To The Moon

When $CrowdStrike Holdings, Inc.(CRWD)$ was <$100, nobody wanted to touch the stock b/c they couldn't compete with $Microsoft(MSFT)$ & $SentinelOne, Inc(S)$ is a better disruptor.

Now that $CrowdStrike Holdings, Inc.(CRWD)$ is ~$360, everybody wants it.

$CrowdStrike Holdings, Inc.(CRWD)$ just reported strong earnings and the stock is up 18% after hours.

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It is now up 137% since she bought back on 11/3/2020

Another $1M winner for the Pelosi portfolio

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$CrowdStrike Holdings, Inc.(CRWD)$ delivered an exceptional fourth quarter and fiscal year, exceeding expectations and achieving record results across various metrics, including net new ARR, operating margin, free cash flow, and GAAP profitability.

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Q4'23 Results:

• ↗️$845M rev (+32.6% YoY, +35.3% LQ) beat est by 0.7%

• ↗️GM* (78.2%, +2.8%pp YoY)

• ↗️Operating Margin* (25.2%, +10.2%pp YoY)

• ↗️FCF Margin (33.5%, +0.6%pp YoY)

• ↗️EPS* $0.95 beat est by 15.9%🟢

*non-GAAP

Key Metrics

• ➡️DBNR 119% (119% LQ)

• ↗️ARR $3.44B (+34.2% YoY, +282 net new ARR)🟢

• ↗️RPO $4.60B (+36.6% YoY)🟢

• ↗️Billings $1,356M (+38.8% YoY)🟢

Customer Engagement with Multiple Modules

• ↗️% of customers using 5+ Modules (64%, 63% LQ)

• ↗️% of customers using 6+ Modules (43%, 42% LQ)

• ↗️% of customers using 7+ Modules (27%, 26% LQ)

Operating expenses

• ↘️S&M*/Revenue 28.8% (30.9% LQ)

• ↘️R&D*/Revenue 18.0% (18.2% LQ)

• ↘️G&A*/Revenue 6.2% (6.4% LQ)

• ↗️Net New ARR $282M ($223 LQ)

• ↘️CAC* Payback Period 13.3 Months (16.0 LQ)

Dilution

• ↗️SBC/rev 21%, +0.5%pp QoQ

• ↗️Dilution at 2.5% YoY, +0.1%pp QoQ

Guidance

• ↗️Q1'24 $905.8M guide (+30.8% YoY) beat est by 0.7%

• ↗️$3,989M FY guide (+30.5% YoY) beat est by 1.2%