Stock Analysis on Net
Stock Analysis on Net

CrowdStrike Holdings Inc. (NASDAQ:CRWD)

$24.99

Common-Size Income Statement
Quarterly Data

Paying user area

Try for free

CrowdStrike Holdings Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

CrowdStrike Holdings Inc., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Jan 31, 2026 Oct 31, 2025 Jul 31, 2025 Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020
Subscription
Professional services
Revenue
Subscription
Professional services
Cost of revenue
Gross profit
Sales and marketing
Research and development
General and administrative
Operating expenses
Income (loss) from operations
Interest expense
Interest income
Other income (expense), net
Income (loss) before provision for income taxes
Provision for income taxes
Net income (loss)
Net (income) loss attributable to non-controlling interest
Net income (loss) attributable to CrowdStrike

Based on: 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30).

The common-size income statement reveals a consistent revenue model heavily reliant on subscription services, which consistently contributes over 90% of total revenue throughout the observed period. While subscription revenue as a percentage of total revenue generally increased over time, reaching 95.30% by October 2025, there were minor fluctuations. Professional services revenue, conversely, steadily decreased as a percentage of total revenue, falling from 8.90% in April 2020 to 4.83% in January 2026.

Gross profit remained relatively stable, fluctuating between 72.45% and 76.12% of revenue. However, operating expenses represent a significant portion of revenue, consistently exceeding 80% in several periods, particularly between April 2020 and October 2021. This high expense ratio initially resulted in operating losses, but a notable shift occurred towards profitability beginning in October 2023.

Revenue and Cost of Revenue
Revenue consistently represented 100% of itself, as expected. Cost of revenue as a percentage of revenue exhibited a slight downward trend over the period, decreasing from 27.34% in July 2020 to 23.88% in July 2025, suggesting potential improvements in cost management or economies of scale. However, it increased again in later periods.
Operating Expenses Breakdown
Sales and marketing expenses were the largest component of operating expenses, initially consuming nearly 50% of revenue. These expenses decreased over time, reaching approximately 35% by January 2026. Research and development expenses remained substantial, generally between 20% and 30% of revenue, with a peak in January 2023. General and administrative expenses were the smallest component, fluctuating between 11% and 17% of revenue.
Profitability Trends
The company experienced operating losses in the earlier periods, peaking at -15.07% in July 2020. However, operating income improved significantly, turning positive in October 2023 and reaching 3.51% in January 2024. Net income followed a similar pattern, transitioning from consistent losses to profitability by April 2024, reaching 4.71% by January 2026. Interest expense decreased over time, while interest income increased, contributing to the overall improvement in net income.
Tax Impact
The provision for income taxes varied considerably, influenced by the company’s profitability. Negative income in earlier periods resulted in tax benefits, while positive income led to tax expenses. The effective tax rate fluctuated, reflecting changes in profitability and applicable tax laws.

Overall, the financial performance demonstrates a transition from a high-growth, high-expense model to a more sustainable and profitable operation. The increasing proportion of subscription revenue, coupled with decreasing sales and marketing expenses, contributed to improved profitability in the later periods analyzed.