Income Tax Expense (Benefit)
Effective Income Tax Rate (EITR)
Components of Deferred Tax Assets and Liabilities
Adjustments to Financial Statements: Removal of Deferred Taxes
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

CrowdStrike Holdings Inc., income tax expense (benefit), continuing operations

US$ in thousands

12 months ended:	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Federal	272)	—)	—)	—)	—)
State	4,462)	855)	611)	401)	104)
Foreign	30,885)	20,241)	85,700)	5,811)	2,574)
Current	35,619)	21,096)	86,311)	6,212)	2,678)
Federal	(307)	135)	(363)	(136)	(362)
State	(343)	89)	(63)	(317)	(57)
Foreign	(2,737)	1,082)	(13,530)	(999)	(262)
Deferred	(3,387)	1,306)	(13,956)	(1,452)	(681)
Provision for income taxes	32,232)	22,402)	72,355)	4,760)	1,997)

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
Current	Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.	CrowdStrike Holdings Inc. current decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Deferred	Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.	CrowdStrike Holdings Inc. deferred increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Provision for income taxes	Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	CrowdStrike Holdings Inc. provision for income taxes decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

CrowdStrike Holdings Inc., effective income tax rate (EITR) reconciliation

		Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
	Federal statutory tax rate	21.00%	21.00%	21.00%	21.00%	21.00%
	Effective tax rate	26.24%	-14.01%	-45.22%	-5.42%	-1.43%

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
Effective tax rate	Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	CrowdStrike Holdings Inc. effective tax rate increased from 2022 to 2023 and from 2023 to 2024.

CrowdStrike Holdings Inc., components of deferred tax assets and liabilities

US$ in thousands

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Net operating loss carryforwards	420,803)	441,352)	428,238)	289,889)	166,083)
Research and other credit carryforwards	100,002)	75,712)	56,539)	22,778)	15,355)
Intangible assets	81,551)	62,650)	61,008)	—)	78)
Stock-based compensation	33,885)	44,861)	33,202)	20,154)	8,716)
Deferred revenue	169,777)	109,919)	34,425)	21,595)	21,012)
Accrued expenses	23,956)	17,890)	12,550)	7,791)	2,555)
Operating lease liabilities	20,613)	13,013)	10,144)	10,718)	—)
Capitalized research and development	320,708)	286,124)	154,625)	63,158)	—)
Other, net	—)	—)	4,514)	—)	950)
Gross deferred assets	1,171,295)	1,051,521)	795,245)	436,083)	214,749)
Valuation allowance	(957,710)	(910,070)	(770,861)	(413,828)	(207,596)
Deferred tax assets	213,585)	141,451)	24,384)	22,255)	7,153)
Property and equipment, net	(51,335)	(24,096)	(8,769)	(4,446)	(2,534)
Capitalized commissions	(128,302)	(99,397)	(1,632)	(2,960)	(4,456)
Intangible assets	(6,489)	—)	—)	(3,697)	—)
Operating right-of-use assets	(19,956)	(12,285)	(9,256)	(9,610)	—)
Other, net	(277)	(1,220)	—)	(302)	—)
Deferred tax liabilities	(206,359)	(136,998)	(19,657)	(21,015)	(6,990)
Net deferred tax assets (liabilities)	7,226)	4,453)	4,727)	1,240)	163)

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
Gross deferred assets	Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	CrowdStrike Holdings Inc. gross deferred assets increased from 2022 to 2023 and from 2023 to 2024.
Deferred tax assets	Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	CrowdStrike Holdings Inc. deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Net deferred tax assets (liabilities)	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.	CrowdStrike Holdings Inc. net deferred tax assets (liabilities) decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

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: Noncurrent deferred tax assets, net	7,226)	4,453)	4,727)	1,240)	163)
Total assets (adjusted)	6,639,294)	5,022,087)	3,613,654)	2,731,293)	1,404,743)
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: Net deferred tax assets (liabilities)	7,226)	4,453)	4,727)	1,240)	163)
Total CrowdStrike Holdings, Inc. stockholders’ equity (adjusted)	2,296,724)	1,459,188)	1,021,037)	869,334)	741,944)
Adjustment to Net Income (loss) Attributable To CrowdStrike
Net income (loss) attributable to CrowdStrike (as reported)	89,327)	(183,245)	(234,802)	(92,629)	(141,779)
Add: Deferred income tax expense (benefit)	(3,387)	1,306)	(13,956)	(1,452)	(681)
Net income (loss) attributable to CrowdStrike (adjusted)	85,940)	(181,939)	(248,758)	(94,081)	(142,460)

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
Net Profit Margin
Reported net profit margin	2.92%	-8.18%	-16.18%	-10.59%	-29.45%
Adjusted net profit margin	2.81%	-8.12%	-17.14%	-10.76%	-29.59%
Total Asset Turnover
Reported total asset turnover	0.46	0.45	0.40	0.32	0.34
Adjusted total asset turnover	0.46	0.45	0.40	0.32	0.34
Financial Leverage
Reported financial leverage	2.88	3.43	3.53	3.14	1.89
Adjusted financial leverage	2.89	3.44	3.54	3.14	1.89
Return on Equity (ROE)
Reported ROE	3.88%	-12.52%	-22.89%	-10.64%	-19.10%
Adjusted ROE	3.74%	-12.47%	-24.36%	-10.82%	-19.20%
Return on Assets (ROA)
Reported ROA	1.34%	-3.65%	-6.49%	-3.39%	-10.09%
Adjusted ROA	1.29%	-3.62%	-6.88%	-3.44%	-10.14%

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 net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	CrowdStrike Holdings Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.
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 adjusted 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 adjusted 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)
Net income (loss) attributable to CrowdStrike	89,327)	(183,245)	(234,802)	(92,629)	(141,779)
Revenue	3,055,555)	2,241,236)	1,451,594)	874,438)	481,413)
Profitability Ratio
Net profit margin¹	2.92%	-8.18%	-16.18%	-10.59%	-29.45%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to CrowdStrike	85,940)	(181,939)	(248,758)	(94,081)	(142,460)
Revenue	3,055,555)	2,241,236)	1,451,594)	874,438)	481,413)
Profitability Ratio
Adjusted net profit margin²	2.81%	-8.12%	-17.14%	-10.76%	-29.59%

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 Net profit margin = 100 × Net income (loss) attributable to CrowdStrike ÷ Revenue
= 100 × 89,327 ÷ 3,055,555 = 2.92%

² Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to CrowdStrike ÷ Revenue
= 100 × 85,940 ÷ 3,055,555 = 2.81%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	CrowdStrike Holdings Inc. adjusted net profit margin 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)
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 Deferred Taxes
Selected Financial Data (US$ in thousands)
Revenue	3,055,555)	2,241,236)	1,451,594)	874,438)	481,413)
Adjusted total assets	6,639,294)	5,022,087)	3,613,654)	2,731,293)	1,404,743)
Activity Ratio
Adjusted total asset turnover²	0.46	0.45	0.40	0.32	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 ÷ 6,639,294 = 0.46

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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 Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted total assets	6,639,294)	5,022,087)	3,613,654)	2,731,293)	1,404,743)
Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity	2,296,724)	1,459,188)	1,021,037)	869,334)	741,944)
Solvency Ratio
Adjusted financial leverage²	2.89	3.44	3.54	3.14	1.89

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
= 6,639,294 ÷ 2,296,724 = 2.89

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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 Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to CrowdStrike	85,940)	(181,939)	(248,758)	(94,081)	(142,460)
Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity	2,296,724)	1,459,188)	1,021,037)	869,334)	741,944)
Profitability Ratio
Adjusted ROE²	3.74%	-12.47%	-24.36%	-10.82%	-19.20%

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 × Adjusted net income (loss) attributable to CrowdStrike ÷ Adjusted total CrowdStrike Holdings, Inc. stockholders’ equity
= 100 × 85,940 ÷ 2,296,724 = 3.74%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted 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 Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to CrowdStrike	85,940)	(181,939)	(248,758)	(94,081)	(142,460)
Adjusted total assets	6,639,294)	5,022,087)	3,613,654)	2,731,293)	1,404,743)
Profitability Ratio
Adjusted ROA²	1.29%	-3.62%	-6.88%	-3.44%	-10.14%

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 × Adjusted net income (loss) attributable to CrowdStrike ÷ Adjusted total assets
= 100 × 85,940 ÷ 6,639,294 = 1.29%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted 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 Income Taxes

Income Tax Expense (Benefit)

Effective Income Tax Rate (EITR)

Components of Deferred Tax Assets and Liabilities

Adjustments to Financial Statements: Removal of Deferred Taxes

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

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

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

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)