of they're

want sense of maybe the there. might a changing how get Just to go-to-market be

George Kurtz

mean, we Yes, I focus leading use a platform. think And the question, for good with question. but which in platform, maybe have we're heart it's the your the to in on I of general, cases various is

what and us. want says have SIEM using legacy same We We're something says, "Hey, a have We So can legacy customer the better". that SIEM. we want a thing. to prospect we're a that to offer and us we Right. explore CrowdStrike may may new using comes

"Hey, the that say, what have not doesn't capabilities". of spectrum or our and come a have in give we solution of We new because cloud working full we to us need plenty is better customers us

-- solve they that selling land times customer's of platform. use can a the something value And So need lot they're with to we're looking that of course, to the immediately. for And we specific of case. something that's

they the in in whether but of or solving the their and a place consolidating cases So use customer have legacy. value and obviously we're of terms future the one, it's existing platform new focused delivering on full an today into what on

value cost. the some more incredible of lower a delivering stats at heard and You

Operator

from comes with it America. And Bank line Tal Liani of the of

Tal Liani

questions. Two

went driver First is, previous up that's increase increase what's this? compensation? talk on and about the XX%, of material back that's from year. last And SBC XX% you the stock-based quarters. a Can for

on The second, does and in for others the is can pricing -- component is fact solutions then platform coming pricing results. it the who pricing components. are pricing point And Can down. going that mean more your sales, talk driving and environment? so for result you those coming because selling in bundle more that But about up individual you total does platform, The you are it down?

Burt Podbere

you hear can me. Thanks Tal. Hopefully,

Tal Liani

can hear you. I Can you me? hear

Burt Podbere

hear you. can Thanks. I Yes,

SBC. about talk let's So

itself you doesn't first, or until into I dilution about really get tell you SBC EPS. I think whole about lot look at So SBC, think right? as a of dilution, you and in until

and times, we're So at many that's our -- as for for X% us, our year, the . I've of around dilution, within stated terms well expectations. looking in

X point results, people pricing a console. with us all for the those is environment, for of people us -- can to platform, in combined terms environment solutions, by to see ourselves. -- what that In you impacts And X are we're agent, pricing when those us consistent want consolidate things want our Those X single go things are win. are making together, how actually single the to area where single the -- it other

given XX pricing fact platform, environment, single advantage to about that think I I think the an modules our the given choose as from. about have So crowd to we

Operator

Stanley. Hamza Morgan it Fooderwala from with And is

Hamza Fodderwala

the conversation to department federal in year public start trending of mentioned very some looking curious remarks. fed? solid how article Microsoft, are you CrowdStrike? I'm about prepared that the to ahead George, spoke is bit an really And There their And fiscal particularly those a was sector. year. at looking agencies pipeline with September who closing how broaden a of vendors your the going is month and results last security about which state little strong you the beyond

George Kurtz

over cycles areas. the continue organizations federal challenges of the sector happened for them, the plague we from Well, to government. mostly public years seen in market, when our and buying third momentum obviously, Many to continue quarter about those maintain of we've gain the the outside in think we the that momentum the but

look importance, at that's we you these governments think in when we given opportunities. cybersecurities released meaningful the budget into part being can And those play a additional

in massive our think, perspective, think the at from now continue a deliver to and if for Next-Gen opportunity federal SIEM, And there's we space our products. we So you technologies. gain look I

Operator

from Matt Hedberg of it RBC. And the is line with

Matthew Hedberg

your are AI, you close think doing had XX% in customer's early, question still of a offer application? one congrats with I platform, a -- environment, I the software had said for a spirit landscape. AI you. words, to success wondering, guess as they but does well. production journey? things other really the a potentially GenAI we're journey, it's your it you up speed cycles to that, rates difficult hear. AI, know is broader my selling well. POV maybe customers seeing broader GenAI time Charlotte could for GenAI customer's that Charlotte I In guys adopt George, The I the Obviously, are slow I deal of great faster for as software is hearing you down specifically overall I'm more

George Kurtz

Yes.

and developed it that or talked think many hours in. wisdom I And their are really we of but the knowledge drive Falcon Fusion built CrowdStrike we're answer has workload the minutes. technology operational questions seeing only turn not years, what into over the can take with collective We about customers that automation. is also fact mundane for work their the and embracing reduce We stock that analysts. can front

And Awards they awards, So I a and how for when automation time we other save think won technology. them. won we into Best we for mentioned, AI can and specific while how to can on at we've AI-native SoC, AI overall, as drive And actually is we SC category built important this I we the an look a few what think I it's fantastic Charlotte. call, were really

of customers delivering technology in and promises, this our So hands is the we're on today. real

Operator

with From Fatima Boolani Citi.

Fatima Boolani

just ask question George, high-level a the billion regards with to $XX I'm very ARR going target. to you

feel a very velocity your -- confidence anticipate wanted a there's and of be relative to ask help lot it to I in outcome. you specifically that like But why that's with of reasons reaffirmed you've attaining likely going very a will of it, reemphasized what you bogey. sort do You've lot

would have product. versus X be frame go shortage no appreciate of I X put a to years So And really appreciating realized haven't on it. that outcome within years, that can what frankly, you to right time for there's

kind -- But you much love the platform could momentum say target? You've that velocity to what seen your of that, lot that get in shared. so FalconFlex and change dare of platformization that on would relative perspective your ARR anecdotes, I anecdotes to a

George Kurtz

Sure.

and wants and think our X for call, you bigger, there's see then to FalconFlex. there, FalconFlex, buying think using buying chime changer we I is probably Burt customers, see about talked in. lot points consolidate, leveraging platform I'll at the game I ability the and a When more, if velocity to look key I in a of of adoption

So to really and going about mean CrowdStrike. what that it's for excited

in. again, about I Next-Gen built piece natively SIEM is my second The as talked that in is, prepared remarks

So us than we a goes market generated already and the the for platform that complexity in the data data all to rather that's massive for cases SIEM that for the around and of customers, opportunity. the transport out sending and meaningful is choice else opportunity paying see of use costs into somewhere being and a that, bulk the

And more things or data protection. to around for for technology talked got that drivers all legacy. are That security do of than industry other the then definition like on ripe a And with growth. for IT, that's combine fantastic that. is product other about single-agent that? architecture it disruption. leveraging just these I we've an It's meaningful Falcon the and Any comments, Burt,

Burt Podbere

Yes. Thanks, George.

$XX of in terms give time billion. illustrative X around of being frame, get the we TAM. billion billion billion. about talked about billion. SIEM $X billion things So example was And with that being We $X.X We that in of $X to about identity being about talked Next-Gen in We talked same $X.X cloud $X.X to $X to billion talked about years. some the that just X, than one number that, of what will things talked we Falcon the George us other at along an ARR

being . about So you get more number. That's to numbers and we start in internally. it adding of more and confidence that how think terms you attain up able those

Operator

Goldman with And Gabriela Sachs. Borges from it is

Gabriela Borges

that the acceleration it, pause that's be an seeing maybe between To you you up us touch And could or protecting, part on extent George planning scenarios in versus you LLM? the your of to securities to and classic in on LLM, differences understand if you cloud technical may an when on, one does AI in And a plans? projects, talk George, call budget? out or they that, budget impact are of questions I follow workload Generative more a Burt, how of specifically, what AI. to connecting a workload just where type running start wanted earlier the customers, maybe the help seeing and as cloud

George Kurtz

Sure.

talked the the thought now the about months, by see think opportunity growing. And right? researchers. underrepresented number look has been was AI announcements And of new some we going last a So opportunity. market new of NVIDIA. A how of of hardware when about that years And cloud proliferation we we the We X hardware, lot that with much over workloads. just the towards at generative the is X you've ago, procured seen to

that These secured come and workloads given opportunity needs continue misconfigured which a that do and our be not to only be and huge built what be the prevention under fact I tell attack. will something think, really workload consistently hallmark it's we is we've to but of real for capabilities providing we into at what workloads, CrowdStrike, you a may CrowdStrike, what protection be, can these is cloud

on adapted years And us, be workloads protecting into would way workloads many a run spent many, look additional need protected. providing we've how that as huge protecting AI we've they it, how cloud So I for at opportunity those that's the and and and to Gen information workloads.

future. us the opportunity a in big and So today for

Operator

from And Henderson it is Alex with Needham.

Alex Henderson

an a here had struggling. You and people are where an in outstanding guys environment quarter lot of

determined hoping what their to seeing C-suite-type is of wondering of people, security causing including it they're aren't. spend short causing alternatively, going And -- and doing know and you're you're you're other it CEOs, players. going what some you are how what they're share the if term? spend to what a was challenges many slowdown in to money I AI a little figuring what from other to So but as to on to reticence away they I'm is about out function I CISOs, if their to some well, is things, is Or and shifting macro? the decision-making process? bit look talking a you're and talking talk you implement of gaining Or they're some could extent that's results at in that's

exactly is now the what So going decision-making process? right on field the with in

George Kurtz

Sure. money about the and prepared customers and CrowdStrike. mentioned, Well, I And the save is results we're in that the is seen, talked that seeing consolidate remarks on think platform macro what we've is the that environment. technologies are it's But at working. as delivering looking and challenging to time, us from same consolidation fact Burt the we still you're a Alex,

more providing think, putting interesting taking it. are That's that they and consolidating our that. of around We we with vendors. it customers CrowdStrike share they're gave wallet for some, and simple and And have, spend of other that stats other really from the version I you

a you think of what with We've offerings, is reduce their and partner think got we costs. And to delivered. ability we the which got put you it we've is can together, when we successful. all technology for you've right value challenging. right long be the it's saw the I solution if network, massive reflective very a time right the us. got saying we've quarter what We've just yes, the But that delivering And been got for

Operator

John comes line And from it Securities. DiFucci of with the Guggenheim

John DiFucci

spending haven't you just from anyone expanded what's talking early you of this George, couple especially described market years, and we think your of team been definition We how and seen in I'm understand I numbers. last over So you the a as environment, put the a the address. and IT on consistency quarter, have the scope challenging about

of the similar you and can year, this to it of or thought influence broadening the for that doesn't of get would a pull need Is better, something people to same, you like you? sizes. backdrop did numbers are at your impressive the put But remains all Or it you up year. to lot of also in continue for have? other there market that And the same the the more of at it beginning to customers recently, if levers least more the rest

George Kurtz

Sure.

So John. thanks,

and which right team, I and said rest and the our If the think more you value I and solve -- right. delivering focus and to on cases consistency technology we can of the customers. it use I FalconFlex, going Burt we're importantly, We provide listen customers. was an to which of drive talked I at to continue for our look them, listening if excited That really about, results you to and is outcome to know us.

worked way putting on it, they the together. procurement actually they friction that reducing several customers the it, Buying in cycle. want We it, with how want

So And focus that's rest on. think with, and care what you on what of CrowdStrike and to that's, and the of try take we're care again, at we every going if I a the we of Burt focused leave to day. I hallmark what I'll do customer, takes are itself,

Operator

to pass Kurtz With will And I and for Q&A session, it that, back comments. conclude the thank you. his George we'll final

George Kurtz

and Thank Be look quarter. call, you . we you much safe. seeing joining for to next our so forward

Operator

thank you, for everyone, And joining.

disconnect. now may You

CrowdStrike (CRWD) 4 Jun 242025 Q1 Earnings call transcript