Another interesting point that I realized from analyzing Crowdstrike’s 10-k, is that revenue growth for international customers grew 67%, which represents an acceleration from last year’s growth rate of 64%. Naturally, this caused the revenue proportion of international customers to nudge upwards from 28% to 30%.
It’s highly encouraging to see any sort of growth acceleration in this environment. This traction will become even more important as the market starts getting saturated domestically.
For comparison’s sake, SentinelOne also appears to be growing quite well internationally (125% YoY). However, although we don’t have enough historical data to assess their growth trajectory, I doubt that it is accelerating. Their revenue from Q1’22 to Q4’22 grew 82%; and 72% for Q1-23 to Q4-23. That said, this is certainly not an apples to apples comparison so take it with a grain of salt.
The key point for me is that this can serve as a nice little tailwind from Crowdstrike to maintain growth durability.
-RMTZP