Stock Analysis on Net

CrowdStrike Holdings Inc. (NASDAQ:CRWD)

$24.99

Income Statement
Quarterly Data

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

US$ in thousands

Microsoft Excel
3 months ended: Apr 30, 2026 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-Q (reporting date: 2026-04-30), 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).


Revenue exhibits a consistent and aggressive upward trajectory over the analyzed period, growing from 178.08 million USD in April 2020 to 1.39 billion USD by April 2026. This growth is primarily driven by subscription revenue, which maintains a strong correlation with total revenue growth, while professional services revenue grows at a significantly slower pace, reflecting a business model heavily weighted toward recurring subscription streams.

Revenue Composition and Growth
Subscription revenue increased from 162.22 million USD to 1.32 billion USD, representing the vast majority of total income. Professional services revenue, while increasing from 15.86 million USD to 64.78 million USD, constitutes a diminishing percentage of total revenue over time, indicating an increasing reliance on the scalability of the subscription platform.
Gross Profitability
Gross profit demonstrates steady growth, rising from 131.18 million USD to 1.04 billion USD. The cost of revenue has scaled in tandem with growth, but the expansion of gross profit suggests a high-margin core product. The ability to maintain substantial gross profits despite increasing costs of revenue indicates strong pricing power and operational efficiency at the delivery level.
Operating Expense Trends
Total operating expenses have scaled significantly, increasing from 153.76 million USD to 1.07 billion USD. Sales and marketing expenses remain the largest expenditure, showing a sharp increase to support market expansion. Research and development costs also grew substantially, from 40.58 million USD to 408.33 million USD, signaling a sustained commitment to product innovation. General and administrative expenses grew more moderately but still contributed to the overall increase in the cost base.
Operating Income Volatility
Income from operations remained negative for the majority of the early period, reflecting heavy investment in growth. A transition toward operational profitability was observed between October 2023 and July 2024, where positive operating income was achieved. However, a significant reversal occurred between October 2024 and July 2025, with operating losses peaking at 118.71 million USD in January 2025, before returning to a positive position in January 2026.
Net Income and Non-Operating Factors
Net income is characterized by extreme volatility. Early losses were consistent, followed by a period of profitability in 2024. A sharp downturn occurred in early 2025, with net losses reaching 105.05 million USD in January 2025. Interest income provided a significant buffer during later periods, growing from negligible amounts to peak at 52.20 million USD in October 2024, which partially offset operational losses. Net income attributable to the company recovered to 27.77 million USD by April 2026.