Common-Size Income Statement
Quarterly Data
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CrowdStrike Holdings Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Selected Financial Data since 2020
- Return on Equity (ROE) since 2020
- Debt to Equity since 2020
- Total Asset Turnover since 2020
- Price to Earnings (P/E) since 2020
- Aggregate Accruals
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CrowdStrike Holdings Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
- Subscription Revenue as a Percentage of Total Revenue
- The subscription revenue ratio shows a consistent increasing trend over the periods, starting at 89.5% in April 2019 and rising to above 95% by early 2025. This reflects a growing emphasis on subscription-based revenue streams.
- Professional Services Revenue as a Percentage of Total Revenue
- The proportion of revenue from professional services exhibits a steady decline, from 10.5% in April 2019 to around 4.7% by the first quarter of 2025, indicating a decreased reliance on professional services in overall revenue composition.
- Gross Profit Margin
- Gross profit margins remain relatively stable around the low to mid-70% range throughout the period, with slight fluctuations but showing an overall mild improvement from 69.53% at the start to approximately 73.8% by April 2025, suggesting effective management of cost of revenue.
- Cost of Revenue as a Percentage of Total Revenue
- The cost of revenue ratio shows a gradual decline from around 30.5% to mid-20% range, consolidating the improvement in gross profit margin observed over this timeframe.
- Sales and Marketing Expenses
- Sales and marketing expenses relative to revenue demonstrate a notable declining trend, falling from nearly 59% in April 2019 to just below 40% by early 2025. This reduction reflects increased operational efficiency or possibly changes in sales strategy.
- Research and Development Expenses
- Research and development (R&D) expenses fluctuate throughout the periods, generally ranging between about 23% to 30%. There is a slight upward trend towards the later periods reaching approximately 30%, indicating sustained or increased investment in innovation and product development.
- General and Administrative Expenses
- General and administrative expenses show considerable volatility but trend mostly within the 11% to 18% range, with a slight reduction towards the most recent periods, which may reflect controlled overhead costs.
- Operating Expenses
- Operating expenses as a whole have decreased from over 96% of revenue in early periods to around 85% by the later periods, indicating improving operational leverage and expense management.
- Income (Loss) from Operations
- Operating income shows a significant improvement from a loss of approximately 27% of revenue in April 2019 to positive territory in some quarters post-2022, peaking around 3.5% in early 2024, though it fluctuates and dips again toward the later periods. This pattern suggests improvements in core profitability with some recent reversals.
- Interest Income and Expense
- Interest expense remains low but persistent, generally under 2% of revenue, with a slight downward trend over time. Interest income appears from 2021 onward and shows a rising pattern, reaching around 5% of revenue, contributing positively to net income in later periods.
- Other Income (Expense), Net
- This item is relatively minor and volatile, showing small positive and negative variations close to zero, indicating limited impact on overall profitability.
- Income (Loss) Before Provision for Income Taxes
- The pre-tax income improves markedly over the periods, moving from significant losses close to 47% of revenue to small profits around 8% by early 2024. However, there is some volatility and a downturn in recent quarters, indicating variable profitability outside of taxes.
- Provision for Income Taxes
- Tax provisions fluctuate widely, with some quarters showing unusually high relative values (e.g., -16.5% in April 2021), indicating non-recurring tax effects or tax adjustments. Overall, tax expense as a percentage of revenue remains modestly negative, fluctuating around 1% to 4% in most periods.
- Net Income (Loss) as a Percentage of Revenue
- Net income follows a pattern similar to operating income and income before taxes, beginning with large losses exceeding 27% and 48% early on, moving toward marginal profits in the 2023–2024 timeframe (up to roughly 6.5%), but falling back into losses toward 2025. This highlights inconsistent profitability despite operational improvements.
- Net Income Attributable to CrowdStrike
- The net income attributable to the company generally aligns with total net income trends, reflecting the company's core earnings performance. Improvements to marginal profitability are noted in the middle to later periods, though losses re-emerge approaching 2025.