Financial

Results
Q3 FY 2025

® CrowdStrike, Inc. All rights reserved.

 Safe Harbor
This presentation includes express and implied “forward-looking statements”, including forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and in some cases, can be identified
by terms such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“should,” “will,” “would,” or the negative of these terms, and similar expressions that concern our expectations, strategy, plans or intentions. Forward-looking
statements contained in this presentation include, but are not limited to, statements concerning our estimates of market size and opportunity, strategic plans
or objectives, our growth prospects, projections (including our long-term model), the impact of the July 19 Incident, our product roadmap and future initiatives,
and the performance and benefits of our products. By their nature, these statements are subject to numerous risks and uncertainties, including factors beyond
our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements.
Such risks and uncertainties are described in the “Risk Factors” section of our most recent Form 10-K, most recent Form 10-Q, and subsequent filings with the
Securities and Exchange Commission. Although our management believes that the expectations reflected in our statements are reasonable, we cannot
guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or
occur. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made
and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update these
forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.
Information in this presentation on new products, features, and functionality, including our expectations with respect to the development, release and timing
thereof, is for informational purposes only and should not be relied upon.
Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys
and other data obtained from third-party sources and CrowdStrike’s own internal estimates and research. While CrowdStrike believes these third-party
studies, publications, surveys and other data to be reliable as of the date of this presentation, it has not independently verified, and makes no representations
as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, no independent source has
evaluated the reasonableness or accuracy of CrowdStrike’s internal estimates or research and no reliance should be made on any information or statements
made in this presentation relating to or based on such internal estimates and research.

® CrowdStrike, Inc. All rights reserved.

 Financial Information
Use of Non-GAAP Financial Measures
In addition to our results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), we believe non-GAAP measures used in
this presentation, such as non-GAAP Gross Margins, non-GAAP Operating Expenses, and Free Cash Flow, are useful in evaluating our operating
performance. We use such non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We
believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with
past financial performance and facilitates period-to-period comparisons of operations, as these measures eliminate the effects of certain variables unrelated
to our overall operating performance. Other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or
may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for
comparison. In addition, the utility of free cash flow as a measure of our financial performance and liquidity is limited as it does not represent the total
increase or decrease in our cash balance for a given period.
Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly
comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.
Please see the appendix included at the end of this presentation for a discussion of non-GAAP financial measures and a reconciliation of historical non-GAAP
measures to historical GAAP measures.

Our Fiscal Year

Our fiscal year end is January 31, and our fiscal quarters end on April 30, July 31, October 31 and January 31. Our fiscal years ended January 31, 2023, 2024
and 2025 are referred to herein as fiscal 2023, 2024 and 2025 respectively.

® CrowdStrike, Inc. All rights reserved.

 CrowdStrike Q3 At-a-Glance:
Ending ARR Net New ARR
Ending ARR
Surpasses
$4B Milestone $4.02B $153M

Operating Profit Diluted EPS

$195M $0.93
Increased Operating
Profit & EPS Free Cash Flow Free Cash Flow Margin & Rule of 40

$231M 23% 51

® CrowdStrike, Inc. All rights reserved.

 Market
Opportunity
& Leadership

® CrowdStrike, Inc. All rights reserved.

 Our AI-Native XDR Platform
Creates Opportunity
Lightweight
Cloud-First
AI-Native

Hardware
Data Silos
Friction

® CrowdStrike, Inc. All rights reserved.

 Security
& IT Ops

$20B
$116B
Managed
Services
CY25 TAM
$20B
Endpoint
Security
The AI-Native
$19B Security Platform
Cloud
Security

$17B CY25 TAM

Observability

Identity
$15B
Protection

Threat $10B
Intelligence

Data $6B
Protection

$5B
Cybersecurity
Generative AI

$4B
©2023 CrowdStrike, Inc. All rights reserved. Source: IDC and company estimates. See appendix.
 $250B
$116B CY29 TAM

CY25 TAM The AI-Native

Security Platform
Security
& IT Ops
The AI-Native
$20B Security Platform
ged
ces

0B
Source: company estimate

©2023 CrowdStrike, Inc. All rights reserved. Source: company estimates. See appendix.
The Falcon Platform: Simplifying Cybersecurity
Our Single Platform Consolidates Point Products and Lowers TCO
 Industry
Recognition

® CrowdStrike, Inc. All rights reserved.

 CrowdStrike Named a Leader
2024 Gartner® Magic Quadrant for Endpoint Protection Platforms

• Placed Furthest to the Right

for Completeness of Vision for the
Fifth Consecutive Time

• Placed Highest for Ability to Execute

Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation.
Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this
research, including any warranties of merchantability or fitness for a particular purpose.
Gartner is a registered trademark and service mark, and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Gartner, Magic Quadrant for Endpoint Protection Platforms, Evgeny Mirolyubov, Franz Hinner, 23 September 2024

® CrowdStrike, Inc. All rights reserved.

 Ranked Highest Two
Years in a Row 2024 Gartner® Critical
Capabilities
in the Core Endpoint Protection and for Endpoint Protection
Managed Security Services Use Cases Platforms Report

Only vendor to earn the highest scores across multiple use cases

Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation.
Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this
research, including any warranties of merchantability or fitness for a particular purpose.
The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content
speaks as of its original publication date (and not as of the date of this Investor Presentation), and the opinions expressed in the Gartner Content are subject to change without notice.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner®, Critical Capabilities for Endpoint Protection Platforms, Evgeny Mirolyubov, Franz Hinner, Satarupa Patnaik, Deepak Mishra, Chris Silva, 28 October 2024
® CrowdStrike, Inc. All rights reserved.
 CrowdStrike
Named a Leader
The Forrester Wave : Attack Surface
Management Solutions, Q3 2024

Ranked the highest in the Current

Offering category

Received the highest possible

score in the Market Presence
category.

Report Referenced: The Forrester Wave : Attack Surface Management Solutions, Q3 2024, Forrester Research, Inc., September 24, 2024

The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester’s call on a market and is
plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave . Information is based on the best available
resources. Opinions reflect judgment at the time and are subject to change.

® CrowdStrike, Inc. All rights reserved.

 A Leader A Major Player
In CWPP In Worldwide SIEM For Enterprise

In CNAPP

Frost & Sullivan: 2024 Frost Radar : Global Cloud Workload Protection Platform (CWPP)
GigaOm: GigaOm Radar for Cloud-Native Application Protection Platforms (CNAPPs), 29 October 2024
IDC: IDC MarketScape: Worldwide Security Information and Event Management (SIEM) for Enterprise 2024 Vendor Assessment, September 2024, IDC #US51541324

® CrowdStrike, Inc. All rights reserved.

 Platform
Adoption

® CrowdStrike, Inc. All rights reserved.

 Customers are Embracing the Falcon Platform

66% 47% 31% 20%

5+ Modules 6+ Modules 7+ Modules 8+ Modules

Module Adoption Rates

Percent of Subscription Customers with Multiple Cloud Module Subscriptions. All figures are as of the quarter ended October 31, 2024.
Module adoption rates exclude Falcon Go customers. See appendix for the definition of module adoption rates.

® CrowdStrike, Inc. All rights reserved.

 Financial
Overview

® CrowdStrike, Inc. All rights reserved.

 Growth at Scale
27% YoY Growth
Ending ARR Net New ARR Starting ARR Net New ARR
In $ Millions $4,018 In $ Millions

$3,153

$223 $594 $582

$153

3Q24 3Q25 9MO FY24 9MO FY25

3Q24 3Q25

Subscription Revenue Total Revenue Subscription Professional Services

In $ Millions In $ Millions
31% YoY Growth 33% YoY Growth 29% YoY Growth 31% YoY Growth
$2,753 $2,895
$963 $1,010
$733 $2,075 $786 $2,210

3Q24 3Q25 9MO FY24 9MO FY25 3Q24 3Q25 9MO FY24 9MO FY25

Note: All figures as of Q3. See Appendix for definition of metrics.

® CrowdStrike, Inc. All rights reserved.

 Non-GAAP Profit & Free Cash Flow
Subscription Gross Profit Operating Income
In $ Millions In $ Millions
31% YoY Growth 33% YoY Growth 11% YoY Growth 39% YoY Growth
$2,212
$770 $620
$589 $1,661
$195 $447
$176

3Q24 3Q25 9MO FY24 9MO FY25 9MO FY24 9MO FY25
3Q24 3Q25
% margin 80% 80% 80% 80% % margin 22% 19% 20% 21%

Diluted Earnings Per Share Free Cash Flow

In $ Millions
13% YoY Growth 36% YoY Growth -4% YoY Growth 26% YoY Growth
$239 $825
$231
$0.93 $2.90 $655
$0.82 $2.13

3Q24 3Q25 9MO FY24 9MO FY25 3Q24 3Q25 9MO FY24 9MO FY25

% margin 30% 23% 30% 29%

Note: All financial figures are non-GAAP. See Appendix for definition of metrics and a reconciliation of each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP.

® CrowdStrike, Inc. All rights reserved.

 Q3 Key Takeaways
Fastest pureplay
>$4B Total revenue surpassed $1B for the first time
>97% gross retention
Q3 Results Ending ARR
1 cybersecurity software
company to achieve reported $231M free cash flow, Rule of 51
milestone Record >260 $1M+ transactions

Module adoption Accounts that have

rates grew to adopted the Flex model Flex customers on
Growing Platform 5+ Modules: 66% now represent average have adopted
2
Adoption 6+ Modules: 47%
7+ Modules: 31% >$1.3B >9 modules
8+ Modules: 20% of total deal value

Market-leading protection and AI innovation

Trusted Next-Gen SIEM net new ARR
grew >150% YoY
3 Cybersecurity Cybersecurity’s most performant and resilient
architecture
Platform of Choice Nearly 70% of our new subscription
business was partner sourced in Q3
Unmatched Next-Gen SIEM speed and scalability

Note: All figures as of Q3. All financial figures except revenue are non-GAAP unless otherwise specified. See Appendix for definition of metrics and a reconciliation of each non-GAAP financial
measure to the most directly comparable financial measure stated in accordance with GAAP.

Module adoption rates exclude Falcon Go customers. See appendix for the definition of module adoption rates.
® CrowdStrike, Inc. All rights reserved.
 Q4 FY2025 Full Year FY2025

Total revenue $1,028.7 - $1,035.4M $3,923.8 - $3,930.5M

Non-GAAP income from operations $184.0 - $189.0M $804.4 - $809.4M

Non-GAAP net income attributable

$210.9 - $215.8M $937.5 - $942.6M
to CrowdStrike

Guidance Non-GAAP net income per share

attributable to CrowdStrike $0.84 - $0.86 $3.74 - $3.76
common stockholders, diluted

Weighted average shares used in

computing non-GAAP net income
252M 251M
per share attributable to common
stockholders, diluted

CrowdStrike is providing the above guidance for the fourth quarter of fiscal 2025 (ending January 31, 2025) and full fiscal year 2025 (ending January 31, 2025). Guidance for non-GAAP financial measures excludes stock-based
compensation expense, amortization expense of acquired intangible assets (including purchased patents), amortization of debt issuance costs and discount, mark-to-market adjustments on deferred compensation liabilities, legal
reserve and settlement charges or benefits, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for income taxes, losses (gains) and other income from strategic investments, acquisition-
related expenses (credits), net, and losses (gains) from deferred compensation assets. CrowdStrike has not provided the most directly comparable GAAP measures because certain items are out of CrowdStrike’s control or cannot
be reasonably predicted. Accordingly, a reconciliation for non-GAAP income from operations, non-GAAP net income attributable to CrowdStrike, and non-GAAP net income per share attributable to CrowdStrike common
stockholders is not available without unreasonable effort.

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor for information on the factors that could cause CrowdStrike’s actual
results to differ materially from these forward-looking statements.
® CrowdStrike, Inc. All rights reserved.
 Modeling Points
Visibility remains limited given the headwinds related to the July 19 Incident that we outlined last quarter, including: the

Headwinds delay of the vast majority of outbound pipeline generation activities for a few weeks following the July 19 Incident,
extended sales cycles for both new and existing customers, and continued deployment of customer commitment
packages, resulting in muted upsell rates and potentially higher than typical levels of contraction.

Recognizing our continued reduced visibility, we are maintaining our estimated impact of approximately $30 million to both
ARR & Revenue CCP Impact net new ARR and subscription revenue in Q4 from our customer commitment packages (CCP). As we discussed last
quarter, the above headwinds are additive to the expected quantified impact.

Near-Term ARR & Revenue We request that you keep historical sequential net new ARR seasonality in mind when updating your models. Additionally,
as we discussed last quarter, the modeling of ARR and subscription revenue should be decoupled in the short term given
Modeling the customer commitment packages. Our Fal.Con 2024 investor presentation has additional details on this dynamic.

Additional GAAP Tax Expense We expect to incur additional GAAP tax expenses in Q4 of approximately $58 million due to previous acquisitions.

We closed our acquisition of Adaptive Shield on November 20th, which is expected to have a one to two cent impact
Non-GAAP EPS to non-GAAP EPS, as reflected in our Q4 guidance.

We expect Q4 free cash flow to reflect a significantly more pronounced July 19 Incident impact in comparison to Q3.
This is due to collections impacted by increased flexible payment terms under customer commitment packages for
Free Cash Flow deals closed in Q3, the incremental sales compensation expenses and the timing and size of G&A costs - all relating
to July 19. As a result, we do not expect to see sequential free cash flow margin leverage in Q4.
We continue to expect CrowdStrike Financial Services to have a de minimus impact to free cash flow in Q4.

CrowdStrike is providing the above modeling points for the fourth quarter of fiscal 2025 (ending January 31, 2025) and full fiscal year 2025 (ending January 31, 2025). These statements are forward-looking and actual results may differ
materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor for information on the factors that could cause CrowdStrike's actual results to differ materially from these forward-looking statements.

Non-GAAP financial measures exclude stock-based compensation expense, amortization expense of acquired intangible assets (including purchased patents), amortization of debt issuance costs and discount, mark-to-market
adjustments on deferred compensation liabilities, legal reserve and settlement charges or benefits, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for income taxes, losses (gains) and other
income from strategic investments, acquisition-related expenses (credits), net, and losses (gains) from deferred compensation assets. CrowdStrike has not reconciled any of the non-GAAP measures referenced above to the most
comparable GAAP measure because certain items are out of the CrowdStrike’s control and/or cannot be reasonably predicted. Accordingly, a reconciliation is not available without unreasonable effort.

® CrowdStrike, Inc. All rights reserved.

 Non-GAAP Measures Target %
of Revenue

Subscription Gross Margin 82 – 85%

S&M 28 – 33%

Target R&D 15 – 20%

Operating
Model G&A 5 – 7%

Operating Margin 28 – 32%

Free Cash Flow Margin 34 – 38%

Note: Targets are on a full year basis. Target ranges assume consistent macroeconomic conditions and do not include the impact of potential future M&A activity.

Non-GAAP financial measures exclude stock-based compensation expense, amortization expense of acquired intangible assets (including purchased patents), amortization of debt issuance costs and discount, mark-to-market adjustments on deferred compensation liabilities, legal reserve
and settlement charges or benefits, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for income taxes, losses (gains) and other income from strategic investments, acquisition-related expenses (credits), net, and losses (gains) from deferred
compensation assets. CrowdStrike has not reconciled any of the non-GAAP measures referenced above to the most comparable GAAP measure in its long-term target non-GAAP operating model because certain items are out of CrowdStrike’s control and/or cannot be reasonably predicted.
Accordingly, a reconciliation is not available without unreasonable effort.

® CrowdStrike, Inc. All rights reserved.

 Appendix

® CrowdStrike, Inc. All rights reserved.

 Appendix
Calculation of metrics

Annual Recurring Revenue (ARR).

ARR is calculated as the annualized value of our customer subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms. To the
extent that we are negotiating a renewal with a customer after the expiration of the subscription, we continue to include that revenue in ARR if we are actively in discussion with such an organization for a new
subscription or renewal, or until such organization notifies us that it is not renewing its subscription.

Dollar-Based Net Retention Rate.

Our dollar-based net retention rate compares our ARR from a set of subscription customers against the same metric for those subscription customers from the prior year. Our dollar-based net retention rate reflects
customer renewals, expansion, contraction and churn, and excludes revenue from our incident response and proactive services. We calculate our dollar-based net retention rate as of period end by starting with
the ARR from all subscription customers as of 12 months prior to such period end, or Prior Period ARR. We then calculate the ARR from these same subscription customers as of the current period end, or Current
Period ARR. Current Period ARR includes any expansion and is net of contraction or churn over the trailing 12 months but excludes revenue from new subscription customers in the current period. We then divide
the total Current Period ARR by the total Prior Period ARR to arrive at our dollar-based retention rate.

Dollar-Based Gross Retention Rate.

We calculate our dollar-based gross retention rate as of the period end by starting with the ARR from all subscription customers as of 12 months prior to such period, or Prior Period ARR. We then deduct from the
Prior Period ARR any ARR from subscription customers who are no longer customers as of the current period end, or Current Period Remaining ARR. We then divide the total Current Period Remaining ARR by the
total Prior Period ARR to arrive at our dollar-based gross retention rate, which is the percentage of ARR from all subscription customers as of the year prior that is not lost to customer churn.

Gross Churn.
Our dollar-based gross churn rate is equal to 1 - Dollar-Based Gross Retention Rate.

Free Cash Flow Rule of 40.

Free cash flow rule of 40 is calculated by taking the Current Quarter Total Revenue YoY Growth Rate + Current Quarter Free Cash Flow Margin.

Module Adoption Rates.

Module adoption rates are calculated by taking the total number of customers with five or more, six or more, seven or more, and eight or more modules, respectively, divided by the total number of subscription
customers (excluding Falcon Go customers). Falcon Go customers are defined as customers who have subscribed with the Falcon Go bundle, a package designed for organizations with 100 endpoints or less.

® CrowdStrike, Inc. All rights reserved.

 Appendix (cont’d)
Reports used for data shown in the chart titled “CY25 TAM | The AI-Native Security Platform”:

CY25 TAM:
 IDC Semiannual Security Products Tracker 2023H2 Historical Release. (May 2024)
 IDC Worldwide Device Vulnerability Management Forecast, 2024–2028: Fusing Multiple Exposure Sources. (June 2024)
 IDC Worldwide Application Vulnerability Management Forecast, 2023–2027: Navigating the Future in Application Security. (November 2023)
 IDC Worldwide SOAR and Firewall Automation Forecast, 2024–2028: Will GenAI Leave SOAR Vendors Sore?. (March 2024)
 IDC Worldwide Tier 2 SOC Analytics and Cloud-Native XDR Forecast, 2022–2026: Will XDR Become the Shining Light in a Dimming Global Outlook?. (November 2022)
 IDC Worldwide IT Operations Management Software Forecast, 2023–2027. (September 2023)
 Gartner Emerging Tech: Adoption Growth Insights in Digital Risk Protection Services (November 2022)
 IDC Worldwide Attack Surface Management and Breach and Attack Simulation Software Forecast, 2024–2028 Proactively Discovering Potential Attacks - 2024 Feb forecast.
(February 2024)
 IDC Worldwide Application Vulnerability Management Forecast, 2023–2027: Navigating the Future in Application Security. (November 2023)
 IDC Worldwide Attack Surface Management and Breach and Attack Simulation Software Forecast, 2024–2028: Proactively Discovering Potential Attacks. (February 2024)
 IDC Worldwide Network Detection and Response Forecast, 2024–2028: The Network Is Talking, Are You Listening?. (March 2024)
 IDC Worldwide Client Endpoint Management Software Forecast, 2024–2028. (June 2024)
 IDC MarketScape Evaluates Worldwide SD-WAN Infrastructure Vendors and Market Trends. (October 2023)
 IDC Worldwide and U.S. Comprehensive Security Services Forecast, 2024–2028. (April 2024)
 Company estimates

CY29 TAM:
 Company estimates. Includes organic category growth, product roadmap, future initiatives and estimated cloud security opportunity.

® CrowdStrike, Inc. All rights reserved.

 Appendix (cont’d)
Explanation of Non-GAAP Financial Measures

Non-GAAP Subscription Gross Profit and Non-GAAP Subscription Gross Margin

We define non-GAAP subscription gross profit and non-GAAP subscription gross margin as GAAP subscription gross profit and GAAP subscription gross margin, respectively,
excluding stock-based compensation expense and amortization of acquired intangible assets.

Non-GAAP Income from Operations

We define non-GAAP income from operations as GAAP income (loss) from operations excluding stock-based compensation expense, amortization of acquired intangible assets
(including purchased patents), acquisition-related expenses (credits), net, mark-to-market adjustments on deferred compensation liabilities, legal reserve and settlement charges or
benefits, and July 19 Incident related costs and (recoveries), net.

Non-GAAP Net Income Attributable to CrowdStrike

We define non-GAAP net income attributable to CrowdStrike as GAAP net income (loss) attributable to CrowdStrike excluding stock-based compensation expense, amortization of
acquired intangible assets (including purchased patents), acquisition-related expenses (credits),net, amortization of debt issuance costs and discount, mark-to-market adjustments
on deferred compensation liabilities, legal reserve and settlement charges or benefits, July 19 Incident related costs and (recoveries), net, acquisition-related provision (benefit) for
income taxes, losses (gains) and other income from strategic investments, and losses (gains) on deferred compensation assets.

Non-GAAP Net Income per Share Attributable to CrowdStrike Common Stockholders, Diluted
We define non-GAAP net income per share attributable to CrowdStrike common stockholders, as non-GAAP net income attributable to CrowdStrike divided by the weighted-average
shares outstanding, which includes the dilutive effect of potentially dilutive common stock equivalents outstanding during the period.

Free Cash Flow

Free Cash Flow Free cash flow is a non-GAAP financial measure that we define as net cash provided by operating activities less purchases of property and equipment, capitalized
internal-use software and website development costs, purchases of deferred compensation investments, and proceeds from sale of deferred compensation investments. We monitor
free cash flow as one measure of our overall business performance, which enable us to analyze our future performance without the effects of non-cash items and allow us to better
understand the cash needs of our business. While we believe that free cash flow is useful in evaluating our business, free cash flow is a non-GAAP financial measure that has
limitations as an analytical tool, and free cash flow should not be considered as an alternative to, or substitute for, net cash provided by operating activities in accordance with GAAP.
The utility of free cash flow as a measure of our liquidity is further limited as it does not represent the total increase or decrease in our cash balance for any given period. In addition,
other companies, including companies in our industry, may calculate free cash flow differently or not at all, which reduces the usefulness of free cash flow as a tool for comparison.

® CrowdStrike, Inc. All rights reserved.

GAAP INCOME STATEMENT CROWDSTRIKE HOLDINGS, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

Q3 FY24 Q3 FY25 Q3 FY24 YTD Q3 FY25 YTD

Revenue
Subscription $ 733,463 $ 962,735 $ 2,074,610 $ 2,753,164
Professional services 52,551 47,443 135,610 141,922
Total revenue 786,014 1,010,178 2,210,220 2,895,086

Cost of revenue
Subscription 159,830 216,301 455,236 605,868
Professional services 35,174 38,786 91,915 111,623
Total cost of revenue 195,004 255,087 547,151 717,491

Gross profit
Subscription 573,633 746,434 1,619,374 2,147,296
Professional services 17,377 8,657 43,695 30,299
Total gross profit 591,010 755,091 1,663,069 2,177,595

Operating expenses
Sales and marketing 286,186 408,267 850,209 1,113,852
Research and development 196,072 275,602 554,499 761,759
General and administrative 105,589 126,945 290,027 337,113
Total operating expenses 587,847 810,814 1,694,735 2,212,724

Income (loss) from operations 3,163 (55,723) (31,666) (35,129)

Interest expense (6,503) (6,587) (19,334) (19,647)

Interest income 40,086 52,201 107,245 149,577
Other income (expense), net (474) (429) (1,978) 6,196

Income (loss) before provision for income taxes 36,272 (10,538) 54,267 100,997

Provision for income taxes 9,603 6,281 18,623 24,862

Net income (loss) 26,669 (16,819) 35,644 76,135

Net income attributable to non-controlling interest 4 3 16 3,124
Net income (loss) attributable to CrowdStrike $ 26,665 $ (16,822) $ 35,628 $ 73,011

Net income (loss) per share attributable to CrowdStrike common stockholders:

Basic $ 0.11 $ (0.07) $ 0.15 $ 0.30
Diluted $ 0.11 $ (0.07) $ 0.15 $ 0.29
Weighted-average shares used in computing net income (loss) per share attributable to CrowdStrike common stockholders:
Basic 239,297 245,536 237,890 244,017
Diluted 243,799 245,536 242,196 250,747
 GAAP to Non-GAAP Reconciliation CROWDSTRIKE HOLDINGS, INC.
Statements of Operations: GAAP to Non-GAAP Reconciliations
(in thousands)
(unaudited)

Q3 FY24 Q3 FY25 Q3 FY24 YTD Q3 FY25 YTD

GAAP subscription gross profit $ 573,633 $ 746,434 $ 1,619,374 $ 2,147,296
Stock based compensation expense 11,477 18,613 30,575 49,261
Amortization of acquired intangible assets 3,580 5,389 10,741 15,823
Non-GAAP subscription gross profit $ 588,690 $ 770,436 $ 1,660,690 $ 2,212,380

GAAP subscription gross margin 78% 78% 78% 78%

Non-GAAP subscription gross margin 80% 80% 80% 80%

GAAP professional services gross profit $ 17,377 $ 8,657 $ 43,695 $ 30,299

Stock based compensation expense 5,645 7,498 16,020 21,115
Non-GAAP professional services gross profit $ 23,022 $ 16,155 $ 59,715 $ 51,414

Total GAAP gross margin 75% 75% 75% 75%

Total Non-GAAP gross margin 78% 78% 78% 78%

GAAP Sales and marketing operating expenses $ 286,186 $ 408,267 $ 850,209 $ 1,113,852
Stock based compensation expense (42,544) (56,251) (129,725) (165,914)
Amortization of acquired intangible assets (506) (603) (1,483) (1,808)
Mark-to-market adjustments on deferred compensation liabilities 68 (41) 33 (184)
July 19 Incident related costs, net — (15,089) — (18,182)
Non-GAAP sales and marketing operating expenses $ 243,204 $ 336,283 $ 719,034 $ 927,764

GAAP research and development operating expenses $ 196,072 $ 275,602 $ 554,499 $ 761,759
Stock based compensation expense (52,388) (81,874) (143,754) (224,467)
Amortization of acquired intangible assets (468) — (468) —
Acquisition-related expenses, net (379) — (750) (477)
Mark-to-market adjustments on deferred compensation liabilities 34 (56) 20 (202)
July 19 Incident related costs, net — (3,549) — (4,550)
Non-GAAP research and development operating expenses $ 142,871 $ 190,123 $ 409,547 $ 532,063

GAAP general and administrative operating expenses $ 105,589 $ 126,945 $ 290,027 $ 337,113
Stock based compensation expense (47,560) (44,652) (135,173) (132,133)
Acquisition-related expenses, net (3,277) (1,393) (3,204) (4,075)
Amortization of acquired intangible assets (83) (341) (221) (1,034)
Mark-to-market adjustments on deferred compensation liabilities 15 (6) 8 (27)
Legal reserve and settlement charges (4,700) — (6,797) —
July 19 Incident related costs, net — (15,284) — (16,322)
Non-GAAP general and administrative operating expenses $ 49,984 $ 65,269 $ 144,640 $ 183,522
 CROWDSTRIKE HOLDINGS, INC.

GAAP to Non-GAAP Reconciliation (Cont'd) Statements of Operations: GAAP to Non-GAAP Reconciliations (continued)
(in thousands, except per share data)
(unaudited)
Q3 FY24 Q3 FY25 Q3 FY24 YTD Q3 FY25 YTD
GAAP income (loss) from operations $ 3,163 $ (55,723) $ (31,666) $ (35,129)
Stock based compensation expense 159,614 208,888 455,247 592,890
Amortization of acquired intangible assets 4,637 6,333 12,913 18,665
Acquisition-related expenses, net 3,656 1,393 3,954 4,552
Mark-to-market adjustments on deferred compensation liabilities (117) 103 (61) 413
Legal reserve and settlement charges 4,700 — 6,797 —
July 19 Incident related costs, net — 33,922 — 39,054
Non-GAAP income from operations $ 175,653 $ 194,916 $ 447,184 $ 620,445

GAAP operating margin —% (6)% (1)% (1)%

Non-GAAP operating margin 22% 19% 20% 21%

GAAP net income (loss) attributable to CrowdStrike $ 26,665 $ (16,822) $ 35,628 $ 73,011
Stock based compensation expense 159,614 208,888 455,247 592,890
Amortization of acquired intangible assets 4,637 6,333 12,913 18,665
Acquisition-related expenses, net 3,656 1,393 3,954 4,552
Amortization of debt issuance costs and discount 547 547 1,640 1,640
Mark-to-market adjustments on deferred compensation liabilities (117) 103 (61) 413
Legal reserve and settlement charges 4,700 — 6,797 —
July 19 Incident related costs, net — 33,922 — 39,054
Benefit for income taxes (1) (615) — (615) —
Gains and other income from on strategic investments attributable to CrowdStrike (4) (3) (16) (3,124)
Losses (gains) on deferred compensation assets 117 (103) 61 (413)
Non-GAAP net income attributable to CrowdStrike $ 199,200 $ 234,258 $ 515,548 $ 726,688

Weighted-average shares used in computing basic net income (loss) per share attributable to CrowdStrike common stockholders 239,297 245,536 237,890 244,017

GAAP basic net income (loss) per share attributable to CrowdStrike common stockholders $ 0.11 $ (0.07) $ 0.15 $ 0.30

GAAP diluted net income (loss) per share attributable to CrowdStrike common shareholders $ 0.11 $ (0.07) $ 0.15 $ 0.29
Stock-based compensation 0.65 0.83 1.88 2.36
Amortization of acquired intangible assets 0.02 0.03 0.05 0.07
Acquisition-related expenses, net 0.01 0.01 0.02 0.02
Amortization of debt issuance costs and discount — — 0.01 0.01
Mark-to-market adjustments on deferred compensation liabilities — — — —
Legal reserve and settlement charges 0.02 — 0.03 —
July 19 Incident related costs, net — 0.14 — 0.16
Benefit for income taxes (1) — — — —
Gains and other income from strategic investments attributable to CrowdStrike — — — (0.01)
Losses (gains) on deferred compensation assets — — — —
Other (2) 0.01 (0.01) (0.01) —
Non-GAAP diluted net income per share attributable to CrowdStrike common shareholders $ 0.82 $ 0.93 $ 2.13 $ 2.90

Weighted-average shares used to calculate Non-GAAP diluted net income per share attributable to CrowdStrike common stockholders 243,799 250,777 242,196 250,747
_____________________________
1. We use our GAAP provision for income taxes for the purpose of determining our non-GAAP income tax expense. The tax costs for intellectual property integration relating to acquisitions are included in the GAAP provision for income taxes. The income tax benefits related to stock-based compensation, amortization of acquired
intangibles assets, including purchased patents, acquisition related expenses, amortization of debt issuance costs and discount, gains and other income from strategic investments attributable to CrowdStrike, July 19 Incident related costs and (recoveries), net, and legal reserve and settlement charges or benefits included in the
GAAP provision for income taxes were not material for all periods presented.
2. For periods in which we had diluted non-GAAP net income per share attributable to CrowdStrike common stockholders, the sum of the impact of individual reconciling items may not total to diluted Non-GAAP net income per share attributable to CrowdStrike common stockholders because of rounding differences.
 CROWDSTRIKE HOLDINGS, INC.

Free Cash Flow Reconciliation Free cash flow reconciliation

(In thousands, except percentages)
(unaudited)

Q3 FY24 Q3 FY25 Q3 FY24 YTD Q3 FY25 YTD

Free cash flow reconciliation
GAAP net cash provided by operating activities $ 273,518 $ 326,136 $ 819,191 $ 1,036,005
Purchases of property and equipment (21,264) (78,704) (123,945) (167,641)
Capitalized internal-use software and website development costs (12,630) (16,271) (38,605) (41,266)
Purchases of deferred compensation investments (586) (606) (1,462) (1,815)
Proceeds from sale of deferred compensation investments — — — (41)
Free cash flow $ 239,038 $ 230,555 $ 655,179 $ 825,242

Free cash flow margin 30% 23% 30% 29%

Supplemental Disclosure - Additional Metrics CROWDSTRIKE HOLDINGS, INC.
Additional Metrics
(In thousands, except percentages and remaining performance obligations)
(unaudited)

Q3FY24 Q3FY25
Annual recurring revenue $ 3,153,243 $ 4,017,540
Year-over-year growth 35% 27%

Remaining performance obligations (in billions) $ 3.7 $ 5.4

Revenue by geographic regions:

United States $ 537,880 $ 683,476
Europe, Middle East, and Africa 119,158 160,574
Asia Pacific 81,459 102,837
Other 47,517 63,291
Total revenue $ 786,014 $ 1,010,178

Geographic breakdown of total revenue:

United States 69% 68%
Europe, Middle East, and Africa 15% 16%
Asia Pacific 10% 10%
Other 6% 6%
Total 100% 100%

Non-GAAP operating expenses $ 436,059 $ 591,675

Non-GAAP operating expenses as a percentage of revenue 55% 59%