Goodwill and Intangible Asset Disclosure
Adjustments to Financial Statements: Removal of Goodwill
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

CrowdStrike Holdings Inc., balance sheet: goodwill and intangible assets

US$ in thousands

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Goodwill	638,041)	430,645)	416,445)	83,566)	7,722)
Developed technology	131,346)	101,452)	97,668)	14,513)	1,238)
Customer relationships	17,027)	12,032)	12,045)	3,769)	607)
Intellectual property and other acquired intangible assets	15,842)	4,717)	2,397)	399)	121)
Intangible assets, gross carrying amount	164,215)	118,201)	112,110)	18,681)	1,966)
Accumulated amortization	(49,697)	(31,312)	(14,774)	(3,004)	(1,439)
Intangible assets, net	114,518)	86,889)	97,336)	15,677)	527)
Goodwill and intangible assets, net	752,559)	517,534)	513,781)	99,243)	8,249)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

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Item	Description	The company
Goodwill	Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.	CrowdStrike Holdings Inc. goodwill increased from 2022 to 2023 and from 2023 to 2024.
Intangible assets, net	Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	CrowdStrike Holdings Inc. intangible assets, net decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Goodwill and intangible assets, net	Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	CrowdStrike Holdings Inc. goodwill and intangible assets, net increased from 2022 to 2023 and from 2023 to 2024.

CrowdStrike Holdings Inc., adjustments to financial statements

US$ in thousands

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Adjustment to Total Assets
Total assets (as reported)	6,646,520)	5,026,540)	3,618,381)	2,732,533)	1,404,906)
Less: Goodwill	638,041)	430,645)	416,445)	83,566)	7,722)
Total assets (adjusted)	6,008,479)	4,595,895)	3,201,936)	2,648,967)	1,397,184)
Adjustment to Total CrowdStrike Holdings, Inc. Stockholders’ Equity
Total CrowdStrike Holdings, Inc. stockholders’ equity (as reported)	2,303,950)	1,463,641)	1,025,764)	870,574)	742,107)
Less: Goodwill	638,041)	430,645)	416,445)	83,566)	7,722)
Total CrowdStrike Holdings, Inc. stockholders’ equity (adjusted)	1,665,909)	1,032,996)	609,319)	787,008)	734,385)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

CrowdStrike Holdings Inc., Financial Data: Reported vs. Adjusted

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CrowdStrike Holdings Inc., adjusted financial ratios

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Total Asset Turnover
Reported total asset turnover	0.46	0.45	0.40	0.32	0.34
Adjusted total asset turnover	0.51	0.49	0.45	0.33	0.34
Financial Leverage
Reported financial leverage	2.88	3.43	3.53	3.14	1.89
Adjusted financial leverage	3.61	4.45	5.25	3.37	1.90
Return on Equity (ROE)
Reported ROE	3.88%	-12.52%	-22.89%	-10.64%	-19.10%
Adjusted ROE	5.36%	-17.74%	-38.54%	-11.77%	-19.31%
Return on Assets (ROA)
Reported ROA	1.34%	-3.65%	-6.49%	-3.39%	-10.09%
Adjusted ROA	1.49%	-3.99%	-7.33%	-3.50%	-10.15%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	CrowdStrike Holdings Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	CrowdStrike Holdings Inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as net income divided by adjusted shareholders’ equity.	CrowdStrike Holdings Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as net income divided by adjusted total assets.	CrowdStrike Holdings Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

CrowdStrike Holdings Inc., Financial Ratios: Reported vs. Adjusted

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	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Revenue	3,055,555)	2,241,236)	1,451,594)	874,438)	481,413)
Total assets	6,646,520)	5,026,540)	3,618,381)	2,732,533)	1,404,906)
Activity Ratio
Total asset turnover¹	0.46	0.45	0.40	0.32	0.34
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Revenue	3,055,555)	2,241,236)	1,451,594)	874,438)	481,413)
Adjusted total assets	6,008,479)	4,595,895)	3,201,936)	2,648,967)	1,397,184)
Activity Ratio
Adjusted total asset turnover²	0.51	0.49	0.45	0.33	0.34

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

2024 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 3,055,555 ÷ 6,646,520 = 0.46

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 3,055,555 ÷ 6,008,479 = 0.51

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	CrowdStrike Holdings Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Total assets	6,646,520)	5,026,540)	3,618,381)	2,732,533)	1,404,906)
Total CrowdStrike Holdings, Inc. stockholders’ equity	2,303,950)	1,463,641)	1,025,764)	870,574)	742,107)
Solvency Ratio
Financial leverage¹	2.88	3.43	3.53	3.14	1.89
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted total assets	6,008,479)	4,595,895)	3,201,936)	2,648,967)	1,397,184)
Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity	1,665,909)	1,032,996)	609,319)	787,008)	734,385)
Solvency Ratio
Adjusted financial leverage²	3.61	4.45	5.25	3.37	1.90

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

2024 Calculations

¹ Financial leverage = Total assets ÷ Total CrowdStrike Holdings, Inc. stockholders’ equity
= 6,646,520 ÷ 2,303,950 = 2.88

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity
= 6,008,479 ÷ 1,665,909 = 3.61

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	CrowdStrike Holdings Inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CrowdStrike	89,327)	(183,245)	(234,802)	(92,629)	(141,779)
Total CrowdStrike Holdings, Inc. stockholders’ equity	2,303,950)	1,463,641)	1,025,764)	870,574)	742,107)
Profitability Ratio
ROE¹	3.88%	-12.52%	-22.89%	-10.64%	-19.10%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CrowdStrike	89,327)	(183,245)	(234,802)	(92,629)	(141,779)
Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity	1,665,909)	1,032,996)	609,319)	787,008)	734,385)
Profitability Ratio
Adjusted ROE²	5.36%	-17.74%	-38.54%	-11.77%	-19.31%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

2024 Calculations

¹ ROE = 100 × Net income (loss) attributable to CrowdStrike ÷ Total CrowdStrike Holdings, Inc. stockholders’ equity
= 100 × 89,327 ÷ 2,303,950 = 3.88%

² Adjusted ROE = 100 × Net income (loss) attributable to CrowdStrike ÷ Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity
= 100 × 89,327 ÷ 1,665,909 = 5.36%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as net income divided by adjusted shareholders’ equity.	CrowdStrike Holdings Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CrowdStrike	89,327)	(183,245)	(234,802)	(92,629)	(141,779)
Total assets	6,646,520)	5,026,540)	3,618,381)	2,732,533)	1,404,906)
Profitability Ratio
ROA¹	1.34%	-3.65%	-6.49%	-3.39%	-10.09%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CrowdStrike	89,327)	(183,245)	(234,802)	(92,629)	(141,779)
Adjusted total assets	6,008,479)	4,595,895)	3,201,936)	2,648,967)	1,397,184)
Profitability Ratio
Adjusted ROA²	1.49%	-3.99%	-7.33%	-3.50%	-10.15%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

2024 Calculations

¹ ROA = 100 × Net income (loss) attributable to CrowdStrike ÷ Total assets
= 100 × 89,327 ÷ 6,646,520 = 1.34%

² Adjusted ROA = 100 × Net income (loss) attributable to CrowdStrike ÷ Adjusted total assets
= 100 × 89,327 ÷ 6,008,479 = 1.49%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as net income divided by adjusted total assets.	CrowdStrike Holdings Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

CrowdStrike Holdings Inc. (NASDAQ:CRWD)

Analysis of Goodwill and Intangible Assets

Goodwill and Intangible Asset Disclosure

Adjustments to Financial Statements: Removal of Goodwill

CrowdStrike Holdings Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

CrowdStrike Holdings Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)