CrowdStrike Reports Strong Fourth Quarter and Fiscal Year 2024 Results

Key Financial Highlights

• Non-GAAP net income attributable to CrowdStrike was $236.2 million, compared to $111.6 million in the fourth quarter of fiscal 2023, representing a 112% increase.
• Ending ARR grew 34% year-over-year to reach $3.44 billion.
• Net new ARR growth accelerated to 27% year-over-year and reached a record.
• Achieved record revenue, GAAP and non-GAAP earnings, cash flow from operations, and free cash flow.
• Ending ARR grew 42% year-over-year to $3.75 billion in fiscal 2024.

Business Highlights

• Expanded leadership position in cloud-native security with the acquisition of Humio.
• Launched the CrowdStrike Falcon XDR platform, which unifies endpoint, cloud, identity, and workload protection.
• Grew customer base to over 19,000 organizations globally.
• Achieved a net retention rate of 125%, indicating strong customer satisfaction and loyalty.

Outlook

CrowdStrike expects to continue its strong growth trajectory in fiscal 2025.

The company projects revenue to be in the range of $2.35 billion to $2.37 billion, representing growth of 20% to 21% year-over-year.

CrowdStrike also expects non-GAAP net income to be in the range of $660 million to $680 million, representing growth of 24% to 27% year-over-year.

Analysts' Comments

Analysts are generally positive on CrowdStrike's results and outlook.

KeyBanc Capital Markets analyst Josh Beck said in a note to clients that CrowdStrike's "strong execution and continued innovation are driving market share gains."

Wells Fargo analyst Andrew Nowinski said that CrowdStrike's "leadership position in cloud-native security is a key differentiator and should continue to drive growth going forward."

Conclusion

CrowdStrike's strong fourth quarter and fiscal year 2024 results demonstrate the company's continued execution and leadership in the cybersecurity market.