CrowdStrike Reports 103 Percent YoY Revenue

CrowdStrike (NASDAQ:CRWD), cybersecurity company announced its first quarter 2020 financial report. The company reported US$96.1 million in revenue, accelerating at a 103 percent uptick year-over-year. Operating loss for the company stood at US$25.8 million.

As quoted in the press release:

First Quarter Fiscal 2020 Financial Highlights

• Revenue: Total revenue was $96.1 million, a 103% increase, compared to $47.3 million in the first quarter of fiscal 2019. Subscription revenue was $86.0 million, a 116% increase, compared to $39.8 million in the first quarter of fiscal 2019.

• Annual Recurring Revenue (ARR) increased 114% year-over-year and grew to $364.6 million as of April 30, 2019.

• Subscription Gross Margin: GAAP subscription gross margin was 72%, compared to 62% in the first quarter of fiscal 2019. Non-GAAP subscription gross margin was 73%, compared to 62% in the first quarter of fiscal 2019.

• Loss from Operations: GAAP loss from operations was $25.8 million, compared to $33.1 million in the first quarter of fiscal 2019. Non-GAAP loss from operations was $21.9 million, compared to $31.2 million in the first quarter of fiscal 2019.

Click here to read the full press release.