CrowdStrike Reports Strong Annual Recurring Revenue in Second Quarter

CrowdStrike (NASDAQ:CRWD), cybersecurity firm principally engaged in endpoint detection announced a 104 percent uptick in its annual recurring revenue, with figures reaching US$423.8 million.  Over the quarter, the company reported a record number of new security subscriptions for its Falcon platform.

As quoted in the press release:

Second Quarter Fiscal 2020 Financial Highlights

• Revenue: Total revenue was $108.1 million, a 94% increase, compared to $55.7 million in the second quarter of fiscal 2019. Subscription revenue was $97.6 million, a 98% increase, compared to $49.2 million in the second quarter of fiscal 2019.

• Annual Recurring Revenue (ARR) increased 104% year-over-year and grew to $423.8 million as of July 31, 2019, of which $59.2 million was net new ARR added in the quarter.

• Subscription Gross Margin: GAAP subscription gross margin was 74%, compared to 70% in the second quarter of fiscal 2019. Non-GAAP subscription gross margin was 76%, compared to 71% in the second quarter of fiscal 2019.

• Loss from Operations: GAAP loss from operations was $50.6 million, compared to $30.4 million in the second quarter of fiscal 2019. Non-GAAP loss from operations was $20.6 million, compared to $28.0 million in the second quarter of fiscal 2019.

• Net Loss: GAAP net loss was $51.9 million, compared to $32.9 million in the second quarter of fiscal 2019. GAAP net loss per share was $0.40, compared to $0.75 in the second quarter of fiscal 2019. Non-GAAP net loss was $23.1 million, compared to $30.4 million in the second quarter of fiscal 2019. Non-GAAP net loss per share was $0.18, compared to $0.69 in the second quarter of fiscal 2019.

Click here to read the full press release.