Stock Analysis on Net
Stock Analysis on Net

CrowdStrike Holdings Inc. (NASDAQ:CRWD)

$24.99

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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CrowdStrike Holdings Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: 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 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019
Net income (loss)
Depreciation and amortization
Amortization of intangible assets
Amortization of deferred contract acquisition costs
Non-cash operating lease cost
Change in fair value of redeemable convertible preferred stock warrant liability
Stock-based compensation expense
Deferred income taxes
Realized gains on strategic investments
Gain on sale of debt securities, net
Non-cash interest expense
Change in fair value of strategic investments
Amortization (accretion) of short-term investments purchased at a premium (discount)
Other non-cash charges
Accounts receivable, net
Deferred contract acquisition costs
Prepaid expenses and other assets
Accounts payable
Accrued expenses and other liabilities
Accrued payroll and benefits
Operating lease liabilities
Deferred revenue
Changes in operating assets and liabilities, net of impact of acquisitions
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Net cash provided by (used in) operating activities
Purchases of property and equipment
Capitalized internal-use software and website development costs
Purchases of strategic investments
Proceeds from sales of strategic investments
Business acquisitions, net of cash acquired
Purchases of intangible assets
Purchases of short-term investments
Proceeds from maturities and sales of short-term investments
Purchases of deferred compensation investments
Proceeds from sales of deferred compensation investments
Net cash (used in) provided by investing activities
Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts
Payments of debt issuance costs related to revolving line of credit
Payments of debt issuance costs related to Senior Notes
Proceeds from issuance of Senior Notes, net of debt financing costs
Repayment of loan payable
Payments of deferred offering costs
Proceeds from the issuance of common stock upon exercise stock options
Proceeds from the issuance of common stock upon exercise of early exercisable stock options
Proceeds from issuance of common stock under the employee stock purchase plan
Settlement related to stockholder short-swing trade profit
Distributions to non-controlling interest holders
Capital contributions from non-controlling interest holders
Net cash provided by (used in) financing activities
Effect of foreign exchange rates on cash, cash equivalents and restricted cash
Net increase (decrease) in cash, cash equivalents and restricted cash

Based on: 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), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).

Net Income (Loss)
The net income exhibits significant volatility over the observed periods. Initial losses deepen substantially around 2021, peaking in negative territory with a marked loss of -82,871 thousand USD in April 2021. However, from January 2023 onward, the company experiences a notable recovery transitioning into consistent positive net income, reaching 54,941 thousand USD in January 2024 before fluctuating downwards again in later periods, ending with negative figures by mid-2025.
Depreciation and Amortization
Depreciation and amortization steadily increase throughout the periods, starting from 4,873 thousand USD in April 2019 and rising to 60,411 thousand USD by July 2025, reflecting ongoing capital investment and asset utilization growth. Notably, amortization of intangible assets also climbs, particularly accelerating from 2021 onward.
Amortization of Deferred Contract Acquisition Costs
This line item shows a continuous upward trend, increasing from 7,345 thousand USD in April 2019 to more than 107,000 thousand USD by July 2025, suggesting increased upfront payments or investments related to contract acquisition that are amortized over time.
Stock-Based Compensation Expense
Stock-based compensation shows a sharp upward trajectory, expanding from 3,752 thousand USD in April 2019 to a peak exceeding 287,000 thousand USD in July 2025. This trend suggests growing employee compensation linked to stock options, possibly indicating an aggressive employee incentive program or retention strategy.
Changes in Operating Assets and Liabilities
Significant fluctuations are observed in operating assets and liabilities, with increases and decreases alternating widely. Particularly notable are large positive changes in deferred revenue and accounts receivable, implying fluctuating cash collections and recognition of customer billings affecting working capital management.
Net Cash Provided by Operating Activities
Operating cash flows generally increase over time despite some volatile quarters. From a low of 1,415 thousand USD in April 2019, cash from operations grows to a high exceeding 383,000 thousand USD in April 2024, reflecting improved operational efficiency and cash generation.
Investing Activities
Investing cash flows are predominantly negative, driven mainly by significant purchases of property, equipment, and deferred contract acquisition costs. Capital expenditures exhibit large outflows exceeding 78,000 thousand USD in several quarters, indicative of substantial investment in growth and infrastructure. The company also actively purchases and sells strategic and short-term investments, with substantial inflows from maturities and sales of short-term investments in certain periods counterbalancing some purchase outflows.
Financing Activities
Financing cash flows are quite volatile with some very large inflows associated with equity issuances, senior notes, and stock option exercises. For example, in July 2019 and January 2021, large proceeds from public offering and debt issuance occur. These inflows support capital structure changes and growth initiatives. Periods also include repayments of loans and issuance costs impacting net figures.
Working Capital Components
Accounts receivable and deferred revenue fluctuate extensively, showing irregular cash conversion cycles. Accounts payable and accrued liabilities also vary significantly, reflecting changes in supplier payments and accrued expenses. These movements suggest dynamic management of working capital items, potentially in response to business growth cycles and operational needs.
Non-Cash and Other Adjustments
Non-cash charges such as stock-based compensation, amortization of intangible assets, and non-cash interest expense contribute substantially to adjustments reconciling net income to operating cash flow. The company also experiences changes in fair value of warrants and strategic investments, reflecting financial instrument remeasurements.
Overall Financial Trends
The data illustrate a company undergoing phases of investment and operational scaling, marked by increasing amortization, capital expenditures, and stock-based compensation. Initial periods show losses and cash used, transitioning to improved profitability and robust operating cash flow generation in later periods. Cash flow from financing activities supports these investments through equity and debt financing. However, significant volatility in net income and working capital indicate ongoing challenges in stabilizing profitability and cash conversion cycles.