CrowdStrike Files Q2 FY25 10-Q

TL;DR

**CRWD Q2 FY25 10-Q FILED: Check financials for latest cyber performance.**

AI Summary

CrowdStrike Holdings, Inc. filed its 10-Q for the period ending July 31, 2024. The filing covers the second quarter of fiscal year 2025. Key financial data and operational details for this period are presented, reflecting the company's performance in cybersecurity solutions.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for CrowdStrike, a major player in the cybersecurity market, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded technology company, CrowdStrike faces inherent market, competitive, and operational risks detailed in its SEC filings.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial results are reported.)
• 2024-08-29 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• CrowdStrike Holdings, Inc. (company) — Filer of the 10-Q
• 20240731 (date) — End of reporting period
• 20240829 (date) — Filing date
• 0001535527 (company) — CUSIP number for CrowdStrike Holdings, Inc.

FAQ

Key Financial Figures

• $0.0005 — stered Class A common stock, par value $0.0005 per share CRWD The Nasdaq Stock Market

Filing Documents

• crwd-20240731.htm (10-Q) — 1887KB
• outsidedirectorcompensatio.htm (EX-10.1) — 43KB
• crwd-20240731xexx311.htm (EX-31.1) — 10KB
• crwd-20240731xexx312.htm (EX-31.2) — 11KB
• crwd-20240731xexx321.htm (EX-32.1) — 8KB
• 0001535527-24-000020.txt ( ) — 8435KB
• crwd-20240731.xsd (EX-101.SCH) — 57KB
• crwd-20240731_cal.xml (EX-101.CAL) — 81KB
• crwd-20240731_def.xml (EX-101.DEF) — 281KB
• crwd-20240731_lab.xml (EX-101.LAB) — 757KB
• crwd-20240731_pre.xml (EX-101.PRE) — 502KB
• crwd-20240731_htm.xml (XML) — 1036KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of July 31, 2024 and January 31, 2024 6 Condensed Consolidated Statements of Operations for the Three and Six Months Ended July 31, 2024 and July 31, 2023 7 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended July 31, 2024 and July 31, 2023 8 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended July 31, 2024 and July 31, 2023 9 Condensed Consolidated Statements of Cash Flows for the Six Months Ended July 31, 2024 and July 31, 2023 11 Notes to Condensed Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 46

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 47 Item 2. Unregistered Shares of Equity Securities and Use of Proceeds 81 Item 3. Defaults Upon Senior Securities 81 Item 4. Mine Safety Disclosures 81 Item 5. Other Information 81 Item 6. Exhibits 81

Signatures

Signatures 83 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Securities Act of 1933, as amended (the "Securities Act"), the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "plan," "expect" and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the following: our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit or gross margin, operating expenses (including changes in sales and marketing, research and development, and general and administrative expenses), and our ability to achieve, and maintain, future profitability; market acceptance of our cloud platform; the effects of increased competition in our markets and our ability to compete effectively; our ability to maintain the security and availability of our cloud platform; our ability to maintain and expand our customer base, including by attracting new customers; our ability to develop new solutions, or enhancements to our existing solutions, and bring them to market in a timely manner; anticipated trends, growth rates and challenges in our business and in the markets in which we operate; our business plan and our ability to effectively manage our growth and associated in

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CrowdStrike Holdings, Inc. Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) July 31, January 31, 2024 2024 Assets Current assets: Cash and cash equivalents $ 4,038,536 $ 3,375,069 Short-term investments — 99,591 Accounts receivable, net of allowance for credit losses of $ 1.8 million and $ 2.2 million as of July 31, 2024 and January 31, 2024, respectively 661,045 853,105 Deferred contract acquisition costs, current 251,246 246,370 Prepaid expenses and other current assets 230,821 183,172 Total current assets 5,181,648 4,757,307 Strategic investments 58,246 56,244 Property and equipment, net 648,474 620,172 Operating lease right-of-use assets 45,897 48,211 Deferred contract acquisition costs, noncurrent 341,539 335,933 Goodwill 721,996 638,041 Intangible assets, net 115,686 114,518 Other long-term assets 88,988 76,094 Total assets $ 7,202,474 $ 6,646,520 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 21,067 $ 28,180 Accrued expenses 101,300 125,896 Accrued payroll and benefits 205,429 234,624 Operating lease liabilities, current 17,031 14,150 Deferred revenue 2,348,464 2,270,757 Other current liabilities 35,028 23,672 Total current liabilities 2,728,319 2,697,279 Long-term debt 743,238 742,494 Deferred revenue, noncurrent 744,733 783,342 Operating lease liabilities, noncurrent 31,704 36,230 Other liabilities, noncurrent 63,890 50,086 Total liabilities 4,311,884 4,309,431 Commitments and contingencies (Note 8) Stockholders' Equity Preferred stock, $ 0.0005 par value; 100,000 shares authorized as of July 31, 2024 and January 31, 2024; no shares issued and outstanding as of July 31, 2024 and January 31, 2024. — — Class A common stock, $ 0.0005 par value; 2,000,000 shares authorized as of July 31, 2024 and January 31, 2024; 232,698 shares and 229,380 shares issued and outstanding as of July 31, 2024 and January 31, 2024, respectivel

Business

Business CrowdStrike Holdings, Inc. (the "Company") was formed on November 7, 2011. The Company is a global cybersecurity leader that delivers cybersecurity's AI-native platform for the X

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View this 10-Q filing on SEC EDGAR