$CRWD reports record-breaking Q4 and FY 2023 results and announces strategic alliance with Dell Technologies.
Mar 7th 2023, 9:07 pm
Analyst Summary: CrowdStrike Holdings, Inc. reported an exceptional Q4 and robust financial results for the fiscal year 2023 ended January 31, 2023. The company recorded $2.209 billion in revenue, an increase from $637.4 million in Q4 fiscal 2022. CrowdStrike's net new subscription customers for Q4 2023 was 1,873, and its net cash flow was a record-high. Furthermore, the company's net new annual recurring revenue was $221.7 million for Q4 2023. CrowdStrike boasts of its technology leadership and advanced artificial intelligence capabilities that drive better security outcomes at a lower cost. The company's management is seeking to increase operating leverage and expand its market share while investing in innovation. CrowdStrike has announced a new strategic alliance with Dell Technologies to help organizations prevent, detect, and respond to cyber threats. The company has taken proactive measures to expand its talent leadership in cybersecurity through its CrowdStrike Foundation and corporate-directed giving programs, which saw a YoY growth year-over-year. CrowdStrike was recognized as a Leader in Gartner's Magic Quadrant for Endpoint Protection Platforms for the third consecutive time. The management of the company announced its financial outlook for the fiscal first quarter and fiscal year 2024 during a conference call for analysts and investors. However, the company's forward-looking statements are subject to risks and uncertainties that might affect the company's operating performance. The company's business performance is subject to industry trends, technological developments, and general market and economic conditions, among other factors. Overall, investors should view CrowdStrike as a solid cybersecurity investment with excellent results and a promising outlook.