CrowdStrike has been thanking artificial intelligence for its improved security outcomes in its first quarter fiscal year 2024 financial results, which ended April 30, 2023.
Total revenues reached $692.6 million, a 42 per cent spike, compared to $487.8 million in the first quarter of fiscal 2023. Subscription revenue increased by 42 per cent to $651.2 million.
Professional services revenue reached $41.4 million, setting a new record for the 11th consecutive quarter and representing 48 per cent year-over-year growth.
During the quarter, CrowdStrike also saw strength in Europe, the Middle East, and Japan, with international revenue growing 53 per cent yearly.
CrowdStrike president, CEO and co-founder, George Kurtz: “CrowdStrike’s first quarter results exceeded our guided metrics and reached new financial milestones, delivering the winning combination of growth, profitability and free cash flow at scale.”
“Our demonstrated leadership in leveraging AI to drive better security outcomes and consolidate security spend strategically positions CrowdStrike to win in our markets.”
This week CrowdStrike announced it is working with AWS to develop new generative AI applications to help customers accelerate their cloud, security and AI journeys.
These include both cybersecurity-related generative AI applications, as well as cloud-plus-cloud security solutions designed to help customers build and secure their own generative AI applications.
