CrowdStrike Holdings (CRWD) FY2023 results: revenue $2.2 billion, up 54.4% on the year

CrowdStrike Holdings, Inc. (CRWD) reported revenue of $2.2 billion for fiscal 2023, the year ended 31 January 2023, up 54.4% on the year before. Net income was -$183 million, and diluted earnings per share $-0.20. The figures are the company's own, from the 10-K it filed with the SEC on 9 March 2023.

Revenue

$2.2 billion

+54.4% on the year

FY2018FY2023

Operating margin

-8.5%

-9.8% a year earlier

FY2018FY2023

Net income

-$183 million

FY2018FY2023

Diluted EPS

-$0.20

FY2018FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	2,241	1,452	874	+54.4%
Cost of revenue	601	383	230	+56.9%
Gross profit	1,640	1,068	645	+53.5%
Gross margin	73.2%	73.6%	73.7%
Research and development	608	371	215	+63.9%
Operating income	-190	-143	-92.5
Operating margin	-8.5%	-9.8%	-10.6%
Interest expense	25.3	25.2	1.6	+0.3%
Pre-tax income	-160	-160	-87.9
Income tax	22.4	72.4	4.8	-69.0%
Net income	-183	-235	-92.6
Net margin	-8.2%	-16.2%	-10.6%
Diluted EPS	-$0.20	-$0.26	-$0.11

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2023	FY2022	FY2021	On the year
Operating cash flow	941	575	357	+63.7%
Capital expenditure	235	112	52.8	+109.6%
Free cash flow	706	463	304	+52.6%
Free cash flow margin	31.5%	31.9%	34.7%
Cash from investing	-557	-565	495
Cash from financing	77.4	72.5	800	+6.8%
Share-based compensation	527	310	150	+69.9%
Buybacks	n/a	n/a	0.0
Diluted shares, weighted	933m	909m	871m	+2.6%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	1,464	1,026	871	+42.7%
Non-controlling interest	23.8	11.9	1.3	+100.3%
Debt	741	740	738	+0.2%
Operating lease liabilities	29.6	25.4	32.0	+16.5%
Other liabilities	2,769	1,816	1,091	+52.5%
Total liabilities and equity	5,027	3,618	2,733	+38.9%
Fixed assets	492	261	167	+88.9%
Goodwill	431	416	83.6	+3.4%
Intangible assets	86.9	97.3	15.7	-10.7%
Investments	250	0.0	0.0
Cash and equivalents	2,455	1,997	1,919	+23.0%
Receivables	626	368	239	+70.1%
Other assets	685	479	308	+43.0%
Total assets	5,027	3,618	2,733	+38.9%

10-K for the year ended 31 January 2023, filed 9 March 2023: the filing.