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CrowdStrike fourth quarter and fiscal year 2022 financial results

By Ryan Morris-Reade
Thu 10 Mar 2022

Global cybersecurity company CrowdStrike has announced financial results for the fourth quarter and fiscal year 2022.

"CrowdStrike once again delivered an exceptional fourth quarter and capped off a record year, achieving new milestones across both the top and bottom line," says CrowdStrike co-founder and CEO, George Kurtz.

"Net new ARR of $217 million in the quarter was a new all-time high, driven by the expansion of our leadership in the core endpoint market as well as a record quarter for cloud, identity protection and Humio." 

He says customers are increasingly leveraging the breadth and depth of the Falcon platform as they look to transform their security stack.

Burt Podbere, CrowdStrike's chief financial officer, says, "The robust top-line growth and exceptional leverage we generated this year demonstrates the efficiency in our model and enables us to step-up investments in new technologies and international geographies. Our durable platform model and powerful innovation engine have translated into a differentiated offering in the market and strong momentum heading into the fiscal year 2023."

Fourth-quarter fiscal 2022 financial highlights include:

Revenue: Total revenue was $431.0 million, a 63% increase, compared to $264.9 million in the fourth quarter of fiscal 2021. Subscription revenue was $405.4 million, a 66% increase, compared to $244.7 million in the fourth quarter of fiscal 2021. Annual Recurring Revenue (ARR) increased 65% year-over-year and grew to $1.73 billion as of January 31, 2022, of which $216.9 million was net new ARR added in the quarter.

Subscription gross margin: GAAP subscription gross margin was 76%, compared to 78% in the fourth quarter of fiscal 2021. Non-GAAP subscription gross margin was 79%, compared to 80% in the fourth quarter of fiscal 2021.

Income/loss from operations: GAAP loss from operations was $23.5 million, compared to $15.8 million in the fourth quarter of fiscal 2021. Non-GAAP income from operations was $80.4 million, compared to $34.4 million in the fourth quarter of fiscal 2021.

Net income/loss: GAAP net loss was $42 million, compared to $19 million in the fourth quarter of fiscal 2021. GAAP net loss per share, basic and diluted, was $0.18, compared to $0.09 in the fourth quarter of fiscal 2021. Non-GAAP net income was $70.4 million, compared to $31.6 million in the fourth quarter of fiscal 2021. Non-GAAP net income per share, diluted, was $0.30, compared to $0.13 in the fourth quarter of fiscal 2021.

Cash flow: Net cash generated from operations was $159.7 million, compared to $114.5 million in the fourth quarter of fiscal 2021. Free cash flow was $127.3 million, compared to $97.4 million in the fourth quarter of fiscal 2021. Cash and cash equivalents were $2 billion as of January 31, 2022.

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