CrowdStrike Holdings (CRWD) FY2025 results: revenue $4.0 billion, up 29.4% on the year

CrowdStrike Holdings, Inc. (CRWD) reported revenue of $4.0 billion for fiscal 2025, the year ended 31 January 2025, up 29.4% on the year before. Net income was -$15 million, and diluted earnings per share $-0.01. The figures are the company's own, from the 10-K it filed with the SEC on 10 March 2025.

Revenue

$4.0 billion

+29.4% on the year

FY2018FY2025

Operating margin

-2.9%

-0.6% a year earlier

FY2018FY2025

Net income

-$15 million

FY2018FY2025

Diluted EPS

-$0.01

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	3,954	3,056	2,241	+29.4%
Cost of revenue	991	759	601	+30.6%
Gross profit	2,962	2,300	1,640	+28.8%
Gross margin	74.9%	75.3%	73.2%
Research and development	1,077	780	608	+38.0%
Operating income	-116	-19.1	-190
Operating margin	-2.9%	-0.6%	-8.5%
Interest expense	26.3	25.8	25.3	+2.2%
Pre-tax income	58.6	106	-160	-44.6%
Income tax	71.1	32.2	22.4	+120.7%
Effective tax rate	121.5%	30.5%	n/a
Net income	-15.2	72.2	-183
Net margin	-0.4%	2.4%	-8.2%
Diluted EPS	-$0.01	$0.07	-$0.20

$ 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	FY2025	FY2024	FY2023	On the year
Operating cash flow	1,382	1,166	941	+18.5%
Capital expenditure	255	177	235	+44.4%
Free cash flow	1,127	990	706	+13.9%
Free cash flow margin	28.5%	32.4%	31.5%
Cash from investing	-537	-341	-557
Cash from financing	107	93.2	77.4	+15.1%
Share-based compensation	861	649	527	+32.8%
Diluted shares, weighted	979m	975m	933m	+0.5%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	3,279	2,304	1,464	+42.3%
Non-controlling interest	39.4	33.1	23.8	+19.0%
Debt	744	742	741	+0.2%
Operating lease liabilities	31.1	36.2	29.6	-14.1%
Other liabilities	4,608	3,531	2,769	+30.5%
Total liabilities and equity	8,702	6,647	5,027	+30.9%
Fixed assets	789	620	492	+27.2%
Goodwill	913	638	431	+43.1%
Intangible assets	133	115	86.9	+16.2%
Investments	0.0	99.6	250
Cash and equivalents	4,323	3,375	2,455	+28.1%
Receivables	1,129	853	626	+32.3%
Other assets	1,415	946	685	+49.6%
Total assets	8,702	6,647	5,027	+30.9%

10-K for the year ended 31 January 2025, filed 10 March 2025: the filing.