Cover
Cover - USD ($) $ in Billions | 12 Months Ended | ||
Jan. 31, 2024 | Feb. 29, 2024 | Jul. 31, 2023 | |
Class of Stock [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2024 | ||
Current Fiscal Year End Date | --01-31 | ||
Document Transition Report | false | ||
Entity File Number | 001-38933 | ||
Entity Registrant Name | CROWDSTRIKE HOLDINGS, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 45-3788918 | ||
Entity Address, Address Line One | 206 E. 9th Street | ||
Entity Address, Address Line Two | Suite 1400 | ||
Entity Address, City or Town | Austin | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 78701 | ||
City Area Code | 888 | ||
Local Phone Number | 512-8906 | ||
Title of 12(b) Security | Class A common stock, par value $0.0005 per share | ||
Trading Symbol | CRWD | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 38.6 | ||
Documents Incorporated by Reference | Portions of the registrant’s definitive Proxy Statement relating to its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K where indicated. Such Proxy Statement will be filed with the United States Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates. | ||
Entity Central Index Key | 0001535527 | ||
Document Fiscal Year Focus | 2023 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Class A common stock | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 229,383,465 | ||
Class B common stock | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 12,485,193 |
Audit Information
Audit Information | 12 Months Ended |
Jan. 31, 2024 | |
Audit Information [Abstract] | |
Auditor Name | PricewaterhouseCoopers LLP |
Auditor Location | San Jose, California |
Auditor Firm ID | 238 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,375,069 | $ 2,455,369 |
Short-term investments | 99,591 | 250,000 |
Accounts receivable, net of allowance for credit losses of $2.2 million and $2.6 million as of January 31, 2024 and January 31, 2023, respectively | 853,105 | 626,181 |
Deferred contract acquisition costs, current | 246,370 | 186,855 |
Prepaid expenses and other current assets | 183,172 | 121,862 |
Total current assets | 4,757,307 | 3,640,267 |
Strategic investments | 56,244 | 47,270 |
Property and equipment, net | 620,172 | 492,335 |
Operating lease right-of-use assets | 48,211 | 39,936 |
Deferred contract acquisition costs, noncurrent | 335,933 | 260,233 |
Goodwill | 638,041 | 430,645 |
Intangible assets, net | 114,518 | 86,889 |
Other long-term assets | 76,094 | 28,965 |
Total assets | 6,646,520 | 5,026,540 |
Current liabilities: | ||
Accounts payable | 28,180 | 45,372 |
Accrued expenses | 125,896 | 137,884 |
Accrued payroll and benefits | 234,624 | 168,767 |
Operating lease liabilities, current | 14,150 | 13,046 |
Deferred revenue | 2,270,757 | 1,727,484 |
Other current liabilities | 23,672 | 16,519 |
Total current liabilities | 2,697,279 | 2,109,072 |
Long-term debt | 742,494 | 741,005 |
Deferred revenue, noncurrent | 783,342 | 627,629 |
Operating lease liabilities, noncurrent | 36,230 | 29,567 |
Other liabilities, noncurrent | 50,086 | 31,833 |
Total liabilities | 4,309,431 | 3,539,106 |
Commitments and contingencies (Note 9) | ||
Stockholders’ Equity | ||
Preferred stock, $0.0005 par value; 100,000 shares authorized as of January 31, 2024 and January 31, 2023; no shares issued and outstanding as of January 31, 2024 and January 31, 2023. | 0 | 0 |
Class A common stock, $0.0005 par value; 2,000,000 shares authorized as of January 31, 2024 and January 31, 2023; 229,380 shares, and 222,759 shares issued and outstanding as of January 31, 2024 and January 31, 2023, respectively; Class B common stock, $0.0005 par value; 300,000 shares authorized as of January 31, 2024 and January 31, 2023; 12,485 shares, and 13,018 shares issued and outstanding as of January 31, 2024 and January 31, 2023, respectively. | 121 | 118 |
Additional paid-in capital | 3,364,328 | 2,612,705 |
Accumulated deficit | (1,058,836) | (1,148,163) |
Accumulated other comprehensive loss | (1,663) | (1,019) |
Total CrowdStrike Holdings, Inc. stockholders’ equity | 2,303,950 | 1,463,641 |
Non-controlling interest | 33,139 | 23,793 |
Total stockholders’ equity | 2,337,089 | 1,487,434 |
Total liabilities and stockholders’ equity | $ 6,646,520 | $ 5,026,540 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jan. 31, 2024 | Jan. 31, 2023 |
Accounts receivable, allowance for credit losses | $ 2.2 | $ 2.6 |
Preferred stock par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Class A common stock | ||
Common stock par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Common stock shares authorized (in shares) | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued (in shares) | 229,380,000 | 222,759,000 |
Common stock, shares outstanding (in shares) | 229,380,000 | 222,759,000 |
Class B common stock | ||
Common stock par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Common stock shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 12,485,000 | 13,018,000 |
Common stock, shares outstanding (in shares) | 12,485,000 | 13,018,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Revenue | |||
Total revenue | $ 3,055,555 | $ 2,241,236 | $ 1,451,594 |
Cost of revenue | |||
Total cost of revenue | 755,723 | 601,231 | 383,221 |
Gross profit | 2,299,832 | 1,640,005 | 1,068,373 |
Operating expenses | |||
Sales and marketing | 1,140,566 | 904,409 | 616,546 |
Research and development | 768,497 | 608,364 | 371,283 |
General and administrative | 392,764 | 317,344 | 223,092 |
Total operating expenses | 2,301,827 | 1,830,117 | 1,210,921 |
Loss from operations | (1,995) | (190,112) | (142,548) |
Interest expense | (25,756) | (25,319) | (25,231) |
Interest income | 148,930 | 52,495 | 3,788 |
Other income, net | 1,638 | 3,053 | 3,968 |
Income (loss) before provision for income taxes | 122,817 | (159,883) | (160,023) |
Provision for income taxes | 32,232 | 22,402 | 72,355 |
Net income (loss) | 90,585 | (182,285) | (232,378) |
Net income attributable to non-controlling interest | 1,258 | 960 | 2,424 |
Net income (loss) attributable to CrowdStrike | $ 89,327 | $ (183,245) | $ (234,802) |
Net income (loss) per share attributable to CrowdStrike common stockholders, basic (in dollars per share) | $ 0.37 | $ (0.79) | $ (1.03) |
Net income (loss) per share attributable to CrowdStrike common stockholders (in dollars per share) | $ 0.37 | $ (0.79) | $ (1.03) |
Weighted-average shares used in computing net income (loss) per share attributable to CrowdStrike common stockholders, basic (in shares) | 238,637 | 233,139 | 227,142 |
Weighted-average shares used in computing net income (loss) per share attributable to CrowdStrike common stockholders, diluted (in shares) | 243,635 | 233,139 | 227,142 |
Subscription | |||
Revenue | |||
Total revenue | $ 2,870,557 | $ 2,111,660 | $ 1,359,537 |
Cost of revenue | |||
Total cost of revenue | 630,745 | 511,684 | 321,904 |
Professional services | |||
Revenue | |||
Total revenue | 184,998 | 129,576 | 92,057 |
Cost of revenue | |||
Total cost of revenue | $ 124,978 | $ 89,547 | $ 61,317 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ 90,585 | $ (182,285) | $ (232,378) |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments | (594) | 221 | (3,559) |
Unrealized loss on short-term investments, net of tax | (50) | 0 | 0 |
Other comprehensive income (loss) | (644) | 221 | (3,559) |
Less: Comprehensive income attributable to non-controlling interest | 1,258 | 960 | 2,424 |
Total comprehensive income (loss) attributable to CrowdStrike | $ 88,683 | $ (183,024) | $ (238,361) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Non-controlling Interest |
Beginning balance (in shares) at Jan. 31, 2021 | 223,724 | |||||
Beginning balance at Jan. 31, 2021 | $ 871,874 | $ 112 | $ 1,598,259 | $ (730,116) | $ 2,319 | $ 1,300 |
Stockholders' Deficit | ||||||
Issuance of common stock upon exercise of options (in shares) | 2,598 | |||||
Issuance of common stock upon exercise of options | 15,899 | $ 1 | 15,898 | |||
Issuance of common stock under RSU and PSU release (in shares) | 3,408 | |||||
Issuance of common stock under RSU and PSU release | 0 | $ 2 | (2) | |||
Issuance of common stock under employee stock purchase plan (in shares) | 904 | |||||
Issuance of common stock under employee stock purchase plan | 50,277 | 50,277 | ||||
Issuance of common stock for restricted stock awards (in shares) | 57 | |||||
Vesting of early exercised options | 3,165 | 3,165 | ||||
Issuance of common stock for founders holdbacks related to acquisitions (in shares) | 15 | |||||
Issuance of common stock for founders holdbacks related to acquisitions | 3,528 | 3,528 | ||||
Stock-based compensation expense | 305,792 | 305,792 | ||||
Capitalized stock-based compensation | 10,879 | 10,879 | ||||
Fair value of replacement equity awards attributable to pre-acquisition service | 4,011 | 4,011 | ||||
Net income (loss) | (232,378) | (234,802) | 2,424 | |||
Non-controlling interest | 8,155 | 8,155 | ||||
Other comprehensive income (loss) | (3,559) | (3,559) | ||||
Ending balance (in shares) at Jan. 31, 2022 | 230,706 | |||||
Ending balance at Jan. 31, 2022 | 1,037,643 | $ 115 | 1,991,807 | (964,918) | (1,240) | 11,879 |
Stockholders' Deficit | ||||||
Issuance of common stock upon exercise of options (in shares) | 1,032 | |||||
Issuance of common stock upon exercise of options | 8,655 | $ 3 | 8,652 | |||
Issuance of common stock under RSU and PSU release (in shares) | 3,444 | |||||
Issuance of common stock under RSU and PSU release | 0 | |||||
Issuance of common stock under employee stock purchase plan (in shares) | 517 | |||||
Issuance of common stock under employee stock purchase plan | 59,419 | 59,419 | ||||
Issuance of common stock for restricted stock awards (in shares) | 6 | |||||
Vesting of early exercised options | 2,204 | 2,204 | ||||
Issuance of common stock for founders holdbacks related to acquisitions (in shares) | 72 | |||||
Issuance of common stock for founders holdbacks related to acquisitions | 10,645 | 10,645 | ||||
Stock-based compensation expense | 519,735 | 519,735 | ||||
Capitalized stock-based compensation | 20,193 | 20,193 | ||||
Fair value of replacement equity awards attributable to pre-acquisition service | 50 | 50 | ||||
Net income (loss) | (182,285) | (183,245) | 960 | |||
Non-controlling interest | 10,954 | 10,954 | ||||
Other comprehensive income (loss) | 221 | 221 | ||||
Ending balance (in shares) at Jan. 31, 2023 | 235,777 | |||||
Ending balance at Jan. 31, 2023 | $ 1,487,434 | $ 118 | 2,612,705 | (1,148,163) | (1,019) | 23,793 |
Stockholders' Deficit | ||||||
Issuance of common stock upon exercise of options (in shares) | 1,146 | 1,146 | ||||
Issuance of common stock upon exercise of options | $ 8,695 | $ 2 | 8,693 | |||
Issuance of common stock under RSU and PSU release (in shares) | 4,041 | |||||
Issuance of common stock under RSU and PSU release | 0 | |||||
Issuance of common stock under employee stock purchase plan (in shares) | 747 | |||||
Issuance of common stock under employee stock purchase plan | 76,375 | $ 1 | 76,374 | |||
Issuance of common stock for restricted stock awards (in shares) | 125 | |||||
Vesting of early exercised options | 0 | |||||
Issuance of common stock for founders holdbacks related to acquisitions (in shares) | 27 | |||||
Issuance of common stock for founders holdbacks related to acquisitions | 4,314 | 4,314 | ||||
Issuance of common stock for payment of board of director fees (in shares) | 2 | |||||
Issuance of common stock for payment of board of director fees | 344 | 344 | ||||
Stock-based compensation expense | 626,861 | 626,861 | ||||
Capitalized stock-based compensation | 34,385 | 34,385 | ||||
Fair value of replacement equity awards attributable to pre-acquisition service | 652 | 652 | ||||
Net income (loss) | 90,585 | 89,327 | 1,258 | |||
Non-controlling interest | 8,088 | 8,088 | ||||
Other comprehensive income (loss) | (644) | (644) | ||||
Ending balance (in shares) at Jan. 31, 2024 | 241,865 | |||||
Ending balance at Jan. 31, 2024 | $ 2,337,089 | $ 121 | $ 3,364,328 | $ (1,058,836) | $ (1,663) | $ 33,139 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Operating activities | |||
Net income (loss) | $ 90,585 | $ (182,285) | $ (232,378) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 126,838 | 77,245 | 55,908 |
Amortization of intangible assets | 18,416 | 16,565 | 12,902 |
Amortization of deferred contract acquisition costs | 238,901 | 170,808 | 113,884 |
Non-cash operating lease cost | 13,398 | 9,440 | 9,103 |
Stock-based compensation expense | 631,519 | 526,504 | 309,952 |
Deferred income taxes | (3,387) | 1,306 | (13,956) |
Realized gains on strategic investments | (3,936) | 0 | 0 |
Accretion of short-term investments purchased at a discount | (2,285) | 0 | 0 |
Non-cash interest expense | 3,173 | 2,813 | 2,469 |
Change in fair value of strategic investments | 1,459 | (1,830) | (4,823) |
Changes in operating assets and liabilities, net of impact of acquisitions | |||
Accounts receivable, net | (217,699) | (258,109) | (125,354) |
Deferred contract acquisition costs | (371,649) | (298,716) | (234,308) |
Prepaid expenses and other assets | (102,520) | (46,807) | (29,535) |
Accounts payable | (18,898) | (15,463) | 33,248 |
Accrued expenses and other liabilities | 14,586 | 58,923 | 38,483 |
Accrued payroll and benefits | 65,102 | 65,226 | 32,681 |
Operating lease liabilities | (14,035) | (10,364) | (9,900) |
Deferred revenue | 696,639 | 825,751 | 616,408 |
Net cash provided by operating activities | 1,166,207 | 941,007 | 574,784 |
Investing activities | |||
Purchases of property and equipment | (176,529) | (235,019) | (112,143) |
Capitalized internal-use software and website development costs | (49,457) | (29,095) | (20,866) |
Purchases of strategic investments | (17,177) | (21,808) | (16,309) |
Proceeds from sales of strategic investments | 2,000 | 0 | 0 |
Business acquisitions, net of cash acquired | (239,030) | (18,349) | (414,518) |
Purchases of intangible assets | (11,126) | (2,323) | (680) |
Purchases of short-term investments | (195,581) | (250,000) | 0 |
Proceeds from maturities and sales of short-term investments | 348,281 | 0 | 0 |
Purchases of deferred compensation investments | (2,031) | (64) | 0 |
Net cash used in investing activities | (340,650) | (556,658) | (564,516) |
Financing activities | |||
Payments of debt issuance costs related to revolving line of credit | 0 | 0 | (219) |
Payments of debt issuance costs related to Senior Notes | 0 | 0 | (1,581) |
Repayment of loan payable | 0 | (1,591) | 0 |
Proceeds from issuance of common stock upon exercise of stock options | 8,695 | 8,655 | 15,899 |
Proceeds from issuance of common stock under the employee stock purchase plan | 76,375 | 59,419 | 50,277 |
Capital contributions from non-controlling interest holders | 8,088 | 10,954 | 8,155 |
Net cash provided by financing activities | 93,158 | 77,437 | 72,531 |
Effect of foreign exchange rates on cash, cash equivalents and restricted cash | 1,958 | (1,495) | (4,774) |
Net increase in cash, cash equivalents and restricted cash | 920,673 | 460,291 | 78,025 |
Cash, cash equivalents and restricted cash at beginning of period | 2,456,924 | 1,996,633 | 1,918,608 |
Cash, cash equivalents and restricted cash at end of period | 3,377,597 | 2,456,924 | 1,996,633 |
Cash and cash equivalents | 3,375,069 | 2,455,369 | 1,996,633 |
Restricted cash included in prepaid expenses and other assets | 2,528 | 1,555 | 0 |
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | 3,377,597 | 2,456,924 | 1,996,633 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 22,500 | 22,551 | 13,088 |
Income taxes paid, net of refunds received | 22,608 | 11,943 | 74,677 |
Supplemental disclosure of non-cash investing and financing activities: | |||
Net (decrease) increase in property and equipment included in accounts payable and accrued expenses | (3,081) | 22,421 | 6,522 |
Vesting of early exercised stock options | 0 | 2,204 | 3,165 |
Equity consideration for acquisitions | 652 | 50 | 4,011 |
Operating lease liabilities arising from obtaining operating right of-use assets | 16,445 | 18,464 | 4,867 |
Proceeds from sales of strategic investments not yet received | 8,774 | 0 | 0 |
Stock-based compensation included in capitalized software development costs and fixed assets | $ 31,919 | $ 20,193 | $ 10,879 |
Description of Business and Sig
Description of Business and Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2024 | |
Accounting Policies [Abstract] | |
Description of Business and Significant Accounting Policies | Description of Business and Significant Accounting Policies Business CrowdStrike Holdings, Inc. (the “Company”) was formed on November 7, 2011. The Company is a global cybersecurity leader that delivers cybersecurity’s AI-native platform for the XDR era, purpose-built to stop breaches. The Company’s unified platform provides cloud-delivered protection of endpoints, cloud workloads, identity, and data via a software as a service (“SaaS”) subscription-based model that spans multiple large security markets, including corporate endpoint security, security and IT operations, managed security services, next-gen SIEM, cloud security, identity protection, threat intelligence, data protection, exposure management and cybersecurity generative AI. The Company conducts its business in the United States, as well as locations internationally, including in Australia, Germany, India, Israel, Romania, and the United Kingdom. Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain prior year information has been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or accumulated deficit. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such differences could be material to the Company’s consolidated financial statements. Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for credit losses, the useful lives of long-lived assets, the fair values of strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, stock-based compensation, and the fair value of assets acquired and liabilities assumed in business combinations. Concentration of Credit Risk and Geographic Information The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, short-term investments, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company has not experienced any credit loss relating to its cash, cash equivalents, short-term investments, or strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral. There were no channel partners or direct customers who represented 10% or more of the Company’s accounts receivable as of January 31, 2024 and January 31, 2023. There were no channel partners or direct customers who represented 10% or more of the Company’s total revenue during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022. Cash Equivalents and Short-term Investments The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Cash equivalents are mainly comprised of money market funds, U.S. Treasury bills, and time deposits. The Company had $3.1 billion and $1.6 billion of cash equivalents as of January 31, 2024 and January 31, 2023, respectively. Short-term investments consist of U.S. Treasury bills and time deposits with original maturities greater than three months but less than one year. The Company had $99.6 million and $250.0 million of short-term investments as of January 31, 2024 and January 31, 2023, respectively. The Company classifies investments in U.S. Treasury bills as available-for-sale securities at the time of purchase and re-evaluates the designations as of each balance sheet date. The Company classifies its available-for-sale securities as short-term investments based on their nature and their availability for use in current operations. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in accumulated other comprehensive income (loss). Unrealized losses are recorded in other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other-than-temporary. The Company did not identify any available-for-sale securities as other-than-temporarily impaired as of January 31, 2024 and January 31, 2023. Realized gains and losses from the sale of available-for-sale securities are determined based on a specific identification method and are recorded in other income (expense), net. Strategic Investments In July 2019, the Company agreed to commit up to $10.0 million to a newly formed entity, CrowdStrike Falcon Fund LLC (the “Original Falcon Fund”) in exchange for 50% of the sharing percentage of any distributions by the Original Falcon Fund. In December 2021, the Company agreed to commit an additional $50.0 million to a newly formed entity, CrowdStrike Falcon Fund II LLC (“Falcon Fund II”) in exchange for 50% of the sharing percentage of any distributions by Falcon Fund II. Further, entities associated with Accel also agreed to commit up to $10.0 million and $50.0 million, respectively, to the Original Falcon Fund and Falcon Fund II (collectively, the “Falcon Funds”), and collectively own the remaining 50% of the sharing percentage of the Falcon Funds. Both Falcon Funds are in the business of purchasing, selling, and investing in minority equity and convertible debt securities of privately-held companies that develop applications that have potential for substantial contribution to CrowdStrike and its platform. The Company is the manager of the Falcon Funds and controls the investment decisions and day-to-day operations and accordingly has consolidated each of the Falcon Funds. Each Falcon Fund has a duration of ten years and may be extended for three The Company elected the measurement alternative for the non-marketable equity investments of the Falcon Funds where eligible. Under the measurement alternative, the non-marketable equity investments are measured at cost, less any impairment, plus or minus adjustments resulting from price changes from observable transactions of identical or similar securities of the same issuer. All gains and losses on strategic investments, realized and unrealized, are recognized in other income (expense), net. Strategic investments are classified within Level 3 in the fair value hierarchy as these investments do not have readily determinable market values. The carrying amount of strategic investments is adjusted based on observable price changes from observable transactions of identical or similar securities of the same issuer and other unobservable inputs including volatility, rights, and obligations of the investments, or by impairments when identified events and circumstances indicate a decline in value has occurred. The Company classifies the investments in the Falcon Funds as a non-current asset called strategic investments on the consolidated balance sheets. Fair Value of Financial Instruments The Company’s financial instruments consist of cash equivalents, short-term investments, strategic investments, accounts receivable, accounts payable, accrued expenses, the Senior Notes, and investments for the Company’s deferred compensation plan. The carrying values of cash equivalents, short-term investments, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. If these financial instruments were measured at fair value in the consolidated financial statements, money market funds, accounts receivable, accounts payable, accrued expenses, and investments for the Company’s deferred compensation plan would be classified as Level 1, and U.S. treasury securities included in cash equivalents and short-term investments would be classified as Level 2. The Senior Notes are carried at the initially allocated liability value less unamortized debt discount and issuance costs on the Company’s consolidated balance sheets. The Company discloses the fair value of the Senior Notes at each reporting period for disclosure purposes only. The Company's investments related to the deferred compensation plan are invested within a Rabbi Trust. Participants in the deferred compensation plan may select the securities in which their compensation deferrals are invested within the confines of the Rabbi Trust. These securities are marked-to-market each reporting period. Refer to Note 2, Investments and Fair Value Measurements, regarding the fair value of the Company’s non-marketable securities and deferred compensation investments and Note 4, Debt, for the fair value of the Company’s Senior Notes. Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are stated at their net realizable value, net of the allowance for credit losses. The Company has a well-established collections history from its customers. Credit is extended to customers based on an evaluation of their financial condition and other factors. The Company generally does not require collateral from its customers; however, the Company may require payment prior to commencing service in certain instances to limit credit risk. The Company regularly reviews the adequacy of the allowance for credit losses by considering various factors including the age of each outstanding invoice, each customer’s expected ability to pay, historical loss rates, and expectations of forward-looking loss estimates to determine whether the allowance is appropriate. Amounts deemed uncollectible are written off against the allowance for credit losses. Segment Information The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The CODM reviews financial information presented on a consolidated basis for the purposes of allocating resources and evaluating financial performance. Accordingly, management has determined that the Company operates as one operating and reportable segment. Business Combinations The Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. The purchase price allocation process requires management to make significant estimates and assumptions with respect to intangible assets. Although the Company believes the assumptions and estimates it has made are reasonable, they are based in part on historical experience, market conditions, and information obtained from management of the acquired companies and are inherently uncertain. Examples of judgments used to estimate the fair value of intangibles assets include, but are not limited to, future expected cash flows, expected customer attrition rates, estimated obsolescence rates, and discount rates. These estimates are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statements of operations. Goodwill and Intangible Assets The Company evaluates and tests goodwill for impairment at least annually, on January 31, or more frequently if circumstances indicate that goodwill may not be recoverable. A qualitative assessment is performed to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of its one reporting unit is less than its carrying value. In assessing the qualitative factors, the Company considers the impact of certain key factors including macroeconomic conditions, industry and market considerations, management turnover, changes in regulation, litigation matters, changes in enterprise value, and overall financial performance. If the Company determines it is more likely than not that the fair value of its one reporting unit is less than its carrying value, a quantitative test is performed by estimating the fair value of its reporting unit, including goodwill, and comparing it to its carrying value. If the fair value is lower than the carrying value, the excess is recognized as an impairment loss. No impairment losses were recorded during the fiscal years ended January 31, 2024, January 31, 2023, or January 31, 2022. See Note 3, Balance Sheet Components, and Note 11, Acquisitions, to the consolidated financial statements for more information. Acquired intangible assets mainly consisting of developed technology, customer relationships, intellectual property and other acquired intangible assets are stated at fair value at the acquisition date and are amortized on a straight-line basis over their estimated economic lives, which are generally one Property and Equipment, Net Property and equipment, net, is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows: Data center and other computer equipment 3 – 5 years Furniture and equipment 5 years Purchased software 3 – 5 years Capitalized internal-use software and website development 3 years Leasehold improvements Estimated useful life or term of the lease, whichever is shorter Expenditures for routine maintenance and repairs are charged to operating expense as incurred. Major renewals and improvements are capitalized and depreciated over their estimated useful lives. The Company reviews for impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the asset (or asset group) may not be recoverable. Events and changes in circumstances considered by the Company in determining whether the carrying value of long-lived assets may not be recoverable, include, but are not limited to, significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, and changes in the Company’s business strategy. Impairment testing is performed at an asset level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (an “asset group”). An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset (or asset group) and its eventual disposition are less than its carrying amount. No impairment indicators were identified by the Company and no impairment losses were recorded by the Company during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022. Capitalized Internal-Use Software and Website Development Costs The Company capitalizes certain development costs incurred in connection with its internal-use software and website development. These capitalized costs are primarily related to the Company’s cloud-delivered solution for next-generation endpoint protection, as well as redefining, redesigning, and rebuilding crowdstrike.com. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct, are capitalized until the internal-use software and website are substantially complete and ready for their intended use. The Company contracts with third party information technology providers for various service arrangements including software, platform, and information technology infrastructure. The Company capitalizes the implementation costs incurred to develop or obtain internal-use software in such arrangements, which are recorded as part of property and equipment, net in the consolidated balance sheets. All capitalized implementation costs are amortized over the term of the arrangement, which includes reasonably certain renewals. Costs incurred during the preliminary project and post-implementation stages are expensed as the activities are performed. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as property and equipment, net. Maintenance and training costs are expensed as incurred. Internal-use software and website development costs are amortized to cost of revenue on a straight-line basis over its estimated useful life of three years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Deferred Contract Acquisition Costs Under ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers, the Company capitalizes contract acquisition costs that are incremental to the acquisition of customer contracts. Contract acquisition costs are accrued and capitalized upon execution of the sales contract by the customer. Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to referral partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of four years, while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contracts are amortized ratably over an estimated period of benefit of six months. Deferred Revenue The deferred revenue balance consists of subscription and professional services, which have been invoiced upfront, and are recognized as revenue only when the revenue recognition criteria are met. The Company’s subscription contracts are typically invoiced to its customers at the beginning of the term, or in some instances, such as in multi-year arrangements, in installments. Professional services are invoiced upfront, invoiced in installments, or invoiced as the services are performed. Accordingly, the Company’s deferred revenue balance does not include revenue for future years of multi-year non-cancellable contracts that have not yet been billed. The Company recognizes subscription revenue ratably over the contract term beginning on the commencement date of each contract, the date that services are made available to customers. The Company recognizes professional services revenue as services are delivered. Once services are available to customers, the Company records amounts due in accounts receivable and in deferred revenue. To the extent the Company bills customers in advance of the contract commencement date, the accounts receivable and corresponding deferred revenue amounts are netted to zero on the consolidated balance sheets, unless such amounts have been paid as of the balance sheet date. Revenue Recognition In accordance with ASU 2014-09, Revenue from Contracts with Customers (“ASC 606”), revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. To achieve the core principle of this standard, the Company applies the following five steps: (1) Identify the contract with a customer The Company considers the terms and conditions of contracts with customers and its customary business practices in identifying contracts under ASC 606. The Company determines it has a contract with a customer when the contract is approved, each party’s rights regarding the services to be transferred can be identified, payment terms for the services can be identified, it has been determined that the customer has the ability and intent to pay, and the contract has commercial substance. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. (2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from the Company or from third parties, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company’s performance obligations consist of (i) subscriptions and (ii) professional services. (3) Determine the transaction price The transaction price is determined based on the consideration to which the Company is expected to be entitled in exchange for transferring services to the customer. Variable consideration is included in the transaction price if it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of the Company’s contracts contain a significant financing component. (4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”). (5) Recognize revenue when or as performance obligations are satisfied Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to the customer. Revenue is recognized when control of the services is transferred to the customer, in an amount that reflects the consideration expected to be received in exchange for those services. The Company generates all its revenue from contracts with customers. Subscription Revenue The Company’s Falcon Platform technology solutions are subscription SaaS offerings designed to continuously monitor, share, and mitigate risks from determined attackers. Customers do not have the right to take possession of the cloud-based software platform. Fees are based on several factors, including the solutions subscribed for by the customer and the number of endpoints purchased by the customer. The subscription fees are typically payable within 30 to 60 days after the execution of the arrangement, and thereafter upon renewal or subsequent installment. The Company initially records the subscription fees as deferred revenue and recognizes revenue on a straight-line basis over the term of the agreement. The typical subscription term is one Professional Services Revenue The Company offers several types of professional services including incident response and forensic services, surge forensic and malware analysis, and attribution analysis, which are focused on responding to imminent and direct threats, assessing vulnerabilities, and recommending solutions. These services are distinct from subscription services. Professional services do not result in significant customization of the subscription service. The Company’s professional services are available through time and material and fixed fee agreements. Revenue for time and material agreements is recognized as services are performed. Fixed fee contracts account for an immaterial portion of the Company’s revenue. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple promised services consisting of subscription and professional services that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative SSP basis. The SSP is the price at which the Company would sell promised subscription or professional services separately to a customer. Judgment is required to determine the SSP for each distinct performance obligation. The Company determines SSP based on its overall pricing objectives, taking into consideration the type of subscription or professional service and the number of endpoints. Variable Consideration Revenue from sales is recorded at the net sales price, which is the transaction price, and may include estimates of variable consideration. The amount of variable consideration that is included in the transaction price is constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue will not occur when the uncertainty is resolved. If subscriptions do not meet certain service level commitments, the Company’s customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. The Company has historically not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription contracts. Accordingly, any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented. The Company provides rebates and other credits within its contracts with certain resellers, which are estimated based on the expected value to be earned or claimed on the related sales transaction. Overall, the transaction price is reduced to reflect the Company’s estimate of the amount of consideration to which it is entitled based on the terms of the contract. Estimated rebates and other credits were not material during the periods presented. Research and Development Expense Research and development costs are expensed when incurred, except for certain internal-use software development costs, which may be capitalized as noted above. Research and development expenses consist primarily of personnel and related headcount costs, costs of professional services associated with the ongoing development of the Company’s technology, and allocated overhead. Advertising Most advertising costs are expensed as incurred, except for certain production costs that are deferred and expensed at the first time the advertising takes place. The Company incurred $79.9 million, $53.8 million, and $50.5 million of advertising costs during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. Stock-Based Compensation Compensation related to stock-based awards to employees and directors is measured and recognized in the Company’s consolidated statements of operations based on the fair value of the awards granted. The Company estimates the fair value of its stock options using the Black-Scholes option-pricing model. The stock-based compensation expense relating to stock options is recognized on a straight-line basis over the period during which the employee or director is required to provide service in exchange for the award, usually the vesting period, which is generally four years. Restricted stock units (“RSUs”) are generally subject to a service-based vesting condition. The service-based vesting condition is generally four years. The valuation of these RSUs is based solely on the Company’s stock price on the date of grant, and the corresponding compensation expense is amortized on a straight-line basis. Performance-based stock units (“PSUs”) are generally subject to both a service-based vesting condition and a performance-based vesting condition. The fair value of the award is equal to the Company’s stock price on the date of grant. PSUs generally vest over a four-year period, subject to continued service through the applicable vesting dates. The stock-based compensation expense relating to PSUs is recognized using the accelerated attribution method over the requisite service period when it is probable that the performance condition will be satisfied. The Special PSU Awards are subject to the Company’s achievement of specified stock price hurdles and a service-based vesting condition. The Company measured the fair value of the Special PSU Awards using a Monte Carlo simulation valuation model. The stock-based compensation expense relating to the Special PSU Awards is recognized using the accelerated attribution method over the longer of the derived service period and the explicit service period. Employee Stock Purchase Plan (“ESPP”) grants are measured based on the fair value at grant date using the Black-Scholes option-pricing model. The resulting stock-based compensation expense is recognized using the accelerated attribution method over a two-year offering period and is accounted for as having four separate tranches starting on the same initial enrollment date. The requisite service periods for the four tranches are approximately 6, 12, 18, and 24 months. The Company accounts for forfeitures as they occur for all stock-based awards. Deferred Compensation In December 2022, the board of directors approved the CrowdStrike Inc. Deferred Compensation Plan (the “Plan”), effective January 1, 2023. The Plan is a non-qualified, deferred compensation arrangement that permits eligible employees to make 100% vested salary and incentive compensation deferrals within established limits. The Company does not make contributions to the Plan. The Plan’s assets consist of marketable securities held in a Rabbi Trust and are included in other long-term assets in the consolidated balance sheets because they are intended to fund the Plan’s long-term liabilities. They are not available for use in the Company’s daily operations and are not intended to be sold within a short period of time after purchase. The marketable securities were recorded at fair value based on quoted market prices and were $2.3 million and immaterial as of January 31, 2024 and January 31, 2023, respectively. The deferred compensation liability was $2.3 million and immaterial as of January 31, 2024 and January 31, 2023, respectively, and is included in other liabilities, noncurrent in the consolidated balance sheets. Gains and losses on deferred compensation investments are included in other income (expense), net, and corresponding changes in the deferred compensation liability are included in operating expenses and cost of revenue. Changes in the fair value of the deferred compensation asset and liability were immaterial for the fiscal years ended January 31, 2024 and January 31, 2023, respectively. Operating Leases The Company enters into operating lease arrangements for real estate assets related to office space. The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including whether a vendor’s right to substitute an identified asset is substantive. Lease classification is determined at the lease commencement date, which is the date the leased assets are made available for use. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, current, and ope |
Investments and Fair Value Meas
Investments and Fair Value Measurements | 12 Months Ended |
Jan. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Investments and Fair Value Measurements | Investments and Fair Value Measurements The Company follows ASC 820 , Fair Value Measurements , with respect to cash equivalents, short-term investments and deferred compensation investments that are measured at fair value on a recurring basis. Under the standard, fair value is defined as the exit price, or the amount that would be received to sell an asset or a liability in an orderly transaction between market participants as of the measurement date. The standard also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability based upon the best information available in the circumstances. The hierarchy is broken down into three levels as follows: Level 1 Assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in active markets Level 2 Assets and liabilities whose values are based on quoted prices in markets that are not active or inputs that are observable for substantially the full term of the asset or liability Level 3 Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands): January 31, 2024 January 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Cash equivalents (2) Money market funds $ 2,360,173 $ — $ — $ 2,360,173 $ 64,752 $ — $ — $ 64,752 U.S. Treasury securities — 693,599 — 693,599 — — — — Short-term investments (1) U.S. Treasury securities — 99,591 — 99,591 — — — — Other assets Deferred compensation investments 2,271 — — 2,271 64 — — 64 Total assets $ 2,362,444 $ 793,190 $ — $ 3,155,634 $ 64,816 $ — $ — $ 64,816 _______________________________________ (1) $250.0 million of time deposits, which are included in short-term investments, are excluded since they are carried at cost and approximate fair value as of January 31, 2023. (2) Cash equivalents exclude $1.6 billion of time deposits, which are carried at cost and approximate fair value as of January 31, 2023. There were no transfers between the levels of the fair value hierarchy during the periods presented. As of January 31, 2024, the Company’s U.S. Treasury securities are carried at fair value and there were no material realized or unrealized gains or losses, either individually or in aggregate. There were no U.S. Treasury securities as of January 31, 2023. The following summarizes the changes in the net carrying value of strategic investments, which are Level 3, within the fair value hierarchy for the fiscal years ended January 31, 2024 and January 31, 2023 (in thousands): January 31, 2024 2023 Carrying amount, beginning of period $ 47,270 $ 23,632 Adjustments related to non-marketable securities: Purchases 17,177 21,807 Unrealized net gains (loss) due to changes in fair value (1,459) 1,831 Sales of investments (6,838) — Other 94 — Carrying amount, end of period $ 56,244 $ 47,270 |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Jan. 31, 2024 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Balance Sheet Components | Balance Sheet Components Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): January 31, 2024 2023 Data center and other computer equipment $ 525,890 $ 297,585 Capitalized internal-use software and website development costs 183,117 113,276 Leasehold improvements 39,168 24,944 Purchased software 10,907 6,384 Furniture and equipment 8,524 7,412 Construction in progress 190,832 259,013 958,438 708,614 Less: Accumulated depreciation and amortization (338,266) (216,279) Property and equipment, net $ 620,172 $ 492,335 Construction in progress primarily includes data center equipment purchased that has not yet been placed in service. Data center equipment that was purchased but not yet been placed into service was $167.5 million and $245.4 million as of January 31, 2024 and January 31, 2023, respectively. Depreciation and amortization expense of property and equipment was $126.8 million, $77.2 million, and $54.4 million, during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The Company capitalized $77.9 million, $49.3 million, and $30.7 million in internal-use software and website development costs during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. Amortization expense associated with internal-use software and website development costs totaled $37.3 million, $21.5 million, and $12.4 million during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The net book value of capitalized internal-use software and website development costs was $106.9 million and $66.3 million as of January 31, 2024 and January 31, 2023, respectively. Intangible Assets, Net Total intangible assets, net consisted of the following (dollars in thousands): January 31, 2024 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in months) Developed technology $ 131,346 $ 41,854 $ 89,492 60 Customer relationships 17,027 5,825 11,202 68 Intellectual property and other acquired intangible assets 15,842 2,018 13,824 123 Total $ 164,215 $ 49,697 $ 114,518 January 31, 2023 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in months) Developed technology $ 101,452 $ 25,866 $ 75,586 68 Customer relationships 12,032 3,831 8,201 61 Intellectual property and other acquired intangible assets 4,717 1,615 3,102 147 Total $ 118,201 $ 31,312 $ 86,889 Amortization expense of intangible assets was $18.4 million, $16.6 million, and $12.9 million, during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The estimated aggregate future amortization expense of intangible assets as of January 31, 2024 was as follows (in thousands): Total Fiscal 2025 $ 23,089 Fiscal 2026 21,990 Fiscal 2027 19,817 Fiscal 2028 19,326 Fiscal 2029 16,573 Thereafter 13,723 Total amortization expense $ 114,518 Goodwill The change in goodwill during the fiscal year ended January 31, 2024 consisted of the following (in thousands): Amounts Goodwill as of January 31, 2023 $ 430,645 Goodwill acquired (1) 207,450 Foreign currency translation (54) Goodwill as of January 31, 2024 $ 638,041 __________________________________ (1) Goodwill acquired resulted from the acquisition of Bionic Technology. Refer to Note 11 for additional information. Accrued Expenses Accrued expenses consisted of the following (in thousands): January 31, 2024 2023 Web hosting services $ 40,706 $ 65,589 Accrued purchases of property and equipment 16,190 20,157 Accrued marketing 14,623 11,435 Accrued partner commissions 13,584 5,800 Other accrued expenses 13,512 9,487 Accrued professional services 11,867 13,281 Accrued interest expense 10,375 10,375 Accrued health benefits and claims 5,039 1,760 Accrued expenses $ 125,896 $ 137,884 Accrued Payroll and Benefits Accrued payroll and benefits consisted of the following (in thousands): January 31, 2024 2023 Accrued commissions $ 116,870 $ 77,287 Accrued payroll and related expenses 58,579 39,907 Accrued bonuses 36,860 34,098 Employee Stock Purchase Plan 22,315 17,475 Accrued payroll and benefits $ 234,624 $ 168,767 |
Debt
Debt | 12 Months Ended |
Jan. 31, 2024 | |
Debt Disclosure [Abstract] | |
Debt | Debt Secured Revolving Credit Facility In April 2019, the Company entered into a Credit Agreement with Silicon Valley Bank and other lenders, to provide a revolving line of credit of up to $150.0 million, including a letter of credit sub-facility in the aggregate amount of $10.0 million, and a swingline sub-facility in the aggregate amount of $10.0 million. On January 4, 2021, the Company amended and restated its existing credit agreement (the “A&R Credit Agreement” and the facility thereunder the “Revolving Facility”) among CrowdStrike, Inc., as borrower, CrowdStrike Holdings, Inc., as guarantor, and Silicon Valley Bank and the other lenders party thereto, providing the Company with a revolving line of credit of up to $750.0 million, including a letter of credit sub-facility in the aggregate amount of $100.0 million, and a swingline sub-facility in the aggregate amount of $50.0 million. The Company also has the option to request an incremental facility of up to an additional $250.0 million from one or more of the lenders under the A&R Credit Agreement. The A&R Credit Agreement is guaranteed by all of the Company’s material domestic subsidiaries. The A&R Credit Agreement extended the maturity date of April 19, 2022 to January 2, 2026. On January 6, 2022, the Company modified the A&R Credit Agreement (the “Amended A&R Credit Agreement”) among CrowdStrike, Inc., as borrower, CrowdStrike Holdings, Inc., as guarantor, and Silicon Valley Bank and the other lenders party thereto. There were no changes to the borrowing amounts or maturity date. Under the Amended A&R Credit Agreement, revolving loans are Alternate Base Rate (“ABR”) Loans. Outstanding ABR Loans incur interest at the highest of (a) the Prime Rate, as published by the Wall Street Journal, (b) the federal funds rate in effect on such day plus 0.50%, and (c) the Term Secured Overnight Finance Rate (the “Term SOFR”) for a one-month tenor in effect on such day plus 1.00%, in each case plus a margin between (0.25)% and 0.25%, depending on the senior secured leverage ratio. The Company will be charged a commitment fee of 0.15% to 0.25% per year for committed but unused amounts, depending on the senior secured leverage ratio. The financial covenants require the Company to maintain a minimum consolidated interest coverage ratio of 3.00:1.00 and a maximum total leverage ratio of 5.50:1.00 stepping down to 3.50:1.00 over time. The Company was in compliance with all of its financial covenants as of January 31, 2024. The Amended A&R Credit Agreement is secured by substantially all of the Company’s current and future consolidated assets, property and rights, including, but not limited to, intellectual property, cash, goods, equipment, contractual rights, financial assets, and intangible assets of the Company and certain of its subsidiaries. The Amended A&R Credit Agreement contains customary covenants limiting the Company’s ability and the ability of its subsidiaries to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock, and make investments, in each case subject to certain exceptions. No amounts were outstanding under the Amended A&R Credit Agreement as of January 31, 2024. Senior Notes On January 20, 2021, the Company issued $750.0 million in aggregate principal amount of 3.00% Senior Notes maturing in February 2029. The Senior Notes are guaranteed by the Company’s subsidiary, CrowdStrike, Inc. and will be guaranteed by each of the Company’s existing and future domestic subsidiaries that becomes a borrower or guarantor under the A&R Credit Agreement. The Senior Notes were issued at par and bear interest at a rate of 3.00% per annum. Interest payments are payable semiannually on February 15 and August 15 of each year, commencing on August 15, 2021. The Company may voluntarily redeem the Senior Notes, in whole or in part, 1) at any time prior to February 15, 2024 at (a) 100.00% of their principal amount, plus a “make whole” premium or (b) with the net cash proceeds received from an equity offering at a redemption price equal to 103.00% of the principal amount, provided the aggregate principal amount of all such redemptions does not exceed 40% of the original aggregate principal amount of the Senior Notes; 2) at any time on or after February 15, 2024 at a prepayment price equal to 101.50% of the principal amount; 3) at any time on or after February 15, 2025 at a prepayment price equal to 100.75% of the principal amount; and 4) at any time on or after February 15, 2026 at a prepayment price equal to 100.00% of the principal amount; in each case, plus accrued and unpaid interest, if any, to but excluding, the date of redemption. The net proceeds from the debt offering were $738.0 million after deducting the underwriting commissions of $9.4 million and $2.6 million of issuance costs. The debt issuance costs are being amortized to interest expense using the effective interest method over the term of the Senior Notes. Interest expense related to contractual interest expense, amortization of debt issuance costs, and accretion of debt discount was $24.0 million during both fiscal years ended January 31, 2024 and January 31, 2023. In certain circumstances involving a change of control event, the Company will be required to make an offer to repurchase all or, at the holder’s option, any part, of each holder’s notes of that series at 101% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The indenture governing the Senior Notes (the “Indenture”) contains covenants limiting the Company’s ability and the ability of its subsidiaries to create liens on certain assets to secure debt; grant a subsidiary guarantee of certain debt without also providing a guarantee of the Senior Notes; declare dividends; and consolidate or merge with or into, or sell or otherwise dispose of all or substantially all of its assets to, another person. These covenants are subject to a number of limitations and exceptions. Certain of these covenants will not apply during any period in which the notes are rated investment grade by Fitch Ratings, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody’s”), and Standard & Poor’s Ratings Services (“S&P”). As of January 31, 2024, the Company was in compliance with all of its financial covenants under the Indenture associated with the Senior Notes. Based on the trading prices of the Senior Notes, the fair value of the Senior Notes was approximately $671.2 million and $645.4 million as of January 31, 2024 and January 31, 2023, respectively. While the Senior Notes are recorded at cost, the fair value of the Senior Notes was determined based on quoted prices in markets that are not active; accordingly, the Senior Notes are categorized as Level 2 for purposes of the fair value measurement hierarchy. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company’s geographical breakdown of its income (loss) before provision for income taxes for the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022 is as follows (in thousands): Year Ended January 31, 2024 2023 2022 Domestic $ 99,241 $ (195,042) $ (179,334) International 23,576 35,159 19,311 Income (loss) before provision for income taxes $ 122,817 $ (159,883) $ (160,023) The components of the provision for income taxes during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022 are as follows (in thousands): Year Ended January 31, 2024 2023 2022 Current Federal $ 272 $ — $ — State 4,462 855 611 Foreign 30,885 20,241 85,700 Total current 35,619 21,096 86,311 Deferred Federal (307) 135 (363) State (343) 89 (63) Foreign (2,737) 1,082 (13,530) Total deferred (3,387) 1,306 (13,956) Provision for income taxes $ 32,232 $ 22,402 $ 72,355 The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes during the fiscal years ended January 31, 2024 , January 31, 2023, and January 31, 2022 (in thousands): As of January 31, 2024 2023 2022 Provision for income taxes at statutory rate $ 25,527 $ (33,777) $ (33,605) State income taxes, net of federal benefits 4,118 944 673 Foreign tax rate differential 22,425 11,003 574 Research and other credits (21,182) (19,465) (19,113) Stock-based compensation (31,852) (47,335) (145,964) Non-deductible expenses 4,604 2,800 2,783 Change in valuation allowance 28,810 102,892 210,680 Tax impact of restructuring — 5,340 57,236 Other (218) — (909) Provision for income taxes $ 32,232 $ 22,402 $ 72,355 The Company recognized income tax expense of $32.2 million, $22.4 million, and $72.4 million for the fiscal years January 31, 2024, January 31, 2023 and January 31, 2022, respectively. The tax expense for the fiscal year ended January 31, 2024 was primarily attributable to pre-tax earnings and withholding taxes related to customer payments in certain foreign jurisdictions in which the Company conducts business. The tax expense for the fiscal years ended January 31, 2023 and January 31, 2022 was primarily attributable to pre-tax foreign earnings and withholding taxes related to customer payments in certain foreign jurisdictions and intercompany sales of intellectual property from acquisitions. Although the transfers of the intellectual property between consolidated entities did not result in any gain in the consolidated statements of operations, the Company generated a taxable gain in the respective foreign jurisdiction, resulting in an additional tax expense of $4.7 million and $57.2 million for the fiscal years ended January 31, 2023 and January 31, 2022, respectively. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of January 31, 2024 and January 31, 2023 are as follows (in thousands): As of January 31, 2024 2023 Deferred tax assets Net operating loss carryforwards $ 420,803 $ 441,352 Research and other credit carryforwards 100,002 75,712 Intangible assets 81,551 62,650 Stock-based compensation 33,885 44,861 Deferred revenue 169,777 109,919 Accrued expenses 23,956 17,890 Operating lease liabilities 20,613 13,013 Capitalized research and development 320,708 286,124 Gross deferred assets 1,171,295 1,051,521 Less: Valuation allowance (957,710) (910,070) Total deferred tax assets 213,585 141,451 Deferred tax liabilities Property and equipment, net (51,335) (24,096) Capitalized commissions (128,302) (99,397) Intangible assets (6,489) — Operating right-of-use assets (19,956) (12,285) Other, net (277) (1,220) Total deferred tax liabilities (206,359) (136,998) Net deferred tax assets $ 7,226 $ 4,453 The Company maintains a full valuation allowance on U.S. federal and state and certain foreign deferred tax assets, including net operating loss carryforwards and tax credits, which the Company has determined are not realizable on a more-likely-than-not basis. The Company regularly evaluates the need for a valuation allowance. Due to recent profitability, a material reversal of the Company’s valuation allowance in U.S. jurisdictions in the foreseeable future is reasonably possible. During the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, the valuation allowance increased by $47.6 million, $139.2 million, and $357.0 million, respectively. The increases in the valuation allowance during the fiscal years ended January 31, 2024 and January 31, 2023 were primarily driven by U.S. operations. As of January 31, 2024, January 31, 2023, and January 31, 2022 the valuation allowance for deferred taxes was $957.7 million, $910.1 million, and $770.9 million, respectively. As of January 31, 2024, the Company had aggregate federal and California net operating loss carryforwards of $1.5 billion and $243.9 million, respectively, which may be available to offset future taxable income for income tax purposes. The federal net operating losses are carried forward indefinitely, and California net operating loss carryforwards begin to expire in 2032 through 2043. As of January 31, 2024, net operating loss carryforwards for other states totaled $0.8 billion, which begin to expire in fiscal 2025 through fiscal 2043. As of January 31, 2024, net operating loss carryforwards for the U.K. totaled $78.0 million and Israel totaled $51.5 million, which are carried forward indefinitely. As of January 31, 2024, the Company had federal and California research and development (“R&D”) credit carryforwards of $113.9 million and $27.4 million, respectively. The federal R&D credit carryforwards will begin to expire in fiscal 2036 though fiscal 2044. The California R&D credits are carried forward indefinitely. The Internal Revenue Code imposes limitations on a corporation’s ability to utilize net operating loss (“NOLs”) and credit carryovers if it experiences an ownership change as defined in Section 382. In general terms, an ownership change may result from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50% over a three-year period. If an ownership change has occurred, or were to occur, utilization of the Company’s NOLs and credit carryovers could be restricted. The Company’s net operating losses and credit carryovers are not currently subject to a limitation due to an ownership change. Total gross unrecognized tax benefits as of January 31, 2024, January 31, 2023, and January 31, 2022 were $58.9 million, $36.9 million, and $26.3 million, respectively. As of January 31, 2024, the Company had $12.7 million of unrecognized tax benefits, which, if recognized, would affect the Company’s effective tax rate due to the full valuation allowance. The Company’s policy is to classify interest and penalties related to unrecognized tax benefits as part of the income tax provision in the consolidated statements of operations. Cumulatively, the Company had incurred $1.4 million of interest and penalties related to unrecognized tax benefits as of January 31, 2024, and an insignificant amount of interest and penalties related to unrecognized tax benefits as of January 31, 2023, and January 31, 2022. During the fiscal year ended January 31, 2024, January 31, 2023, and January 31, 2022 the net increase in uncertain tax benefits was a result of research and development credits. The potential change in unrecognized tax benefits during the next 12 months is not expected to be material. The following is a rollforward of the total gross unrecognized tax benefits for the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022 (in thousands): Balance as of February 1, 2021 $ 24,447 Increases in prior period tax positions 186 Decreases in prior period tax positions (9,772) Increases in current period tax positions 11,463 Balance as of January 31, 2022 26,324 Decreases in prior period tax positions (2,122) Increases in current period tax positions 12,699 Balance as of January 31, 2023 36,901 Increases in prior period tax positions 4,757 Decreases in prior period tax positions (1,321) Increases in current period tax positions 18,538 Balance as of January 31, 2024 $ 58,875 The Company files income tax returns in the U.S. federal, foreign, and various state jurisdictions. Tax years 2011 and onwards remain subject to examination by taxing authorities. The Company does not provide for federal and state income taxes on the undistributed earnings of its foreign subsidiaries as such earnings are to be reinvested offshore indefinitely. If the Company repatriated these earnings, the tax impact of future distributions of foreign earnings would generally be limited to withholding tax from foreign jurisdictions, and the resulting income tax liability would be insignificant. |
Leases
Leases | 12 Months Ended |
Jan. 31, 2024 | |
Leases [Abstract] | |
Leases | Leases Operating Leases The Company has entered into non-cancellable operating lease agreements with various expiration dates through fiscal 2033. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. Cash paid for amounts included in the measurement of operating lease liabilities were $15.4 million, $12.0 million, and $11.8 million for the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. Operating lease liabilities arising from obtaining operating right of-use assets were $16.4 million and $18.5 million for the fiscal years ended January 31, 2024 and January 31, 2023, respectively. The weighted-average remaining lease terms were 3.7 years and 3.5 years as of January 31, 2024 and January 31, 2023, respectively. The weighted-average discount rates were 5.7% and 4.5% as of January 31, 2024 and January 31, 2023, respectively. The components of lease costs were as follows (in thousands): Year Ended January 31, 2024 2023 2022 Lease cost Operating lease cost $ 15,510 $ 11,084 $ 11,262 Short-term lease cost 3,664 2,344 1,918 Variable lease cost 8,480 8,279 4,874 Total lease cost $ 27,654 $ 21,707 $ 18,054 Sublease income for fiscal year ended January 31, 2024 was immaterial. There was no sublease income for the fiscal years ended January 31, 2023, or January 31, 2022. As of January 31, 2024, the Company has not entered into non-cancellable operating leases with terms greater than 12 months that have not yet commenced. The maturities of the Company’s non-cancellable operating lease liabilities are as follows (in thousands): January 31, 2024 Fiscal 2025 $ 15,290 Fiscal 2026 13,567 Fiscal 2027 8,585 Fiscal 2028 8,269 Fiscal 2029 4,482 Thereafter 6,078 Total operating lease payments 56,271 Less: imputed interest (5,891) Present value of operating lease liabilities $ 50,380 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jan. 31, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Stock Incentive Plan In May 2019, the Company’s board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan (the “2019 Plan”) with the purpose of granting stock-based awards to employees, directors, officers, and consultants, including stock options, restricted stock awards, restricted stock units (“RSUs”), and performance-based restricted stock units (“PSUs”). A total of 8,750,000 shares of Class A common stock were initially available for issuance under the 2019 Plan. The Company’s compensation committee administers the 2019 Plan. The number of shares of the Company’s common stock available for issuance under the 2019 Plan is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) two percent (2%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as the Company’s board of directors may determine. The 2011 Plan was terminated on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO, and stock-based awards are no longer granted under the 2011 Plan. Any shares underlying stock options that expire, terminate, or are forfeited or repurchased under the 2011 Plan will be automatically transferred to the 2019 Plan. Stock Options The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The expected term represents the period that the Company’s share-based awards are expected to be outstanding. The expected term assumptions were determined based on the vesting terms, exercise terms, and contractual lives of the options. The expected stock price volatility is based upon comparable public company data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated option life. Stock options granted during both fiscal years ended January 31, 2024 and January 31, 2023 were immaterial. The fair value of stock options was generally estimated on the date of grant using the following assumptions during the fiscal year ended January 31, 2022: Year Ended January 31, 2022 Expected term (in years) 3.82 – 5.63 Risk-free interest rate 0.6% – 1.0% Expected stock price volatility 36.1% – 37.1% Dividend yield — % The following table is a summary of stock option activity for the fiscal year ended January 31, 2024: Number of Weighted- (in thousands) Options outstanding at January 31, 2023 2,869 $ 8.52 Granted 51 $ 39.09 Exercised (1,146) $ 7.58 Canceled (20) $ 65.82 Options outstanding at January 31, 2024 1,754 $ 9.37 Options vested and expected to vest at January 31, 2024 1,754 $ 9.37 Options exercisable at January 31, 2024 1,591 $ 8.98 Options outstanding include 131,996 options that were unvested and exercisable as of January 31, 2024. The aggregate intrinsic value of options vested and exercisable was $451.0 million, $247.2 million, and $480.5 million as of January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The weighted-average remaining contractual term of options vested and exercisable was 4.2 years, 4.8 years, and 5.7 years as of January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The weighted-average grant date fair values of all options granted was $126.16, $116.26, and $180.08 per share during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The total intrinsic value of all options exercised was $190.1 million, $166.8 million, and $570.9 million during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022, respectively. The aggregate intrinsic value of stock options outstanding as of January 31, 2024, January 31, 2023, and January 31, 2022 was $496.7 million, $279.4 million, and $678.0 million, respectively, which represents the excess of the fair value of the Company’s common stock over the exercise price of the options, multiplied by the number of options outstanding. The weighted-average remaining contractual term of stock options outstanding was 4.3 years, 5.0 years, and 6.1 years as of January 31, 2024, January 31, 2023, and January 31, 2022, respectively. Total unrecognized stock-based compensation expense related to unvested options was $4.3 million as of January 31, 2024. This expense is expected to be amortized over a weighted-average vesting period of 1.0 year. Early Exercise of Employee Options The 2011 Stock Plan allows for the early exercise of stock options for certain individuals as determined by the board of directors. The consideration received for an early exercise of an option is a deposit of the exercise price, and the related dollar amount is recorded as a liability for early exercise of unvested stock options in the consolidated balance sheets. This liability is reclassified to additional paid-in capital as the awards vest. If a stock option is early exercised, the unvested shares may be repurchased by the Company in case of employment termination or for any reason, including death and disability, at the price paid by the purchaser for such shares. There were no issued shares of common stock related to early exercised stock options during the fiscal year ended January 31, 2024 or January 31, 2023. As of January 31, 2024 and January 31, 2023, there were no shares of common stock related to early exercised stock options subject to repurchase. Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The Company includes unvested shares subject to repurchase in the number of shares outstanding in the consolidated balance sheets and statements of stockholders’ equity. Restricted Stock Units RSUs granted under the 2019 Plan are generally subject to only a service-based vesting condition. The service-based vesting condition is generally satisfied based on one of four vesting schedules: (i) vesting of one-fourth of the RSUs on the first “Company vest date” (defined as March 20, June 20, September 20, or December 20) on or following the one-year anniversary of the vesting commencement date, with the remainder of the RSUs vesting in twelve equal quarterly installments thereafter, subject to continued service, (ii) vesting in sixteen equal quarterly installments, subject to continued service, (iii) vesting in eight equal quarterly installments, subject to continued service, or (iv) vesting in sixteen quarterly installments with 10% in the first year, 15% in the second year, 25% in the third year, and 50% in the fourth year, subject to continued service. The valuation of these RSUs is based solely on the fair value of the Company’s stock on the date of grant. Total unrecognized stock-based compensation expense related to unvested RSUs was $1.5 billion as of January 31, 2024. This expense is expected to be amortized over a weighted-average vesting period of 2.8 years. Performance-based Stock Units PSUs granted under the 2019 Plan are generally subject to both a service-based vesting condition and a performance-based vesting condition. PSUs will vest upon the achievement of specified performance targets and subject to continued service through the applicable vesting dates. The stock-based compensation expense relating to PSUs is recognized using the accelerated attribution method over the requisite service period when it is probable that the performance condition will be satisfied. Total unrecognized stock-based compensation expense related to unvested PSUs was $76.0 million as of January 31, 2024. This expense is expected to be amortized over a weighted-average vesting period of 1.2 years. Special PSU Awards In fiscal 2022 the Company’s board of directors granted 655,000 performance stock units (the “Special PSU Awards”) to certain executives under the 2019 Plan. The Special PSU Awards will vest upon the satisfaction of the Company’s achievement of specified stock price hurdles, which are based on the average of the closing stock price per share of the Company’s Class A common stock during any 45 consecutive trading day period during the applicable performance period, and a service-based vesting condition. The service condition applicable to each tranche of the Special PSU Awards will be satisfied in installments as follows, subject to continued employment with the Company through each applicable vesting date: (i) 50% of the Special PSU Awards underlying the applicable tranche will service vest on the first anniversary of the vesting commencement date applicable to such tranche of the Special PSU Awards (i.e., February 1, 2022, February 1, 2023, February 1, 2024, and February 1, 2025) and (ii) the remaining PSUs with respect to such tranche will thereafter service vest in four equal quarterly installments of 12.5%. The Company measured the fair value of the Special PSU Awards on the grant date using a Monte Carlo simulation valuation model. The risk-free interest rates used were 0.85% - 1.51%, which were based on the zero-coupon-risk-free interest rate derived from the Treasury Constant Maturities yield curve for the expected term of the award on the grant date. The expected volatility was a blended volatility rate of 54.89% - 55.36%, which includes 50% weight on the Company’s historical volatility calculated from daily stock returns over a 2.21 - 2.58 year look-back from the grant date and 50% weight based on the Company’s implied volatility as of the grant date. Total unrecognized stock-based compensation expense related to the unvested portion of the Special PSU Awards was $30.7 million as of January 31, 2024. This expense is expected to be amortized over a weighted-average vesting period of 1.6 years. The following table is a summary of RSUs, PSUs, and the Special PSU Awards activities for the fiscal year ended January 31, 2024: Number of Weighted-Average (in thousands) RSUs and PSUs outstanding at January 31, 2023 10,050 $ 158.08 Granted 6,312 $ 158.87 Released (4,041) $ 136.75 Performance adjustment (1) 155 $ 211.22 Forfeited (1,508) $ 163.54 RSUs and PSUs outstanding at January 31, 2024 10,968 $ 167.84 RSUs and PSUs expected to vest at January 31, 2024 (2) 10,263 $ 164.78 ___________________________ (1) The performance adjustment represents adjustments in shares outstanding due to the actual achievement of performance-based awards, the achievement of which was based upon pre-defined financial performance targets. (2) Excludes in progress PSUs and Special PSUs where pre-defined targets have not yet been achieved. Employee Stock Purchase Plan In May 2019, the board of directors adopted, and the stockholders approved, the CrowdStrike Holdings, Inc. 2019 Employee Stock Purchase Plan (“ESPP”), which became effective on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO. A total of 3,500,000 shares of Class A common stock were initially reserved for issuance under the ESPP. The Company’s compensation committee administers the ESPP. The number of shares of common stock available for issuance under the ESPP is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) one percent (1%) of the outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as its board of directors may determine. In May 2021, the Company’s compensation committee adopted an amendment and restatement of the ESPP, which was approved by the Company’s stockholders in June 2021. The amended and restated ESPP clarified the original intent that the annual increase will in no event exceed 5,000,000 shares of the Company’s Class A common stock in any year. The ESPP provides for consecutive offering periods that will typically have a duration of approximately 24 months in length and are comprised of four purchase periods of approximately six months in length. The offering periods are scheduled to start on the first trading day on or after June 11 and December 11 of each year. The first offering period commenced on June 11, 2019 and ended on June 10, 2021. The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s Class A common stock through payroll deductions of up to 15% of their eligible compensation. A participant may purchase a maximum of 2,500 shares of common stock during a purchase period. Amounts deducted and accumulated by the participant are used to purchase shares of common stock at the end of each six-month purchase period. The purchase price of the shares is 85% of the lower of the fair market value of the Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the related offering period. Participants may end their participation at any time during an offering period and will be paid their accrued contributions that have not yet been used to purchase shares of common stock. Participation ends automatically upon termination of employment. The ESPP allows for up to one increase in contribution during each purchase period. If an employee elects to increase his or her contribution, the Company treats this as an accounting modification. The ESPP also offers a two-year look-back feature, as well as a rollover feature that provides for an offering period to be rolled over to a new lower-priced offering if the offering price of the new offering period is less than that of the current offering period. During the fiscal year ended January 31, 2023, there were ESPP rollovers because the Company’s closing stock price on the purchase date was lower than the Company’s closing stock price on the first day of the offering periods. As a result, these offering dates were rolled over to a new 24-month offering period through December 12, 2024. These rollovers were accounted for as a modification to the original offerings. The total incremental expense as a result of the rollover and contribution modifications was $58.6 million, which will be recognized over the new or remaining offering periods. Total incremental expense as a result of contribution modifications during the fiscal year ended January 31, 2024 was $7.3 million, which will be recognized over the remaining offering periods. Employee payroll contributions ultimately used to purchase shares are reclassified to Stockholders’ equity on the purchase date. ESPP employee payroll contributions accrued as of January 31, 2024 and January 31, 2023 totaled $22.3 million and $17.5 million, respectively, and are included within accrued payroll and benefits in the consolidated balance sheets. The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine the fair value of employee stock purchase rights granted under the Company’s stock plan: Year Ended January 31, 2024 2023 2022 Expected term (in years) 0.5 – 2.0 0.5 – 2.0 0.5 – 2.0 Risk-free interest rate 0.2% – 5.3% 0.1% – 4.7% 0.0% – 1.9% Expected stock price volatility 40.8% – 61.2% 39.6% – 67.4% 33.0% – 55.9% Dividend yield — % — % — % Stock-Based Compensation Expense Stock-based compensation expense included in the consolidated statements of operations is as follows (in thousands): Year Ended January 31, 2024 2023 2022 Subscription cost of revenue $ 43,886 $ 32,091 $ 22,044 Professional services cost of revenue 22,302 15,692 10,050 Sales and marketing 175,808 151,919 89,634 Research and development 205,896 174,711 102,027 General and administrative 183,627 152,091 86,197 Total stock-based compensation expense $ 631,519 $ 526,504 $ 309,952 |
Revenue, Deferred Revenue and R
Revenue, Deferred Revenue and Remaining Performance Obligations | 12 Months Ended |
Jan. 31, 2024 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Revenue, Deferred Revenue and Remaining Performance Obligations | Revenue, Deferred Revenue and Remaining Performance Obligations The following table summarizes revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service (in thousands, except percentages): Year Ended January 31, 2024 2023 2022 Amount % Revenue Amount % Revenue Amount % Revenue United States $ 2,088,054 68 % $ 1,563,567 70 % $ 1,046,474 72 % Europe, Middle East, and Africa 467,928 15 % 327,929 15 % 200,198 14 % Asia Pacific 315,524 10 % 228,124 10 % 142,686 10 % Other 184,049 7 % 121,616 5 % 62,236 4 % Total revenue $ 3,055,555 100 % $ 2,241,236 100 % $ 1,451,594 100 % No single country other than the United States represented 10% or more of the Company’s total revenue during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022. Contract Balances Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. The Company recognized revenue of $1,718.5 million and $1,126.9 million for the fiscal years ended January 31, 2024 and January 31, 2023, respectively, which was included in the corresponding contract liability balance at the beginning of the period. The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 – 60 days. Contract assets include amounts related to the contractual right to consideration for both completed and partially completed performance obligations that may not have been invoiced. Changes in deferred revenue were as follows (in thousands): Year Ended January 31, 2024 2023 Beginning balance $ 2,355,113 $ 1,529,321 Additions to deferred revenue 3,754,541 3,067,028 Recognition of deferred revenue (3,055,555) (2,241,236) Ending balance $ 3,054,099 $ 2,355,113 Remaining Performance Obligations The Company’s subscription contracts with its customers have a typical term of one Costs to Obtain and Fulfill a Contract The Company capitalizes referral fees paid to partners and sales commissions and associated payroll taxes paid to internal sales personnel, contractors, or sales agents that are incremental to the acquisition of channel partner and direct customer contracts and would not have occurred absent the customer contract. These costs are recorded as deferred contract acquisition costs, current and deferred contract acquisition costs, noncurrent on the consolidated balance sheets. Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to referral partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of four years, while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contracts are amortized ratably over an estimated period of benefit of six months and are included in sales and marketing expense in the consolidated statements of operations. In determining the period of benefit for commissions paid for the acquisition of the initial contract, the Company took into consideration the expected subscription term and expected renewals of customer contracts, the historical duration of relationships with customers, customer retention data, and the life of the developed technology. The Company periodically reviews the carrying amount of deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred costs. The Company did not recognize any material impairment losses of deferred contract acquisition costs during the year ended January 31, 2024. The following table summarizes the activity of deferred contract acquisition costs (in thousands): Year Ended January 31, 2024 2023 Beginning balance $ 447,088 $ 319,180 Capitalization of contract acquisition costs 374,116 298,716 Amortization of deferred contract acquisition costs (238,901) (170,808) Ending balance $ 582,303 $ 447,088 Deferred contract acquisition costs, current $ 246,370 $ 186,855 Deferred contract acquisition costs, noncurrent 335,933 260,233 Total deferred contract acquisition costs $ 582,303 $ 447,088 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Purchase Obligations In the normal course of business, the Company enters into non-cancellable purchase commitments with various parties to purchase products and services such as data center capacity, advertising, technology, equipment, office renovations, corporate events, and consulting services. A summary of non-cancellable purchase obligations in excess of one year as of January 31, 2024, with expected date of payment is as follows (in thousands): Total Fiscal 2025 $ 220,707 Fiscal 2026 163,323 Fiscal 2027 124,015 Fiscal 2028 118,754 Fiscal 2029 95,956 Thereafter 24,876 Total purchase commitments $ 747,631 Subsequent to January 31, 2024, the Company has committed to an additional $1.8 billion of non-cancellable purchase obligations from fiscal 2025 to fiscal 2031. These commitments are excluded from the table above and will be included in the table in subsequent periods. On March 3, 2024, a wholly owned subsidiary of the Company entered into a definitive agreement to purchase Flow Security Ltd., a privately held company. The purchase price for the transaction will be approximately $115.0 million, subject to customary closing adjustments. The acquisition is expected to close in the first quarter of fiscal 2025. Letters of Credit The Company has unused unsecured standby letters of credit for securing its facilities in Tel Aviv, Israel, Sunnyvale, California and Austin, Texas. As of January 31, 2024 and January 31, 2023 , the unused standby letters of credit were immaterial. Litigation In June 2022, the Company and Fair Isaac Corporation (“FICO”) resolved a trademark dispute that was pending before the Trademark Trial and Appellate Board (“TTAB”) at the U.S. Patent and Trademark Office. The TTAB dismissed all proceedings between the parties in July 2022. In March 2022, Webroot, Inc. and Open Text, Inc. (collectively, “Webroot”) filed a lawsuit against the Company and CrowdStrike, Inc. in federal court in the Western District of Texas alleging that certain of the Company’s products infringe six patents held by them. In the complaint, Webroot sought unspecified damages, attorneys’ fees, and a permanent injunction. In May 2022, CrowdStrike, Inc. asserted counterclaims alleging that certain of Webroot’s products infringe two of its patents. In the filing, CrowdStrike, Inc. sought unspecified damages, reasonable fees and costs, and a permanent injunction. In September 2022, Webroot amended its complaint to assert six additional patents. In November 2023, CrowdStrike, Inc. entered into an agreement that provided for, among other things, the settlement and dismissal of the parties’claims and filed for dismissal. The amount attributable to the settlement was not material. In addition, the Company is involved in various other legal proceedings and subject to claims that arise in the ordinary course of business. For any claims for which the Company believes a liability is both probable and reasonably estimable, the Company records a liability in the period for which it makes this determination. There is no pending or threatened legal proceeding to which the Company is a party that, in the Company’s opinion, is reasonably possible to have a material effect on its consolidated financial statements; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on the Company’s business because of defense and settlement costs, diversion of management resources, and other factors. In addition, the costs of litigation and the timing of these costs from period to period are difficult to estimate, subject to change and could adversely affect the Company’s consolidated financial statements. Warranties and Indemnification The Company’s cloud computing services are typically warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company’s online help documentation under normal use and circumstances. The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. In addition, for its Falcon Complete customers, the Company offers a limited warranty, subject to certain conditions, to cover certain costs incurred by the customer in case of a cybersecurity breach. The Company has entered into an insurance policy to reduce its potential liability arising from this limited warranty arrangement. To date, the Company has not incurred any material costs because of such obligations and has not accrued any liabilities related to such obligations in the consolidated financial statements. The Company has also agreed to indemnify its directors and certain executive officers for costs associated with any fees, expenses, judgments, fines, and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that would generally enable the Company to recover a portion of any future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions. No liabilities have been accrued associated with this indemnification provision as of January 31, 2024 or January 31, 2023 . |
Geographic Information
Geographic Information | 12 Months Ended |
Jan. 31, 2024 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information The Company’s property and equipment, net and operating lease right-of-use assets, are summarized by geographic area as follows (in thousands): January 31, 2024 2023 United States $ 539,580 $ 433,756 Germany 84,488 67,278 Other countries 44,315 31,237 Total property and equipment, net and operating lease right-of-use assets $ 668,383 $ 532,271 |
Acquisitions
Acquisitions | 12 Months Ended |
Jan. 31, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
Acquisitions | Acquisitions Bionic On September 28, 2023, the Company acquired 100% of the equity interest of Bionic Stork, Ltd. (“Bionic”), a privately-held company that provides an Application Security Posture Management platform designed to proactively reduce and mitigate security, data privacy, and operational risks by analyzing application architecture and dependencies that run in production. The acquisition has been accounted for as a business combination. The total consideration transferred consisted of $239.0 million in cash, net of $25.7 million of cash acquired, and $0.7 million representing the fair value of replacement equity awards attributable to pre-acquisition service. The remaining fair value of these replacement awards attributed to post-combination service was excluded from the purchase price. The purchase price was allocated on a preliminary basis, subject to working capital adjustment and continuing management analysis, to identified intangible assets, which include developed technology and customer relationships of $34.9 million, net tangible liabilities acquired of $2.7 million, and goodwill of $207.5 million, which was allocated to the Company’s one reporting unit and represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired. The goodwill was primarily attributable to the assembled workforce of Bionic, planned growth in new markets, and synergies expected to be achieved from the integration of Bionic. Goodwill is not deductible for income tax purposes. Per the terms of the share purchase agreement with Bionic, certain unvested stock options held by Bionic employees were canceled and exchanged for replacement stock options under the 2019 Plan. Additionally, certain shares of Bionic stock held by Bionic employees were exchanged for shares of the Company’s Class A common stock, subject to service-based vesting and other conditions. Further, the Company granted RSUs and PSUs under the 2019 Plan to certain continuing employees. The awards that are subject to continued service are recognized ratably as stock-based compensation expense over the requisite service period. The awards that are subject to both continued service and specified performance targets are recognized over the requisite service period when it is probable that the performance condition will be satisfied. The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollars in thousands): Fair Value Useful Life (in months) Developed technology $ 29,900 72 Customer relationships 5,000 96 Total intangible assets acquired $ 34,900 Acquisition costs during the fiscal year ended January 31, 2024 were $4.1 million and are recorded in general and administrative and research and development expenses on the Company’s consolidated statements of operations. The results of operations for the acquisition have been included in the Company’s consolidated financial statements from the date of acquisition. The acquisition of Bionic did not have a material impact on the Company’s consolidated financial statements, and therefore historical and pro forma disclosures have not been presented. Reposify Ltd. On October 3, 2022, the Company acquired 100% of the equity interest of Reposify Ltd. (“Reposify”), a privately-held company that provides an external attack surface management platform that scans the internet for exposed assets of an organization to detect and eliminate risk from vulnerable and unknown assets before attackers can exploit them. The acquisition has been accounted for as a business combination. The total consideration transferred consisted of $18.9 million, net of cash acquired of $0.5 million, and an immaterial amount representing the fair value of replacement equity awards attributable to pre-acquisition service. The remaining fair value of these replacement awards is subject to the recipient’s continued service and thus was excluded from the purchase price. The purchase price was allocated to developed technology of $3.8 million, net tangible assets acquired of $0.9 million, and goodwill of $14.2 million, which was allocated to the Company’s one reporting unit and represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired. The goodwill was primarily attributable to the assembled workforce of Reposify, planned growth in new markets, and synergies expected to be achieved from the integration of Reposify. Goodwill was not deductible for income tax purposes. The fair value of the developed technology acquired was $3.8 million with a useful life of 72 months. Acquisition costs during the fiscal year ended January 31, 2024 were not material and are recorded in research and development expenses on the Company’s consolidated statements of operations. The results of operations for the above acquisitions have been included in the Company’s consolidated financial statements from the date of acquisition. The acquisitions did not have material impact on the Company’s consolidated financial statements, and therefore historical and pro forma disclosures have not been presented. |
Net Income (Loss) Per Share Att
Net Income (Loss) Per Share Attributable to Common Stockholders | 12 Months Ended |
Jan. 31, 2024 | |
Earnings Per Share [Abstract] | |
Net Income (Loss) Per Share Attributable to Common Stockholders | Net Income (Loss) Per Share Attributable to Common Stockholders Basic and diluted net income (loss) per share attributable to CrowdStrike’s common stockholders is computed in conformity with the two-class method required for participating securities. Basic net income (loss) per share attributable to CrowdStrike common stockholders is computed by dividing the net income (loss) attributable to CrowdStrike by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share attributable to CrowdStrike common stockholders is calculated by dividing net income by the combination of the weighted-average number of common shares outstanding and the weighted-average number of dilutive common share equivalents during the period. The dilutive potential shares of common stock are comprised of outstanding stock options, RSUs, PSUs, Special PSUs, ESPP obligations, and founder holdbacks, and are computed using the treasury stock method. The effects of the outstanding stock options, RSUs, PSUs, Special PSUs, ESPP obligations, and founders holdbacks are excluded from the computation of the diluted net income per share in periods in which the effect would be anti-dilutive. The rights of the holders of Class A and Class B common stock are identical, except with the respect to voting and conversion rights. As such, the undistributed earnings are allocated equally to each share of common stock without class distinction and the resulting basic and diluted net income (loss) per share attributable to CrowdStrike common stockholders are the same for shares of Class A and Class B common stock. The following table sets forth the computation of basic and diluted net income (loss) per share attributable to CrowdStrike common stockholders (in thousands, except per share data): Year Ended January 31, 2024 2023 2022 Numerator: Net income (loss) attributable to Class A and Class B CrowdStrike common stockholders $ 89,327 $ (183,245) $ (234,802) Denominator: Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B of CrowdStrike common stockholders, basic 238,637 233,139 227,142 Dilutive effect of common stock equivalents 4,998 — — Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B of CrowdStrike common stockholders, dilutive 243,635 233,139 227,142 Net income (loss) per share attributable to Class A and Class B CrowdStrike common stockholders, basic $ 0.37 $ (0.79) $ (1.03) Net income (loss) per share attributable to Class A and Class B CrowdStrike common stockholders, diluted $ 0.37 $ (0.79) $ (1.03) The potential shares of common stock that were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows (in thousands): Year Ended January 31, 2024 2023 2022 Shares of common stock subject to repurchase from outstanding stock options — — 198 RSUs and PSUs subject to future vesting 3,125 10,050 7,886 Shares of common stock issuable from stock options 1 2,869 3,938 Share purchase rights under the Employee Stock Purchase Plan 411 4,481 642 Potential common shares excluded from diluted net income (loss) per share 3,537 17,400 12,664 The above table excludes founder holdbacks related to business combinations where a variable number of shares will be issued upon vesting to settle a fixed monetary amount of $3.6 million, contingent upon continued employment with the Company. The share price will be determined based on the Company’s average stock price or the volume weighted average stock price five days prior to each vesting date. During the fiscal year ended January 31, 2024, 27,330 shares were issued to settle founder holdbacks at a weighted average price of $157.85 per share. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Pay vs Performance Disclosure | |||
Net income (loss) attributable to Class A and Class B CrowdStrike common stockholders | $ 89,327 | $ (183,245) | $ (234,802) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 12 Months Ended |
Jan. 31, 2024 shares | Jan. 31, 2024 shares | |
Trading Arrangements, by Individual | ||
Material Terms of Trading Arrangement | During the three months ended January 31, 2024, certain of our officers or directors listed below adopted or terminated trading arrangements for the sale of shares of our Class A common stock in amounts and prices determined in accordance with a formula set forth in each such plan: Plans Name and Title Action Date Rule 10b5-1 (1) Non-Rule 10b5-1 (2) Number of Shares to be Sold Expiration Godfrey Sullivan, Director Termination December 12, 2023 X Up to 250,000 (175,000 shares were sold under the plan) Plan is terminated. Was scheduled to expire upon the earlier of the date when all shares under plan were sold and December 31, 2024 Shawn Henry, Chief Security Officer Adoption December 20, 2023 X Up to 119,224 (3) Earlier of when all shares under plan are sold and March 17, 2025 Burt Podbere, Chief Financial Officer Adoption December 29, 2023 X Up to 100,000 Earlier of when all shares under plan are sold and March 31, 2025 (1) Intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). (2) Not intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). (3) Intended to permit Mr. Henry to sell (i) 50,000 shares, (ii) 29,109 shares subject to RSUs and (iii) 40,115 shares subject to PSUs. The actual number of shares subject to PSUs that may be sold is subject to satisfaction of the applicable performance conditions and may be equal to, greater than or less than 40,115 shares. | |
Non-Rule 10b5-1 Arrangement Adopted | false | |
Non-Rule 10b5-1 Arrangement Terminated | false | |
Godfrey Sullivan [Member] | ||
Trading Arrangements, by Individual | ||
Name | Godfrey Sullivan | |
Title | Director | |
Rule 10b5-1 Arrangement Terminated | true | |
Termination Date | December 12, 2023 | |
Aggregate Available | 250,000 | 250,000 |
Shawn Henry [Member] | ||
Trading Arrangements, by Individual | ||
Name | Shawn Henry | |
Title | Chief Security Officer | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | December 20, 2023 | |
Arrangement Duration | 453 days | |
Aggregate Available | 119,224 | 119,224 |
Burt Podbere [Member] | ||
Trading Arrangements, by Individual | ||
Name | Burt Podbere | |
Title | Chief Financial Officer | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | December 29, 2023 | |
Arrangement Duration | 458 days | |
Aggregate Available | 100,000 | 100,000 |
Shawn Henry Trading Arragement, Shares [Member] | Shawn Henry [Member] | ||
Trading Arrangements, by Individual | ||
Aggregate Available | 50,000 | 50,000 |
Shawn Henry Trading Arragement, Restricted Stock Units [Member] | Shawn Henry [Member] | ||
Trading Arrangements, by Individual | ||
Aggregate Available | 29,109 | 29,109 |
Shawn Henry Trading Arragement, Performance Share Units [Member] | Shawn Henry [Member] | ||
Trading Arrangements, by Individual | ||
Aggregate Available | 40,115 | 40,115 |
Description of Business and S_2
Description of Business and Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain prior year information has been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or accumulated deficit. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such differences could be material to the Company’s consolidated financial statements. Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for credit losses, the useful lives of long-lived assets, the fair values of strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, stock-based compensation, and the fair value of assets acquired and liabilities assumed in business combinations. |
Concentration of Credit Risk and Geographic Information | Concentration of Credit Risk and Geographic Information The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, short-term investments, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company has not experienced any credit loss relating to its cash, cash equivalents, short-term investments, or strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral. |
Cash Equivalents and Short-term Investments | Cash Equivalents and Short-term Investments The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Cash equivalents are mainly comprised of money market funds, U.S. Treasury bills, and time deposits. The Company had $3.1 billion and $1.6 billion of cash equivalents as of January 31, 2024 and January 31, 2023, respectively. |
Strategic Investments | Strategic Investments In July 2019, the Company agreed to commit up to $10.0 million to a newly formed entity, CrowdStrike Falcon Fund LLC (the “Original Falcon Fund”) in exchange for 50% of the sharing percentage of any distributions by the Original Falcon Fund. In December 2021, the Company agreed to commit an additional $50.0 million to a newly formed entity, CrowdStrike Falcon Fund II LLC (“Falcon Fund II”) in exchange for 50% of the sharing percentage of any distributions by Falcon Fund II. Further, entities associated with Accel also agreed to commit up to $10.0 million and $50.0 million, respectively, to the Original Falcon Fund and Falcon Fund II (collectively, the “Falcon Funds”), and collectively own the remaining 50% of the sharing percentage of the Falcon Funds. Both Falcon Funds are in the business of purchasing, selling, and investing in minority equity and convertible debt securities of privately-held companies that develop applications that have potential for substantial contribution to CrowdStrike and its platform. The Company is the manager of the Falcon Funds and controls the investment decisions and day-to-day operations and accordingly has consolidated each of the Falcon Funds. Each Falcon Fund has a duration of ten years and may be extended for three The Company elected the measurement alternative for the non-marketable equity investments of the Falcon Funds where eligible. Under the measurement alternative, the non-marketable equity investments are measured at cost, less any impairment, plus or minus adjustments resulting from price changes from observable transactions of identical or similar securities of the same issuer. All gains and losses on strategic investments, realized and unrealized, are recognized in other income (expense), net. Strategic investments are classified within Level 3 in the fair value hierarchy as these investments do not have readily determinable market values. The carrying amount of strategic investments is adjusted based on observable price changes from observable transactions of identical or similar securities of the same issuer and other unobservable inputs including volatility, rights, and obligations of the investments, or by impairments when identified events and circumstances indicate a decline in value has occurred. The Company classifies the investments in the Falcon Funds as a non-current asset called strategic investments on the consolidated balance sheets. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s financial instruments consist of cash equivalents, short-term investments, strategic investments, accounts receivable, accounts payable, accrued expenses, the Senior Notes, and investments for the Company’s deferred compensation plan. The carrying values of cash equivalents, short-term investments, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. If these financial instruments were measured at fair value in the consolidated financial statements, money market funds, accounts receivable, accounts payable, accrued expenses, and investments for the Company’s deferred compensation plan would be classified as Level 1, and U.S. treasury securities included in cash equivalents and short-term investments would be classified as Level 2. The Senior Notes are carried at the initially allocated liability value less unamortized debt discount and issuance costs on the Company’s consolidated balance sheets. The Company discloses the fair value of the Senior Notes at each reporting period for disclosure purposes only. The Company's investments related to the deferred compensation plan are invested within a Rabbi Trust. Participants in the deferred compensation plan may select the securities in which their compensation deferrals are invested within the confines of the Rabbi Trust. These securities are marked-to-market each reporting period. Refer to Note 2, Investments and Fair Value Measurements, regarding the fair value of the Company’s non-marketable securities and deferred compensation investments and Note 4, Debt, for the fair value of the Company’s Senior Notes. |
Accounts Receivable | Accounts Receivable |
Segment Information | Segment Information |
Business Combinations | Business Combinations The Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. The purchase price allocation process requires management to make significant estimates and assumptions with respect to intangible assets. Although the Company believes the assumptions and estimates it has made are reasonable, they are based in part on historical experience, market conditions, and information obtained from management of the acquired companies and are inherently uncertain. Examples of judgments used to estimate the fair value of intangibles assets include, but are not limited to, future expected cash flows, expected customer attrition rates, estimated obsolescence rates, and discount rates. These estimates are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statements of operations. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The Company evaluates and tests goodwill for impairment at least annually, on January 31, or more frequently if circumstances indicate that goodwill may not be recoverable. A qualitative assessment is performed to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of its one reporting unit is less than its carrying value. In assessing the qualitative factors, the Company considers the impact of certain key factors including macroeconomic conditions, industry and market considerations, management turnover, changes in regulation, litigation matters, changes in enterprise value, and overall financial performance. If the Company determines it is more likely than not that the fair value of its one reporting unit is less than its carrying value, a quantitative test is performed by estimating the fair value of its reporting unit, including goodwill, and comparing it to its carrying value. If the fair value is lower than the carrying value, the excess is recognized as an impairment loss. No impairment losses were recorded during the fiscal years ended January 31, 2024, January 31, 2023, or January 31, 2022. See Note 3, Balance Sheet Components, and Note 11, Acquisitions, to the consolidated financial statements for more information. Acquired intangible assets mainly consisting of developed technology, customer relationships, intellectual property and other acquired intangible assets are stated at fair value at the acquisition date and are amortized on a straight-line basis over their estimated economic lives, which are generally one |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net, is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows: Data center and other computer equipment 3 – 5 years Furniture and equipment 5 years Purchased software 3 – 5 years Capitalized internal-use software and website development 3 years Leasehold improvements Estimated useful life or term of the lease, whichever is shorter Expenditures for routine maintenance and repairs are charged to operating expense as incurred. Major renewals and improvements are capitalized and depreciated over their estimated useful lives. The Company reviews for impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the asset (or asset group) may not be recoverable. Events and changes in circumstances considered by the Company in determining whether the carrying value of long-lived assets may not be recoverable, include, but are not limited to, significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, and changes in the Company’s business strategy. Impairment testing is performed at an asset level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (an “asset group”). An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset (or asset group) and its eventual disposition are less than its carrying amount. No impairment indicators were identified by the Company and no impairment losses were recorded by the Company during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022. |
Capitalized Internal-Use Software and Website Development Costs | Capitalized Internal-Use Software and Website Development Costs The Company capitalizes certain development costs incurred in connection with its internal-use software and website development. These capitalized costs are primarily related to the Company’s cloud-delivered solution for next-generation endpoint protection, as well as redefining, redesigning, and rebuilding crowdstrike.com. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct, are capitalized until the internal-use software and website are substantially complete and ready for their intended use. The Company contracts with third party information technology providers for various service arrangements including software, platform, and information technology infrastructure. The Company capitalizes the implementation costs incurred to develop or obtain internal-use software in such arrangements, which are recorded as part of property and equipment, net in the consolidated balance sheets. All capitalized implementation costs are amortized over the term of the arrangement, which includes reasonably certain renewals. Costs incurred during the preliminary project and post-implementation stages are expensed as the activities are performed. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as property and equipment, net. Maintenance and training costs are expensed as incurred. Internal-use software and website development costs are amortized to cost of revenue on a straight-line basis over its estimated useful life of three years. |
Deferred Contract Acquisition Costs | Deferred Contract Acquisition Costs Under ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers, the Company capitalizes contract acquisition costs that are incremental to the acquisition of customer contracts. Contract acquisition costs are accrued and capitalized upon execution of the sales contract by the customer. Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to referral partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of four years, while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contracts are amortized ratably over an estimated period of benefit of six months. |
Deferred Revenue | Deferred Revenue The deferred revenue balance consists of subscription and professional services, which have been invoiced upfront, and are recognized as revenue only when the revenue recognition criteria are met. The Company’s subscription contracts are typically invoiced to its customers at the beginning of the term, or in some instances, such as in multi-year arrangements, in installments. Professional services are invoiced upfront, invoiced in installments, or invoiced as the services are performed. Accordingly, the Company’s deferred revenue balance does not include revenue for future years of multi-year non-cancellable contracts that have not yet been billed. The Company recognizes subscription revenue ratably over the contract term beginning on the commencement date of each contract, the date that services are made available to customers. The Company recognizes professional services revenue as services are delivered. Once services are available to customers, the Company records amounts due in accounts receivable and in deferred revenue. To the extent the Company bills customers in advance of the contract commencement date, the accounts receivable and corresponding deferred revenue amounts are netted to zero on the consolidated balance sheets, unless such amounts have been paid as of the balance sheet date. |
Revenue Recognition | Revenue Recognition In accordance with ASU 2014-09, Revenue from Contracts with Customers (“ASC 606”), revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. To achieve the core principle of this standard, the Company applies the following five steps: (1) Identify the contract with a customer The Company considers the terms and conditions of contracts with customers and its customary business practices in identifying contracts under ASC 606. The Company determines it has a contract with a customer when the contract is approved, each party’s rights regarding the services to be transferred can be identified, payment terms for the services can be identified, it has been determined that the customer has the ability and intent to pay, and the contract has commercial substance. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. (2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from the Company or from third parties, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company’s performance obligations consist of (i) subscriptions and (ii) professional services. (3) Determine the transaction price The transaction price is determined based on the consideration to which the Company is expected to be entitled in exchange for transferring services to the customer. Variable consideration is included in the transaction price if it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of the Company’s contracts contain a significant financing component. (4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”). (5) Recognize revenue when or as performance obligations are satisfied Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to the customer. Revenue is recognized when control of the services is transferred to the customer, in an amount that reflects the consideration expected to be received in exchange for those services. The Company generates all its revenue from contracts with customers. Subscription Revenue The Company’s Falcon Platform technology solutions are subscription SaaS offerings designed to continuously monitor, share, and mitigate risks from determined attackers. Customers do not have the right to take possession of the cloud-based software platform. Fees are based on several factors, including the solutions subscribed for by the customer and the number of endpoints purchased by the customer. The subscription fees are typically payable within 30 to 60 days after the execution of the arrangement, and thereafter upon renewal or subsequent installment. The Company initially records the subscription fees as deferred revenue and recognizes revenue on a straight-line basis over the term of the agreement. The typical subscription term is one Professional Services Revenue The Company offers several types of professional services including incident response and forensic services, surge forensic and malware analysis, and attribution analysis, which are focused on responding to imminent and direct threats, assessing vulnerabilities, and recommending solutions. These services are distinct from subscription services. Professional services do not result in significant customization of the subscription service. The Company’s professional services are available through time and material and fixed fee agreements. Revenue for time and material agreements is recognized as services are performed. Fixed fee contracts account for an immaterial portion of the Company’s revenue. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple promised services consisting of subscription and professional services that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative SSP basis. The SSP is the price at which the Company would sell promised subscription or professional services separately to a customer. Judgment is required to determine the SSP for each distinct performance obligation. The Company determines SSP based on its overall pricing objectives, taking into consideration the type of subscription or professional service and the number of endpoints. Variable Consideration Revenue from sales is recorded at the net sales price, which is the transaction price, and may include estimates of variable consideration. The amount of variable consideration that is included in the transaction price is constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue will not occur when the uncertainty is resolved. If subscriptions do not meet certain service level commitments, the Company’s customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. The Company has historically not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription contracts. Accordingly, any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented. The Company provides rebates and other credits within its contracts with certain resellers, which are estimated based on the expected value to be earned or claimed on the related sales transaction. Overall, the transaction price is reduced to reflect the Company’s estimate of the amount of consideration to which it is entitled based on the terms of the contract. Estimated rebates and other credits were not material during the periods presented. |
Research and Development Expense | Research and Development Expense Research and development costs are expensed when incurred, except for certain internal-use software development costs, which may be capitalized as noted above. Research and development expenses consist primarily of personnel and related headcount costs, costs of professional services associated with the ongoing development of the Company’s technology, and allocated overhead. |
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Stock-Based Compensation | Stock-Based Compensation Compensation related to stock-based awards to employees and directors is measured and recognized in the Company’s consolidated statements of operations based on the fair value of the awards granted. The Company estimates the fair value of its stock options using the Black-Scholes option-pricing model. The stock-based compensation expense relating to stock options is recognized on a straight-line basis over the period during which the employee or director is required to provide service in exchange for the award, usually the vesting period, which is generally four years. Restricted stock units (“RSUs”) are generally subject to a service-based vesting condition. The service-based vesting condition is generally four years. The valuation of these RSUs is based solely on the Company’s stock price on the date of grant, and the corresponding compensation expense is amortized on a straight-line basis. Performance-based stock units (“PSUs”) are generally subject to both a service-based vesting condition and a performance-based vesting condition. The fair value of the award is equal to the Company’s stock price on the date of grant. PSUs generally vest over a four-year period, subject to continued service through the applicable vesting dates. The stock-based compensation expense relating to PSUs is recognized using the accelerated attribution method over the requisite service period when it is probable that the performance condition will be satisfied. The Special PSU Awards are subject to the Company’s achievement of specified stock price hurdles and a service-based vesting condition. The Company measured the fair value of the Special PSU Awards using a Monte Carlo simulation valuation model. The stock-based compensation expense relating to the Special PSU Awards is recognized using the accelerated attribution method over the longer of the derived service period and the explicit service period. Employee Stock Purchase Plan (“ESPP”) grants are measured based on the fair value at grant date using the Black-Scholes option-pricing model. The resulting stock-based compensation expense is recognized using the accelerated attribution method over a two-year offering period and is accounted for as having four separate tranches starting on the same initial enrollment date. The requisite service periods for the four tranches are approximately 6, 12, 18, and 24 months. The Company accounts for forfeitures as they occur for all stock-based awards. |
Deferred Compensation | Deferred Compensation In December 2022, the board of directors approved the CrowdStrike Inc. Deferred Compensation Plan (the “Plan”), effective January 1, 2023. The Plan is a non-qualified, deferred compensation arrangement that permits eligible employees to make 100% vested salary and incentive compensation deferrals within established limits. The Company does not make contributions to the Plan. The Plan’s assets consist of marketable securities held in a Rabbi Trust and are included in other long-term assets in the consolidated balance sheets because they are intended to fund the Plan’s long-term liabilities. They are not available for use in the Company’s daily operations and are not intended to be sold within a short period of time after purchase. The marketable securities were recorded at fair value based on quoted market prices and were $2.3 million and immaterial as of January 31, 2024 and January 31, 2023, respectively. The deferred compensation liability was $2.3 million and immaterial as of January 31, 2024 and January 31, 2023, respectively, and is included in other liabilities, noncurrent in the consolidated balance sheets. Gains and losses on deferred compensation investments are included in other income (expense), net, and corresponding changes in the deferred compensation liability are included in operating expenses and cost of revenue. Changes in the fair value of the deferred compensation asset and liability were immaterial for the fiscal years ended January 31, 2024 and January 31, 2023, respectively. |
Operating Leases | Operating Leases The Company enters into operating lease arrangements for real estate assets related to office space. The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including whether a vendor’s right to substitute an identified asset is substantive. Lease classification is determined at the lease commencement date, which is the date the leased assets are made available for use. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, current, and operating lease liabilities, noncurrent in the consolidated balance sheets. The Company did not have any financing leases in any of the periods presented. Operating lease right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist of the fixed payments under the arrangement, less any lease incentives, such as tenant improvement allowances. Variable costs, such as maintenance and utilities based on actual usage, are not included in the measurement of right-to-use (“ROU”) assets and lease liabilities but are expensed when the event determining the amount of variable consideration to be paid occurs. As the implicit rate of the leases is not determinable, the Company uses an incremental borrowing rate (“IBR”) based on the information available at the lease commencement date in determining the present value of lease payments. Lease expenses are recognized on a straight-line basis over the lease term. The Company uses the non-cancellable lease term when recognizing the ROU assets and lease liabilities, unless it is reasonably certain that a renewal or termination option will be exercised. The Company accounts for the lease and non-lease components as a single lease component. Leases with a term of twelve months or less are not recognized on the consolidated balance sheets but are recognized as expense on a straight-line basis over the term of the lease. |
Debt Issuance Costs | Debt Issuance Costs Debt issuance costs incurred in connection with securing the Company’s financing arrangements are generally presented in the consolidated balance sheets as a direct deduction from the carrying amount of the outstanding borrowings, consistent with debt discounts. However, the Company has chosen to present debt issuance costs under other long-term assets for its revolving credit facility on the consolidated balance sheets regardless of whether the Company has any outstanding borrowings on the revolving credit facility. Debt issuance costs, net of accumulated amortization, were $4.0 million and $4.5 million as of January 31, 2024 and January 31, 2023, respectively. Debt issuance costs associated with the Senior Notes are recorded as a reduction to the carrying value of the Senior Notes on the consolidated balance sheets. The unamortized issuance costs relating to the Senior Notes were $1.6 million and $2.0 million as of January 31, 2024 and January 31, 2023, respectively. |
Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions The functional currencies of the Company’s foreign subsidiaries are generally the country’s local currency. Assets and liabilities of the subsidiaries are translated into U.S. Dollars at exchange rates in effect at the reporting date. Amounts classified in stockholders’ equity (deficit) are translated at historical exchange rates. Revenue and expenses are translated at the average exchange rates during the period. The resulting translation adjustments are recorded in accumulated other comprehensive loss. Foreign currency transaction gains or losses, whether realized or unrealized, are reflected in the consolidated statements of operations within other income (expense), net, and have not been material for all periods presented. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement and tax basis of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for unrecognized tax benefits using a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. The Company establishes a liability for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. The Company’s assumptions, judgments, and estimates relative to the current provision for income taxes take into account current tax laws, the Company’s interpretation of current tax laws, and possible outcomes of current and future audits conducted by foreign and domestic tax authorities. The Company has established reserves for income taxes to address potential exposures involving tax positions that could be challenged by tax authorities. In addition, the Company is subject to the continual examination of its income tax returns by the U.S. Internal Revenue Service (“IRS”) and other domestic and foreign tax authorities. The Company regularly assesses the likelihood of outcomes resulting from these examinations to determine the adequacy of its provision for income taxes and have reserved for potential adjustments that may result from such examinations. The Company believes such estimates to be reasonable; however, the final determination of any of these examinations could significantly impact the amounts provided for income taxes in the Company’s consolidated financial statements. |
Net Income (Loss) per Share | Net Income (Loss) per Share The Company computes basic and diluted net income (loss) per share attributable to common stockholders for Class A and Class B common stock using the two-class method required for participating securities. Under the two-class method, basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of outstanding stock options, RSUs, PSUs, Special PSUs, ESPP obligations, and founder holdbacks. The dilutive potential shares are computed using the treasury stock method. The effects of the outstanding stock options, RSUs, PSUs, Special PSUs, ESPP obligations, and founders holdbacks are excluded from the computation of the diluted earnings per share in periods in which the effect would be anti-dilutive. |
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements | Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. For public business entities, this ASU was effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The Company adopted this guidance on February 1, 2023, which did not have a material effect on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, a final standard on improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions and applies to all entities subject to income taxes. The new standard is effective for annual periods beginning after December 15, 2024. The Company does not expect the adoption of this new guidance to have a material impact on its disclosures within the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The standard requires disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, an amount for other segment items required to reconcile the difference between segment revenue and segment expenses to segment profit or loss along with a description of their composition, and the title and position of the entity's CODM. The update also expands interim segment disclosure requirements. The new standard is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the impact of this new guidance on its disclosures within the consolidated financial statements. |
Description of Business and S_3
Description of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Accounting Policies [Abstract] | |
Schedule of Property Plant and Equipment, Useful Life | Property and equipment, net, is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows: Data center and other computer equipment 3 – 5 years Furniture and equipment 5 years Purchased software 3 – 5 years Capitalized internal-use software and website development 3 years Leasehold improvements Estimated useful life or term of the lease, whichever is shorter |
Investments and Fair Value Me_2
Investments and Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Schedule of Company's Fair Value Hierarchy for its Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis | The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands): January 31, 2024 January 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Cash equivalents (2) Money market funds $ 2,360,173 $ — $ — $ 2,360,173 $ 64,752 $ — $ — $ 64,752 U.S. Treasury securities — 693,599 — 693,599 — — — — Short-term investments (1) U.S. Treasury securities — 99,591 — 99,591 — — — — Other assets Deferred compensation investments 2,271 — — 2,271 64 — — 64 Total assets $ 2,362,444 $ 793,190 $ — $ 3,155,634 $ 64,816 $ — $ — $ 64,816 _______________________________________ (1) $250.0 million of time deposits, which are included in short-term investments, are excluded since they are carried at cost and approximate fair value as of January 31, 2023. (2) Cash equivalents exclude $1.6 billion of time deposits, which are carried at cost and approximate fair value as of January 31, 2023. |
Schedule of Strategic Investments | The following summarizes the changes in the net carrying value of strategic investments, which are Level 3, within the fair value hierarchy for the fiscal years ended January 31, 2024 and January 31, 2023 (in thousands): January 31, 2024 2023 Carrying amount, beginning of period $ 47,270 $ 23,632 Adjustments related to non-marketable securities: Purchases 17,177 21,807 Unrealized net gains (loss) due to changes in fair value (1,459) 1,831 Sales of investments (6,838) — Other 94 — Carrying amount, end of period $ 56,244 $ 47,270 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands): January 31, 2024 2023 Data center and other computer equipment $ 525,890 $ 297,585 Capitalized internal-use software and website development costs 183,117 113,276 Leasehold improvements 39,168 24,944 Purchased software 10,907 6,384 Furniture and equipment 8,524 7,412 Construction in progress 190,832 259,013 958,438 708,614 Less: Accumulated depreciation and amortization (338,266) (216,279) Property and equipment, net $ 620,172 $ 492,335 |
Schedule of Intangible Assets, Net | Total intangible assets, net consisted of the following (dollars in thousands): January 31, 2024 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in months) Developed technology $ 131,346 $ 41,854 $ 89,492 60 Customer relationships 17,027 5,825 11,202 68 Intellectual property and other acquired intangible assets 15,842 2,018 13,824 123 Total $ 164,215 $ 49,697 $ 114,518 January 31, 2023 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in months) Developed technology $ 101,452 $ 25,866 $ 75,586 68 Customer relationships 12,032 3,831 8,201 61 Intellectual property and other acquired intangible assets 4,717 1,615 3,102 147 Total $ 118,201 $ 31,312 $ 86,889 |
Schedule of Estimated Aggregate Future Amortization Expense of Intangible Assets | The estimated aggregate future amortization expense of intangible assets as of January 31, 2024 was as follows (in thousands): Total Fiscal 2025 $ 23,089 Fiscal 2026 21,990 Fiscal 2027 19,817 Fiscal 2028 19,326 Fiscal 2029 16,573 Thereafter 13,723 Total amortization expense $ 114,518 |
Schedule of Goodwill | The change in goodwill during the fiscal year ended January 31, 2024 consisted of the following (in thousands): Amounts Goodwill as of January 31, 2023 $ 430,645 Goodwill acquired (1) 207,450 Foreign currency translation (54) Goodwill as of January 31, 2024 $ 638,041 __________________________________ (1) Goodwill acquired resulted from the acquisition of Bionic Technology. Refer to Note 11 for additional information. |
Schedule of Accrued Expenses | Accrued expenses consisted of the following (in thousands): January 31, 2024 2023 Web hosting services $ 40,706 $ 65,589 Accrued purchases of property and equipment 16,190 20,157 Accrued marketing 14,623 11,435 Accrued partner commissions 13,584 5,800 Other accrued expenses 13,512 9,487 Accrued professional services 11,867 13,281 Accrued interest expense 10,375 10,375 Accrued health benefits and claims 5,039 1,760 Accrued expenses $ 125,896 $ 137,884 |
Schedule of Accrued Payroll and Benefits | Accrued payroll and benefits consisted of the following (in thousands): January 31, 2024 2023 Accrued commissions $ 116,870 $ 77,287 Accrued payroll and related expenses 58,579 39,907 Accrued bonuses 36,860 34,098 Employee Stock Purchase Plan 22,315 17,475 Accrued payroll and benefits $ 234,624 $ 168,767 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income (Loss) before Income Tax, Domestic and Foreign | The Company’s geographical breakdown of its income (loss) before provision for income taxes for the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022 is as follows (in thousands): Year Ended January 31, 2024 2023 2022 Domestic $ 99,241 $ (195,042) $ (179,334) International 23,576 35,159 19,311 Income (loss) before provision for income taxes $ 122,817 $ (159,883) $ (160,023) |
Schedule of Components of Income Tax Expense (Benefit) | The components of the provision for income taxes during the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022 are as follows (in thousands): Year Ended January 31, 2024 2023 2022 Current Federal $ 272 $ — $ — State 4,462 855 611 Foreign 30,885 20,241 85,700 Total current 35,619 21,096 86,311 Deferred Federal (307) 135 (363) State (343) 89 (63) Foreign (2,737) 1,082 (13,530) Total deferred (3,387) 1,306 (13,956) Provision for income taxes $ 32,232 $ 22,402 $ 72,355 |
Schedule of Effective Income Tax Rate Reconciliation | The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes during the fiscal years ended January 31, 2024 , January 31, 2023, and January 31, 2022 (in thousands): As of January 31, 2024 2023 2022 Provision for income taxes at statutory rate $ 25,527 $ (33,777) $ (33,605) State income taxes, net of federal benefits 4,118 944 673 Foreign tax rate differential 22,425 11,003 574 Research and other credits (21,182) (19,465) (19,113) Stock-based compensation (31,852) (47,335) (145,964) Non-deductible expenses 4,604 2,800 2,783 Change in valuation allowance 28,810 102,892 210,680 Tax impact of restructuring — 5,340 57,236 Other (218) — (909) Provision for income taxes $ 32,232 $ 22,402 $ 72,355 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities as of January 31, 2024 and January 31, 2023 are as follows (in thousands): As of January 31, 2024 2023 Deferred tax assets Net operating loss carryforwards $ 420,803 $ 441,352 Research and other credit carryforwards 100,002 75,712 Intangible assets 81,551 62,650 Stock-based compensation 33,885 44,861 Deferred revenue 169,777 109,919 Accrued expenses 23,956 17,890 Operating lease liabilities 20,613 13,013 Capitalized research and development 320,708 286,124 Gross deferred assets 1,171,295 1,051,521 Less: Valuation allowance (957,710) (910,070) Total deferred tax assets 213,585 141,451 Deferred tax liabilities Property and equipment, net (51,335) (24,096) Capitalized commissions (128,302) (99,397) Intangible assets (6,489) — Operating right-of-use assets (19,956) (12,285) Other, net (277) (1,220) Total deferred tax liabilities (206,359) (136,998) Net deferred tax assets $ 7,226 $ 4,453 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a rollforward of the total gross unrecognized tax benefits for the fiscal years ended January 31, 2024, January 31, 2023, and January 31, 2022 (in thousands): Balance as of February 1, 2021 $ 24,447 Increases in prior period tax positions 186 Decreases in prior period tax positions (9,772) Increases in current period tax positions 11,463 Balance as of January 31, 2022 26,324 Decreases in prior period tax positions (2,122) Increases in current period tax positions 12,699 Balance as of January 31, 2023 36,901 Increases in prior period tax positions 4,757 Decreases in prior period tax positions (1,321) Increases in current period tax positions 18,538 Balance as of January 31, 2024 $ 58,875 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Leases [Abstract] | |
Schedule of Component of Lease Costs | The components of lease costs were as follows (in thousands): Year Ended January 31, 2024 2023 2022 Lease cost Operating lease cost $ 15,510 $ 11,084 $ 11,262 Short-term lease cost 3,664 2,344 1,918 Variable lease cost 8,480 8,279 4,874 Total lease cost $ 27,654 $ 21,707 $ 18,054 |
Schedule of Future Minimum Payments, Leases | The maturities of the Company’s non-cancellable operating lease liabilities are as follows (in thousands): January 31, 2024 Fiscal 2025 $ 15,290 Fiscal 2026 13,567 Fiscal 2027 8,585 Fiscal 2028 8,269 Fiscal 2029 4,482 Thereafter 6,078 Total operating lease payments 56,271 Less: imputed interest (5,891) Present value of operating lease liabilities $ 50,380 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of stock options was generally estimated on the date of grant using the following assumptions during the fiscal year ended January 31, 2022: Year Ended January 31, 2022 Expected term (in years) 3.82 – 5.63 Risk-free interest rate 0.6% – 1.0% Expected stock price volatility 36.1% – 37.1% Dividend yield — % The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine the fair value of employee stock purchase rights granted under the Company’s stock plan: Year Ended January 31, 2024 2023 2022 Expected term (in years) 0.5 – 2.0 0.5 – 2.0 0.5 – 2.0 Risk-free interest rate 0.2% – 5.3% 0.1% – 4.7% 0.0% – 1.9% Expected stock price volatility 40.8% – 61.2% 39.6% – 67.4% 33.0% – 55.9% Dividend yield — % — % — % |
Share-based Payment Arrangement, Option, Activity | The following table is a summary of stock option activity for the fiscal year ended January 31, 2024: Number of Weighted- (in thousands) Options outstanding at January 31, 2023 2,869 $ 8.52 Granted 51 $ 39.09 Exercised (1,146) $ 7.58 Canceled (20) $ 65.82 Options outstanding at January 31, 2024 1,754 $ 9.37 Options vested and expected to vest at January 31, 2024 1,754 $ 9.37 Options exercisable at January 31, 2024 1,591 $ 8.98 |
Share-based Payment Arrangement, Restricted Stock Unit, Performance Stock Unit, and Special Performance Stock Unit Award, Activity | The following table is a summary of RSUs, PSUs, and the Special PSU Awards activities for the fiscal year ended January 31, 2024: Number of Weighted-Average (in thousands) RSUs and PSUs outstanding at January 31, 2023 10,050 $ 158.08 Granted 6,312 $ 158.87 Released (4,041) $ 136.75 Performance adjustment (1) 155 $ 211.22 Forfeited (1,508) $ 163.54 RSUs and PSUs outstanding at January 31, 2024 10,968 $ 167.84 RSUs and PSUs expected to vest at January 31, 2024 (2) 10,263 $ 164.78 ___________________________ (1) The performance adjustment represents adjustments in shares outstanding due to the actual achievement of performance-based awards, the achievement of which was based upon pre-defined financial performance targets. (2) Excludes in progress PSUs and Special PSUs where pre-defined targets have not yet been achieved. |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | Stock-based compensation expense included in the consolidated statements of operations is as follows (in thousands): Year Ended January 31, 2024 2023 2022 Subscription cost of revenue $ 43,886 $ 32,091 $ 22,044 Professional services cost of revenue 22,302 15,692 10,050 Sales and marketing 175,808 151,919 89,634 Research and development 205,896 174,711 102,027 General and administrative 183,627 152,091 86,197 Total stock-based compensation expense $ 631,519 $ 526,504 $ 309,952 |
Revenue, Deferred Revenue and_2
Revenue, Deferred Revenue and Remaining Performance Obligations (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Schedule of Disaggregation of Revenue | The following table summarizes revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service (in thousands, except percentages): Year Ended January 31, 2024 2023 2022 Amount % Revenue Amount % Revenue Amount % Revenue United States $ 2,088,054 68 % $ 1,563,567 70 % $ 1,046,474 72 % Europe, Middle East, and Africa 467,928 15 % 327,929 15 % 200,198 14 % Asia Pacific 315,524 10 % 228,124 10 % 142,686 10 % Other 184,049 7 % 121,616 5 % 62,236 4 % Total revenue $ 3,055,555 100 % $ 2,241,236 100 % $ 1,451,594 100 % |
Schedule of Changes in Deferred Revenue | Changes in deferred revenue were as follows (in thousands): Year Ended January 31, 2024 2023 Beginning balance $ 2,355,113 $ 1,529,321 Additions to deferred revenue 3,754,541 3,067,028 Recognition of deferred revenue (3,055,555) (2,241,236) Ending balance $ 3,054,099 $ 2,355,113 |
Schedule of Capitalized Contract Cost | The following table summarizes the activity of deferred contract acquisition costs (in thousands): Year Ended January 31, 2024 2023 Beginning balance $ 447,088 $ 319,180 Capitalization of contract acquisition costs 374,116 298,716 Amortization of deferred contract acquisition costs (238,901) (170,808) Ending balance $ 582,303 $ 447,088 Deferred contract acquisition costs, current $ 246,370 $ 186,855 Deferred contract acquisition costs, noncurrent 335,933 260,233 Total deferred contract acquisition costs $ 582,303 $ 447,088 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Recorded Unconditional Purchase Obligations | A summary of non-cancellable purchase obligations in excess of one year as of January 31, 2024, with expected date of payment is as follows (in thousands): Total Fiscal 2025 $ 220,707 Fiscal 2026 163,323 Fiscal 2027 124,015 Fiscal 2028 118,754 Fiscal 2029 95,956 Thereafter 24,876 Total purchase commitments $ 747,631 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Segment Reporting [Abstract] | |
Summary of Geographic Area | The Company’s property and equipment, net and operating lease right-of-use assets, are summarized by geographic area as follows (in thousands): January 31, 2024 2023 United States $ 539,580 $ 433,756 Germany 84,488 67,278 Other countries 44,315 31,237 Total property and equipment, net and operating lease right-of-use assets $ 668,383 $ 532,271 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollars in thousands): Fair Value Useful Life (in months) Developed technology $ 29,900 72 Customer relationships 5,000 96 Total intangible assets acquired $ 34,900 |
Net Income (Loss) Per Share A_2
Net Income (Loss) Per Share Attributable to Common Stockholders (Tables) | 12 Months Ended |
Jan. 31, 2024 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic and diluted net income (loss) per share attributable to CrowdStrike common stockholders (in thousands, except per share data): Year Ended January 31, 2024 2023 2022 Numerator: Net income (loss) attributable to Class A and Class B CrowdStrike common stockholders $ 89,327 $ (183,245) $ (234,802) Denominator: Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B of CrowdStrike common stockholders, basic 238,637 233,139 227,142 Dilutive effect of common stock equivalents 4,998 — — Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B of CrowdStrike common stockholders, dilutive 243,635 233,139 227,142 Net income (loss) per share attributable to Class A and Class B CrowdStrike common stockholders, basic $ 0.37 $ (0.79) $ (1.03) Net income (loss) per share attributable to Class A and Class B CrowdStrike common stockholders, diluted $ 0.37 $ (0.79) $ (1.03) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The potential shares of common stock that were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows (in thousands): Year Ended January 31, 2024 2023 2022 Shares of common stock subject to repurchase from outstanding stock options — — 198 RSUs and PSUs subject to future vesting 3,125 10,050 7,886 Shares of common stock issuable from stock options 1 2,869 3,938 Share purchase rights under the Employee Stock Purchase Plan 411 4,481 642 Potential common shares excluded from diluted net income (loss) per share 3,537 17,400 12,664 |
Description of Business and S_4
Description of Business and Significant Accounting Policies - Narrative (Details) | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2022 | Jul. 31, 2019 USD ($) | Jan. 31, 2024 USD ($) segment reporting_unit | Jan. 31, 2023 USD ($) | Jan. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Concentration Risk [Line Items] | ||||||
Cash equivalents | $ 3,100,000,000 | $ 1,600,000,000 | ||||
Short-term investments | $ 99,591,000 | 250,000,000 | ||||
Falcon fund term | 10 years | |||||
Term of extension | 3 years | |||||
Number of reportable segments | segment | 1 | |||||
Number of operating segments | segment | 1 | |||||
Number of reporting units | reporting_unit | 1 | |||||
Goodwill impairment loss | $ 0 | 0 | $ 0 | |||
Impairment losses of property and equipment | $ 0 | 0 | 0 | |||
Commission amortization period | 4 years | |||||
Professional service contract amortization period | 6 months | |||||
Advertising expense | $ 79,900,000 | 53,800,000 | 50,500,000 | |||
Vesting period | 4 years | |||||
Deferred financing costs, net | $ 4,000,000 | 4,500,000 | ||||
Amortization of debt issuance costs | 1,600,000 | 1,300,000 | $ 1,000,000 | |||
Vested salary and incentive compensation percentage | 100% | |||||
Marketable securities | 2,300,000 | 0 | ||||
Deferred compensation liability | $ 2,300,000 | 0 | ||||
Tranche One | ||||||
Concentration Risk [Line Items] | ||||||
Requisite service period | 6 months | |||||
Tranche Two | ||||||
Concentration Risk [Line Items] | ||||||
Requisite service period | 12 months | |||||
Tranche Three | ||||||
Concentration Risk [Line Items] | ||||||
Requisite service period | 18 months | |||||
Tranche Four | ||||||
Concentration Risk [Line Items] | ||||||
Requisite service period | 24 months | |||||
Senior Notes | ||||||
Concentration Risk [Line Items] | ||||||
Unamortized issuance costs | $ 1,600,000 | $ 2,000,000 | ||||
RSUs | ||||||
Concentration Risk [Line Items] | ||||||
Vesting period | 4 years | |||||
PSUs | ||||||
Concentration Risk [Line Items] | ||||||
Vesting period | 4 years | |||||
Employee Stock Purchase Plan | ||||||
Concentration Risk [Line Items] | ||||||
Vesting period | 2 years | |||||
Capitalized internal-use software and website development | ||||||
Concentration Risk [Line Items] | ||||||
Useful life | 3 years | |||||
Accel | Crowdstrike Falcon Fund Llc | ||||||
Concentration Risk [Line Items] | ||||||
Sharing percentage | 50% | |||||
Maximum | ||||||
Concentration Risk [Line Items] | ||||||
Useful life | 20 years | |||||
Subscription fees payable term | 60 days | |||||
Subscription term | 3 years | |||||
Maximum | Accel | Crowdstrike Falcon Fund Llc | ||||||
Concentration Risk [Line Items] | ||||||
Amount agreed to commit | $ 10,000,000 | $ 50,000,000 | ||||
Minimum | ||||||
Concentration Risk [Line Items] | ||||||
Useful life | 1 year | |||||
Subscription fees payable term | 30 days | |||||
Subscription term | 1 year |
Description of Business and S_5
Description of Business and Significant Accounting Policies - Property and Equipment, Net (Details) | Jan. 31, 2024 |
Furniture and equipment | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Capitalized internal-use software and website development | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Minimum | Data center and other computer equipment | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Minimum | Purchased software | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Maximum | Data center and other computer equipment | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Maximum | Purchased software | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Investments and Fair Value Me_3
Investments and Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | $ 99,591 | $ 250,000 |
Cash equivalents | 3,100,000 | 1,600,000 |
Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 3,155,634 | 64,816 |
Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 2,360,173 | 64,752 |
U.S. Treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 693,599 | 0 |
Short-term investments | 99,591 | 0 |
Deferred compensation investments | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Deferred compensation investments | 2,271 | 64 |
Level 1 | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 2,362,444 | 64,816 |
Level 1 | Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 2,360,173 | 64,752 |
Level 1 | U.S. Treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Short-term investments | 0 | 0 |
Level 1 | Deferred compensation investments | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Deferred compensation investments | 2,271 | 64 |
Level 2 | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 793,190 | 0 |
Level 2 | Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Level 2 | U.S. Treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 693,599 | 0 |
Short-term investments | 99,591 | 0 |
Level 2 | Deferred compensation investments | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Deferred compensation investments | 0 | 0 |
Level 3 | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Level 3 | Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Level 3 | U.S. Treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Short-term investments | 0 | 0 |
Level 3 | Deferred compensation investments | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Deferred compensation investments | $ 0 | $ 0 |
Investments and Fair Value Me_4
Investments and Fair Value Measurements - Strategic Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Strategic Investments [Roll Forward] | ||
Carrying amount, beginning of period | $ 47,270 | $ 23,632 |
Purchases | 17,177 | 21,807 |
Unrealized net gains (loss) due to changes in fair value | (1,459) | 1,831 |
Sales of investments | (6,838) | 0 |
Other | 94 | 0 |
Carrying amount, end of period | $ 56,244 | $ 47,270 |
Investments and Fair Value Me_5
Investments and Fair Value Measurements - Narrative (Details) $ in Millions | 12 Months Ended |
Jan. 31, 2024 USD ($) | |
Fair Value Disclosures [Abstract] | |
Cumulative unrealized gains on strategic investments | $ 9.3 |
Cumulative unrealized losses on strategic investments | $ 4.4 |
Balance Sheet Components - Prop
Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 958,438 | $ 708,614 |
Less: Accumulated depreciation and amortization | (338,266) | (216,279) |
Property and equipment, net | 620,172 | 492,335 |
Data center and other computer equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 525,890 | 297,585 |
Capitalized internal-use software and website development costs | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 183,117 | 113,276 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 39,168 | 24,944 |
Purchased software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 10,907 | 6,384 |
Furniture and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 8,524 | 7,412 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 190,832 | $ 259,013 |
Balance Sheet Components - Narr
Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization expense | $ 126,800 | $ 77,200 | $ 54,400 |
Capitalized amount of internal use software | 77,900 | 49,300 | 30,700 |
Amortization expense associated with internal use software | 37,300 | 21,500 | 12,400 |
Net book value of capitalized internal use software | 106,900 | 66,300 | |
Amortization of intangible assets | 18,416 | 16,565 | $ 12,902 |
Data center and other computer equipment | |||
Property, Plant and Equipment [Line Items] | |||
Equipment additions | $ 167,500 | $ 245,400 |
Balance Sheet Components - Inta
Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 164,215 | $ 118,201 |
Accumulated Amortization | 49,697 | 31,312 |
Net Amount | 114,518 | 86,889 |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 131,346 | 101,452 |
Accumulated Amortization | 41,854 | 25,866 |
Net Amount | $ 89,492 | $ 75,586 |
Weighted-Average Remaining Useful Life | 60 months | 68 months |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 17,027 | $ 12,032 |
Accumulated Amortization | 5,825 | 3,831 |
Net Amount | $ 11,202 | $ 8,201 |
Weighted-Average Remaining Useful Life | 68 months | 61 months |
Intellectual property and other acquired intangible assets | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 15,842 | $ 4,717 |
Accumulated Amortization | 2,018 | 1,615 |
Net Amount | $ 13,824 | $ 3,102 |
Weighted-Average Remaining Useful Life | 123 months | 147 months |
Balance Sheet Components - Esti
Balance Sheet Components - Estimated Aggregate Future Expense (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Fiscal 2025 | $ 23,089 | |
Fiscal 2026 | 21,990 | |
Fiscal 2027 | 19,817 | |
Fiscal 2028 | 19,326 | |
Fiscal 2029 | 16,573 | |
Thereafter | 13,723 | |
Net Amount | $ 114,518 | $ 86,889 |
Balance Sheet Components - Good
Balance Sheet Components - Goodwill (Details) $ in Thousands | 12 Months Ended |
Jan. 31, 2024 USD ($) | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | $ 430,645 |
Foreign currency translation | (54) |
Goodwill, ending balance | 638,041 |
Bionic | |
Goodwill [Roll Forward] | |
Goodwill acquired | $ 207,450 |
Balance Sheet Components - Accr
Balance Sheet Components - Accrued Expenses (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Web hosting services | $ 40,706 | $ 65,589 |
Accrued purchases of property and equipment | 16,190 | 20,157 |
Accrued marketing | 14,623 | 11,435 |
Accrued partner commissions | 13,584 | 5,800 |
Other accrued expenses | 13,512 | 9,487 |
Accrued professional services | 11,867 | 13,281 |
Accrued interest expense | 10,375 | 10,375 |
Accrued health benefits and claims | 5,039 | 1,760 |
Accrued expenses | $ 125,896 | $ 137,884 |
Balance Sheet Components - Ac_2
Balance Sheet Components - Accrued Payroll and Benefits (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Accrued commissions | $ 116,870 | $ 77,287 |
Accrued payroll and related expenses | 58,579 | 39,907 |
Accrued bonuses | 36,860 | 34,098 |
Employee Stock Purchase Plan | 22,315 | 17,475 |
Accrued payroll and benefits | $ 234,624 | $ 168,767 |
Debt (Details)
Debt (Details) | 12 Months Ended | ||||||
Jan. 06, 2022 | Jan. 20, 2021 USD ($) | Jan. 31, 2024 USD ($) | Jan. 31, 2023 USD ($) | Jan. 31, 2022 USD ($) | Jan. 04, 2021 USD ($) | Apr. 30, 2019 USD ($) | |
Line of Credit Facility [Line Items] | |||||||
Interest expense | $ 25,756,000 | $ 25,319,000 | $ 25,231,000 | ||||
A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum consolidated interest coverage ratio | 3 | ||||||
Maximum total leverage ratio | 5.50 | ||||||
Maximum total leverage ratio, stepped down | 3.50 | ||||||
A&R Credit Agreement | Minimum | |||||||
Line of Credit Facility [Line Items] | |||||||
Commitment fee percentage | 0.15% | ||||||
A&R Credit Agreement | Maximum | |||||||
Line of Credit Facility [Line Items] | |||||||
Commitment fee percentage | 0.25% | ||||||
3.00% Senior Notes | Senior Notes | |||||||
Line of Credit Facility [Line Items] | |||||||
Aggregate principal amount | $ 750,000,000 | ||||||
Stated interest rate | 3% | ||||||
Percentage of original principal amount | 40% | ||||||
Proceeds from issuance of Senior Notes, net of debt financing costs | $ 738,000,000 | ||||||
Underwriting commissions | 9,400,000 | ||||||
Payments of financing costs | $ 2,600,000 | ||||||
Interest expense | $ 24,000,000 | 24,000,000 | |||||
Debt instrument, fair value | 671,200,000 | $ 645,400,000 | |||||
3.00% Senior Notes | Senior Notes | Prior to February 15, 2024 | Plus "Make Whole" Premium | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 100% | ||||||
3.00% Senior Notes | Senior Notes | Prior to February 15, 2024 | Proceeds From Equity Offering, Provided Principal Amount of Redemptions Does Not Exceed 40% | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 103% | ||||||
3.00% Senior Notes | Senior Notes | After February 15, 2024 | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 101.50% | ||||||
3.00% Senior Notes | Senior Notes | After February 15, 2025 | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 100.75% | ||||||
3.00% Senior Notes | Senior Notes | After February 15, 2026 | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 100% | ||||||
3.00% Senior Notes | Senior Notes | Change of control event | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 101% | ||||||
Revolving Credit Facility | |||||||
Line of Credit Facility [Line Items] | |||||||
Maximum borrowing capacity | $ 150,000,000 | ||||||
Line of credit amount outstanding | $ 0 | ||||||
Revolving Credit Facility | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Maximum borrowing capacity | $ 750,000,000 | ||||||
Incremental borrowing capacity | 250,000,000 | ||||||
Letter of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Maximum borrowing capacity | 10,000,000 | ||||||
Letter of Credit | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Maximum borrowing capacity | 100,000,000 | ||||||
Swingline Facility | |||||||
Line of Credit Facility [Line Items] | |||||||
Maximum borrowing capacity | $ 10,000,000 | ||||||
Swingline Facility | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Maximum borrowing capacity | $ 50,000,000 | ||||||
Alternate Base Rate Loans | A&R Credit Agreement | Fed Funds Effective Rate Overnight Index Swap Rate | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 0.50% | ||||||
Alternate Base Rate Loans | A&R Credit Agreement | Eurodollar | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 1% | ||||||
Alternate Base Rate Loans | A&R Credit Agreement | Eurodollar | Minimum | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | (25.00%) | ||||||
Alternate Base Rate Loans | A&R Credit Agreement | Eurodollar | Maximum | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 0.25% |
Income Taxes - Geographical Bre
Income Taxes - Geographical Breakdown (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 99,241 | $ (195,042) | $ (179,334) |
International | 23,576 | 35,159 | 19,311 |
Income (loss) before provision for income taxes | $ 122,817 | $ (159,883) | $ (160,023) |
Income Taxes - Components of th
Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Current | |||
Federal | $ 272 | $ 0 | $ 0 |
State | 4,462 | 855 | 611 |
Foreign | 30,885 | 20,241 | 85,700 |
Total current | 35,619 | 21,096 | 86,311 |
Deferred | |||
Federal | (307) | 135 | (363) |
State | (343) | 89 | (63) |
Foreign | (2,737) | 1,082 | (13,530) |
Total deferred | (3,387) | 1,306 | (13,956) |
Provision for income taxes | $ 32,232 | $ 22,402 | $ 72,355 |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Income Tax Disclosure [Abstract] | |||
Provision for income taxes at statutory rate | $ 25,527 | $ (33,777) | $ (33,605) |
State income taxes, net of federal benefits | 4,118 | 944 | 673 |
Foreign tax rate differential | 22,425 | 11,003 | 574 |
Research and other credits | (21,182) | (19,465) | (19,113) |
Stock-based compensation | (31,852) | (47,335) | (145,964) |
Non-deductible expenses | 4,604 | 2,800 | 2,783 |
Change in valuation allowance | 28,810 | 102,892 | 210,680 |
Tax impact of restructuring | 0 | 5,340 | 57,236 |
Other | (218) | 0 | (909) |
Provision for income taxes | $ 32,232 | $ 22,402 | $ 72,355 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Operating Loss Carryforwards [Line Items] | ||||
Provision for income taxes | $ 32,232 | $ 22,402 | $ 72,355 | |
Valuation allowance increase (decrease), amount | 47,600 | 139,200 | 357,000 | |
Deferred tax assets, valuation allowance | 957,710 | 910,070 | 770,900 | |
Research and other credit carryforwards | 100,002 | 75,712 | ||
Unrecognized tax benefits | 58,875 | 36,901 | 26,324 | $ 24,447 |
Unrecognized tax benefits that would impact effective tax rate | 12,700 | |||
Interest and penalties | 1,400 | |||
Foreign Tax Authority | ||||
Operating Loss Carryforwards [Line Items] | ||||
Provision for income taxes | $ 4,700 | $ 57,200 | ||
Foreign Tax Authority | United Kingdom | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 78,000 | |||
Foreign Tax Authority | Israel | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 51,500 | |||
Domestic Tax Authority | Federal | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 1,500,000 | |||
Research and other credit carryforwards | 113,900 | |||
State and Local Jurisdiction | California | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 243,900 | |||
Research and other credit carryforwards | 27,400 | |||
State and Local Jurisdiction | Other States | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | $ 800,000 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 |
Deferred tax assets | |||
Net operating loss carryforwards | $ 420,803 | $ 441,352 | |
Research and other credit carryforwards | 100,002 | 75,712 | |
Intangible assets | 81,551 | 62,650 | |
Stock-based compensation | 33,885 | 44,861 | |
Deferred revenue | 169,777 | 109,919 | |
Accrued expenses | 23,956 | 17,890 | |
Operating lease liabilities | 20,613 | 13,013 | |
Capitalized research and development | 320,708 | 286,124 | |
Gross deferred assets | 1,171,295 | 1,051,521 | |
Less: Valuation allowance | (957,710) | (910,070) | $ (770,900) |
Total deferred tax assets | 213,585 | 141,451 | |
Deferred tax liabilities | |||
Property and equipment, net | (51,335) | (24,096) | |
Capitalized commissions | (128,302) | (99,397) | |
Intangible assets | (6,489) | 0 | |
Operating right-of-use assets | (19,956) | (12,285) | |
Other, net | (277) | (1,220) | |
Total deferred tax liabilities | (206,359) | (136,998) | |
Net deferred tax assets | $ 7,226 | $ 4,453 |
Income Taxes - Unrecognized Tax
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, beginning balance | $ 36,901 | $ 26,324 | $ 24,447 |
Increases in prior period tax positions | 4,757 | 186 | |
Decreases in prior period tax positions | (1,321) | (2,122) | (9,772) |
Increases in current period tax positions | 18,538 | 12,699 | 11,463 |
Unrecognized tax benefits, ending balance | $ 58,875 | $ 36,901 | $ 26,324 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Lessee, Lease, Description [Line Items] | |||
Cash payments | $ 15,400,000 | $ 12,000,000 | $ 11,800,000 |
Operating right of-use assets | $ 16,400,000 | $ 18,500,000 | |
Weighted average remaining lease term | 3 years 8 months 12 days | 3 years 6 months | |
Weighted average discount rate | 5.70% | 4.50% | |
Sublease income | $ 0 | $ 0 | $ 0 |
Leases - Lease Cost (Details)
Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Leases [Abstract] | |||
Operating lease cost | $ 15,510 | $ 11,084 | $ 11,262 |
Short-term lease cost | 3,664 | 2,344 | 1,918 |
Variable lease cost | 8,480 | 8,279 | 4,874 |
Total lease cost | $ 27,654 | $ 21,707 | $ 18,054 |
Leases - Maturities of Operatin
Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands | Jan. 31, 2024 USD ($) |
Leases [Abstract] | |
Fiscal 2025 | $ 15,290 |
Fiscal 2026 | 13,567 |
Fiscal 2027 | 8,585 |
Fiscal 2028 | 8,269 |
Fiscal 2029 | 4,482 |
Thereafter | 6,078 |
Total operating lease payments | 56,271 |
Less: imputed interest | (5,891) |
Present value of operating lease liabilities | $ 50,380 |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | 30 Months Ended | |||
May 31, 2019 purchase_period shares | Jan. 31, 2024 USD ($) installment day tranche change_in_contribution $ / shares shares | Jan. 31, 2023 USD ($) $ / shares shares | Jan. 31, 2022 USD ($) $ / shares | Dec. 12, 2024 USD ($) | May 31, 2021 shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Options unvested (in shares) | shares | 131,996 | |||||
Options, aggregate intrinsic value | $ 451,000 | $ 247,200 | $ 480,500 | |||
Options exercisable, weighted average contractual term | 4 years 2 months 12 days | 4 years 9 months 18 days | 5 years 8 months 12 days | |||
Weighted average grant date fair value (in dollars per share) | $ / shares | $ 126.16 | $ 116.26 | $ 180.08 | |||
Options exercised, intrinsic value | $ 190,100 | $ 166,800 | $ 570,900 | |||
Options outstanding, intrinsic value | $ 496,700 | $ 279,400 | $ 678,000 | |||
Options outstanding, weighted average remaining contractual term | 4 years 3 months 18 days | 5 years | 6 years 1 month 6 days | |||
Total unrecognized stock-based compensation expense, unvested options | $ 4,300 | |||||
Common stock shares issued, early exercised stock options | shares | 0 | 0 | ||||
Threshold consecutive trading days | day | 45 | |||||
ESPP employee payroll contributions | $ 234,624 | $ 168,767 | ||||
Stock options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expected amortization period, weighted average vesting period | 1 year | |||||
Number of shares of common stock related to early exercised stock options subject to repurchase (in shares) | shares | 0 | 0 | ||||
Stock options | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 0.60% | |||||
Expected stock price volatility | 36.10% | |||||
Stock options | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 1% | |||||
Expected stock price volatility | 37.10% | |||||
RSUs | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of vesting schedules | tranche | 4 | |||||
Vesting percentage | 25% | |||||
RSUs | Tranche One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of quarterly installments | installment | 12 | |||||
Vesting percentage | 10% | |||||
RSUs | Tranche Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of quarterly installments | installment | 16 | |||||
Vesting percentage | 15% | |||||
RSUs | Tranche Three | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of quarterly installments | installment | 8 | |||||
Vesting percentage | 25% | |||||
RSUs | Tranche Four | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 50% | |||||
Restricted Stock Units (RSUs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expected amortization period, weighted average vesting period | 2 years 9 months 18 days | |||||
Unrecognized stock based compensation expense, unvested RSUs | $ 1,500,000 | |||||
PSUs | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expected amortization period, weighted average vesting period | 1 year 2 months 12 days | |||||
Unrecognized stock based compensation expense, unvested RSUs | $ 76,000 | |||||
Special Performance-based Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expected amortization period, weighted average vesting period | 1 year 7 months 6 days | |||||
Number of quarterly installments | installment | 4 | |||||
Unrecognized stock based compensation expense, unvested RSUs | $ 30,700 | |||||
Historical volatility rate, weight | 50% | |||||
Historical volatility rate, weight | 50% | |||||
Special Performance-based Stock Units | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 0.85% | |||||
Expected stock price volatility | 54.89% | |||||
Look back period | 2 years 2 months 15 days | |||||
Special Performance-based Stock Units | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 1.51% | |||||
Expected stock price volatility | 55.36% | |||||
Look back period | 2 years 6 months 29 days | |||||
Special Performance-based Stock Units | Executive Officer | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted (in shares) | shares | 655,000 | |||||
Special Performance-based Stock Units | Tranche One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 50% | |||||
Special Performance-based Stock Units | Tranche Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 12.50% | |||||
Special Performance-based Stock Units | Tranche Three | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 12.50% | |||||
Special Performance-based Stock Units | Tranche Four | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 12.50% | |||||
Special Performance-based Stock Units | Tranche Five | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 12.50% | |||||
Employee Stock Purchase Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Threshold percentage, outstanding shares | 1% | |||||
Look back period | 2 years | |||||
Maximum number of additional shares of common stock that may be issued (in shares) | shares | 5,000,000 | |||||
ESPP, consecutive offering period | 24 months | |||||
ESPP, number of purchase periods | purchase_period | 4 | |||||
ESPP, purchase period duration | 6 months | |||||
ESPP, percentage of eligible compensation | 15% | |||||
Maximum number of shares purchasable (in shares) | shares | 2,500 | |||||
Purchase price of common stock, percentage | 85% | |||||
Number of increases in contribution | change_in_contribution | 1 | |||||
ESPP employee payroll contributions | $ 22,300 | $ 17,500 | ||||
Employee Stock Purchase Plan | Rollover Feature | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Plan modification, incremental cost | $ 7,300 | |||||
Employee Stock Purchase Plan | Rollover Feature | Forecast | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Plan modification, incremental cost | $ 58,600 | |||||
Employee Stock Purchase Plan | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 0.20% | 0.10% | 0% | |||
Expected stock price volatility | 40.80% | 39.60% | 33% | |||
Employee Stock Purchase Plan | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 5.30% | 4.70% | 1.90% | |||
Expected stock price volatility | 61.20% | 67.40% | 55.90% | |||
Employee Stock Purchase Plan | Class A common stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares authorized (in shares) | shares | 3,500,000 | |||||
ESPP, purchase period duration | 6 months | |||||
Equity Incentive Plan 2019 | Class A common stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares authorized (in shares) | shares | 8,750,000 | |||||
Threshold percentage, outstanding shares | 2% |
Stock-Based Compensation - Valu
Stock-Based Compensation - Valuation Assumption of Options (Details) | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0% | ||
Stock options | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 3 years 9 months 25 days | ||
Risk-free interest rate | 0.60% | ||
Expected stock price volatility | 36.10% | ||
Stock options | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 5 years 7 months 17 days | ||
Risk-free interest rate | 1% | ||
Expected stock price volatility | 37.10% | ||
Employee Stock Purchase Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0% | 0% | 0% |
Employee Stock Purchase Plan | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 months | 6 months | 6 months |
Risk-free interest rate | 0.20% | 0.10% | 0% |
Expected stock price volatility | 40.80% | 39.60% | 33% |
Employee Stock Purchase Plan | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 2 years | 2 years | 2 years |
Risk-free interest rate | 5.30% | 4.70% | 1.90% |
Expected stock price volatility | 61.20% | 67.40% | 55.90% |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Option Activity (Details) shares in Thousands | 12 Months Ended |
Jan. 31, 2024 $ / shares shares | |
Number of Shares | |
Options outstanding, beginning balance (in shares) | shares | 2,869 |
Granted (in shares) | shares | 51 |
Exercised (in shares) | shares | (1,146) |
Canceled (in shares) | shares | (20) |
Options outstanding, ending balance (in shares) | shares | 1,754 |
Options, vested and expected to vest (in shares) | shares | 1,754 |
Options exercisable (in shares) | shares | 1,591 |
Weighted- Average Exercise Price Per Share | |
Options outstanding, beginning balance, weighted average exercise price (in dollars per share) | $ / shares | $ 8.52 |
Granted (in dollars per share) | $ / shares | 39.09 |
Exercised (in dollars per share) | $ / shares | 7.58 |
Canceled (in dollars per share) | $ / shares | 65.82 |
Options outstanding, ending balance, weighted average exercise price (in dollars per share) | $ / shares | 9.37 |
Options vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | 9.37 |
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 8.98 |
Stock-Based Compensation - RSU
Stock-Based Compensation - RSU Activity (Details) - Share-Based Compensation Award, Other than Stock Options shares in Thousands | 12 Months Ended |
Jan. 31, 2024 $ / shares shares | |
Number of Shares | |
Shares outstanding at beginning of period (in shares) | shares | 10,050 |
Granted (in shares) | shares | 6,312 |
Released (in shares) | shares | (4,041) |
Performance adjustment (in shares) | shares | 155 |
Forfeited (in shares) | shares | (1,508) |
Shares outstanding at end of period (in shares) | shares | 10,968 |
RSUs and PSUs expected to vest (in shares) | shares | 10,263 |
Weighted-Average Grant Date Fair Value Per Share | |
Shares outstanding at beginning of period (in dollars per share) | $ / shares | $ 158.08 |
Granted (in dollars per share) | $ / shares | 158.87 |
Released (in dollars per share) | $ / shares | 136.75 |
Performance adjustment (in dollars per share) | $ / shares | 211.22 |
Forfeited (in dollars per share) | $ / shares | 163.54 |
Shares outstanding at end of period (in dollars per share) | $ / shares | 167.84 |
RSUs and PSUs expected to vest (in dollars per share) | $ / shares | $ 164.78 |
Stock-Based Compensation - Expe
Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | $ 631,519 | $ 526,504 | $ 309,952 |
Sales and marketing | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 175,808 | 151,919 | 89,634 |
Research and development | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 205,896 | 174,711 | 102,027 |
General and administrative | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 183,627 | 152,091 | 86,197 |
Subscription cost of revenue | Cost of revenue | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 43,886 | 32,091 | 22,044 |
Professional services cost of revenue | Cost of revenue | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | $ 22,302 | $ 15,692 | $ 10,050 |
Revenue, Deferred Revenue and_3
Revenue, Deferred Revenue and Remaining Performance Obligations - Revenue from Contracts by Type and Region (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 3,055,555 | $ 2,241,236 | $ 1,451,594 |
Percentage of Revenue | 100% | 100% | 100% |
United States | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 2,088,054 | $ 1,563,567 | $ 1,046,474 |
Percentage of Revenue | 68% | 70% | 72% |
Europe, Middle East, and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 467,928 | $ 327,929 | $ 200,198 |
Percentage of Revenue | 15% | 15% | 14% |
Asia Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 315,524 | $ 228,124 | $ 142,686 |
Percentage of Revenue | 10% | 10% | 10% |
Other | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 184,049 | $ 121,616 | $ 62,236 |
Percentage of Revenue | 7% | 5% | 4% |
Revenue, Deferred Revenue and_4
Revenue, Deferred Revenue and Remaining Performance Obligations - Narrative (Details) - USD ($) | 12 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Disaggregation of Revenue [Line Items] | ||
Revenue recognized, contract liabilities | $ 1,718,500,000 | $ 1,126,900,000 |
Commission amortization period | 4 years | |
Professional service contract amortization period | 6 months | |
Impairment loss | $ 0 | |
Minimum | ||
Disaggregation of Revenue [Line Items] | ||
Payment terms | 30 days | |
Subscription term | 1 year | |
Maximum | ||
Disaggregation of Revenue [Line Items] | ||
Payment terms | 60 days | |
Subscription term | 3 years |
Revenue, Deferred Revenue and_5
Revenue, Deferred Revenue and Remaining Performance Obligations - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Movement in Deferred Revenue [Roll Forward] | ||
Beginning balance | $ 2,355,113 | $ 1,529,321 |
Additions to deferred revenue | 3,754,541 | 3,067,028 |
Recognition of deferred revenue | (3,055,555) | (2,241,236) |
Ending balance | $ 3,054,099 | $ 2,355,113 |
Revenue, Deferred Revenue and_6
Revenue, Deferred Revenue and Remaining Performance Obligations - Performance Obligations (Details) $ in Billions | Jan. 31, 2024 USD ($) |
Revenue Recognition and Deferred Revenue [Abstract] | |
Transaction price allocated to remaining performance obligation, amount | $ 4.6 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, percentage | 60% |
Remaining performance obligation, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, percentage | 38% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01 | Minimum | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, period | 13 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01 | Maximum | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, period | 36 months |
Revenue, Deferred Revenue and_7
Revenue, Deferred Revenue and Remaining Performance Obligations - Deferred Contract Acquisition Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Capitalized Contract Cost [Roll Forward] | ||
Beginning balance | $ 447,088 | $ 319,180 |
Capitalization of contract acquisition costs | 374,116 | 298,716 |
Amortization of deferred contract acquisition costs | (238,901) | (170,808) |
Ending balance | 582,303 | 447,088 |
Deferred contract acquisition costs, current | 246,370 | 186,855 |
Deferred contract acquisition costs, noncurrent | 335,933 | 260,233 |
Total deferred contract acquisition costs | $ 582,303 | $ 447,088 |
Commitments and Contingencies -
Commitments and Contingencies - Purchase Obligations (Details) $ in Thousands | Jan. 31, 2024 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2025 | $ 220,707 |
2026 | 163,323 |
2027 | 124,015 |
2028 | 118,754 |
2029 | 95,956 |
Thereafter | 24,876 |
Total purchase commitments | $ 747,631 |
Commitments and Contingencies_2
Commitments and Contingencies - Narrative (Details) | 1 Months Ended | ||||||
Mar. 03, 2024 USD ($) | Sep. 30, 2022 patent | May 31, 2022 patent | Mar. 31, 2022 patent | Mar. 06, 2024 USD ($) | Jan. 31, 2024 USD ($) | Jan. 31, 2023 USD ($) | |
Line of Credit Facility [Line Items] | |||||||
Loss contingency, patents | patent | 6 | 6 | |||||
Gain contingency, patents | patent | 2 | ||||||
Liabilities accrued | $ 0 | $ 0 | |||||
ISRAEL | Standby Letters of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Unused standby letter of credit | 0 | 0 | |||||
CALIFORNIA | Standby Letters of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Unused standby letter of credit | 0 | 0 | |||||
TEXAS | Standby Letters of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Unused standby letter of credit | $ 0 | $ 0 | |||||
Subsequent Event | |||||||
Line of Credit Facility [Line Items] | |||||||
Purchase obligation | $ 1,800,000,000 | ||||||
Subsequent Event | Flow Security Ltd. | |||||||
Line of Credit Facility [Line Items] | |||||||
Business combination, consideration transferred | $ 115,000,000 |
Geographic Information (Details
Geographic Information (Details) - USD ($) $ in Thousands | Jan. 31, 2024 | Jan. 31, 2023 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | $ 668,383 | $ 532,271 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | 539,580 | 433,756 |
Germany | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | 84,488 | 67,278 |
Other countries | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | $ 44,315 | $ 31,237 |
Acquisitions - Narrative (Detai
Acquisitions - Narrative (Details) $ in Thousands | 12 Months Ended | |||
Sep. 28, 2023 USD ($) | Oct. 03, 2022 USD ($) | Jan. 31, 2024 USD ($) reporting_unit | Jan. 31, 2023 USD ($) | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Goodwill | $ 638,041 | $ 430,645 | ||
Number of reporting units | reporting_unit | 1 | |||
Developed technology | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Weighted average useful life | 60 months | 68 months | ||
Bionic | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Voting equity interest acquired | 100% | |||
Business combination, consideration transferred | $ 239,000 | |||
Cash acquired | 25,700 | |||
Fair value of replacement equity awards | 700 | |||
Fair Value | 34,900 | |||
Net tangible liabilities acquired | 2,700 | |||
Goodwill | 207,500 | |||
Acquisition related costs | $ 4,100 | |||
Bionic | Developed technology | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Fair Value | $ 29,900 | |||
Weighted average useful life | 72 months | |||
Reposify Ltd | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Voting equity interest acquired | 100% | |||
Business combination, consideration transferred | $ 18,900 | |||
Cash acquired | 500 | |||
Net tangible liabilities acquired | 900 | |||
Goodwill | 14,200 | |||
Reposify Ltd | Developed technology | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Fair Value | $ 3,800 | |||
Weighted average useful life | 72 months |
Acquisitions - Identifiable Int
Acquisitions - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 28, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | |
Bionic | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 34,900 | ||
Developed technology | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Useful Life | 60 months | 68 months | |
Developed technology | Bionic | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 29,900 | ||
Useful Life | 72 months | ||
Customer relationships | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Useful Life | 68 months | 61 months | |
Customer relationships | Bionic | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 5,000 | ||
Useful Life | 96 months |
Net Income (Loss) Per Share A_3
Net Income (Loss) Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Numerator: | |||
Net income (loss) attributable to Class A and Class B CrowdStrike common stockholders | $ 89,327 | $ (183,245) | $ (234,802) |
Denominator: | |||
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B of CrowdStrike common stockholders, basic (in shares) | 238,637 | 233,139 | 227,142 |
Dilutive effect of common stock equivalents (in shares) | 4,998 | 0 | 0 |
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B of CrowdStrike common stockholders, dilutive (in shares) | 243,635 | 233,139 | 227,142 |
Net income (loss) per share attributable to Class A and Class B CrowdStrike common stockholders, Basic (in dollars per share) | $ 0.37 | $ (0.79) | $ (1.03) |
Net income (loss) per share attributable to Class A and Class B CrowdStrike common stockholders, diluted (in dollars per share) | $ 0.37 | $ (0.79) | $ (1.03) |
Net Income (Loss) Per Share A_4
Net Income (Loss) Per Share Attributable to Common Stockholders - Antidilutive (Details) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 3,537 | 17,400 | 12,664 |
Shares of common stock subject to repurchase from outstanding stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 0 | 0 | 198 |
RSUs and PSUs subject to future vesting | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 3,125 | 10,050 | 7,886 |
Shares of common stock issuable from stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 1 | 2,869 | 3,938 |
Share purchase rights under the Employee Stock Purchase Plan | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 411 | 4,481 | 642 |
Net Income (Loss) Per Share A_5
Net Income (Loss) Per Share Attributable to Common Stockholders - Narrative (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Jan. 31, 2024 USD ($) $ / shares shares | |
Earnings Per Share [Abstract] | |
Contingent consideration related to business combinations | $ | $ 3.6 |
Shares issued | 27,330 |
Weighted average price (in dollars per share) | $ / shares | $ 157.85 |
Weighted average shares (in shares) | 689,358 |