0001535527-21-000028 | 10-Q | XBRL Viewer

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Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Revenue
Total revenue	$ 380,051	$ 232,460	$ 1,020,584	$ 609,509
Cost of revenue
Total cost of revenue	101,664	61,527	270,601	162,813
Gross profit	278,387	170,933	749,983	446,696
Operating expenses
Sales and marketing	164,960	105,602	453,952	288,867
Research and development	97,630	57,539	266,265	148,600
General and administrative	56,061	31,951	148,780	85,955
Total operating expenses	318,651	195,092	868,997	523,422
Loss from operations	(40,264)	(24,159)	(119,014)	(76,726)
Interest expense	(6,403)	(193)	(18,929)	(510)
Other income, net	690	272	6,077	5,537
Loss before provision for income taxes	(45,977)	(24,080)	(131,866)	(71,699)
Provision for income taxes	4,473	451	58,773	1,928
Net loss	(50,450)	(24,531)	(190,639)	(73,627)
Net income attributable to noncontrolling interest	5	0	2,183	0
Net loss attributable to CrowdStrike	$ (50,455)	$ (24,531)	$ (192,822)	$ (73,627)
Net loss per share attributable to Crowdstrike common stockholders, basic (in dollars per share)	$ (0.22)	$ (0.11)	$ (0.85)	$ (0.34)
Net loss per share attributable to Crowdstrike common stockholders, diluted (in dollars per share)	$ (0.22)	$ (0.11)	$ (0.85)	$ (0.34)
Weighted-average shares used in computing net loss per share attributable to Crowdstrike common stockholders, basic (in shares)	228,293	219,401	226,292	216,432
Weighted-average shares used in computing net loss per share attributable to Crowdstrike common stockholders, diluted (in shares)	228,293	219,401	226,292	216,432
Subscription
Revenue
Total revenue	$ 357,030	$ 213,530	$ 954,094	$ 560,008
Cost of revenue
Total cost of revenue	85,464	49,583	226,360	130,864
Professional services
Revenue
Total revenue	23,021	18,930	66,490	49,501
Cost of revenue
Total cost of revenue	$ 16,200	$ 11,944	$ 44,241	$ 31,949

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2021, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all of the information required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all normal recurring adjustments that are necessary for the fair statement of the Company’s condensed consolidated financial information. The results of operations for the three and nine months ended October 31, 2021 are not necessarily indicative of the results to be expected for the year ending January 31, 2022 or for any other interim period or for any other future year.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such difference could be material to the Company’s condensed consolidated financial statements. Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for credit losses, the useful lives of long-lived assets, the fair values of strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, stock-based compensation, the fair value of assets acquired and liabilities assumed for business combinations, and the fair value and effective interest rate for the Senior Notes. Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require a material update to its estimates or judgments or an adjustment of the carrying value of its assets or liabilities as of October 31, 2021. While there was not a material impact to the Company’s condensed consolidated financial statements as of and for the three and nine months ended October 31, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company’s condensed consolidated financial statements in future reporting periods.
Concentration of Credit Risk and Geographic Information	Concentration of Credit Risk and Geographic Information The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company has not experienced any credit loss relating to its cash equivalents and strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The Company adopted this guidance on February 1, 2021, which did not have a material effect on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU on the Company’s consolidated financial statements.

Stock-Based Compensation - Assumptions (Details)	9 Months Ended
Stock-Based Compensation - Assumptions (Details)	Oct. 31, 2021	Oct. 31, 2020
Stock options
Stock Based Compensation
Dividend yield	0.00%	0.00%
Stock options \| Minimum
Stock Based Compensation
Expected term (in years)	3 years 9 months 18 days	3 years 2 months 12 days
Risk-free interest rate	0.60%	0.20%
Expected stock price volatility	36.10%	35.80%
Stock options \| Maximum
Stock Based Compensation
Expected term (in years)	5 years 7 months 6 days	6 years 1 month 6 days
Risk-free interest rate	1.00%	0.40%
Expected stock price volatility	37.10%	37.30%
Employee Stock Purchase Plan
Stock Based Compensation
Dividend yield	0.00%	0.00%
Employee Stock Purchase Plan \| Minimum
Stock Based Compensation
Expected term (in years)	6 months	6 months
Risk-free interest rate	0.00%	0.20%
Expected stock price volatility	33.00%	30.10%
Employee Stock Purchase Plan \| Maximum
Stock Based Compensation
Expected term (in years)	2 years	2 years
Risk-free interest rate	1.90%	2.00%
Expected stock price volatility	55.90%	54.30%

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 28, 2021 installment shares	May 31, 2019 purchasePeriod shares	Sep. 30, 2018 tranche installment	Oct. 31, 2021 USD ($) shares	Oct. 31, 2020 USD ($) $ / shares shares	Oct. 31, 2021 USD ($) changeInContribution $ / shares shares	Oct. 31, 2020 USD ($) $ / shares shares	Jan. 31, 2021 USD ($) shares	May 31, 2021 shares
Stock Based Compensation
Options unvested (in shares) \| shares				378,031		378,031
Aggregate intrinsic value of options vested and exercisable				$ 790,100		$ 790,100		$ 711,400
Weighted-average remaining contractual term of options vested and exercisable (in years)						6 years		6 years 4 months 24 days
Options granted (in shares) \| shares				0		93,000
Weighted-average grant date fair value of options granted (in usd per share) \| $ / shares					$ 121.00	$ 180.08	$ 66.31
Total intrinsic value of options exercised				$ 94,900	$ 162,400	$ 483,300	$ 516,400
Aggregate intrinsic value of stock options outstanding				1,200,000		$ 1,200,000		$ 1,400,000
Weighted-average remaining contractual term of stock options outstanding (in years)						6 years 4 months 24 days		7 years
Total unrecognized stock-based compensation expenses related to unvested options				$ 21,000		$ 21,000		$ 24,300
Issuance of common stock upon exercise of options (in shares) \| shares				0	0	0	0
Number of shares of common stock related to early exercised stock options subject to repurchase (in shares) \| shares				279,409		279,409		548,028
Value of common stock related to early exercised stock options subject to repurchase				$ 3,000		$ 3,000		$ 5,400
Maximum number of additional shares of common stock that may be issued (in shares) \| shares									5,000,000
Employee payroll contributions accrued				94,738		$ 94,738		$ 71,907
Stock options
Stock Based Compensation
Expected to be amortized over weighted-average vesting period (in years)						1 year 4 months 24 days		1 year 8 months 12 days
Stock options \| Minimum
Stock Based Compensation
Risk-free interest rate						0.60%	0.20%
Expected stock price volatility						36.10%	35.80%
Stock options \| Maximum
Stock Based Compensation
Risk-free interest rate						1.00%	0.40%
Expected stock price volatility						37.10%	37.30%
Service-based vesting
Stock Based Compensation
Number of vesting schedules \| tranche			4
Service-based vesting \| Vesting one
Stock Based Compensation
Vesting percentage			10.00%			25.00%
Number of quarterly installments \| installment			12
Service-based vesting \| Vesting two
Stock Based Compensation
Vesting percentage			15.00%
Number of quarterly installments \| installment			16
Service-based vesting \| Vesting three
Stock Based Compensation
Vesting percentage			25.00%
Number of quarterly installments \| installment			8
Service-based vesting \| Vesting four
Stock Based Compensation
Vesting percentage			50.00%
Number of quarterly installments \| installment			16
RSUs
Stock Based Compensation
Expected to be amortized over weighted-average vesting period (in years)						2 years 4 months 24 days
Total unrecognized stock-based compensation expenses related to unvested RSUs/PSUs				719,800		$ 719,800
PSUs
Stock Based Compensation
Expected to be amortized over weighted-average vesting period (in years)						1 year 3 months 18 days
Total unrecognized stock-based compensation expenses related to unvested RSUs/PSUs				56,900		$ 56,900
Special PSUs
Stock Based Compensation
Expected to be amortized over weighted-average vesting period (in years)						3 years 1 month 6 days
Number of quarterly installments \| installment	4
Total unrecognized stock-based compensation expenses related to unvested RSUs/PSUs				115,300		$ 115,300
Risk-free interest rate	0.85%
Expected stock price volatility	55.36%
Historical volatility rate, weight	50.00%
Implied volatility rate, weight	50.00%
Look back period	2 years 2 months 15 days
Special PSUs \| Chief Executive Officer
Stock Based Compensation
Granted (in shares) \| shares	540,000
Special PSUs \| Vesting one
Stock Based Compensation
Vesting percentage	50.00%
Special PSUs \| Vesting two
Stock Based Compensation
Vesting percentage	12.50%
Special PSUs \| Vesting three
Stock Based Compensation
Vesting percentage	12.50%
Special PSUs \| Vesting four
Stock Based Compensation
Vesting percentage	12.50%
Special PSUs \| Vesting five
Stock Based Compensation
Vesting percentage	12.50%
Employee Stock Purchase Plan
Stock Based Compensation
Threshold percentage of outstanding shares		1.00%
Offering period		24 months
Number of purchase periods \| purchasePeriod		4
Duration of purchase periods		6 months
Percentage of eligible compensation		15.00%
Maximum number of shares each participant can purchase during purchase period (in shares) \| shares		2,500
Purchase price, threshold percentage of fair market value		85.00%
Number of increases in contribution \| changeInContribution						1
Plan modification, incremental cost				1,100	$ 800	$ 5,400	$ 1,600
Employee payroll contributions accrued				$ 20,400		$ 20,400		$ 11,000
Employee Stock Purchase Plan \| Minimum
Stock Based Compensation
Risk-free interest rate						0.00%	0.20%
Expected stock price volatility						33.00%	30.10%
Employee Stock Purchase Plan \| Maximum
Stock Based Compensation
Risk-free interest rate						1.90%	2.00%
Expected stock price volatility						55.90%	54.30%
Class A common stock \| Employee Stock Purchase Plan
Stock Based Compensation
Maximum number of shares of common stock that may be issued (in shares) \| shares		3,500,000
2019 Plan \| Class A common stock
Stock Based Compensation
Maximum number of shares of common stock that may be issued (in shares) \| shares		8,750,000
Threshold percentage of outstanding shares		2.00%

Balance Sheet Components - Goodwill Rollforward (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2021 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 83,566
Goodwill acquired	291,273
Foreign currency translation	(950)
Goodwill, Ending Balance	$ 373,889

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Customers - Accounts receivable	9 Months Ended	12 Months Ended
	Oct. 31, 2021	Jan. 31, 2021
Channel partner A
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%	10.00%
Channel partner B
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	5.00%
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	0.00%	17.00%

Balance Sheet Components - Future Amortization Expense (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Fiscal 2022 (remaining three months)	$ 3,323
2023	13,253
2024	12,558
2025	12,474
2026	11,387
Thereafter	29,875
Net Amount	$ 82,870	$ 15,677

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (50,450)	$ (24,531)	$ (190,639)	$ (73,627)
Other comprehensive income (loss):
Foreign currency translation adjustments	(665)	(500)	(1,434)	926
Reversal of unrealized gain upon sale of debt securities, net of tax	0	0	0	(1,320)
Other comprehensive loss	(665)	(500)	(1,434)	(394)
Less: Comprehensive income attributable to noncontrolling interest	5	0	2,183	0
Total comprehensive loss attributable to CrowdStrike	$ (51,120)	$ (25,031)	$ (194,256)	$ (74,021)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Commitments and Contingencies - Purchase Obligations (Details) $ in Thousands	Oct. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fiscal 2022 (remaining three months)	$ 23,806
2023	57,566
2024	54,492
2025	10,047
2026	7,299
Thereafter	2,546
Total purchase commitments	$ 155,756

Acquisitions- Identifiable Intangible Assets (Details) - USD ($) $ in Thousands			9 Months Ended	12 Months Ended
	Mar. 05, 2021	Sep. 30, 2020	Oct. 31, 2021	Jan. 31, 2021
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Life			84 months	56 months
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Useful Life			74 months	54 months
Humio Limited
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 75,600
Humio Limited \| Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 68,800
Useful Life	96 months
Humio Limited \| Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 5,400
Useful Life	96 months
Humio Limited \| Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 1,400
Useful Life	24 months
Preempt
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 16,385
Preempt \| Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 13,200
Useful Life		60 months
Preempt \| Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 3,100
Useful Life		60 months
Preempt \| Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 85
Useful Life		12 months

Balance Sheet Components - Accrued Expenses (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Accrued Expenses
Web hosting services	$ 29,881	$ 14,187
Other accrued expenses	15,138	11,372
Accrued purchases of property and equipment	11,605	687
Accrued marketing	9,791	14,592
Accrued legal and accounting	5,593	4,570
Accrued interest expense	4,750	5,709
Accrued expenses	76,758	51,117
Accrued Payroll and Benefits
Accrued commissions	36,439	10,969
Accrued payroll and related expenses	22,289	32,300
Employee Stock Purchase Plan	20,361	12,110
Accrued bonuses	15,649	16,528
Accrued payroll and benefits	$ 94,738	$ 71,907

Acquisitions

9 Months Ended

Oct. 31, 2021

Business Combination And Asset Acquisition [Abstract]

Acquisitions

Humio Limited

On March 5, 2021, the Company acquired 100% of the equity interest of Humio Limited (“Humio”), a privately-held company that is a leading provider of high-performance cloud log management and observability technology. The total consideration transferred was $370.3 million which consisted of $353.8 million in cash, net of $12.5 million cash acquired, and $4.0 million representing the fair value of replacement equity awards attributable to pre-acquisition service. The purchase price was allocated, on a preliminary basis, to identified intangible assets, which include developed technology, customer relationships, and trade names, of $75.6 million, net tangible assets acquired of $3.4 million, and goodwill of $291.3 million allocated to the Company’s one reporting unit, representing the excess of the purchase price over the fair value of net tangible and intangible assets acquired. The goodwill was primarily attributable to the assembled workforce of Humio, planned growth in new markets, and synergies expected to be achieved from the integration of Humio. Goodwill is not deductible for income tax purposes.

Per the terms of the share purchase agreement with Humio, certain unvested stock options held by Humio employees were canceled and exchanged for replacement stock options under the 2019 Plan. Additionally, certain shares of stock issued pursuant to share-based compensation awards to entities affiliated with certain Humio employees were exchanged for replacement RSAs of the Company, which are subject to future vesting. The portion of the fair value of the replacement equity awards associated with pre-acquisition service of Humio’s employees represented a component of the total purchase consideration. The remaining fair value of these issued awards is subject to the recipients’ continued service and thus were excluded from the purchase price. In addition, Humio employees were granted RSUs and PSUs under the 2019 Plan. The awards which are subject to continued service will be recognized ratably as stock-based compensation expense over the requisite service period. The awards which are based on specified performance targets will be recognized under the accelerated attribution method.

The following table sets forth the preliminary fair value of the identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollar in thousands):


	Fair Value		Useful Life
			(in months)
Developed technology	$	68,800	96
Customer relationships	5,400		96
Trade names	1,400		24
Total intangible assets acquired	$	75,600

The Company incurred non-consideration acquisition expense of $0.3 million and $5.0 million during the three and nine months ended October 31, 2021, respectively. The acquisition costs are recorded in general and administrative expenses in the Company’s condensed consolidated statement of operations.

The results of operations of Humio have been included in the Company’s condensed consolidated financial statements from the date of acquisition. The acquisition of Humio did not have a material impact on the Company’s condensed consolidated financial statements, and therefore historical and pro forma disclosures have not been presented.

Preempt Security, Inc.

On September 30, 2020, the Company acquired 100% of the equity interest of Preempt Security, Inc. (“Preempt Security”), a privately-held Delaware corporation that developed real-time access control and threat prevention technology. The acquisition has been accounted for as a business combination. The total consideration transferred was $91.2 million which consisted of $87.4 million in cash and $3.8 million representing the fair value of replacement equity awards attributable to pre-acquisition service. The Company completed the valuation of the acquired identified intangible assets as of September 30, 2020. The purchase price was allocated to identified intangible assets, which include developed technology, customer relationships and trade names, of $16.4 million, net tangible assets acquired of $(0.5) million and goodwill of $75.3 million allocated to the Company’s one reporting segment, representing the excess of the purchase price over the fair value of net tangible and intangible assets acquired. The goodwill was primarily attributable to the assembled workforce of Preempt Security, planned growth in new markets and synergies expected to be achieved from the integration of Preempt Security. Goodwill is not deductible for income tax purposes.

Per the terms of the merger agreement with Preempt Security, certain unvested stock options held by Preempt Security employees were canceled and exchanged for replacement stock options under the 2019 Plan. Additionally, certain shares of stock issued pursuant to share-based compensation awards to key employees of Preempt Security were canceled and exchanged for replacement RSUs of the Company, which are subject to future vesting. The portion of the fair value of the replacement equity awards associated with pre-acquisition service of Preempt Security’s employees represented a component of the total purchase consideration. The remaining fair value of these issued awards is subject to the recipients’ continued service with the Company and the achievement of specified performance targets, and thus were excluded from the purchase price. The awards which are subject to continued service will be recognized ratably as stock-based compensation expense over the requisite service period. The awards which are based on specified performance targets will be recognized under the accelerated attribution method.

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollar in thousands):


	Fair Value		Useful Life
			(in months)
Developed technology	$	13,200	60
Customer relationships	3,100		60
Trade names	85		12
Total intangible assets acquired	$	16,385

The Company did not incur non-consideration acquisition expense during the three months ended October 31, 2021. The Company incurred non-consideration acquisition expense of $0.3 million during the nine months ended October 31, 2021. The acquisition costs are recorded in general and administrative expenses in the Company’s condensed consolidated statement of operations.

The results of operations of Preempt Security have been included in the Company’s condensed consolidated financial statements from the date of acquisition. The acquisition of Preempt Security did not have a material impact on the Company’s condensed consolidated financial statements, and therefore historical and pro forma disclosures have not been presented.

Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	13,730,000	19,037,000
Contingent consideration related to business combinations	$ 8.5
Contingent consideration vesting period	2 years
Shares issued	11,313
Weighted average price (in dollars per share)	$ 253.42
Shares of common stock subject to repurchase from outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	279,000	638,000
RSUs and PSUs subject to future vesting
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	8,472,000	8,747,000
Shares of common stock issuable from stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	4,421,000	8,521,000
Share purchase rights under the employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	558,000	1,131,000

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Non-controlling Interest
Beginning balance (in shares) at Jan. 31, 2020		212,948
Beginning balance at Jan. 31, 2020	$ 742,607	$ 106	$ 1,378,479	$ (637,487)	$ 1,009	$ 500
Stockholders' Deficit
Issuance of common stock upon exercise of options (in shares)		5,966
Issuance of common stock upon exercise of options	21,522	$ 5	21,517
Issuance of common stock under RSU release (in shares)		1,475
Issuance of common stock under employee stock purchase plan (in shares)		565
Issuance of common stock under employee stock purchase plan	17,284		17,284
Vesting of early exercised stock options	2,521		2,521
Stock-based compensation expense	101,883		101,883
Capitalized stock-based compensation	1,876		1,876
Fair value of replacement equity awards attributable to pre-acquisition service	313		313
Net income (loss)	(73,627)			(73,627)
Non-controlling interest	800					800
Other comprehensive loss	(394)				(394)
Ending balance (in shares) at Oct. 31, 2020		220,954
Ending balance at Oct. 31, 2020	814,785	$ 111	1,523,873	(711,114)	615	1,300
Beginning balance (in shares) at Jul. 31, 2020		219,194
Beginning balance at Jul. 31, 2020	792,015	$ 110	1,476,323	(686,583)	1,115	1,050
Stockholders' Deficit
Issuance of common stock upon exercise of options (in shares)		1,277
Issuance of common stock upon exercise of options	4,921	$ 1	4,920
Issuance of common stock under RSU release (in shares)		483
Vesting of early exercised stock options	799		799
Stock-based compensation expense	40,532		40,532
Capitalized stock-based compensation	986		986
Fair value of replacement equity awards attributable to pre-acquisition service	313		313
Net income (loss)	(24,531)			(24,531)
Non-controlling interest	250					250
Other comprehensive loss	(500)				(500)
Ending balance (in shares) at Oct. 31, 2020		220,954
Ending balance at Oct. 31, 2020	814,785	$ 111	1,523,873	(711,114)	615	1,300
Beginning balance (in shares) at Jan. 31, 2021		223,724
Beginning balance at Jan. 31, 2021	$ 871,874	$ 112	1,598,259	(730,116)	2,319	1,300
Stockholders' Deficit
Issuance of common stock upon exercise of options (in shares)	2,136	2,136
Issuance of common stock upon exercise of options	$ 12,796	$ 2	12,794
Issuance of common stock under RSU release (in shares)		2,680
Issuance of common stock under RSU and PSU release	0	$ 1	(1)
Issuance of common stock under employee stock purchase plan (in shares)		689
Issuance of common stock under employee stock purchase plan	27,452		27,452
Issuance of common stock upon exercise of options (in shares)		57
Vesting of early exercised stock options	2,389		2,389
Issuance of common stock for founders holdbacks related to acquisitions (in shares)		11
Issuance of common stock for founders holdbacks related to acquisitions	2,867		2,867
Stock-based compensation expense	214,716		214,716
Capitalized stock-based compensation	7,633		7,633
Fair value of replacement equity awards attributable to pre-acquisition service	4,011		4,011
Net income (loss)	(190,639)			(192,822)		2,183
Non-controlling interest	7,905					7,905
Other comprehensive loss	(1,434)				(1,434)
Ending balance (in shares) at Oct. 31, 2021		229,297
Ending balance at Oct. 31, 2021	959,570	$ 115	1,870,120	(922,938)	885	11,388
Beginning balance (in shares) at Jul. 31, 2021		228,152
Beginning balance at Jul. 31, 2021	911,401	$ 114	1,775,087	(872,483)	1,550	7,133
Stockholders' Deficit
Issuance of common stock upon exercise of options (in shares)		375
Issuance of common stock upon exercise of options	2,580		2,580
Issuance of common stock under RSU release (in shares)		759
Issuance of common stock under RSU and PSU release	0	$ 1	(1)
Vesting of early exercised stock options	795		795
Issuance of common stock for founders holdbacks related to acquisitions (in shares)		11
Issuance of common stock for founders holdbacks related to acquisitions	2,867		2,867
Stock-based compensation expense	85,706		85,706
Capitalized stock-based compensation	3,086		3,086
Net income (loss)	(50,450)			(50,455)		5
Non-controlling interest	4,250					4,250
Other comprehensive loss	(665)				(665)
Ending balance (in shares) at Oct. 31, 2021		229,297
Ending balance at Oct. 31, 2021	$ 959,570	$ 115	$ 1,870,120	$ (922,938)	$ 885	$ 11,388

Stock-Based Compensation

9 Months Ended

Oct. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock Incentive Plan

In May 2019, the Company’s board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan (the “2019 Plan”) with the purpose of granting stock-based awards to employees, directors, officers and consultants, including stock options, restricted stock awards, restricted stock units and performance-based restricted stock units. A total of 8,750,000 shares of Class A common stock were initially available for issuance under the 2019 Plan. The Company’s compensation committee administers the 2019 Plan. The number of shares of the Company’s common stock available for issuance under the 2019 Plan is subject to an annual increase on the first day of each fiscal year beginning on February 1,

2020, equal to the lesser of: (i) two percent (2.0%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as the Company’s board of directors may determine.

The 2011 Plan was terminated on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO, and stock-based awards are no longer granted under the 2011 Plan. Any shares underlying stock options that expire or terminate or are forfeited or repurchased under the 2011 Plan will be automatically transferred to the 2019 Plan.

Stock Options

The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The expected term represents the period that the Company’s share-based awards are expected to be outstanding. The expected term assumptions were determined based on the vesting terms, exercise terms, and contractual lives of the options. The expected stock price volatility is based upon comparable public company data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated option life.

The fair value of each option was estimated on the date of grant using the following assumptions during the period:


	Nine Months Ended October 31,

	2021		2020
Expected term (in years)	3.8 - 5.6		3.2 - 6.1
Risk-free interest rate	0.6% - 1.0%		0.2% - 0.4%
Expected stock price volatility	36.1% - 37.1%		35.8% - 37.3%
Dividend yield	—	%	—	%

The following table is a summary of stock option activity for the nine months ended October 31, 2021:


	Number of Shares	Weighted-Average Exercise Price Per Share
	(in thousands)
Options outstanding at January 31, 2021	6,646	$	8.24
Granted	93	$	3.19
Exercised	(2,136)	$	5.99
Canceled	(182)	$	30.31
Options outstanding at October 31, 2021	4,421	$	8.32
Options vested and expected to vest at October 31, 2021	4,421	$	8.32
Options exercisable at October 31, 2021	2,871	$	6.56

Options outstanding include 378,031 options that were unvested as of October 31, 2021.

The aggregate intrinsic value of options vested and exercisable was $790.1 million and $711.4 million as of October 31, 2021 and January 31, 2021, respectively. The weighted-average remaining contractual term of options vested and exercisable was 6.0 years and 6.4 years as of October 31, 2021 and January 31, 2021, respectively.

No options were granted during the three months ended October 31, 2021. The weighted-average grant date fair values of all options granted was $121.00 per share during the three months ended October 31, 2020, and $180.08 and $66.31 per share during the nine months ended October 31, 2021 and October 31, 2020, respectively. The total intrinsic value of all options exercised was $94.9 million and $162.4 million during the three months ended October 31, 2021 and October 31, 2020, respectively, and $483.3 million and $516.4 million during the nine months ended October 31, 2021 and October 31, 2020, respectively.

The aggregate intrinsic value of stock options outstanding as of October 31, 2021 and January 31, 2021 was $1.2 billion and $1.4 billion, respectively, which represents the excess of the fair value of the Company’s common stock over the exercise price of the options multiplied by the number of options outstanding. The weighted-average remaining contractual term of stock options outstanding was 6.4 years and 7.0 years as of October 31, 2021 and January 31, 2021, respectively.

Total unrecognized stock-based compensation expense related to unvested options was $21.0 million as of October 31, 2021. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 1.4 years. Total unrecognized stock-based compensation expense related to unvested options was $24.3 million as of January 31, 2021. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 1.7 years.

Early Exercise of Employee Options

The 2011 Stock Plan allows for the early exercise of stock options for certain individuals as determined by the Board of Directors. The consideration received for an early exercise of an option is a deposit of the exercise price and the related dollar amount is recorded as a liability for early exercise of unvested stock options in the condensed consolidated balance sheets. This liability is reclassified to additional paid-in capital as the awards vest. If a stock option is early exercised, the unvested shares may be repurchased by the Company in case of employment termination or for any reason, including death and disability, at the price paid by the purchaser for such shares. There were no issued shares of common stock related to early exercised stock options for the three and nine months ended October 31, 2021 or October 31, 2020. As of October 31, 2021, the number of shares of common stock related to early exercised stock options subject to repurchase was 279,409 shares for $3.0 million. As of January 31, 2021, the number of shares of common stock related to early exercised stock options subject to repurchase was 548,028 shares for $5.4 million. Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The Company includes unvested shares subject to repurchase in the number of shares outstanding in the condensed consolidated balance sheet and statements of stockholders’ equity.

Restricted Stock Units

Restricted Stock Units (“RSUs”) granted under the 2019 Plan are generally subject to only service-based vesting condition. The service-based vesting condition is generally satisfied based on one of four vesting schedules: (i) vesting of one-fourth of the RSUs on the first “Company vest date” (defined as March 20, June 20, September 20, or December 20) on or following the one-year anniversary of the vesting commencement date with the remainder of the RSUs vesting in twelve equal quarterly installments thereafter, subject to continued service, (ii) vesting in sixteen equal quarterly installments, subject to continued service, (iii) vesting in eight equal quarterly installments, subject to continued service, or (iv) vesting sixteen quarterly installments with 10% in the first year, 15% in the second year, 25% in the third year and 50% in the fourth year, subject to continued service. The valuation of such RSUs is based solely on the fair value of the Company’s stock price on the date of grant.

Expense for RSUs that have a service-based vesting condition only are being amortized on a straight-line basis. Expense for RSUs that have both a service-based and a performance-based vesting condition are being amortized under the accelerated attribution method. Total unrecognized stock-based compensation expense related to unvested RSUs was $719.8 million as of October 31, 2021. This expense is expected to be amortized (subject to acceleration or straight-line basis) over a weighted-average vesting period of 2.4 years.

Performance-based Stock Units

Performance-based stock units (“PSUs”) granted under the 2019 Plan are generally subject to both a service-based vesting condition and a performance-based vesting condition. PSUs will vest upon the achievement of specified performance targets and subject to continued service through the applicable vesting dates. The compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied.

Expense for PSUs is being amortized under the accelerated attribution method and may be adjusted over the vesting period based on interim estimates of performance against pre-set objectives.

Total unrecognized stock-based compensation expense related to unvested PSUs was $56.9 million as of October 31, 2021. This expense is expected to be amortized over a weighted-average vesting period of 1.3 years.

Special PSU Award

On August 28, 2021, the Company’s Board of Directors granted 540,000 performance stock units to George Kurtz, the Company’s President and Chief Executive Officer (the “Special PSU Award”). The Special PSU Award will vest upon the satisfaction of the Company’s achievement of specified stock price hurdles, which is based on the average of the closing stock price per share of the Company’s Class A common stock during any 45 consecutive trading day period during the applicable performance period, and a service-based vesting condition. The service condition applicable to each tranche of the Special PSU Award will be satisfied in installments as follows, subject to continued employment with the Company through each applicable vesting date: (i) 50% of the Special PSU Award underlying the applicable tranche will service vest on the first anniversary of the

vesting commencement date applicable to such tranche of the Special PSU Award (i.e., February 1, 2022, February 1, 2023, February 1, 2024 and February 1, 2025) and (ii) the remaining PSUs with respect to such tranche will thereafter service vest in four equal quarterly installments of 12.5%.

The Company measured the fair value of the Special PSU Award using a Monte Carlo simulation valuation model. The risk-free interest rate used was 0.85%, which is based on the zero-coupon-risk-free interest rate derived from the Treasury Constant Maturities yield curve for the expected term of the award on the grant date. The expected volatility is a blended volatility rate of 55.36%, which includes 50% weight on the Company’s historical volatility calculated from daily stock returns over a 2.21-year look-back from the grant date and 50% weight based on the Company’s implied volatility as of the grant date.

Stock-based compensation expense relating to the Special PSU Award is recognized using the accelerated attribution method.

Total unrecognized stock-based compensation expense related to the unvested portion of the Special PSU Award was $115.3 million as of October 31, 2021. This expense is expected to be amortized over a weighted-average vesting period of 3.1 years.

The following table is a summary of RSUs, PSUs and the Special PSU Award activities for the nine months ended October 31, 2021:


	Number of Shares	Weighted- Average Grant Date Fair Value Per Share
	(in thousands)
RSUs, PSUs and the Special PSU Award outstanding at January 31, 2021	8,449	$	59.27
Granted	2,964	$	229.47
Vested	(2,680)	$	58.59
Performance adjustment (1)	153	$	58.15
Forfeited	(414)	$	99.42
RSUs, PSUs and the Special PSU Award outstanding at October 31, 2021	8,472	$	117.05
RSUs, PSUs, and the Special PSU Award expected to vest at October 31, 2021	8,472	$	117.05

__________________________________

(1)Performance adjustment represents adjustments in shares outstanding due to the actual achievement of performance based awards, the achievement of which was based upon predefined financial performance targets.

Employee Stock Purchase Plan

In May 2019, the board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Employee Stock Purchase Plan (“ESPP”), which became effective on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO. A total of 3,500,000 shares of Class A common stock were initially reserved for issuance under the ESPP. The Company’s compensation committee administers the ESPP. The number of shares of common stock available for issuance under the ESPP is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) one percent (1%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as its board of directors may determine. In May 2021, the Company’s compensation committee adopted an amendment and restatement of the ESPP, which was approved by the Company’s stockholders in June 2021. The amended and restated ESPP clarified the original intent that the annual increase will in no event exceed 5,000,000 shares of the Company’s Class A common stock in any year.

The ESPP provides for consecutive offering periods that will typically have a duration of approximately 24 months in length and is comprised of four purchase periods of approximately six months in length. The offering periods are scheduled to start on the first trading day on or after June 11 and December 11 of each year. The first offering period commenced on June 11, 2019 and ended on June 10, 2021.

The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s Class A common stock through payroll deductions of up to 15% of their eligible compensation. A participant may purchase a maximum of 2,500 shares of common stock during a purchase period. Amounts deducted and accumulated by the participant are used to purchase shares of common stock at the end of each six-month purchase period. The purchase price of the shares shall be 85% of the lower of the fair market value of the Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the related offering period. Participants may end their participation at any time during an offering period and will be paid their accrued contributions that have not yet been used to purchase shares of common stock. Participation ends automatically upon termination of employment. The ESPP allows for up to one increase in contribution during each purchase period. If an employee elects to increase his or her contribution, the Company treats this as an accounting modification. The pre- and post-modification fair values are calculated on the date of the modification, and the incremental expense is then amortized over the remaining purchase period. Incremental expense as a result of such modification was $1.1 million and $0.8 million for the three months ended October 31, 2021 and October 31, 2020, respectively, and $5.4 million and $1.6 million for the nine months ended October 31, 2021 and October 31, 2020, respectively.

Employee payroll contributions ultimately used to purchase shares are reclassified to stockholders’ equity on the purchase date. ESPP employee payroll contributions accrued at October 31, 2021 and January 31, 2021 totaled $20.4 million and $11.0 million are included within accrued payroll and benefits in the condensed consolidated balance sheets.

The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine fair value of the Company’s common shares to be issued under the ESPP for the offering periods beginning in June 2019:


	Nine Months Ended October 31,
	2021		2020
Expected term (in years)	0.5 - 2.0		0.5 - 2.0
Risk-free interest rate	0.0% - 1.9%		0.2% - 2.0%
Expected stock price volatility	33.0% - 55.9%		30.1% - 54.3%
Dividend yield	—	%	—	%

Stock-Based Compensation Expense

Stock-based compensation expense included in the condensed consolidated statements of operations is as follows (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020


Subscription cost of revenue	$	5,969	$	3,226	$	15,548	$	7,856
Professional services cost of revenue	2,546		1,551		6,963		3,947
Sales and marketing	25,499		12,811		68,178		35,101
Research and development	27,333		11,771		70,942		25,700
General and administrative	25,319		11,251		55,684		29,357
Total stock-based compensation expense	$	86,666	$	40,610	$	217,315	$	101,961

Investments and Fair Value Measurements - Strategic Investments (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Fair Value Disclosures [Abstract]
Total initial cost	$ 18,309	$ 2,500
Unrealized gains due to changes in fair value	4,356	0
Carrying value	$ 22,665	$ 2,500

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 369,280	$ 255,548
Less: Accumulated depreciation and amortization	(127,056)	(88,534)
Property and equipment, net	242,224	167,014
Data center and other computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	187,777	146,220
Capitalized internal-use software and website development
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	60,053	44,358
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22,302	19,733
Purchased software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,266	3,211
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,050	6,498
Construction in process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 86,832	$ 35,528

Revenue, Deferred Revenue and Remaining Performance Obligations - Revenue from Contracts by Type and Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 380,051	$ 232,460	$ 1,020,584	$ 609,509
Percentage of revenue	100.00%	100.00%	100.00%	100.00%
United States
Disaggregation of Revenue [Line Items]
Total revenue	$ 276,698	$ 167,741	$ 741,168	$ 438,955
Percentage of revenue	73.00%	72.00%	73.00%	72.00%
Europe, Middle East, and Africa
Disaggregation of Revenue [Line Items]
Total revenue	$ 50,721	$ 33,192	$ 138,920	$ 86,785
Percentage of revenue	13.00%	14.00%	14.00%	14.00%
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	$ 37,265	$ 20,551	$ 99,263	$ 53,186
Percentage of revenue	10.00%	9.00%	9.00%	9.00%
Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 15,367	$ 10,976	$ 41,233	$ 30,583
Percentage of revenue	4.00%	5.00%	4.00%	5.00%
Channel Partners
Disaggregation of Revenue [Line Items]
Total revenue	$ 282,774	$ 175,837	$ 761,597	$ 459,529
Percentage of revenue	74.00%	76.00%	75.00%	75.00%
Direct Customers
Disaggregation of Revenue [Line Items]
Total revenue	$ 97,277	$ 56,623	$ 258,987	$ 149,980
Percentage of revenue	26.00%	24.00%	25.00%	25.00%

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Income Taxes	9 Months Ended
Income Taxes	Oct. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recognized an income tax expense of $4.5 million and $0.5 million for the three months ended October 31, 2021 and October 31, 2020, respectively, and $58.8 million and $1.9 million for the nine months ended October 31, 2021 and October 31, 2020, respectively. The tax expense for the three months ended October 31, 2021 was primarily attributable to pre-tax foreign earnings. The tax expense for the nine months ended October 31, 2021 was primarily attributable to pre-tax foreign earnings and the intercompany sale of intellectual property from Humio. The Company transferred acquired intellectual property from the foreign subsidiary to the U.S. Although the transfer of the intellectual property between consolidated entities did not result in any gain in the consolidated results of operations, the Company generated a taxable gain in the foreign jurisdiction resulting in an additional tax expense of $48.8 million. The Company’s effective tax rates of (9.7)% and (1.9)% for the three months ended October 31, 2021 and October 31, 2020, respectively, and (43.8)% and (2.7)% for the nine months ended October 31, 2021 and October 31, 2020, respectively, differ from the U.S. statutory tax rate primarily due to U.S. losses for which there is no benefit and the tax impact from the intercompany sale of intellectual property from Humio for the nine months ended October 31, 2021. The Company has a full valuation allowance on its U.S. federal and state and its U.K. deferred tax assets. As a result, consistent with the prior year, the Company does not record a tax benefit on these losses because it is more likely than not that the benefit will not be realized. The balance of gross unrecognized tax benefits was $39.5 million and $24.4 million as of October 31, 2021 and January 31, 2021, respectively. The increase was primarily due to establishing an uncertain tax position associated with research & development tax credits. As of October 31, 2021 and January 31, 2021, approximately $1.3 million and $0.6 million, respectively of the unrecognized tax benefits including interest and penalties would affect the Company’s effective tax rate if favorably resolved. In the third quarter of fiscal 2022, given management’s determination of the timing of cash payments, long-term tax liability of $21.6 million was reclassified to short-term and is no longer considered an uncertain tax position by the Company. The Company expects to have resolution on discussions with tax authorities on certain tax matters, which will likely have an impact on the Company’s provision for income taxes in the fourth quarter. The Company is subject to examination by tax authorities both domestically and internationally. The Company believes that adequate amounts have been reserved for any adjustments that may result from these examinations, although the Company cannot assure that this will be the case given the inherent uncertainties in these examinations. It is impractical to determine the amount and timing of these adjustments. In accordance with the guidance on the accounting for uncertainty in income taxes, for all U.S. and other tax jurisdictions, the Company recognizes potential liabilities for anticipated tax audit issues based on the Company’s estimate of whether, and the extent to which, additional taxes and interest will be due. If the Company’s estimate of income tax liabilities proves to be less than the ultimate assessment, a further charge to expense would be required. If events occur and the payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. The Company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes in the condensed consolidated statements of operations. Accrued interest and penalties are included within other liabilities, noncurrent on the condensed consolidated balance sheet.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 86,666	$ 40,610	$ 217,315	$ 101,961
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	25,499	12,811	68,178	35,101
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	27,333	11,771	70,942	25,700
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	25,319	11,251	55,684	29,357
Subscription \| Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	5,969	3,226	15,548	7,856
Professional services \| Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 2,546	$ 1,551	$ 6,963	$ 3,947

Revenue, Deferred Revenue and Remaining Performance Obligations - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Movement in Deferred Revenue [Roll Forward]
Beginning Balance	$ 1,164,357	$ 689,840	$ 911,895	$ 571,168
Additions to deferred revenue	503,890	305,294	1,396,885	801,015
Recognition of deferred revenue	(380,051)	(232,460)	(1,020,584)	(609,509)
Ending Balance	$ 1,288,196	$ 762,674	$ 1,288,196	$ 762,674

Balance Sheet Components (Tables)

9 Months Ended

Oct. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Prepaid software licenses	$	21,262	$	20,596
Prepaid expenses	17,068		12,220
Prepaid marketing	9,889		10,852
Other current assets	7,975		4,566
Prepaid hosting services	4,476		5,383
Prepaid expenses and other current assets	$	60,670	$	53,617

Property, plant and equipment

Property and equipment, net consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Data center and other computer equipment	$	187,777	$	146,220
Capitalized internal-use software and website development	60,053		44,358
Leasehold improvements	22,302		19,733
Purchased software	5,266		3,211
Furniture and equipment	7,050		6,498
Construction in process	86,832		35,528
	369,280		255,548
Less: Accumulated depreciation and amortization	(127,056)		(88,534)
Property and equipment, net	$	242,224	$	167,014

Schedule of total intangible assets, net

Intangible Assets, Net

Total intangible assets, net consisted of the following (dollar in thousands):


	October 31, 2021						Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount
							(in months)
Developed technology	$	82,396	$	8,822	$	73,574	84
Customer relationships	9,068		1,556		7,512		74
Other acquired intangible assets	2,401		617		1,784		75
Total	$	93,865	$	10,995	$	82,870


	January 31, 2021						Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount

							(in months)
Developed technology	$	14,513	$	2,193	$	12,320	56
Customer relationships	3,769		649		3,120		54
Other acquired intangible assets	399		162		237		185
Total	$	18,681	$	3,004	$	15,677

Schedule of estimated aggregate future amortization expense of intangible assets

The estimated aggregate future amortization expense of intangible assets as of October 31, 2021 is as follows (in thousands):


	Total

Fiscal 2022 (remaining three months)	$	3,323
Fiscal 2023	13,253
Fiscal 2024	12,558
Fiscal 2025	12,474
Fiscal 2026	11,387
Thereafter	29,875
Total amortization expense	$	82,870

Schedule of goodwill

The changes in goodwill during the nine months ended October 31, 2021 consisted of the following (in thousands):


	Amounts


Goodwill as of January 31, 2021	$	83,566
Goodwill acquired(1)	291,273
Foreign currency translation	(950)
Goodwill as of October 31, 2021	$	373,889

__________________________________

(1)Goodwill acquired resulted from the acquisition of Humio. Refer to Note 12 for additional information.

Schedule of other assets, noncurrent

Other assets, noncurrent consisted of the following (in thousands):


	October 31, 2021		January 31, 2021

Other assets, noncurrent	$	11,441	$	8,627
Deferred finance cost, noncurrent	4,499		4,355
Deferred income tax asset, noncurrent	3,065		1,328
Deposits, noncurrent	2,676		2,802
Other assets, noncurrent	$	21,681	$	17,112

Summary of accrued expenses

Accrued expenses consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Web hosting services	$	29,881	$	14,187
Other accrued expenses	15,138		11,372
Accrued purchases of property and equipment	11,605		687
Accrued marketing	9,791		14,592
Accrued legal and accounting	5,593		4,570
Accrued interest expense	4,750		5,709
Accrued expenses	$	76,758	$	51,117

Summary of accrued payroll and benefits

Accrued payroll and benefits consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Accrued commissions	$	36,439	$	32,300
Accrued payroll and related expenses	22,289		16,528
Employee Stock Purchase Plan	20,361		10,969
Accrued bonuses	15,649		12,110
Accrued payroll and benefits	$	94,738	$	71,907

Other current liabilities

Other current liabilities consisted of the following (in thousands):


	October 31, 2021		January 31, 2021

Income tax payable	$	62,678	$	2,639
Other current liabilities	12,850		9,652
Accrued taxes	1,632		2,837
Customer deposits	1,447		2,371
Other current liabilities	$	78,607	$	17,499

Related Party Transactions	9 Months Ended
Related Party Transactions	Oct. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Subscription and Professional Services Revenue from Related Parties During the three and nine months ended October 31, 2021 and October 31, 2020, certain investors and companies with whom the Company’s Board of Directors are affiliated with, purchased subscriptions and professional services. The Company recorded revenue from subscriptions and professional services from related parties of $1.8 million and $1.1 million during the three months ended October 31, 2021 and October 31, 2020, respectively, and $5.4 million and $3.0 million during the nine months ended October 31, 2021 and October 31, 2020, respectively. Accounts receivable associated with these related parties was $0.7 million and $1.3 million as of October 31, 2021 and January 31, 2021, respectively. Accounts Payable to Related Parties The Company purchased goods and services totaling $5.0 million and $6.0 million, respectively, from certain investors and companies with whom its Board of Directors are affiliated with during the three months ended October 31, 2021 and October 31, 2020, respectively, and $18.5 million and $6.2 million during the nine months ended October 31, 2021 and October 31, 2020, respectively. The accounts payable to such vendors was immaterial as of October 31, 2021 and January 31, 2021

Balance Sheet Components - Other Current Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Income tax payable	$ 62,678	$ 2,639
Other current liabilities	12,850	9,652
Accrued taxes	1,632	2,837
Customer deposits	1,447	2,371
Other current liabilities	$ 78,607	$ 17,499

Debt (Details)			3 Months Ended	9 Months Ended
Debt (Details)	Jan. 20, 2021 USD ($)	Jan. 04, 2021 USD ($)	Oct. 31, 2021 USD ($)	Oct. 31, 2021 USD ($)	Jan. 31, 2021 USD ($)	Apr. 30, 2019 USD ($)
A&R Credit Agreement
Line of Credit Facility [Line Items]
Minimum interest coverage ratio			3.00	3.00
Maximum senior secured leverage ratio			3.00	3.00
Maximum total leverage ratio			5.50	5.50
Maximum total leverage ratio, stepped down			3.50	3.50
A&R Credit Agreement \| Minimum
Line of Credit Facility [Line Items]
Commitment fee		0.15%
A&R Credit Agreement \| Maximum
Line of Credit Facility [Line Items]
Commitment fee		0.25%
3.00% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 750,000,000
Stated interest rate	3.00%
Proceeds from issuance of Senior Notes, net of debt financing costs	$ 738,000,000
Payment for underwriting commissions	9,400,000
Payments of financing costs	$ 2,600,000
Interest expense, amortization of debt issuance costs and accretion of debt discount			$ 6,000,000	$ 18,000,000
Debt instrument, fair value			742,800,000	742,800,000
3.00% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Line of Credit Facility [Line Items]
Percentage of original principal amount	40.00%
3.00% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Two
Line of Credit Facility [Line Items]
Redemption percentage	101.50%
3.00% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Three
Line of Credit Facility [Line Items]
Redemption percentage	100.75%
3.00% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Four
Line of Credit Facility [Line Items]
Redemption percentage	100.00%
3.00% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Five
Line of Credit Facility [Line Items]
Redemption percentage	101.00%
3.00% Senior Notes \| Senior Notes \| Plus "Make Whole" Premium \| Debt Instrument, Redemption, Period One
Line of Credit Facility [Line Items]
Redemption percentage	100.00%
3.00% Senior Notes \| Senior Notes \| Proceeds From Equity Offering, Provided Principal Amount of Redemptions Does Not Exceed 40% \| Debt Instrument, Redemption, Period One
Line of Credit Facility [Line Items]
Redemption percentage	103.00%
Revolving line of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 150,000,000
Unused standby letter of credit			$ 0	$ 0	$ 0
Revolving line of credit \| A&R Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 750,000,000
Incremental borrowing facility		250,000,000
Letter of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity						10,000,000
Letter of credit \| A&R Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		100,000,000
Swingline
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 10,000,000
Swingline \| A&R Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 50,000,000
Eurodollar Loans \| A&R Credit Agreement \| LIBOR
Line of Credit Facility [Line Items]
Margin		0.00%
Eurodollar Loans \| A&R Credit Agreement \| LIBOR \| Minimum
Line of Credit Facility [Line Items]
Margin		1.50%
Eurodollar Loans \| A&R Credit Agreement \| LIBOR \| Maximum
Line of Credit Facility [Line Items]
Margin		2.00%
ABR Loans \| A&R Credit Agreement \| Federal funds rate
Line of Credit Facility [Line Items]
Margin		0.50%
ABR Loans \| A&R Credit Agreement \| Eurodollar rate
Line of Credit Facility [Line Items]
Margin		1.00%
ABR Loans \| A&R Credit Agreement \| Eurodollar rate \| Minimum
Line of Credit Facility [Line Items]
Margin		(0.25%)
ABR Loans \| A&R Credit Agreement \| Eurodollar rate \| Maximum
Line of Credit Facility [Line Items]
Margin		0.25%

Net Loss Per Share Attributable to Common Stockholders (Tables)

9 Months Ended

Oct. 31, 2021

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted net loss per share attributable to common stockholders"

The following table sets forth the computation of basic and diluted net loss per share attributable to CrowdStrike common stockholders (in thousands, except per share data):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020

Numerator:
Net loss attributable to Class A and Class B CrowdStrike common stockholders	$	(50,455)	$	(24,531)	$	(192,822)	$	(73,627)

Denominator:
Weighted-average shares used in computing net loss per share attributable to Class A and Class B of CrowdStrike common stockholders, basic and diluted	228,293		219,401		226,292		216,432

Net loss per share attributable to Class A and Class B CrowdStrike common stockholders, basic and diluted	$	(0.22)	$	(0.11)	$	(0.85)	$	(0.34)

Schedule of antidilutive securities excluded from computation of earnings per share

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows (in thousands):


	October 31, 2021	October 31, 2020


Shares of common stock subject to repurchase from outstanding stock options	279	638
RSUs and PSUs subject to future vesting	8,472	8,747
Shares of common stock issuable from stock options	4,421	8,521
Share purchase rights under the employee stock purchase plan	558	1,131
Potential common shares excluded from diluted net loss per share	13,730	19,037

Revenue, Deferred Revenue and Remaining Performance Obligations (Tables)

9 Months Ended

Oct. 31, 2021

Revenue from Contract with Customer [Abstract]

Summary of revenue from contracts by type of customer

The following table summarizes the revenue from contracts by type of customer (in thousands, except percentages):


	Three Months Ended October 31,								Nine Months Ended October 31,
	2021				2020				2021				2020
	Amount		% Revenue		Amount		% Revenue		Amount		% Revenue		Amount		% Revenue


Channel Partners	$	282,774	74	%	$	175,837	76	%	$	761,597	75	%	$	459,529	75	%
Direct Customers	97,277		26	%	56,623		24	%	258,987		25	%	149,980		25	%
Total revenue	$	380,051	100	%	$	232,460	100	%	$	1,020,584	100	%	$	609,509	100	%

Summary of revenue by region based on the shipping address of customers

The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service (in thousands, except percentages):


	Three Months Ended October 31,								Nine Months Ended October 31,
	2021				2020				2021				2020
	Amount		% Revenue		Amount		% Revenue		Amount		% Revenue		Amount		% Revenue


United States	$	276,698	73	%	$	167,741	72	%	$	741,168	73	%	$	438,955	72	%
Europe, Middle East, and Africa	50,721		13	%	33,192		14	%	138,920		14	%	86,785		14	%
Asia Pacific	37,265		10	%	20,551		9	%	99,263		9	%	53,186		9	%
Other	15,367		4	%	10,976		5	%	41,233		4	%	30,583		5	%
Total revenue	$	380,051	100	%	$	232,460	100	%	$	1,020,584	100	%	$	609,509	100	%

Summary of changes in deferred revenue

Changes in deferred revenue were as follows (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020

	Carrying Amount


Beginning Balance	$	1,164,357	$	689,840	$	911,895	$	571,168
Additions to deferred revenue	503,890		305,294		1,396,885		801,015
Recognition of deferred revenue	(380,051)		(232,460)		(1,020,584)		(609,509)
Ending Balance	$	1,288,196	$	762,674	$	1,288,196	$	762,674

Summary of the activity of deferred contract acquisition costs

The following table summarizes the activity of deferred contract acquisition costs (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020


Beginning balance	$	235,913	$	135,023	$	198,756	$	114,206

Capitalization of contract acquisition costs	64,325		35,753		151,901		84,741
Amortization of deferred contract acquisition costs	(29,293)		(16,769)		(79,712)		(44,940)
Ending balance	$	270,945	$	154,007	$	270,945	$	154,007

Deferred contract acquisition costs, current	$	108,636	$	62,422	$	108,636	$	62,422
Deferred contract acquisition costs, noncurrent	162,309		91,585		162,309		91,585
Total deferred contract acquisition costs	$	270,945	$	154,007	$	270,945	$	154,007

Leases (Tables)

9 Months Ended

Oct. 31, 2021

Leases [Abstract]

Schedule of component of lease costs

The component of lease costs was as follows (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020


Lease cost
Operating lease cost	$	2,782	$	2,677	$	8,393	$	7,631
Short-term lease cost	547		492		1,508		1,477
Variable lease cost	1,472		774		3,208		2,128
Total lease cost	$	4,801	$	3,943	$	13,109	$	11,236

Summary of future minimum payments under noncancelable operating leases

The maturities of the Company’s non-cancelable operating lease liabilities are as follows (in thousands):


	October 31, 2021


Fiscal 2022 (remaining three months)	$	1,489
Fiscal 2023	11,895
Fiscal 2024	11,861
Fiscal 2025	10,764
Fiscal 2026	4,811
Thereafter	608
Total operating lease payments	41,428
Less: imputed interest	(3,827)
Present value of operating lease liabilities	$	37,601

Cover - shares	9 Months Ended
Cover - shares	Oct. 31, 2021	Nov. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2021
Document Transition Report	false
Entity File Number	001-38933
Entity Registrant Name	CROWDSTRIKE HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3788918
Entity Address, Address Line One	150 Mathilda Place
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Sunnyvale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94086
City Area Code	888
Local Phone Number	512-8906
Title of 12(b) Security	Class A common stock, par value $0.0005 per share
Trading Symbol	CRWD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001535527
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		208,207,247
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		21,132,067

Balance Sheet Components

9 Months Ended

Oct. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Prepaid software licenses	$	21,262	$	20,596
Prepaid expenses	17,068		12,220
Prepaid marketing	9,889		10,852
Other current assets	7,975		4,566
Prepaid hosting services	4,476		5,383
Prepaid expenses and other current assets	$	60,670	$	53,617

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Data center and other computer equipment	$	187,777	$	146,220
Capitalized internal-use software and website development	60,053		44,358
Leasehold improvements	22,302		19,733
Purchased software	5,266		3,211
Furniture and equipment	7,050		6,498
Construction in process	86,832		35,528
	369,280		255,548
Less: Accumulated depreciation and amortization	(127,056)		(88,534)
Property and equipment, net	$	242,224	$	167,014

Construction in process primarily includes data center equipment purchased that has not yet been placed in service. As of October 31, 2021, $75.8 million of data center equipment was purchased but not yet been placed into service.

Depreciation and amortization expense of property and equipment was $14.5 million and $10.1 million during the three months ended October 31, 2021 and October 31, 2020, respectively, and $39.2 million and $27.7 million during the nine months ended October 31, 2021 and October 31, 2020, respectively.

There was no impairment of website and internal-use software during the three and nine months ended October 31, 2021 and October 31, 2020. The Company capitalized $9.0 million and $3.5 million in website and internal-use software during the three months ended October 31, 2021 and October 31, 2020, and $22.8 million and $8.2 million during the nine months ended October 31, 2021 and October 31, 2020, respectively. Amortization expense associated with website and internal-use software totaled $3.3 million and $1.9 million during the three months ended October 31, 2021 and October 31, 2020, respectively, and $8.6 million and $5.6 million during the nine months ended October 31, 2021 and October 31, 2020, respectively. The net book value of capitalized website and internal-use software was $34.5 million and $20.1 million as of October 31, 2021 and January 31, 2021, respectively.

Intangible Assets, Net

Total intangible assets, net consisted of the following (dollar in thousands):


	October 31, 2021						Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount
							(in months)
Developed technology	$	82,396	$	8,822	$	73,574	84
Customer relationships	9,068		1,556		7,512		74
Other acquired intangible assets	2,401		617		1,784		75
Total	$	93,865	$	10,995	$	82,870


	January 31, 2021						Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount

							(in months)
Developed technology	$	14,513	$	2,193	$	12,320	56
Customer relationships	3,769		649		3,120		54
Other acquired intangible assets	399		162		237		185
Total	$	18,681	$	3,004	$	15,677

Amortization of developed technology and customer relationships are recorded within cost of revenue and sales and marketing expense, respectively, in the condensed consolidated statements of operations. Other acquired intangibles are recorded within cost of revenue, research and development expense and general and administrative expense in the condensed consolidated statements of operations. Amortization expense of intangible assets was $3.4 million and $0.4 million during the three months ended October 31, 2021 and October 31, 2020, and $9.1 million and $0.6 million during the nine months ended October 31, 2021 and October 31, 2020, respectively.

The estimated aggregate future amortization expense of intangible assets as of October 31, 2021 is as follows (in thousands):


	Total

Fiscal 2022 (remaining three months)	$	3,323
Fiscal 2023	13,253
Fiscal 2024	12,558
Fiscal 2025	12,474
Fiscal 2026	11,387
Thereafter	29,875
Total amortization expense	$	82,870

The developed technology, customer relationships, and other acquired intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging from 2 to 20 years.

Goodwill

The changes in goodwill during the nine months ended October 31, 2021 consisted of the following (in thousands):


	Amounts


Goodwill as of January 31, 2021	$	83,566
Goodwill acquired(1)	291,273
Foreign currency translation	(950)
Goodwill as of October 31, 2021	$	373,889

__________________________________

(1)Goodwill acquired resulted from the acquisition of Humio. Refer to Note 12 for additional information.

Other Assets, Noncurrent

Other assets, noncurrent consisted of the following (in thousands):


	October 31, 2021		January 31, 2021

Other assets, noncurrent	$	11,441	$	8,627
Deferred finance cost, noncurrent	4,499		4,355
Deferred income tax asset, noncurrent	3,065		1,328
Deposits, noncurrent	2,676		2,802
Other assets, noncurrent	$	21,681	$	17,112

Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Web hosting services	$	29,881	$	14,187
Other accrued expenses	15,138		11,372
Accrued purchases of property and equipment	11,605		687
Accrued marketing	9,791		14,592
Accrued legal and accounting	5,593		4,570
Accrued interest expense	4,750		5,709
Accrued expenses	$	76,758	$	51,117

Accrued Payroll and Benefits

Accrued payroll and benefits consisted of the following (in thousands):


	October 31, 2021		January 31, 2021


Accrued commissions	$	36,439	$	32,300
Accrued payroll and related expenses	22,289		16,528
Employee Stock Purchase Plan	20,361		10,969
Accrued bonuses	15,649		12,110
Accrued payroll and benefits	$	94,738	$	71,907

In April 2020, the Company began deferring payment on its share of payroll taxes owed, as permitted by the CARES Act through December 31, 2020. As of October 31, 2021 and January 31, 2021, the Company had deferred $5.1 million of payroll taxes in other current liabilities and $5.1 million of payroll taxes in other liabilities, noncurrent on the condensed consolidated balance sheet.

Other Current Liabilities

Other current liabilities consisted of the following (in thousands):


	October 31, 2021		January 31, 2021

Income tax payable	$	62,678	$	2,639
Other current liabilities	12,850		9,652
Accrued taxes	1,632		2,837
Customer deposits	1,447		2,371
Other current liabilities	$	78,607	$	17,499

Net Loss Per Share Attributable to Common Stockholders

9 Months Ended

Oct. 31, 2021

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

. Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to CrowdStrike’s common stockholders is computed in conformity with the two-class method required for participating securities. Basic net loss per share attributable to CrowdStrike common stockholders is computed by dividing the net loss attributable to CrowdStrike by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were antidilutive given the Company’s net loss position in the periods presented.

The rights of the holders of Class A and Class B common stock are identical, except with the respect to voting and conversion rights. As such, the undistributed earnings are allocated equally to each share of common stock without class distinction and the resulting basic and diluted net loss per share attributable to CrowdStrike common stockholders are the same for shares of Class A and Class B common stock.

The following table sets forth the computation of basic and diluted net loss per share attributable to CrowdStrike common stockholders (in thousands, except per share data):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020

Numerator:
Net loss attributable to Class A and Class B CrowdStrike common stockholders	$	(50,455)	$	(24,531)	$	(192,822)	$	(73,627)

Denominator:
Weighted-average shares used in computing net loss per share attributable to Class A and Class B of CrowdStrike common stockholders, basic and diluted	228,293		219,401		226,292		216,432

Net loss per share attributable to Class A and Class B CrowdStrike common stockholders, basic and diluted	$	(0.22)	$	(0.11)	$	(0.85)	$	(0.34)


	October 31, 2021	October 31, 2020


Shares of common stock subject to repurchase from outstanding stock options	279	638
RSUs and PSUs subject to future vesting	8,472	8,747
Shares of common stock issuable from stock options	4,421	8,521
Share purchase rights under the employee stock purchase plan	558	1,131
Potential common shares excluded from diluted net loss per share	13,730	19,037

The above table excludes founder holdbacks related to business combinations. A variable number of shares will be issued upon vesting to settle a fixed monetary amount of $8.5 million, of which such shares are contingent upon continued employment with the Company for two years. The share price will be determined based on the Company’s average stock price 5 days prior to each vesting date. As of October 31, 2021, 11,313 shares were issued to settle founder holdbacks at a weighted average price of $253.42

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Operating activities
Net income (loss)	$ (190,639)	$ (73,627)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	39,247	27,728
Loss on disposal of property and equipment	259	0
Amortization of intangible assets	9,072	579
Amortization of deferred contract acquisition costs	79,712	44,940
Non-cash operating lease cost	6,727	7,666
Stock-based compensation expense	217,315	101,961
Gain on sale of debt securities, net	0	(1,347)
Amortization of marketable securities purchased at a premium	0	578
Non-cash interest expense	1,824	506
Change in fair value of strategic investments	(4,356)	0
Changes in operating assets and liabilities, net of impact of acquisitions
Accounts receivable, net	(40,644)	(6,603)
Deferred contract acquisition costs	(151,901)	(84,741)
Prepaid expenses and other assets	(9,788)	1,487
Accounts payable	(7,033)	6,556
Accrued expenses and other current liabilities	81,826	1,643
Accrued payroll and benefits	22,258	18,712
Operating lease liabilities	(7,394)	(1,434)
Deferred revenue	375,582	189,582
Other liabilities, noncurrent	(7,001)	7,917
Net cash provided by operating activities	415,066	242,103
Investing activities
Purchases of property and equipment	(85,420)	(40,245)
Capitalized internal-use software and website development	(15,201)	(6,345)
Purchase of strategic investments	(15,809)	(1,500)
Business acquisitions, net of cash acquired	(353,746)	(85,469)
Purchase of intangible assets	(680)	0
Purchases of marketable securities	0	(84,904)
Proceeds from sales of marketable securities	0	639,586
Maturities of marketable securities	0	91,605
Net cash (used in) provided by investing activities	(470,856)	512,728
Financing activities
Proceeds from issuance of common stock upon exercise of stock options	12,796	21,522
Proceeds from issuance of common stock under the employee stock purchase plan	27,452	17,284
Capital contributions from non-controlling interest holders	7,905	800
Net cash provided by financing activities	46,353	39,606
Effect of foreign exchange rates on cash and cash equivalents	(1,663)	691
Net (decrease) increase in cash and cash equivalents	(11,100)	795,128
Cash and cash equivalents, beginning of period	1,918,608	264,798
Cash and cash equivalents, end of period	1,907,508	1,059,926
Supplemental disclosure of cash flow information:
Interest paid	235	4
Income taxes paid, net of refunds received	3,854	1,536
Supplemental disclosure of non-cash investing and financing activities:
Net increase in property and equipment included in accounts payable and accrued expenses	7,066	4,755
Vesting of early exercised stock options	2,389	2,521
Equity consideration for acquisitions	4,011	3,842
Operating lease liabilities arising from obtaining operating right of-use assets	4,591	6,181
Line of Credit
Financing activities
Payment of debt issuance costs	(219)	0
Senior Notes
Financing activities
Payment of debt issuance costs	$ (1,581)	$ 0

Summary of Significant Accounting Policies

9 Months Ended

Oct. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such difference could be material to the Company’s condensed consolidated financial statements.

Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for credit losses, the useful lives of long-lived assets, the fair values of strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, stock-based compensation, the fair value of assets acquired and liabilities assumed for business combinations, and the fair value and effective interest rate for the Senior Notes.

Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require a material update to its estimates or judgments or an adjustment of the carrying value of its assets or liabilities as of October 31, 2021. While there was not a material impact to the Company’s condensed consolidated financial statements as of and for the three and nine months ended October 31, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other

factors related to COVID-19 that could result in material impacts to the Company’s condensed consolidated financial statements in future reporting periods.

Concentration of Credit Risk and Geographic Information

The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes.

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company has not experienced any credit loss relating to its cash equivalents and strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral.

Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows:


	October 31,		January 31,
	2021		2021
Channel partner A(1)	11	%	10	%
Channel partner B	10	%	5	%
Customer A(1)	—	%	17	%

_______________________________

(1)Channel Partner A and Customer A are controlled by the same company.

There were no direct customers or channel partners who represented 10% or more of the Company’s total revenue during the three and nine months ended October 31, 2021 and October 31, 2020.

Significant Accounting Policies

The Company’s significant accounting policies are described in the Company’s Annual Report on Form 10-K for the year ended January 31, 2021. There have been no significant changes to these policies that have had a material impact on the Company’s condensed consolidated financial statements and related notes for the three and nine months ended October 31, 2021.

Recently Adopted Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The Company adopted this guidance on February 1, 2021, which did not have a material effect on its condensed consolidated financial statements.

Recently Issued Accounting Pronouncements

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU on the Company’s consolidated financial statements.

Subsequent Events (Details) $ in Millions	Nov. 29, 2021 USD ($)
Subsequent Event \| Secure Circle
Subsequent Event [Line Items]
Payments to acquire businesses, gross	$ 60.8

Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Numerator:
Net loss attributable to Class A and Class B CrowdStrike common stockholders	$ (50,455)	$ (24,531)	$ (192,822)	$ (73,627)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Crowdstrike, basic (in shares)	228,293	219,401	226,292	216,432
Weighted-average shares used in computing net loss per share attributable to Crowdstrike, diluted (in shares)	228,293	219,401	226,292	216,432
Net loss per share attributable to Crowdstrike, basic (in dollars per share)	$ (0.22)	$ (0.11)	$ (0.85)	$ (0.34)
Net loss per share attributable to Crowdstrike, diluted (in dollars per share)	$ (0.22)	$ (0.11)	$ (0.85)	$ (0.34)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Oct. 31, 2021

Accounting Policies [Abstract]

Schedule of concentration of credit risk

Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows:


	October 31,		January 31,
	2021		2021
Channel partner A(1)	11	%	10	%
Channel partner B	10	%	5	%
Customer A(1)	—	%	17	%

_______________________________

(1)Channel Partner A and Customer A are controlled by the same company.

Commitments and Contingencies

9 Months Ended

Oct. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Purchase Obligations

The Company enters into long-term non-cancelable agreements with providers to purchase data center capacity, such as bandwidth and colocation space, for the Company’s cloud platform. As of October 31, 2021, the Company is committed to spend $52.4 million on such agreements through fiscal 2028. These obligations are included in purchase obligations below.

In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties to purchase products and services such as technology, equipment, office renovations, corporate events, and consulting services. A summary of noncancellable purchase obligations in excess of one year as of October 31, 2021 with expected date of payment is as follows (in thousands):


	Total Commitments


Fiscal 2022 (remaining three months)	$	23,806
Fiscal 2023	57,566
Fiscal 2024	54,492
Fiscal 2025	10,047
Fiscal 2026	7,299
Thereafter	2,546
Total purchase commitments	$	155,756

In October 2021, the Company entered into a new private pricing addendum with Amazon Web Services (“AWS”), which provides the Company with cloud computing infrastructure. Under the new pricing addendum, the minimum commitment is $600.0 million of cloud services from AWS through September 2026. As of October 31, 2021, the Company’s remaining contractual commitment is $587.7 million, which is excluded from the table above. The Company expects to meet its remaining commitment with AWS.

Letters of Credit

As of October 31, 2021 and January 31, 2021, the Company had an unused standby letter of credit for $0.4 million securing its headquarters facility in Sunnyvale, California, as well as an unused standby letter of credit for $1.0 million securing its facility in Austin, Texas.

Litigation

In November 2016, Fair Isaac Corporation (“FICO”) filed a petition before the Trademark Trial and Appellate Board (“TTAB”) at the U.S. Patent and Trademark Office, seeking cancellation of the Company’s registration of its “CrowdStrike Falcon” trademark, and a notice of opposition of the Company’s trademark application for “Falcon OverWatch.” The Company denies that any of the relief FICO seeks is appropriate, and has itself moved to cancel, or in the alternative amend, FICO’s “Falcon” trademark registrations before the TTAB. The proceedings have been consolidated and are in the discovery phase with trial periods scheduled to begin in December 2021. The Company is vigorously defending the case, but given the early stage, although a loss may reasonably be possible, the Company is unable to predict the likelihood of success of FICO’s claims or estimate a loss or range of loss. As a result, no liability has been recorded as of October 31, 2021 or January 31, 2021.

In addition, the Company is involved in various other legal proceedings and subject to claims that arise in the ordinary course of business. For any claims for which the Company believes a liability is both probable and reasonably estimable, the Company records a liability in the period for which it makes this determination. There is no pending or threatened legal proceeding to which the Company is a party that, in the Company’s opinion, is likely to have a material adverse effect on its condensed consolidated financial statements; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on the Company’s business because of defense and settlement costs, diversion of management resources, and other factors. In addition, the expense of litigation and the timing of this expense from period to period are difficult to estimate, subject to change and could adversely affect the Company’s condensed consolidated financial statements.

Warranties and Indemnification

The Company’s cloud computing services are typically warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company’s online help documentation under normal use and circumstances.

The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. In addition, for its Falcon Complete customers, the Company offers a limited warranty, subject to certain conditions, to cover certain costs incurred by the customer in case of a cybersecurity breach. The Company has entered into an insurance policy to reduce its potential liability arising from this limited warranty arrangement. To date, the Company has not incurred any material costs because of such obligations and has not accrued any liabilities related to such obligations in the condensed consolidated financial statements.

The Company has also agreed to indemnify its directors and certain executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that would generally enable the Company to recover a portion of any future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions. No liabilities have been accrued associated with this indemnification provision as of October 31, 2021 or January 31, 2021.

Revenue, Deferred Revenue and Remaining Performance Obligations

9 Months Ended

Oct. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue, Deferred Revenue and Remaining Performance Obligations

Revenue, Deferred Revenue and Remaining Performance ObligationsThe following table summarizes the revenue from contracts by type of customer (in thousands, except percentages):


	Three Months Ended October 31,								Nine Months Ended October 31,
	2021				2020				2021				2020
	Amount		% Revenue		Amount		% Revenue		Amount		% Revenue		Amount		% Revenue


Channel Partners	$	282,774	74	%	$	175,837	76	%	$	761,597	75	%	$	459,529	75	%
Direct Customers	97,277		26	%	56,623		24	%	258,987		25	%	149,980		25	%
Total revenue	$	380,051	100	%	$	232,460	100	%	$	1,020,584	100	%	$	609,509	100	%

The Company uses channel partners to complement direct sales and marketing efforts. The partners place an order with the Company after negotiating the order directly with an end customer. The partners negotiate pricing with the end customer and in some rare instances are responsible for certain support levels directly with the end customer. The Company’s contract is with the partner and payment to the Company is not contingent on the receipt of payment from the end customer. The Company recognizes the contractual amount charged to the partners as revenue ratably over the term of the arrangement once access to the Company’s solution has been provided to the end customer.

The Company also uses referral partners who refer customers in exchange for a referral fee. The Company negotiates pricing and contracts directly with the end customer. The Company recognizes revenue from the sales to the end customers ratably over the term of the contract once access to the Company’s solution has been provided to the end customer.

The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service (in thousands, except percentages):


	Three Months Ended October 31,								Nine Months Ended October 31,
	2021				2020				2021				2020
	Amount		% Revenue		Amount		% Revenue		Amount		% Revenue		Amount		% Revenue


United States	$	276,698	73	%	$	167,741	72	%	$	741,168	73	%	$	438,955	72	%
Europe, Middle East, and Africa	50,721		13	%	33,192		14	%	138,920		14	%	86,785		14	%
Asia Pacific	37,265		10	%	20,551		9	%	99,263		9	%	53,186		9	%
Other	15,367		4	%	10,976		5	%	41,233		4	%	30,583		5	%
Total revenue	$	380,051	100	%	$	232,460	100	%	$	1,020,584	100	%	$	609,509	100	%

No single country other than the United States represented 10% or more of the Company’s total revenue during the three and nine months ended October 31, 2021 and October 31, 2020.

Contract Balances

Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. The Company recognized revenue of $316.2 million and $185.7 million for the three months ended October 31, 2021 and October 31, 2020, respectively, and $598.8 million and $354.5 million for the nine months ended October 31, 2021 and October 31, 2020, respectively, that were included in the corresponding contract liability balance at the beginning of the period.

The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 - 60 days. Contract assets include amounts related to the contractual right to consideration for both completed and partially completed performance obligations that may not have been invoiced.

Changes in deferred revenue were as follows (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020

	Carrying Amount


Beginning Balance	$	1,164,357	$	689,840	$	911,895	$	571,168
Additions to deferred revenue	503,890		305,294		1,396,885		801,015
Recognition of deferred revenue	(380,051)		(232,460)		(1,020,584)		(609,509)
Ending Balance	$	1,288,196	$	762,674	$	1,288,196	$	762,674

Remaining Performance Obligations

The Company’s subscription contracts with its customers have a typical term of one to three years and most subscription contracts are non-cancelable. Customers typically have the right to terminate their contracts for cause as a result of the Company’s failure to perform. As of October 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.9 billion. The Company expects to recognize 71% of the remaining performance obligations in the next 12 months and 28% between 13 to 36 months, with the remainder to be recognized thereafter.

Costs to Obtain a Contract

The Company capitalizes referral fees paid to partners and sales commission and associated payroll taxes paid to internal sales personnel, contractors or sales agents that are incremental to the acquisition of channel partner and direct customer contracts and would not have occurred absent the customer contract. These costs are recorded as deferred contract acquisition costs, current and deferred contract acquisition costs, noncurrent on the condensed consolidated balance sheets.

Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to channel partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of 4 years while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contracts are amortized ratably over an estimated period of benefit of six months and included in sales and marketing expense in the condensed consolidated statements of operations. In determining the period of benefit for commissions paid for the acquisition of the initial contract, the Company took into consideration the expected subscription term and expected renewals of customer contracts, the historical duration of relationships with customers, customer retention data, and the life of the developed technology. The Company periodically reviews the carrying amount of deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred costs. The Company did not recognize any material impairment losses of deferred contract acquisition costs during the three and nine months ended October 31, 2021 and October 31, 2020.

The following table summarizes the activity of deferred contract acquisition costs (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020


Beginning balance	$	235,913	$	135,023	$	198,756	$	114,206

Capitalization of contract acquisition costs	64,325		35,753		151,901		84,741
Amortization of deferred contract acquisition costs	(29,293)		(16,769)		(79,712)		(44,940)
Ending balance	$	270,945	$	154,007	$	270,945	$	154,007

Deferred contract acquisition costs, current	$	108,636	$	62,422	$	108,636	$	62,422
Deferred contract acquisition costs, noncurrent	162,309		91,585		162,309		91,585
Total deferred contract acquisition costs	$	270,945	$	154,007	$	270,945	$	154,007

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Commitments and Contingencies (Tables)

9 Months Ended

Oct. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Summary of noncancelable purchase obligations

A summary of noncancellable purchase obligations in excess of one year as of October 31, 2021 with expected date of payment is as follows (in thousands):


	Total Commitments


Fiscal 2022 (remaining three months)	$	23,806
Fiscal 2023	57,566
Fiscal 2024	54,492
Fiscal 2025	10,047
Fiscal 2026	7,299
Thereafter	2,546
Total purchase commitments	$	155,756

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Related Party Transactions [Abstract]
Revenue from subscriptions and professional services from related parties	$ 1.8	$ 1.1	$ 5.4	$ 3.0
Accounts receivable associated with related parties	0.7		0.7		$ 1.3
Related party purchases	$ 5.0	$ 6.0	$ 18.5	$ 6.2

Leases - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
Leases - Additional Information (Details) - USD ($)	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Cash payments	$ 2,900,000	$ 2,700,000	$ 8,800,000	$ 8,100,000
Operating lease liabilities arising from obtaining operating right of-use assets	$ 1,500,000	0	$ 4,600,000	6,200,000
Weighted average remaining lease term	3 years 4 months 24 days		3 years 4 months 24 days
Weighted average discount rate	5.40%		5.40%
Sublease income	$ 0	$ 0	$ 0	$ 0

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Oct. 31, 2021	Jan. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 93,865	$ 18,681
Accumulated Amortization	10,995	3,004
Net Amount	82,870	15,677
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	82,396	14,513
Accumulated Amortization	8,822	2,193
Net Amount	$ 73,574	$ 12,320
Weighted-Average Remaining Useful Life	84 months	56 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,068	$ 3,769
Accumulated Amortization	1,556	649
Net Amount	$ 7,512	$ 3,120
Weighted-Average Remaining Useful Life	74 months	54 months
Other acquired intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,401	$ 399
Accumulated Amortization	617	162
Net Amount	$ 1,784	$ 237
Weighted-Average Remaining Useful Life	75 months	185 months

Acquisitions- Additional Information (Details)			3 Months Ended	9 Months Ended
Acquisitions- Additional Information (Details)	Mar. 05, 2021 USD ($)	Sep. 30, 2020 USD ($) segment	Oct. 31, 2021 USD ($)	Oct. 31, 2021 USD ($) segment	Jan. 31, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 373,889,000	$ 373,889,000	$ 83,566,000
Number of reportable segments \| segment				1
Humio Limited
Business Acquisition [Line Items]
Voting equity interest acquired	100.00%
Total consideration transferred	$ 370,300,000
Payments to acquire businesses, gross	353,800,000
Cash acquired from acquisition	12,500,000
Fair value of replacement equity awards	4,000,000
Identified intangible assets	75,600,000
Net tangible assets acquired	3,400,000
Goodwill	$ 291,300,000
Acquisition related costs			300,000	$ 5,000,000
Preempt
Business Acquisition [Line Items]
Voting equity interest acquired		100.00%
Total consideration transferred		$ 91,200,000
Payments to acquire businesses, gross		87,400,000
Fair value of replacement equity awards		3,800,000
Identified intangible assets		16,385,000
Goodwill		$ 75,300,000
Number of reportable segments \| segment		1
Acquisition related costs			$ 0	$ 300,000
Net tangible assets acquired		$ (500,000)

Revenue, Deferred Revenue and Remaining Performance Obligations - Performance Obligations (Details) $ in Billions	Oct. 31, 2021 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligations	$ 1.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	71.00%
Remaining performance obligation, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	28.00%
Remaining performance obligation, period	13 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	36 months

Investments and Fair Value Measurements

9 Months Ended

Oct. 31, 2021

Fair Value Disclosures [Abstract]

Investments and Fair Value Measurements

The Company follows ASC 820, Fair Value Measurements, with respect to marketable securities that are measured at fair value on a recurring basis. Under the standard, fair value is defined as the exit price, or the amount that would be received to sell an asset or a liability in an orderly transaction between market participants as of the measurement date. The standard also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances.

The hierarchy is broken down into three levels as follows:

Level 1 Assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in active markets

Level 2 Assets and liabilities whose values are based on quoted prices in markets that are not active or inputs that are observable for substantially the full term of the asset or liability

Level 3 Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement

Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands):


	October 31, 2021								January 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total


Assets
Cash equivalents (1)
Money market funds	$	300,020	$	—	$	—	$	300,020	$	—	$	—	$	—	$	—
Total assets	$	300,020	$	—	$	—	$	300,020	$	—	$	—	$	—	$	—

__________________________________

(1)Included in “Cash and cash equivalents” on the condensed consolidated balance sheets.

There were no transfers between the levels of the fair value hierarchy during the periods presented.

The following summarizes the changes in strategic investments (in thousands):


	October 31,		January 31,
	2021		2021


Total initial cost	$	18,309	$	2,500
Unrealized gains due to changes in fair value	4,356		—
Carrying value	$	22,665	$	2,500

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 31, 2021	Jan. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 1.3	$ 1.2
Preferred stock, par value (in usd per share)	$ 0.0005	$ 0.0005
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A common stock
Common stock, par value (in usd per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	208,121,000	195,039,000
Common stock, shares outstanding (in shares)	208,121,000	195,039,000
Class B common stock
Common stock, par value (in usd per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	21,176,000	28,685,000
Common stock, shares outstanding (in shares)	21,176,000	28,685,000

Investments and Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of company's fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands):


	October 31, 2021								January 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total


Assets
Cash equivalents (1)
Money market funds	$	300,020	$	—	$	—	$	300,020	$	—	$	—	$	—	$	—
Total assets	$	300,020	$	—	$	—	$	300,020	$	—	$	—	$	—	$	—

__________________________________

(1)Included in “Cash and cash equivalents” on the condensed consolidated balance sheets.

Summary of changes in strategic investments

The following summarizes the changes in strategic investments (in thousands):


	October 31,		January 31,
	2021		2021


Total initial cost	$	18,309	$	2,500
Unrealized gains due to changes in fair value	4,356		—
Carrying value	$	22,665	$	2,500

Investments and Fair Value Measurements - Financial Assets and Liabilities (Details) - Recurring - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Assets
Total assets	$ 300,020	$ 0
Level 1
Assets
Total assets	300,020	0
Level 2
Assets
Total assets	0	0
Level 3
Assets
Total assets	0	0
Money market funds
Assets
Cash equivalents	300,020	0
Money market funds \| Level 1
Assets
Cash equivalents	300,020	0
Money market funds \| Level 2
Assets
Cash equivalents	0	0
Money market funds \| Level 3
Assets
Cash equivalents	$ 0	$ 0

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Oct. 31, 2021 USD ($)
Leases [Abstract]
Fiscal 2022 (remaining three months)	$ 1,489
2023	11,895
2024	11,861
2025	10,764
2026	4,811
Thereafter	608
Total operating lease payments	41,428
Less: imputed interest	(3,827)
Present value of operating lease liabilities	$ 37,601

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Income Tax Examination [Line Items]
Provision for income taxes	$ 4,473	$ 451	$ 58,773	$ 1,928
Effective tax rate	(9.70%)	(1.90%)	(43.80%)	(2.70%)
Gross unrecognized tax benefits	$ 39,500		$ 39,500		$ 24,400
Unrecognized tax benefits including interest and penalties	1,300		1,300		$ 600
Tax reclassifications	$ 21,600
Foreign Tax Authority
Income Tax Examination [Line Items]
Provision for income taxes			$ 48,800

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Operating lease cost	$ 2,782	$ 2,677	$ 8,393	$ 7,631
Short-term lease cost	547	492	1,508	1,477
Variable lease cost	1,472	774	3,208	2,128
Total lease cost	$ 4,801	$ 3,943	$ 13,109	$ 11,236

Leases

9 Months Ended

Oct. 31, 2021

Leases [Abstract]

Leases

Operating Leases

The Company has entered into non-cancelable operating lease agreements with various expiration dates through fiscal 2027. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

Cash paid for amounts included in the measurement of operating lease liabilities was $2.9 million and $2.7 million for the three months ended October 31, 2021 and October 31, 2020 and $8.8 million and $8.1 million for the nine months ended October 31, 2021 and October 31, 2020, respectively. Operating lease liabilities arising from obtaining operating right-of-use assets were $1.5 million and none for the three months ended October 31, 2021 and October 31, 2020, respectively. Operating lease liabilities arising from obtaining operating right-of-use assets were $4.6 million and $6.2 million for the nine months ended October 31, 2021 and October 31, 2020, respectively.

As of October 31, 2021, the weighted-average remaining lease term is 3.4 years, and the weighted-average discount rate is 5.4%.

The component of lease costs was as follows (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020


Lease cost
Operating lease cost	$	2,782	$	2,677	$	8,393	$	7,631
Short-term lease cost	547		492		1,508		1,477
Variable lease cost	1,472		774		3,208		2,128
Total lease cost	$	4,801	$	3,943	$	13,109	$	11,236

There was no sublease income for the three and nine months ended October 31, 2021 or October 31, 2020. As of October 31, 2021, the Company has not entered into any non-cancelable operating leases with a term greater than 12 months that have not yet commenced.

The maturities of the Company’s non-cancelable operating lease liabilities are as follows (in thousands):


	October 31, 2021


Fiscal 2022 (remaining three months)	$	1,489
Fiscal 2023	11,895
Fiscal 2024	11,861
Fiscal 2025	10,764
Fiscal 2026	4,811
Thereafter	608
Total operating lease payments	41,428
Less: imputed interest	(3,827)
Present value of operating lease liabilities	$	37,601

Stock-Based Compensation - Stock options - Summary (Details)	3 Months Ended	9 Months Ended
	Oct. 31, 2021 $ / shares shares	Oct. 31, 2021 $ / shares shares
Number of Shares
Options outstanding at beginning of period (in shares) \| shares		6,646,000
Options granted (in shares) \| shares	0	93,000
Exercised (in shares) \| shares		(2,136,000)
Canceled (in shares) \| shares		(182,000)
Options outstanding at end of period (in shares) \| shares	4,421,000	4,421,000
Options vested and expected to vest at end of period (in shares) \| shares	4,421,000	4,421,000
Options exercisable at end of period (in shares) \| shares	2,871,000	2,871,000
Weighted-Average Exercise Price Per Share
Options outstanding at beginning of period (in usd per share) \| $ / shares		$ 8.24
Granted (in usd per share) \| $ / shares		3.19
Exercised (in usd per share) \| $ / shares		5.99
Canceled (in usd per share) \| $ / shares		30.31
Options outstanding at end of period (in usd per share) \| $ / shares	$ 8.32	8.32
Options vested and expected to vest at end of period (in usd per share) \| $ / shares	8.32	8.32
Options exercisable at end of period (in usd per share) \| $ / shares	$ 6.56	$ 6.56

Summary of Significant Accounting Policies - Narrative (Details)	1 Months Ended	9 Months Ended
	Sep. 30, 2018	Oct. 31, 2021
Service-based vesting \| Vesting one
Concentration Risk [Line Items]
Vesting percentage	10.00%	25.00%

Debt	9 Months Ended
Debt	Oct. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Secured Revolving Credit Facility In April 2019, the Company entered into a Credit Agreement with Silicon Valley Bank and other lenders, to provide a revolving line of credit of up to $150.0 million, including a letter of credit sub-facility in the aggregate amount of $10.0 million, and a swingline sub-facility in the aggregate amount of $10.0 million. On January 4, 2021, the Company amended and restated its existing credit agreement (the “A&R Credit Agreement” and the facility thereunder the “Revolving Facility”) among CrowdStrike, Inc., as borrower, CrowdStrike Holdings, Inc., as guarantor, and Silicon Valley Bank and the other lenders party thereto, providing the Company with a revolving line of credit of up to $750.0 million, including a letter of credit sub-facility in the aggregate amount of $100.0 million, and a swingline sub-facility in the aggregate amount of $50.0 million. The Company also has the option to request an incremental facility of up to an additional $250.0 million from one or more of the lenders under the A&R Credit Agreement. The A&R Credit Agreement is guaranteed by all of the Company’s material domestic subsidiaries. The A&R Credit Agreement extended the maturity date of April 19, 2022 to January 2, 2026. Under the A&R Credit Agreement, revolving loans may be either Eurodollar Loans or Alternate Base Rate (“ABR”) Loans. Outstanding Eurodollar Loans incur interest at the Eurodollar Rate, which is defined as LIBOR (or any successor thereto), subject to a 0.00% LIBOR floor, plus a margin between 1.50% and 2.00%, depending on the Company’s senior secured leverage ratio. Outstanding ABR Loans incur interest at the highest of (a) the Prime Rate, as published by the Wall Street Journal, (b) the federal funds rate in effect for such day plus 0.50%, and (c) the Eurodollar Rate plus 1.00%, in each case plus a margin between (0.25)% and 0.25%, depending on the senior secured leverage ratio. The Company will be charged a commitment fee of 0.15% to 0.25% per year for committed but unused amounts, depending on the senior secured leverage ratio. The financial covenants require the Company to maintain a minimum consolidated interest coverage ratio of 3.00:1.00, a maximum senior secured leverage ratio of 3.00:1.00 (through January 31, 2023), and a maximum total leverage ratio of 5.50:1.00 stepping down to 3.50:1.00 over time. The Company was in compliance with the financial covenants as of October 31, 2021. The A&R Credit Agreement is secured by substantially all of the Company’s current and future consolidated assets, property and rights, including, but not limited to, intellectual property, cash, goods, equipment, contractual rights, financial assets, and intangible assets of the Company and certain of its subsidiaries. The A&R Credit Agreement contains customary covenants limiting the Company’s ability and the ability of its subsidiaries to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock, and make investments, in each case subject to certain exceptions. No amounts were outstanding under the A&R Credit Agreement as of October 31, 2021 and January 31, 2021. Senior Notes On January 20, 2021, the Company issued $750.0 million in aggregate principal amount of 3.00% Senior Notes maturing in February 2029. The Senior Notes are guaranteed by the Company’s subsidiary, CrowdStrike, Inc. and will be guaranteed by each of the Company’s existing and future domestic subsidiaries that becomes a borrower or guarantor under the A&R Credit Agreement. The Senior Notes were issued at par and bear interest at a rate of 3.00% per annum. Interest payments are payable semiannually on February 15 and August 15 of each year, commencing on August 15, 2021. The Company may voluntarily redeem the Senior Notes, in whole or in part, 1) at any time prior to February 15, 2024 at (a) 100.00% of their principal amount, plus a “make whole” premium or (b) with the net cash proceeds received from an equity offering at a redemption price equal to 103.00% of the principal amount, provided the aggregate principal amount of all such redemptions does not exceed 40% of the original aggregate principal amount of the Senior Notes; 2) at any time on or after February 15, 2024 at a prepayment price equal to 101.50% of the principal amount; 3) at any time on or after February 15, 2025 at a prepayment price equal to 100.75% of the principal amount; and 4) at any time on or after February 15, 2026 at a prepayment price equal to 100.00% of the principal amount; in each case, plus accrued and unpaid interest, if any, to but excluding, the date of redemption. The net proceeds from the debt offering were $738.0 million after deducting underwriting commissions of $9.4 million and $2.6 million of issuance costs. The debt issuance costs are being amortized to interest expense using the effective interest method over the term of the Senior Notes. Interest expense related to contractual interest expense, amortization of debt issuance costs and accretion of debt discount was $6.0 million and $18.0 million during the three and nine months ended October 31, 2021, respectively. In certain circumstances involving a change of control event, the Company will be required to make an offer to repurchase all or, at the holder’s option, any part, of each holder’s notes of that series at 101% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The indenture governing the Senior Notes (the “Indenture”) contain covenants limiting the Company’s ability and the ability of its subsidiaries to create liens on certain assets to secure debt; grant a subsidiary guarantee of certain debt without also providing a guarantee of the Senior Notes; declare dividends; and consolidate or merge with or into, or sell or otherwise dispose of all or substantially all of its assets to, another person. These covenants are subject to a number of limitations and exceptions. Certain of these covenants will not apply during any period in which the notes are rated investment grade by Fitch Ratings, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Ratings Services (“S&P”). As of October 31, 2021, the Company was in compliance with all of its financial covenants under the Indenture associated with the Senior Notes. Based on the trading prices of the Senior Notes, the fair value of the Senior Notes as of October 31, 2021 was approximately $742.8 million. While the Senior Notes are recorded at cost, the fair value of the Senior Notes was determined based on quoted prices in markets that are not active; accordingly, the Senior Notes is categorized as Level 2 for purposes of the fair value measurement hierarchy.

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid software licenses	$ 21,262	$ 20,596
Prepaid expenses	17,068	12,220
Prepaid marketing	9,889	10,852
Other current assets	7,975	4,566
Prepaid hosting services	4,476	5,383
Prepaid expenses and other current assets	$ 60,670	$ 53,617

Balance Sheet Components - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Depreciation and amortization	$ 14,500,000	$ 10,100,000	$ 39,247,000	$ 27,728,000
Impairments of internal use software	0	0	0	0
Capitalized amount of internal use software	9,000,000	3,500,000	22,800,000	8,200,000
Amortization expense associated with internal use software	3,300,000	1,900,000	8,600,000	5,600,000
Net book value of capitalized internal use software	34,500,000		34,500,000		$ 20,100,000
Amortization of intangible assets	3,400,000	$ 400,000	$ 9,072,000	$ 579,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives			2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives			20 years
Other Current Liabilities
Finite-Lived Intangible Assets [Line Items]
Deferred payroll taxes	5,100,000		$ 5,100,000		5,100,000
Other Noncurrent Liabilities
Finite-Lived Intangible Assets [Line Items]
Deferred payroll taxes	$ 5,100,000		5,100,000		$ 5,100,000
Data center and other computer equipment
Finite-Lived Intangible Assets [Line Items]
Equipment purchased but not yet placed into service			$ 75,800,000

Acquisitions (Tables)

9 Months Ended

Oct. 31, 2021

Business Combination And Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table sets forth the preliminary fair value of the identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollar in thousands):


	Fair Value		Useful Life
			(in months)
Developed technology	$	68,800	96
Customer relationships	5,400		96
Trade names	1,400		24
Total intangible assets acquired	$	75,600

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollar in thousands):


	Fair Value		Useful Life
			(in months)
Developed technology	$	13,200	60
Customer relationships	3,100		60
Trade names	85		12
Total intangible assets acquired	$	16,385

Stock-Based Compensation - RSU, PSU and Special PSU activity (Details) - RSU, PSU and Special PSU shares in Thousands	9 Months Ended
	Oct. 31, 2021 $ / shares shares
Number of Shares
RSUs and PSUs outstanding at beginning of period (in shares) \| shares	8,449
Granted (in shares) \| shares	2,964
Vested (in shares) \| shares	(2,680)
Performance adjustment (in shares) \| shares	153
Forfeited (in shares) \| shares	(414)
RSUs and PSUs outstanding at end of period (in shares) \| shares	8,472
RSUs and PSUs expected to vest at end of period (in shares) \| shares	8,472
Weighted- Average Grant Date Fair Value Per Share
RSUs and PSUs outstanding at beginning of period (in usd per share) \| $ / shares	$ 59.27
Granted (in usd per share) \| $ / shares	229.47
Vested (in usd per share) \| $ / shares	58.59
Performance Adjustment (in usd per share) \| $ / shares	58.15
Forfeited (in usd per share) \| $ / shares	99.42
RSUs and PSUs outstanding at end of period (in usd per share) \| $ / shares	117.05
RSUs and PSUs expected to vest at end of period (in usd per share) \| $ / shares	$ 117.05

Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended
	Oct. 31, 2021	Jan. 31, 2021
Line of Credit Facility [Line Items]
Commitment to spend	$ 52,400,000
Liability recorded	0	$ 0
Liabilities accrued	0	0
Amazon Web Services
Line of Credit Facility [Line Items]
Minimum commitment	600,000,000
Remaining contractual commitment	587,700,000
Sunnyvale, California
Line of Credit Facility [Line Items]
Unused standby letter of credit	400,000	400,000
Austin, Texas
Line of Credit Facility [Line Items]
Unused standby letter of credit	$ 1,000,000	$ 1,000,000

Subsequent Events	9 Months Ended
Subsequent Events	Oct. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 29, 2021, the Company entered into an agreement to acquire all of the ownership interests in Secure Circle LLC (“Secure Circle”), a SaaS-based cybersecurity service that extends Zero Trust security to data on the endpoint. The acquisition of Secure Circle closed on November 29, 2021 and the Company paid approximately $60.8 million in cash subject to customary net working capital and purchase price adjustments. Due to the proximity of the closing date and the issuance of these condensed consolidated financial statements, the initial accounting for the acquisition of Secure Circle is incomplete, and therefore the Company is unable to disclose certain information required by ASC 805, including any provisional amounts recognized as of the acquisition date for each major class of assets acquired, liabilities assumed, and goodwill.

Revenue, Deferred Revenue and Remaining Performance Obligations - Deferred Contract Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Movement in Deferred Contract Acquisition Costs [Roll Forward]
Beginning balance	$ 235,913	$ 135,023	$ 198,756	$ 114,206
Capitalization of contract acquisition costs	64,325	35,753	151,901	84,741
Amortization of deferred contract acquisition costs	(29,293)	(16,769)	(79,712)	(44,940)
Ending balance	270,945	154,007	270,945	154,007
Deferred contract acquisition costs, current	108,636	62,422	108,636	62,422	$ 80,850
Deferred contract acquisition costs, noncurrent	162,309	91,585	162,309	91,585	117,906
Total deferred contract acquisition costs	$ 270,945	$ 154,007	$ 270,945	$ 154,007	$ 198,756

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,907,508	$ 1,918,608
Accounts receivable, net of allowance for credit losses of $1.3 million and $1.2 million as of October 31, 2021 and January 31, 2021, respectively	283,272	239,199
Deferred contract acquisition costs, current	108,636	80,850
Prepaid expenses and other current assets	60,670	53,617
Total current assets	2,360,086	2,292,274
Strategic investments	22,665	2,500
Property and equipment, net	242,224	167,014
Operating lease right-of-use assets	33,893	36,484
Deferred contract acquisition costs, noncurrent	162,309	117,906
Goodwill	373,889	83,566
Intangible assets, net	82,870	15,677
Other long-term assets	21,681	17,112
Total assets	3,299,617	2,732,533
Current liabilities:
Accounts payable	7,167	12,065
Accrued expenses	76,758	51,117
Accrued payroll and benefits	94,738	71,907
Operating lease liabilities, current	9,706	8,977
Deferred revenue	974,571	701,988
Other current liabilities	78,607	17,499
Total current liabilities	1,241,547	863,553
Long-term debt	739,145	738,029
Deferred revenue, noncurrent	313,625	209,907
Operating lease liabilities, noncurrent	27,895	31,986
Other liabilities, noncurrent	17,835	17,184
Total liabilities	2,340,047	1,860,659
Commitments and contingencies (Note 10)
Stockholders’ Equity
Preferred stock, $0.0005 par value; 100,000 shares authorized as of October 31, 2021 and January 31, 2021; no shares issued and outstanding as of October 31, 2021 and January 31, 2021	0	0
Class A common stock, $0.0005 par value; 2,000,000 shares authorized as of October 31, 2021 and January 31, 2021; 208,121 shares and 195,039 shares issued and outstanding as of October 31, 2021 and January 31, 2021, respectively; Class B common stock, $0.0005 par value; 300,000 shares authorized as of October 31, 2021 and January 31, 2021; 21,176 shares and 28,685 shares issued and outstanding as of October 31, 2021 and January 31, 2021, respectively.	115	112
Additional paid-in capital	1,870,120	1,598,259
Accumulated deficit	(922,938)	(730,116)
Accumulated other comprehensive income	885	2,319
Total CrowdStrike Holdings, Inc. stockholders’ equity	948,182	870,574
Non-controlling interest	11,388	1,300
Total stockholders’ equity	959,570	871,874
Total liabilities and stockholders’ equity	$ 3,299,617	$ 2,732,533

Revenue, Deferred Revenue and Remaining Performance Obligations - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Contract with Customer, Liability [Line Items]
Revenue included in the contract liability balance	$ 316,200,000	$ 185,700,000	$ 598,800,000	$ 354,500,000
Commission amortization period			4 years
Professional services contract amortization			6 months
Impairment loss	$ 0	$ 0	$ 0	$ 0
Minimum
Contract with Customer, Liability [Line Items]
Payment terms			30 days
Subscription term			1 year
Maximum
Contract with Customer, Liability [Line Items]
Payment terms			60 days
Subscription term			3 years

Stock-Based Compensation (Tables)

9 Months Ended

Oct. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of assumptions used to estimate fair value on date of grant

The fair value of each option was estimated on the date of grant using the following assumptions during the period:


	Nine Months Ended October 31,

	2021		2020
Expected term (in years)	3.8 - 5.6		3.2 - 6.1
Risk-free interest rate	0.6% - 1.0%		0.2% - 0.4%
Expected stock price volatility	36.1% - 37.1%		35.8% - 37.3%
Dividend yield	—	%	—	%


	Nine Months Ended October 31,
	2021		2020
Expected term (in years)	0.5 - 2.0		0.5 - 2.0
Risk-free interest rate	0.0% - 1.9%		0.2% - 2.0%
Expected stock price volatility	33.0% - 55.9%		30.1% - 54.3%
Dividend yield	—	%	—	%

Schedule of stock option activity

The following table is a summary of stock option activity for the nine months ended October 31, 2021:


	Number of Shares	Weighted-Average Exercise Price Per Share
	(in thousands)
Options outstanding at January 31, 2021	6,646	$	8.24
Granted	93	$	3.19
Exercised	(2,136)	$	5.99
Canceled	(182)	$	30.31
Options outstanding at October 31, 2021	4,421	$	8.32
Options vested and expected to vest at October 31, 2021	4,421	$	8.32
Options exercisable at October 31, 2021	2,871	$	6.56

Share-based payment arrangement, restricted stock unit, performance stock unit, and special performance stock unit award, activity

The following table is a summary of RSUs, PSUs and the Special PSU Award activities for the nine months ended October 31, 2021:


	Number of Shares	Weighted- Average Grant Date Fair Value Per Share
	(in thousands)
RSUs, PSUs and the Special PSU Award outstanding at January 31, 2021	8,449	$	59.27
Granted	2,964	$	229.47
Vested	(2,680)	$	58.59
Performance adjustment (1)	153	$	58.15
Forfeited	(414)	$	99.42
RSUs, PSUs and the Special PSU Award outstanding at October 31, 2021	8,472	$	117.05
RSUs, PSUs, and the Special PSU Award expected to vest at October 31, 2021	8,472	$	117.05

__________________________________

Schedule of stock-based compensation expense

Stock-based compensation expense included in the condensed consolidated statements of operations is as follows (in thousands):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020


Subscription cost of revenue	$	5,969	$	3,226	$	15,548	$	7,856
Professional services cost of revenue	2,546		1,551		6,963		3,947
Sales and marketing	25,499		12,811		68,178		35,101
Research and development	27,333		11,771		70,942		25,700
General and administrative	25,319		11,251		55,684		29,357
Total stock-based compensation expense	$	86,666	$	40,610	$	217,315	$	101,961

Description of Business and Basis of Presentation	9 Months Ended
Description of Business and Basis of Presentation	Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Business CrowdStrike Holdings, Inc. (the “Company”) was formed on November 7, 2011. The Company provides a leading cloud-delivered solution for next-generation endpoint and cloud workload protection via a software as a service (“SaaS”) subscription-based model that spans multiple security markets, including corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity protection and log management. The Company is headquartered in Sunnyvale, California. The Company conducts its business in the United States, as well as locations internationally, including in Australia, Germany, India, Israel, Romania, and the United Kingdom. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2021, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all of the information required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all normal recurring adjustments that are necessary for the fair statement of the Company’s condensed consolidated financial information. The results of operations for the three and nine months ended October 31, 2021 are not necessarily indicative of the results to be expected for the year ending January 31, 2022 or for any other interim period or for any other future year. The accompanying interim unaudited condensed consolidated financial statements and related financial information should be read in conjunction with Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021, filed with the SEC on March 18, 2021.

Balance Sheet Components - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets, noncurrent	$ 11,441	$ 8,627
Deferred finance cost, noncurrent	4,499	4,355
Deferred income tax asset, noncurrent	3,065	1,328
Deposits, noncurrent	2,676	2,802
Other long-term assets	$ 21,681	$ 17,112