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CrowdStrike Q3 Fiscal 2021 Quarterly Earnings: Strong Endpoint Security Demand

Demand for CrowdStrike ($CRWD) cloud-delivered endpoint security services software continues to accelerate, according to Q3 2021 quarterly earnings results released today. Still, MSSP Alert is striving to determine how much of the momentum involves channel partners, MSPs and MSSPs (managed security services providers).

For CrowdStrike’s fiscal third quarter of 2021, according to today’s statement:

  • Revenue was $232.5 million, up 86% compared to $125.1 million in the third quarter of fiscal 2020.
  • Subscription revenue was $213.5 million, up 87% compared to $114.2 million in the third quarter of fiscal 2020.
  • Annual Recurring Revenue (ARR) rose 81% year-over-year and grew to $907.4 million as of October 31, 2020.
  • GAAP net loss was $24.5 million, compared to $35.5 million in the third quarter of fiscal 2020.

During the quarter, the company added 1,186 net new subscription customers including 64 from the acquisition of Preempt Security, for a total of 8,416 subscription customers as of October 31, 2020, representing 85% growth year-over-year.

CrowdStrike Partnerships

On the partner front, CrowdStrike in the earnings release mentioned growing relationships with Ernst & Young, ServiceNow and Amazon Web Services. However, MSSP Alert will tune into the earnings call to see if specific channel partner, MSP or MSSP relationships are mentioned. The earnings release did not feature any statements involving those partner types.

Stay tuned for potential updates to this blog.

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