Seems like a good solid consistent quarter but shows a mild trend of deceleration (something for the market to have an opinion on I’m sure, but just a quick look). I guess I hoped for a bit of a blow-out excitement and instead I’m just content. This is a very quick look though. I look forward to the call in about 25min!
Q Q2'FY21 Q1'FY21 Q4'FY20 Q3'FY20 Q2'FY20 Ending Jul-20 Apr-20 Jan-20 Oct-19 Jul-19 Total revenues 199.0 178.1 152.1 125.1 108.1 Revenue growth 84.0% 85.3% 89.1% 88.5% 94.1% Gross profit 144.6* 131.2 108.7 87.8 76.5 Gross margin 72.7%* 73.7% 71.5% 70.1% 70.8%
*These values were not calculated by me. I only see the subscription gross margin (78%) at a glance, not this total one, but so far the source has been pretty good so I’ll post it and we can figure it out later.
September 2, 2020 at 4:05 PM EDT
Second Quarter Fiscal 2021 Financial Highlights
- Revenue: Total revenue was $199.0 million, an 84% increase, compared to $108.1 million in the second quarter of fiscal 2020. Subscription revenue was $184.3 million, an 89% increase, compared to $97.6 million in the second quarter of fiscal 2020.
- Annual Recurring Revenue (ARR) increased 87% year-over-year and grew to $790.6 million as of July 31, 2020, of which $104.5 million was net new ARR added in the quarter.
Subscription Gross Margin: GAAP subscription gross margin was 76%, compared to 74% in the second quarter of fiscal 2020. Non-GAAP subscription gross margin was 78%, compared to 76% in the second quarter of fiscal 2020.
- Income/Loss from Operations: GAAP loss from operations was $30.0 million, compared to $50.6 million in the second quarter of fiscal 2020. Non-GAAP income from operations was $7.8 million, compared to a loss of $20.6 million in the second quarter of fiscal 2020.
- Net Income/Loss: GAAP net loss was $29.9 million, compared to $51.9 million in the second quarter of fiscal 2020. GAAP net loss per share, basic and diluted, was $0.14, compared to $0.40 in the second quarter of fiscal 2020. Non-GAAP net income was $7.9 million, compared to a loss of $23.1 million in the second quarter of fiscal 2020. Non-GAAP net income per share, diluted, was $0.03, compared to a loss of $0.18 in the second quarter of fiscal 2020.
- Cash Flow: Net cash generated from operations was $55.0 million, compared to negative $6.2 million in the second quarter of fiscal 2020. Free cash flow was $32.4 million, compared to negative $29.2 million in the second quarter of fiscal 2020.
- Cash and Cash Equivalents increased to $1,065 million as of July 31, 2020.
- Added 969 net new subscription customers in the quarter for a total of 7,230 subscription customers as of July 31, 2020, representing 91% growth year-over-year.
- CrowdStrike’s subscription customers that have adopted four or more cloud modules increased to 57% and those with five or more cloud modules increased to 39% as of July 31, 2020.
- CrowdStrike was identified as the fastest-growing endpoint security software vendor in the IDC Worldwide Endpoint Security Software Market Shares, 2019 report.
- CrowdStrike, Netskope, Okta, Inc., and Proofpoint, Inc. announced they are coordinating to help organizations implement an integrated, zero trust security strategy. The companies will offer integrated solutions, advanced insights, and reference architectures, in addition to implementation best practices, accounting for end-user, device, network, and data security.
- Announced the addition of applications from Illumio, Obsidian Security, and SecurityAdvisor to the CrowdStrike Store.