CrowdStrike Posts $1.39B Q1 Revenue, $27.8M Profit and 4-for-1 Split
CRWD•CrowdStrike’s Q1 revenue rose 26% year-over-year to $1.39 billion, with net new annual recurring revenue up 32% to a record $256 million and GAAP net income swinging to a $27.8 million profit. The company also unveiled a four-for-one stock split and launched AI initiatives including Project QuiltWorks and Charlotte AI AgentWorks.
1. Q1 Financial Results
CrowdStrike reported Q1 revenue of $1.39 billion, up 26% year-over-year, driven by a record $256 million in net new annual recurring revenue, a 32% increase. GAAP net income turned positive at $27.8 million, compared to a $104.3 million loss in the prior-year quarter.
2. Stock Split and Retail Appeal
The board approved a four-for-one stock split to enhance share liquidity and attract retail investors. Financial professionals have ranked the company fourth among major software peers based on recent performance metrics.
3. AI Initiatives Expansion
CrowdStrike launched Project QuiltWorks in partnership with leading AI developers to address frontier AI security risks. The new Charlotte AI AgentWorks tool, built with AWS, NVIDIA and OpenAI technologies, enables customers to create custom security agents without coding.
4. Business Growth and Outlook
Subscription revenue accounted for 95% of total sales as customers continue adding Falcon platform modules, with over half running six or more modules. Trailing twelve-month revenue reached $5.1 billion, reflecting sustained 23.2% growth from fiscal 2020, while valuation multiples remain among the highest in the sector.
