CrowdStrike Holdings Inc. (NASDAQ: CRWD) reported Q4 EPS of $0.13, $0.05 better than the analyst estimate of $0.08. Revenue for the quarter came in at $264.9 million versus the consensus estimate of $250.04 million.

Fourth Quarter Fiscal 2021 Financial Highlights

• Revenue: Total revenue was $264.9 million, a 74% increase, compared to $152.1 million in the fourth quarter of fiscal 2020. Subscription revenue was $244.7 million, a 77% increase, compared to $138.5 million in the fourth quarter of fiscal 2020.
• Annual Recurring Revenue (ARR) increased 75% year-over-year and grew to $1.05 billion as of January 31, 2021, of which $142.7 million was net new ARR added in the quarter.
• Subscription Gross Margin: GAAP subscription gross margin was 78%, compared to 75% in the fourth quarter of fiscal 2020. Non-GAAP subscription gross margin was 80%, compared to 77% in the fourth quarter of fiscal 2020.
• Income/Loss from Operations: GAAP loss from operations was $15.8 million, compared to $31.1 million in the fourth quarter of fiscal 2020. Non-GAAP income from operations was $34.4 million, compared to a loss of $6.7 million in the fourth quarter of fiscal 2020.
• Net Income/Loss: GAAP net loss was $19.0 million, compared to $28.4 million in the fourth quarter of fiscal 2020. GAAP net loss per share, basic and diluted, was $0.09, compared to $0.14 in the fourth quarter of fiscal 2020. Non-GAAP net income was $31.6 million, compared to a loss of $3.9 million in the fourth quarter of fiscal 2020. Non-GAAP net income per share, diluted, was $0.13, compared to a loss of $0.02 in the fourth quarter of fiscal 2020.
• Cash Flow: Net cash generated from operations was $114.5 million, compared to $66.1 million in the fourth quarter of fiscal 2020. Free cash flow was $97.4 million, compared to $50.7 million in the fourth quarter of fiscal 2020.
• Cash and Cash Equivalents was $1.92 billion as of January 31, 2021.

“CrowdStrike delivered a record fourth quarter and an exceptional finish to a strong fiscal year, achieving over $1 billion in ending ARR. The strong fourth quarter performance included record net new ARR of $143 million, 70% net new subscription customer growth year-over-year, and 77% year-over-year subscription revenue growth. Our go-to-market engine has gained incredible momentum with both marquee enterprises and small businesses alike as we expand our partner ecosystem and leverage our frictionless sales motion and leading technology to deliver immediate value to our customers. Combined with strong secular tailwinds, including digital transformation and an unprecedented threat environment, and our expanding technology portfolio, which now includes leading index-free data ingestion capabilities, we believe we are in an ideal position to further extend our leadership in the Security Cloud category we pioneered,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer.

Commenting on the company's financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “Throughout the fiscal year our record topline performance and strong execution resulted in significant gains in operating leverage and profitability on both a GAAP and non-GAAP basis. We are exiting the year with record subscription gross margin at the high end of our target model and record operating and free cash flow. With a continued focus on unit economics, we plan to aggressively invest for the long-term success of the company and further strengthen our position as the security cloud provider of choice.”

GUIDANCE:

CrowdStrike Holdings Inc. sees Q1 2022 EPS of $0.05-$0.06, versus the consensus of $0.04. CrowdStrike Holdings Inc. sees Q1 2022 revenue of $287.8-292.1 million, versus the consensus of $267.85 million.

CrowdStrike Holdings Inc. sees FY2022 EPS of $0.27-$0.30, versus the consensus of $0.28. CrowdStrike Holdings Inc. sees FY2022 revenue of $1.3104-1.3207 billion, versus the consensus of $1.22 billion.

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