Crowdstrike reports Q4 revenue of $431 million and $1.45 billion for full year

Crowdstrike published its fourth-quarter financial results on Wednesday, beating market estimates with solid growth from subscription customers. 

Crowdstrike’s total Q4 revenue was $431 million, a 63% increase over a year prior. Non-GAAP net income came to $70.4 million or 30 cents per share. 

The cybersecurity company added 1,638 net new subscription customers in the quarter for a total of 16,325 subscription customers as of January 31. That represents 65% year-over-year growth. Subscription revenue was $405.4 million, a 66% increase. 

Analysts were expecting earnings of 20 cents per share on revenue of $412.3 million. 

Crowdstrike’s annual recurring revenue (ARR) increased 65% year-over-year and grew to $1.73 billion as of of January 31. Of that, $216.9 million was net new ARR added in the quarter. 

For the full year, revenue was $1.45 billion, a 66% increase, while non-GAAP net income was $160.7 million. 

“Net new ARR of $217 million in the quarter was a new all-time high, driven by expansion of our leadership in the core endpoint market as well as a record quarter for cloud, identity protection, and Humio,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer.

“As our record results, growing scale, and module adoption rates demonstrate, customers are increasingly leveraging the breadth and depth of the Falcon platform as they look to transform their security stack.”

In addition to adding a record number of net new subscribers in the quarter, Crowdstrike reported solid growth in the portion of subscribers adopting multiple modules. CrowdStrike’s subscription customers that have adopted four or more modules, five or more modules, and six or more modules increased to 69%, 57%, and 34%, respectively, as of January 31. 

For the first quarter, the company expects total revenue in the range of $458.9 million and $465.4 million. For the full year, the company predicts a revenue of $2.13 billion and and $2.16 million.