NASDAQ$CRWD

Crowdstrike Holdings · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Achieved record ARR and delivered positive cash flow.

CrowdStrike reported a strong fourth quarter and fiscal year 2020, with ARR reaching $600 million and positive cash flow from operations and free cash flow for the quarter and year.

  • Total revenue was $152.1 million, an 89% increase year-over-year.
  • ARR increased 92% year-over-year, reaching $600.5 million.
  • GAAP subscription gross margin was 75%, compared to 70% in the fourth quarter of fiscal 2019.
  • Free cash flow was positive $50.7 million, compared to negative $0.1 million in the fourth quarter of fiscal 2019.

Headline financials

Total Revenue

$152M

Previous: $80.5M+89.1%
EPS (adj)

-$0.02

Previous: -$0.18+89.0%
Annual Recurring Revenue

$601M

Previous: $0.00
Capital Expenditures

$13.4M

No prior period
Free Cash Flow

$50.7M

No prior period
Net Income

-$28.4M

Previous: -$31.3M+9.1%
Operating Income

-$31.1M

Previous: -$31.2M+0.3%
Gross Profit

$109M

Previous: $53.5M+103.3%
Cash & Equivalents

$265M

No prior period
Total Assets

$1.4B

No prior period
Stock-Based Comp

$24.4M

No prior period

Revenue & EPS history

Crowdstrike · Revenue · Quarterly

$152M

Q4 2020+89.1%vs Q4 2019
Beat estimate in 6 of 10 quarters(60%)
ActualEstimate

Revenue by segment

Crowdstrike · $152M total across 2 segments · Q4 2020

  • Subscription
    $139M+90.2%
  • Professional services
    $13.6M+78.0%

Forward guidance

CrowdStrike is providing the following guidance for the first quarter of fiscal 2021 (ending April 30, 2020) and guidance for fiscal year 2021 (ending January 31, 2021):

Tailwinds

  • Q1 FY21 Total revenue $164.3 - $167.6 million
  • Q1 FY21 Non-GAAP loss from operations $(16.2) - $(13.9) million
  • Q1 FY21 Non-GAAP net loss $(14.0) - $(11.7) million
  • Q1 FY21 Non-GAAP net loss per share, basic and diluted $(0.07) - $(0.06)
  • Q1 FY21 Weighted average shares used in computing non-GAAP net loss per share attributable to common stockholders, basic and diluted 211.3 million

Headwinds

  • Full Year FY21 Total revenue $723.3 - $733.5 million
  • Full Year FY21 Non-GAAP loss from operations $(37.1) - $(29.9) million
  • Full Year FY21 Non-GAAP net loss $(29.3) - $(22.1) million
  • Full Year FY21 Non-GAAP net loss per share, basic and diluted $(0.14) - $(0.10)
  • Full Year FY21 Weighted average shares used in computing non-GAAP net loss per share attributable to common stockholders, basic and diluted 212.5 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+2.6%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+6.7%

Avg return

30 days after

64%

18 / 28 earnings

Positive

+26.9%

Q4 2020

Best reaction

-15.6%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2027+6.1%-4.9%
Q4 2026+0.8%+10.9%+2.0%
Q3 2026+0.6%-0.3%-12.2%
Q2 2026+12.9%-2.2%+13.9%
Q1 2026+2.0%+3.0%-7.2%
Q4 2025-6.3%-20.8%-17.6%
Q3 2025-4.4%-4.9%+0.4%
Q2 2025+0.7%+2.8%+5.9%
Q1 2025+10.8%+13.1%+25.4%
Q4 2024+5.0%+2.9%-1.5%
Q3 2024+11.6%+11.9%+21.9%
Q2 2024+11.1%+9.9%+14.1%
Q1 2024-0.7%-2.8%-7.4%
Q4 2023+1.0%-6.2%+0.2%
Q3 2023-15.6%-11.1%-25.0%
Q2 2023-4.9%-10.2%-13.7%
Q1 2023+0.4%+9.4%+11.0%
Q4 2022+21.8%+16.8%+39.2%
Q2 2022-5.7%-2.8%-14.2%
Q1 2022-6.2%-2.5%+14.5%
Q4 2021+3.7%-3.0%+6.3%
Q3 2021+9.3%+15.7%+43.6%
Q2 2021-10.0%-12.9%-2.7%
Q1 2021+3.4%-1.0%+13.1%
Q4 2020+26.9%+48.4%+67.6%
Q3 2020-7.4%-13.5%-7.7%
Q2 2020-10.9%-16.0%-25.2%
Q1 2020+17.6%+22.2%+35.3%
Q4 2019
Q3 2018
Q2 2018
Q1 2018
Q4 2017

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