Summary
- CrowdStrike published revenue growth of 32%, free cash flow margin of 28%, achieving a Rule of 60 on a free cash flow basis.
- Guidance was revised down as expected, and the extent to which it was guided down was better than expected, alleviating fears of a more severe impact from the incident.
- Near-term temporary headwinds include extended sales cycles, more flexible payment terms, impact from customer commitment packages, but the long-term targets were once again reiterated.
- Customer conversations show that customers still see CrowdStrike as their top consolidation partner, and retention ratios continue to be strong even after the incident.
- CrowdStrike is seeding long-term partnerships with customers through the customer commitment packages, which provides customers affected by the incident with more flexible terms, discounts, amongst others.
Robert Way
CrowdStrike (NASDAQ:CRWD) had one of the most challenging periods as a publicly listed company after the July 19 outage.
In my previous CrowdStrike article, which can be found here, this was before the July 19 outage, but I
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